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

3 Months Ended

Nov. 30, 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 for accounting purposes. 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 months ended November 30, 2015 and 2014. We have revised the information that we have historically included in this table below to correct for immaterial 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 disclosure revisions did not materially impact our consolidated financial statements.



		For the Three Months Ended November 30,
	Location of Gain (Loss)	2015			2014
		(Dollars in thousands)
Commodity and freight derivatives	Cost of goods sold	$	35,046		$	73,683
Foreign exchange derivatives	Cost of goods sold	8,206			2,343
Interest rate derivatives	Interest, net	(704		)	29
Total		$	42,548		$	76,055

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

all outstanding commodity and freight contracts accounted for as derivative instruments.



	November 30, 2015		August 31, 2015
	Long	Short	Long	Short
	(Units in thousands)
Grain and oilseed - bushels	682,616	950,565	711,066	895,326
Energy products - barrels	11,647	7,886	17,238	11,676
Processed grain and oilseed - tons	695	3,120	706	2,741
Crop nutrients - tons	60	25	48	116
Ocean and barge freight - metric tons	4,231	2,180	5,916	1,962
Rail freight - rail cars	227	102	297	122
Natural gas - MMBtu	10,420	—	—	—
Livestock - pounds	40,520	25,000	10,480	1,280

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



	August 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	$	476,071	$	—	$	58,401	$	417,670
Foreign exchange derivatives	23,154		—		11,682		11,472
Interest rate derivatives - hedge	14,216		—		—		14,216
Total	$	513,441	$	—	$	70,083	$	443,358
Derivative Liabilities:
Commodity and freight derivatives	$	427,052	$	11,482	$	58,401	$	357,169
Foreign exchange derivatives	37,598		—		11,682		25,916
Interest rate derivatives - hedge	6,058		—		—		6,058
Interest rate derivatives - non-hedge	61		—		—		61
Total	$	470,769	$	11,482	$	70,083	$	389,204



	November 30, 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	$	404,915	$	—	$	29,143	$	375,772
Foreign exchange derivatives	24,364		—		13,080		11,284
Interest rate derivatives - hedge	14,578		—		—		14,578
Total	$	443,857	$	—	$	42,223	$	401,634
Derivative Liabilities:
Commodity and freight derivatives	$	342,378	$	18,449	$	29,143	$	294,786
Foreign exchange derivatives	22,551		—		13,080		9,471
Interest rate derivatives - hedge	5,267		—		—		5,267
Interest rate derivatives - non-hedge	19		—		—		19
Total	$	370,215	$	18,449	$	42,223	$	309,543

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 months ended November 30, 2015 and 2014.



	For the Three Months Ended November 30,
	2015			2014
	(Dollars in thousands)
Interest rate derivatives	$	(6,818	)	$	(594	)

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 months ended November 30, 2015 and 2014.



		For the Three Months Ended November 30,
	Location of Gain (Loss)	2015			2014
		(Dollars in thousands)
Interest rate derivatives	Interest income (expense)	$	(191	)	$	(203	)

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

During the three months ended November 30, 2015, and 2014, we recorded offsetting fair value adjustments of $2.3 million, and $8.2 million, respectively, with no ineffectiveness recorded in earnings.