REVOLVING LINES OF CREDIT

12 Months Ended

Jan. 31, 2019

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

10. REVOLVING LINES OF CREDIT

One Earth and NuGen each have $10.0 million revolving loan facilities that mature June 1, 2019. Any borrowings will be secured by the inventory and accounts receivable of One Earth or NuGen, specific to which entity borrows money under these facilities. These revolving loan facilities are recourse only to One Earth and NuGen, respectively, and not to REX American Resources Corporation or any of its other subsidiaries. Borrowings under these facilities bear interest at the one month LIBOR rate plus 225 basis points. Neither One Earth nor NuGen had outstanding borrowings on the revolving loans during the years ended January 31, 2019 or 2018.