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Derivative Financial Instruments and Hedging Activities (Tables)
 12 Months Ended
Aug. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of gross fair values of derivative assets, derivative liabilities, and margin deposits (cash collateral) The following tables present the gross fair values of derivative assets, derivative liabilities and margin deposits (cash collateral) recorded on our Consolidated Balance Sheets, along with related amounts permitted to be offset in accordance with U.S. GAAP. Although we have certain netting arrangements for our exchange-traded futures and options contracts and certain
over-the-counter ("OTC") contracts, we have elected to report our derivative instruments on a gross basis on our Consolidated Balance Sheets under ASC Topic 210-20, Balance Sheet - Offsetting.
August 31, 2020
Amounts Not Offset on the Consolidated Balance Sheet but Eligible for Offsetting
Gross Amounts RecognizedCash CollateralDerivative InstrumentsNet Amounts
 (Dollars in thousands)
Derivative Assets
Commodity derivatives$327,493 $— $2,980 $324,513 
Foreign exchange derivatives11,809 — 9,385 2,424 
Embedded derivative asset18,998 — — 18,998 
Total$358,300 $— $12,365 $345,935 
Derivative Liabilities
Commodity derivatives$343,343 $956 $5,578 $336,809 
Foreign exchange derivatives69,466 — 9,385 60,081 
Total$412,809 $956 $14,963 $396,890 

August 31, 2019
Amounts Not Offset on the Consolidated Balance Sheet but Eligible for Offsetting
Gross Amounts RecognizedCash CollateralDerivative InstrumentsNet Amounts
 (Dollars in thousands)
Derivative Assets
Commodity derivatives$215,030 $— $58,726 $156,304 
Foreign exchange derivatives10,334 — 7,108 3,226 
Embedded derivative asset21,364 — — 21,364 
Total$246,728 $— $65,834 $180,894 
Derivative Liabilities
Commodity derivatives$223,410 $4,191 $41,647 $177,572 
Foreign exchange derivatives20,609 — 7,108 13,501 
Total$244,019 $4,191 $48,755 $191,073 
Pretax gains (losses) on derivatives not accounted for 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 years ended August 31, 2020, 2019 and 2018.
Derivative TypeLocation of
Gain (Loss)		202020192018
  (Dollars in thousands)
Commodity derivativesCost of goods sold$89,248 $125,323 $162,321 
Foreign exchange derivativesCost of goods sold(184,692)4,228 (26,010)
Foreign exchange derivativesMarketing, general and administrative expenses(2,986)(1,229)596 
Interest rate derivativesInterest expense(1,226)— (1)
Embedded derivativeOther income2,634 2,769 3,061 
Total $(97,022)$131,091 $139,967 
Schedule of notional volumes for outstanding commodity contracts The table below presents the notional volumes for all outstanding commodity contracts.
 20202019
Derivative TypeLongShortLongShort
 (Units in thousands)
Grain and oilseed (bushels)664,673 892,303 547,096717,522
Energy products (barrels)10,028 6,570 13,8954,663
Processed grain and oilseed (tons)657 3,304 5972,454
Crop nutrients (tons)74 127 7623
Ocean freight (metric tons)1,140 95 29585
Natural gas (MMBtu)— — 130 — 
Schedule of fair value of derivative interest rate swap instruments designated as fair value hedges The following table presents the fair value of our derivative interest rate swap instruments designated as fair value hedges and the line items on our Consolidated Balance Sheets in which they are recorded as of August 31, 2020 and 2019.
20202019
Balance Sheet LocationDerivative Assets
(Dollars in thousands)
Other assets$— $9,841 
The following table presents the fair value of our commodity derivative instruments designated as cash flow hedges and the line items on our Consolidated Balance Sheets in which they are recorded as of August 31, 2020 and 2019.
Derivative AssetsDerivative Liabilities
Balance Sheet Location20202019Balance Sheet Location20202019
(Dollars in thousands)(Dollars in thousands)
Other current assets$34,052 $33,179 Other current liabilities$8,821 $5,351 
Schedule of pretax gains (losses) on derivatives accounted for as hedging instruments The following table sets forth the pretax gains (losses) on derivatives accounted for as hedging instruments that have been included in our Consolidated Statements of Operations for the years ended August 31, 2020, 2019 and 2018.
Gain (Loss) on Fair Value Hedging RelationshipsLocation of
Gain (Loss)		202020192018
(Dollars in thousands)
Interest rate swapsInterest expense$(1,897)$21,158 $18,723 
Hedged itemInterest expense1,897 (21,158)(18,723)
Total$— $— $— 
The following table presents the pretax gains (losses) recorded in other comprehensive income relating to cash flow hedges for the years ended August 31, 2020, 2019 and 2018:
202020192018
 (Dollars in thousands)
Commodity derivatives$(2,596)$27,650 $178 
Schedule of location and carrying amount of hedged liabilities The following table provides the location and carrying amount of hedged liabilities in our Consolidated Balance Sheets as of August 31, 2020 and 2019.
August 31, 2020August 31, 2019
Balance Sheet LocationCarrying Amount of Hedged LiabilitiesCumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged LiabilitiesCarrying Amount of Hedged LiabilitiesCumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Liabilities
(Dollars in thousands)
Long-term debt$— $— $334,389 $30,611