Derivatives (Tables)

3 Months Ended

Mar. 31, 2012

Derivatives (Tables) [Abstract]

Estimated fair value of Company's commodity derivative instruments for cash collateral and associated cash as collateral

	March 31, 2012					December 31, 2011					March 31, 2011
(in thousands)	Net derivative asset position		Net derivative liability position			Net derivative asset position			Net derivative liability position		Net derivative asset position		Net derivative liability position
Collateral paid	$	—	$	7,289		$	66,870		$	—	$	—	$	46,305
Fair value of derivatives		—		(19,578	)		(20,480	)		—		—		(87,125	)
Balance at end of period	$	—	$	(12,289	)	$	46,390		$	—	$	—	$	(40,820	)

Company's Condensed Consolidated Statement of Income gains and location of line items

	Three months ended March 31,
(in thousands)	2012			2011
Gains (losses) on commodity derivatives included in sales and merchandising revenues	$	(3,657	)	$	1,278

Amounts of quantities outstanding included in commodity derivative contracts

Commodity	Number of bushels (in thousands)		Number of gallons (in thousands)		Number of pounds (in thousands)		Number of tons (in thousands)
Non-exchange traded:
Corn		249,893		—		—		—
Soybeans		23,214		—		—		—
Wheat		16,179		—		—		—
Oats		10,971		—		—		—
Ethanol		—		176,818		—		—
Corn oil		—		—		66,684		—
Other		—		—		—		62
Subtotal		300,257		176,818		66,684		62
Exchange traded:
Corn		110,250		—		—		—
Soybeans		33,410		—		—		—
Wheat		46,855		—		—		—
Oats		3,035		—		—		—
Bean oil		—		—		18,000		—
Ethanol		—		840		—		—
Other		—		10		—		—
Subtotal		193,550		850		18,000		—
Total		493,807		177,668		84,684		62