DERIVATIVE INSTRUMENTS (Tables)

9 Months Ended

Jul. 31, 2020

DERIVATIVE INSTRUMENTS

Schedule of derivative instruments

The following table provides detail regarding the Company’s derivative instruments at July 31, 2020,  none of which are designated as hedging instruments:

	Consolidated Balance Sheet Location	Assets		Liabilities
Corn contracts	Commodity derivative instruments	$	28,492	$	—
Ethanol contracts	Commodity derivative instruments		—		31,826
Totals		$	28,492	$	31,826

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	$	—

Schedule of gains (losses) from derivative instruments

	Consolidated Statement of	Three Months Ended  July 31,				Nine Months Ended July 31,
	Operations Location	2020		2019		2020		2019
Corn contracts	Cost of goods sold	$	(287,301)	$	409,362	$	(803,632)	$	638,832
Ethanol contracts	Revenues		(31,945)		31,820		(195,535)		31,820
Total gain (loss)		$	(319,246)	$	441,182	$	(999,167)	$	670,652