Commitments and Contingencies

3 Months Ended

Apr. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

Note 15. Commitments and Contingencies

The Company is involved in various legal actions arising in the normal course of business. After taking into consideration legal counsels’ evaluations of such actions, management is of the opinion that their outcome will not have a material adverse effect on the Company’s Consolidated Condensed Financial Statements.

One Earth and NuGen have combined forward purchase contracts for approximately 23.9 million bushels of corn, the principal raw material for their ethanol plants. They expect to take delivery of the grain through October 2018.

One Earth and NuGen have combined sales commitments for approximately 43.8 million gallons of ethanol, approximately 113,000 tons of distillers grains and approximately 17.4 million pounds of non-food grade corn oil. They expect to deliver a majority of the ethanol, distillers grains and non-food grade corn oil through October 2018.

The refined coal entity has various agreements (site license, operating agreements, etc.) containing payment terms based upon production of refined coal under which the Company is required to pay various fees. These fees totaled approximately $1.8 million in the first three months of fiscal year 2018