DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Apr. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Assets at Fair Value [Table Text Block]

The following table provides information about the fair values of the Company’s derivative financial instruments (that are not accounted for under the “normal purchases and normal sales” scope exemption of ASC 815) and the line items on the Consolidated Condensed Balance Sheets in which the fair values are reflected (in thousands):

	Asset Derivatives				Liability Derivatives
	Fair Value				Fair Value
	April 30, 2019		January 31, 2019		April 30, 2019		January 31, 2019
Commodity futures (1)	$	289	$	44	$	8	$	-
Forward purchase contracts (2)		-		-		253		22
Total	$	289	$	44	$	261	$	22

(1) Commodity futures liabilities are included in accrued expenses and other current liabilities. Commodity futures assets are included in prepaid expenses and other current assets. These contracts are short/sell positions for approximately 0.6 million bushels of corn and approximately 4.0 million gallons of ethanol at April 30, 2019. These contracts are short/sell positions for approximately 2.0 million bushels of corn at January 31, 2019.

(2) Forward purchase contracts liabilities are included in accrued expenses and other current liabilities. These contracts are for purchases of approximately 1.9 million and 1.3 million bushels of corn at April 30, 2019 and January 31, 2019, respectively.