Derivative Financial Instruments and Hedging Activities Derivative Financial Insturments and Hedging Activities (Tables)

9 Months Ended

May. 31, 2015

Derivative Instruments, Gain (Loss) [Line Items]

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

Derivatives Not Designated as Hedging Instruments

The majority of our derivative instruments have not been designated as hedging instruments. The following table sets forth the pretax gains (losses) on derivatives not accounted for as hedging instruments that have been included in our Consolidated Statements of Operations for the three and nine months ended May 31, 2015 and 2014. We have revised the information that we have historically included in this table below to correct for errors in the previously disclosed amounts. Although such gains and losses have been and continue to be appropriately recorded in the Consolidated Statements of Operations, the previous disclosures did not accurately reflect the derivative gains and losses in each period. These revisions did not materially impact our consolidated financial statements.



		For the Three Months Ended May 31,					For the Nine Months Ended May 31,
	Location of Gain (Loss)	2015		2014			2015		2014
		(Dollars in thousands)
Commodity and freight derivatives	Cost of goods sold	$	113,554	$	28,051		$	327,745	$	178,278
Foreign exchange derivatives	Cost of goods sold	4,211		(6,487		)	12,401		(6,681		)
Interest rate derivatives	Interest, net	10		24			84		75
Total		$	117,775	$	21,588		$	340,230	$	171,672

Schedule of Derivative Instruments, Purchase and Sales Contracts [Table Text Block]

all outstanding commodity and freight contracts accounted for as derivative instruments. We have made revisions to the information that we have historically included in this table below to correct for errors in the previously disclosed amounts. We previously disclosed volume information for physically-settled forward purchase and sale contracts, including some contracts not accounted for as derivatives. As a result, we have corrected the derivative volume disclosure presented below to include information on the notional amounts for contracts accounted for as derivatives in accordance with ASC Topic 815, Derivatives and Hedging. These revisions did not materially impact our previously issued consolidated financial statements.



	May 31, 2015		August 31, 2014
	Long	Short	Long	Short
	(Units in thousands)
Grain and oilseed - bushels	614,214	819,346	655,799	802,479
Energy products - barrels	21,777	15,569	20,191	16,431
Processed grain and oilseed- tons	906	3,939	749	3,047
Crop nutrients - tons	84	191	59	126
Ocean and barge freight - metric tons	5,643	1,829	5,727	4,250
Rail freight - rail cars	354	175	364	186
Livestock - pounds	13,800	35,680	11,960	46,520

Reconciliation of gross and net fair values of assets and liabilities subject to offsetting arrangements [Table Text Block]



	August 31, 2014
			Amounts Not Offset on the Consolidated Balance Sheet but Eligible for Offsetting
	Gross Amounts Recognized		Cash Collateral		Derivative Instruments		Net Amounts
	(Dollars in thousands)
Derivative Assets:
Commodity and freight derivatives	$	597,210	$	—	$	42,229	$	554,981
Foreign exchange derivatives	2,523		—		1,174		1,349
Interest rate derivatives - hedge	4,200		—		—		4,200
Total	$	603,933	$	—	$	43,403	$	560,530
Derivative Liabilities:
Commodity and freight derivatives	$	597,612	$	2,504	$	42,229	$	552,879
Foreign exchange derivatives	2,248		—		1,174		1,074
Interest rate derivatives - non-hedge	130		—		—		130
Total	$	599,990	$	2,504	$	43,403	$	554,083



	May 31, 2015
			Amounts Not Offset on the Consolidated Balance Sheet but Eligible for Offsetting
	Gross Amounts Recognized		Cash Collateral		Derivative Instruments		Net Amounts
	(Dollars in thousands)
Derivative Assets:
Commodity and freight derivatives	$	573,592	$	—	$	79,969	$	493,623
Foreign exchange derivatives	16,783		—		7,156		9,627
Interest rate derivatives - hedge	14,649		—		—		14,649
Total	$	605,024	$	—	$	87,125	$	517,899
Derivative Liabilities:
Commodity and freight derivatives	$	500,137	$	16,829	$	79,969	$	403,339
Foreign exchange derivatives	22,887		—		7,156		15,731
Interest rate derivatives - hedge	6,064		—		—		6,064
Interest rate derivatives - non-hedge	84		—		—		84
Total	$	529,172	$	16,829	$	87,125	$	425,218

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]

The following table presents the pretax gains (losses) recorded in other comprehensive income relating to cash flow hedges for the three and nine months ended May 31, 2015 and 2014.



	For the Three Months Ended May 31,				For the Nine Months Ended May 31,
	2015		2014		2015			2014
	(Dollars in thousands)
Interest rate derivatives	$	389	$	—	$	(3,907	)	$	(10,580	)

The following table presents the pretax gains (losses) relating to cash flow hedges that were reclassified from accumulated other comprehensive loss into income for the three and nine months ended May 31, 2015 and 2014.



		For the Three Months Ended May 31,						For the Nine Months Ended May 31,
	Location of Gain (Loss)	2015			2014			2015			2014
		(Dollars in thousands)
Interest rate derivatives	Interest income (expense)	$	(197	)	$	(210	)	$	(598	)	$	12,933

Schedule of Derivative Instruments, Gain (Loss) in Consolidated Statements of Operations

During the nine months ended May 31, 2015, we recorded offsetting fair value adjustments of $8.3 million, with no ineffectiveness recorded in earnings.