Derivative Financial Instruments (Tables)

3 Months Ended

Apr. 30, 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 (that are not accounted for under the “normal purchases and normal sales” scope exemption of ASC 815) and the line items on the Consolidated Balance Sheets in which the fair values are reflected (in thousands):

	Asset Derivatives Fair Value				Liability Derivatives Fair Value
	April 30, 2023		January 31, 2023		April 30, 2023		January 31, 2023
Commodity futures (1)	$	2,366	$	80	$	554	$	67
Forward purchase contracts (2)		1,301		105		2,097		355
Total	$	3,667	$	185	$	2,651	$	422

(1) Commodity futures assets are included in “Prepaid expenses and other” on the accompanying Consolidated Balance Sheets. These contracts include short/sell positions and long/buy positions for

approximately 5.5 million bushels and 20,000 bushels of corn, respectively at April 30, 2023. These contracts included short/sell positions and long/buy positions for approximately 3.2 million bushels and 725,000 bushels of corn, respectively at January 31, 2023. Commodity futures liabilities are included in “Accrued expenses and other current liabilities” on the accompanying Consolidated Balance Sheets. These contracts included short/sell positions for approximately 3.9 million bushels and 1.4 million bushels of corn at April 30, 2023 and January 31, 2023, respectively.

(2) Forward purchase contracts assets are included in “Prepaid expenses and other” on the accompanying Consolidated Balance Sheets. These contracts were for purchases of approximately 9.3 million bushels and 5.2 million bushels of corn at April 30, 2023 and January 31, 2023, respectively. Forward contract liabilities are included in “Accrued expenses and other current liabilities” on the accompanying Consolidated Condensed Balance Sheets. These contracts were for purchases of approximately 9.8 million bushels and 12.8 million bushels of corn at April 30, 2023 and January 31, 2023, respectively.