FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Jul. 31, 2026

Schedule of Assets (Liabilities) Measured at Fair Value

The following table provides information on those assets (liabilities) measured at fair value on a recurring and non-recurring basis.


	Fair Value as of		Fair Value Measurement Using
	July 31, 2026		Level 1		Level 2		Level 3
Derivative instruments - commodities
In gain position	$	190,812	$	27,437	$	163,375	$	—
In loss position	(1,181,170)		(1,980)		(1,179,190)		—
Other assets - tax credits	9,500,000						9,500,000


	Fair Value as of		Fair Value Measurement Using
	October 31, 2025		Level 1		Level 2		Level 3
Derivative instruments - commodities
In gain position	$	4,345	$	750	$	3,595	$	—
In loss position	(1,148,116)		(2,091)		(1,146,025)		—
Other assets - tax credits	10,400,000						10,400,000

Schedule of Level 3 Fair Value Measurements

The following table summarizes the roll forward of Level 3 nonrecurring fair value measurements as of July 31, 2026:


Fair Value as of October 31, 2025	$	10,400,000
Tax credit generation	3,300,000
Other	229,780
Net Fair Value at January 31, 2026	13,929,780
Tax credit generation	3,400,000
Net Fair Value at April 30, 2026	17,329,780
Tax credit generation	5,000,000
Proceeds from sale of 2025 tax credits	(12,829,780)
Net Fair Value at July 31, 2026	9,500,000

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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