2.4.0.82128100 - Disclosure - Commitments and Contingenciestruefalsefalse1falsefalsefalseD2013Q3YTDhttp://www.sec.gov/CIK0001181749duration2012-11-01T00:00:002013-07-31T00:00:001true1gfe_CommitmentsAndContingenciesAbstractgfe_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false2us-gaap_CommitmentsAndContingenciesDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">COMMITMENTS AND CONTINGENCIES</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Corn Storage and Grain Handling Agreement and Purchase Commitments</font><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GFE has a corn storage and grain handling agreement with Farmers Cooperative Elevator Company (FCE), a member. Under the current agreement, GFE agrees to purchase all of the corn needed for the operation of the plant from FCE. The price of the corn purchased will be the bid price the member establishes for the plant plus a set fee per bushel. At July 31, 2013, GFE had basis contracts for forward corn purchase commitments with FCE for </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">1,455,000</font><font style="font-family:inherit;font-size:10pt;"> bushels for deliveries in August and September 2013. At July 31, 2013, GFE also had </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">375,000</font><font style="font-family:inherit;font-size:10pt;"> bushels of stored corn totaling approximately </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2,775,000</font><font style="font-family:inherit;font-size:10pt;"> with FCE that is included in inventory.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Ethanol Contracts</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">At July 31, 2013, GFE had forward contracts to sell approximately </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$15,980,000</font><font style="font-family:inherit;font-size:10pt;"> of ethanol for deliveries in August 2013 through December 2013 which approximates </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">29%</font><font style="font-family:inherit;font-size:10pt;"> of its anticipated ethanol sales during that period. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Distillers Grain Contracts</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">At July 31, 2013, GFE had forward contracts to sell approximately </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$1,580,000</font><font style="font-family:inherit;font-size:10pt;"> of distillers grain for deliveries in August 2013 through December 2013 which approximates </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">17%</font><font style="font-family:inherit;font-size:10pt;"> of its anticipated distillers grain sales during that period.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Natural Gas</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HLBE has natural gas agreements with a minimum purchase commitment of approximately </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">1.6 million</font><font style="font-family:inherit;font-size:10pt;"> MMBTU per year until October 31, 2014.</font></div></div>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for commitments and contingencies.Reference 1: http://www.xbrl.org/2003/role/presentationRef
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