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Derivative Financial Instruments and Hedging Activities Derivative Financial Insturments and Hedging Activities (Tables)
3 Months Ended
Nov. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Reconciliation of gross and net fair values of assets and liabilities subject to offsetting arrangements [Table Text Block]
 
November 30, 2017
 
 
 
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
$
324,867

 
$

 
$
36,052

 
$
288,815

Foreign exchange derivatives
4,297

 

 
2,741

 
1,556

Interest rate derivatives - hedge
3,596

 

 

 
3,596

Embedded derivative asset
22,271

 

 

 
22,271

Total
$
355,031

 
$

 
$
38,793

 
$
316,238

Derivative Liabilities:
 
 
 
 
 
 
 
Commodity and freight derivatives
$
224,656

 
$
10,358

 
$
36,052

 
$
178,246

Foreign exchange derivatives
7,556

 

 
2,741

 
4,815

Interest rate derivatives - hedge
2,641

 

 

 
2,641

Total
$
234,853

 
$
10,358

 
$
38,793

 
$
185,702



 
August 31, 2017
 
 
 
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
$
384,648

 
$

 
$
35,080

 
$
349,568

Foreign exchange derivatives
8,771

 

 
3,636

 
5,135

Interest rate derivatives - hedge
9,978

 

 

 
9,978

Embedded derivative asset
25,533

 

 

 
25,533

Total
$
428,930

 
$

 
$
38,716

 
$
390,214

Derivative Liabilities:
 
 
 
 
 
 
 
Commodity and freight derivatives
$
309,762

 
$
3,898

 
$
35,080

 
$
270,784

Foreign exchange derivatives
19,931

 

 
3,636

 
16,295

Interest rate derivatives - hedge
707

 

 

 
707

Total
$
330,400

 
$
3,898

 
$
38,716

 
$
287,786

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, 2017, and 2016.

 
 
 
For the Three Months Ended November 30,
 
Location of
Gain (Loss)
 
2017
 
2016
 
 
 
(Dollars in thousands)
Commodity and freight derivatives
Cost of goods sold
 
$
27,752

 
$
18,410

Foreign exchange derivatives
Cost of goods sold
 
6,766

 
6,024

Foreign exchange derivatives
Marketing, general and administrative
 
(495
)
 
145

Interest rate derivatives
Interest expense
 
(1
)
 
2

Embedded derivative
Other income
 
1,738

 
29,106

Total
 
$
35,760

 
$
53,687

Schedule of Derivative Instruments, Purchase and Sales Contracts [Table Text Block]
all outstanding commodity and freight contracts accounted for as derivative instruments.
 
November 30, 2017
 
August 31, 2017
 
Long
 
Short
 
Long
 
Short
 
(Units in thousands)
Grain and oilseed - bushels
588,263

 
805,041

 
570,673

 
768,540

Energy products - barrels
16,254

 
19,300

 
15,072

 
18,252

Processed grain and oilseed - tons
196

 
1,700

 
299

 
2,347

Crop nutrients - tons
25

 
4

 
9

 
15

Ocean and barge freight - metric tons
4,785

 
3,144

 
2,777

 
1,766

Rail freight - rail cars
151

 
68

 
176

 
75

Natural gas - MMBtu
1,500

 

 
500