DERIVATIVE INSTRUMENTS (Tables)

12 Months Ended

Oct. 31, 2020

DERIVATIVE INSTRUMENTS

Schedule of derivative instruments

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

	Consolidated Balance Sheet Location	Assets		Liabilities
Corn contracts	Commodity derivative instruments	$	—	$	173,928
Ethanol contracts	Commodity derivative instruments		15,150		—
Totals		$	15,150	$	173,928

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
	Operations Location	2020		2019
Corn contracts	Cost of goods sold	$	(1,069,393)	$	350,624
Ethanol contracts	Revenues		(130,673)		24,592
Total gain (loss)		$	(1,200,066)	$	375,216