DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Jan. 31, 2023

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 and the line items on the Consolidated Balance Sheets in which the fair values are reflected (in thousands):

	Asset Derivatives				Liability Derivatives
	Fair Value at January 31,				Fair Value at January 31,
	2023		2022		2023		2022
Commodity futures (1)	$	80	$	-	$	67	$	933
Forward purchase contracts (2)	$	105	$	993	$	355	$	-

(1)

Commodity futures assets are included in prepaid expenses and other. These contracts included short/sell positions and long/buy positions for approximately 3.2 million bushels and 725,000 bushels, respectively at January 31, 2023. Commodity futures liabilities are included in accrued expenses and other current liabilities. These contracts are short/sell positions for approximately 1.4 million bushels and 7.4 million bushels of corn at January 31, 2023 and 2022, respectively.

(2)

Forward purchase contracts assets are included in prepaid expenses and other. These contracts are for purchases of approximately 5.2 million bushels and 19.2 million bushels of corn at January 31, 2023 and 2022, respectively. Forward purchase contracts liabilities are included in accrued

expenses and other current liabilities. These contracts are for purchases of approximately 12.8 million bushels of corn at January 31, 2023