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DERIVATIVE INSTRUMENTS (Tables)
 12 Months Ended
Oct. 31, 2019
DERIVATIVE INSTRUMENTS  
Schedule of derivative instruments

The following table provides detail regarding the Company’s derivative financial instruments at October 31, 2019, none of which were designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

    

Consolidated Balance Sheet Location

    

Assets

    

Liabilities

 

Corn contracts

 

Commodity derivative instruments

 

$

20,060

 

$

 —

 

Ethanol contracts

 

Commodity derivative instruments

 

 

75,763

 

 

 —

 

Totals

 

 

 

$

95,823

 

$

 —

 

 

As of October 31, 2018, the Company had no cash collateral (restricted cash) related to derivatives held by a broker.

 

The following table provides detail regarding the Company’s derivative financial instruments at October 31, 2018, none of which were designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

    

Consolidated Balance Sheet Location

    

Assets

    

Liabilities

 

Corn contracts

 

Commodity derivative instruments

 

$

425,638

 

$

25,180

 

Totals

 

 

 

$

425,638

 

$

25,180

 

 

Schedule of gains (losses) from derivative instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Consolidated Statement of

 

Fiscal Year Ended  October 31,

 

 

    

Operations Location

 

2019

    

2018

    

2017

 

Corn contracts

 

Cost of goods sold

 

$

350,624

 

$

1,188,237

 

$

962,256

 

Ethanol contracts

 

Revenues

 

 

24,592

 

 

53,747

 

 

(218,802)

 

Natural gas contracts

 

Cost of goods sold

 

 

 —

 

 

(1,598)

 

 

(15,381)

 

Total gain

 

 

 

$

375,216

 

$

1,240,386

 

$

728,073