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Other Assets Disclosure [Text Block]

Note 6. Other Assets

The components of other assets are as follows for the periods presented (amounts in thousands):

	April 30, 2017		January 31, 2017

Real estate taxes refundable	$	5,925	$	5,923
Deposits		105		155
Other		747		835
Total	$	6,777	$	6,913

Real estate taxes refundable represent amounts due One Earth associated with refunds of previously paid taxes in connection with a tax increment financing arrangement with local taxing authorities. Deposits are with utility and other vendors.

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

3 Months Ended

Apr. 30, 2017

Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]

Note 7. Accrued Expenses and Other Current Liabilities

The components of accrued expenses and other current liabilities are as follows for the periods presented (amounts in thousands):

	April 30, 2017		January 31, 2017

Accrued utility charges	$	2,003	$	2,414
Accrued payroll and related items		2,031		4,279
Accrued real estate taxes		2,868		2,716
Accrued income taxes		4,363		2,120
Other		2,996		1,819
Total	$	14,261	$	13,348

REVOLVING LINES OF CREDIT

3 Months Ended

Apr. 30, 2017

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

Note 8. Revolving Lines of Credit

Effective April 1, 2016, One Earth and NuGen each entered into $10.0 million revolving loan facilities that matured April 1, 2017. Neither One Earth nor NuGen had outstanding borrowings on the revolving loans during the three months ended April 30, 2017 and 2016.

DERIVATIVE FINANCIAL INSTRUMENTS

3 Months Ended

Apr. 30, 2017

Financial Instruments Disclosure [Text Block]

Note 9. Derivative Financial Instruments

The Company is exposed to various market risks, including changes in commodity prices (raw materials and finished goods). To manage risks associated with the volatility of these natural business exposures, the Company enters into commodity agreements and forward purchase (corn) and sale (ethanol, distillers grains and non-food grade corn oil) contracts. The Company does not purchase or sell derivative financial instruments for trading or speculative purposes. The Company does not purchase or sell derivative financial instruments for which a lack of marketplace quotations would require the use of fair value estimation techniques.

The following table provides information about the fair values of the Company’s derivative financial instruments and the line items on the Consolidated Condensed Balance Sheets in which the fair values are reflected (in thousands):

	Asset Derivatives Fair Value				Liability Derivatives Fair Value
	April 30, 2017		January 31, 2017		April 30, 2017		January 31, 2017

Commodity futures (1)	$	66	$	45	$	—	$	—
Forward purchase contracts (2)		—		163		413		136
Total	$	66	$	208	$	413	$	136

(1) Commodity futures are included in prepaid expenses and other current assets. These contracts are short/sell positions for approximately 0.9 million and 0.7 million bushels of corn at April 30, 2017 and January 31, 2017, respectively.

(2) Forward purchase contracts assets are included in prepaid expenses and other current assets while forward purchase contracts liabilities are included in accrued expenses and other current liabilities. These contracts are for purchases of approximately 10.8 million and 5.3 million bushels of corn at April 30, 2017 and January 31, 2017, respectively.

As of April 30, 2017, all of the derivative financial instruments held by the Company were subject to enforceable master netting arrangements. The Company’s accounting policy is to offset positions amounts owed or owing with the same counterparty. As of April 30, 2017, the gross positions of the enforceable master netting agreements are not significantly different from the net positions presented in the table above. Depending on the amount of an unrealized loss on a derivative contract held by the Company, the counterparty may require collateral to secure the Company’s derivative contract position. As of April 30, 2017, the Company was required to maintain collateral with the counterparty in the amount of approximately $130,000 to secure the Company’s derivative liability position.

See Note 4 which contains fair value information related to derivative financial instruments.

Gains of approximately $124,000 and $488,000 for the first quarters of fiscal years 2017 and 2016, respectively, on the Company’s derivative financial instruments were included in cost of sales on the Consolidated Condensed Statements of Operations.

INVESTMENTS

3 Months Ended

Apr. 30, 2017

Investments Schedule [Abstract]

Investment [Text Block]

Note 10. Investments

The following table summarizes the equity method investment at April 30, 2017 and January 31, 2017 (dollars in thousands):

Entity	Ownership Percentage			Carrying Amount April 30, 2017		Carrying Amount January 31, 2017

Big River		9.7	%	$	38,533	$	37,833

Undistributed earnings of the equity method investee totaled approximately $18.5 million and $17.8 million at April 30, 2017 and January 31, 2017, respectively. The Company did not receive dividends from its equity method investee in the first quarter of fiscal year 2017 or 2016.

Summarized financial information for the Company’s equity method investee is presented in the following table for the periods presented (amounts in thousands):

	Three Months Ended April 30,
	2017		2016

Net sales and revenue	$	192,500	$	183,571
Gross profit	$	8,181	$	5,870
Income from continuing operations	$	7,206	$	2,404
Net income	$	7,206	$	2,404

Big River has debt agreements that limit amounts Big River can pay in the form of dividends or advances to owners. The restricted net assets of Big River at April 30, 2017 and January 31, 2017 are approximately $284.7 million and $278.7 million, respectively.

On June 1, 2015, Patriot and a subsidiary of CHS Inc. (“CHS”) completed a merger that resulted in CHS acquiring 100% of the ownership interest in Patriot. During the first quarter of fiscal year 2016, the Company received proceeds of approximately $2.3 million as partial payment for certain escrow holdbacks and adjustments to the purchase price. As a result, the Company recognized approximately $0.2 million as gain on sale of investment during the first quarter of fiscal year 2016. The Company does not expect any further proceeds or gain/loss on sale of investment to be significant.

EMPLOYEE BENEFITS

3 Months Ended

Apr. 30, 2017

Compensation and Employee Benefit Plans [Text Block]

Note 11. Employee Benefits

The Company maintains the REX 2015 Incentive Plan, approved by its shareholders, which reserves a total of 550,000 shares of common stock for issuance pursuant to its terms. The plan provides for the granting of shares of stock, including options to purchase shares of common stock, stock appreciation rights tied to the value of common stock, restricted stock, and restricted stock unit awards to eligible employees, non-employee directors and consultants. The Company measures share-based compensation grants at fair value on the grant date, adjusted for estimated forfeitures. The Company records noncash compensation expense related to liability and equity awards in its consolidated financial statements over the requisite service period on a straight-line basis. At April 30, 2017, 525,330 shares remain available for issuance under the Plan. As a component of their compensation, restricted stock has been granted to directors at the market price of REX common stock on the date of the grant. In addition one third of executives’ incentive compensation is payable by an award of restricted stock based on the then market price of REX common stock.

At April 30, and January 31, 2017, unrecognized compensation cost related to nonvested restricted stock was approximately $185,000 and $214,000, respectively.

The following table summarizes non-vested restricted stock award activity for the three months ended April 30, 2017:

	Non-Vested Shares		Weighted Average Grant Date Fair Value (000’s)		Weighted Average Remaining Vesting Term (in years)

Non-Vested at January 31, 2017		23,350	$	1,386		2
Granted		—		—
Forfeited		—		—
Vested		—		—

Non-Vested at April 30, 2017		23,350	$	1,386		2

INCOME TAXES

3 Months Ended

Apr. 30, 2017

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

Note 12. Income Taxes

The effective tax rate on consolidated pre-tax income was 29.9% for the three months ended April 30, 2017, and 30.4% for the three months ended April 30, 2016.

The Company files a U.S. federal income tax return and income tax returns in various states. In general, the Company is no longer subject to U.S. federal, state or local income tax examinations by tax authorities for years ended January 31, 2010 and prior. A reconciliation of the beginning and ending

amount of unrecognized tax benefits, including interest and penalties, is as follows (amounts in thousands):

Unrecognized tax benefits, January 31, 2017	$	2,096
Changes for prior years’ tax positions		147
Changes for current year tax positions		—
Unrecognized tax benefits, April 30, 2017	$	2,243

COMMITMENTS AND CONTINGENCIES

3 Months Ended

Apr. 30, 2017

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

Note 13. Commitments and Contingencies

The Company is involved in various legal actions arising in the normal course of business. After taking into consideration legal counsels’ evaluations of such actions, management is of the opinion that their outcome will not have a material adverse effect on the Company’s Consolidated Condensed Financial Statements.

One Earth and NuGen have combined forward purchase contracts for approximately 14.4 million bushels of corn, the principal raw material for their ethanol plants. They expect to take delivery of the grain through September 2017.

One Earth and NuGen have combined sales commitments for approximately 113.6 million gallons of ethanol, approximately 53,000 tons of distillers grains and approximately 14.1 million pounds of non-food grade corn oil. They expect to deliver the ethanol through December 2017 and expect to deliver the distillers grains and non-food grade corn oil through June 2017.

NET SALES AND REVENUE

3 Months Ended

Apr. 30, 2017

Net Sales And Revenue [Abstract]

Net Sales And Revenue [Text Block]

Note 14. Net Sales and Revenue

The following table summarizes sales for each product and service group for the periods presented (amounts in thousands):

	Three Months Ended April 30,
Product or Service Category		2017		2016
Ethanol	$	91,472	$	77,631
Dried distillers grains		15,149		17,054
Non-food grade corn oil		4,593		3,846
Modified distillers grains		1,920		1,564
Other		9		127
Total	$	113,143	$	100,222

RELATED PARTY TRANSACTIONS

3 Months Ended

Apr. 30, 2017

Note 15. Related-Party Transactions

During the first quarters of fiscal year 2017 and 2016, One Earth and NuGen purchased approximately $42.3 million and approximately $44.4 million, respectively, of corn from minority equity investors and board members of those subsidiaries. The Company had amounts payable to related parties for corn purchases of approximately $1.1 million and $1.7 million at April 30, 2017 and January 31, 2017, respectively.

Accounting Policies, by Policy (Policies)

3 Months Ended

Apr. 30, 2017

Accounting Policies [Abstract]

Revenue Recognition, Policy [Policy Text Block]

Revenue Recognition

Cost of Sales, Policy [Policy Text Block]

Cost of Sales

Selling, General and Administrative Expenses, Policy [Policy Text Block]

Selling, General and Administrative Expenses

The Company includes non-production related costs such as professional fees, selling charges and certain payroll in selling, general and administrative expenses.

Fair Value of Financial Instruments, Policy [Policy Text Block]

Financial Instruments

Income Tax, Policy [Policy Text Block]

Income Taxes

Inventory, Policy [Policy Text Block]

Inventories

	April 30, 2017		January 31, 2017

Ethanol and other finished goods	$	3,159	$	5,262
Work in process		2,487		2,359
Grain and other raw materials		14,781		9,436
Total	$	20,427	$	17,057

Property, Plant and Equipment, Policy [Policy Text Block]

Property and Equipment

Investment, Policy [Policy Text Block]

Investments

Comprehensive Income, Policy [Policy Text Block]

Comprehensive Income

The Company has no components of other comprehensive income, and therefore, comprehensive income equals net income.

New Accounting Pronouncements, Policy [Policy Text Block]

Accounting Changes and Recently Issued Accounting Standards

ACCOUNTING POLICIES (Tables)

3 Months Ended

Apr. 30, 2017

Accounting Policies [Abstract]

Schedule of Inventory, Current [Table Text Block]

The components of inventory are as follows as of the dates presented (amounts in thousands):

	April 30, 2017		January 31, 2017

Ethanol and other finished goods	$	3,159	$	5,262
Work in process		2,487		2,359
Grain and other raw materials		14,781		9,436
Total	$	20,427	$	17,057

LEASES (Tables)

3 Months Ended

Apr. 30, 2017

Leases [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

Years Ended January 31,	Minimum Rentals

Remainder of 2018	$	5,486
2019		6,910
2020		5,379
2021		3,580
2022		2,948
Thereafter		1,622
Total	$	25,925

FAIR VALUE (Tables)

3 Months Ended

Apr. 30, 2017

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Financial assets and liabilities measured at fair value on a recurring basis at April 30, 2017 are summarized below (amounts in thousands):

	Level 1		Level 2		Level 3		Fair Value

Commodity futures (1)	$	—	$	66	$	—	$	66
Investment in cooperative (2)		—		—		333		333
Total assets	$	—	$	66	$	333	$	399

Forward purchase contract liability (3)	$	—	$	413	$	—	$	413

	Level 1		Level 2		Level 3		Fair Value

Commodity futures (1)	$	—	$	45	$	—	$	45
Forward purchase contract asset (4)		—		163		—		163
Investment in cooperative (2)		—		—		333		333
Total assets	$	—	$	208	$	333	$	541

Forward purchase contract liability (3)	$	—	$	136	$	—	$	136

(1) Commodity futures are included in “Prepaid expenses and other current assets” on the accompanying Consolidated Condensed Balance Sheets.

(2) The investment in cooperative is included in “Other assets” on the accompanying Consolidated Condensed Balance Sheets.

(3) The forward purchase contract liability is included in “Accrued expenses and other current liabilities” on the accompanying Consolidated Condensed Balance Sheets.

(4) The forward purchase contract asset is included in “Prepaid expenses and other current assets on the accompanying Consolidated Condensed Balance Sheets.

PROPERTY AND EQUIPMENT (Tables)

3 Months Ended

Apr. 30, 2017

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

The components of property and equipment are as follows for the periods presented (amounts in thousa

	April 30, 2017			January 31, 2017

Land and improvements	$	20,960		$	20,951
Buildings and improvements		23,237			23,203
Machinery, equipment and fixtures		256,577			255,348
Construction in progress		6,968			1,046
		307,742			300,548
Less: accumulated depreciation		(123,068	)		(117,787	)
Total	$	184,674		$	182,761

OTHER ASSETS (Tables)

3 Months Ended

Apr. 30, 2017

Schedule of Other Assets [Table Text Block]

The components of other assets are as follows for the periods presented (amounts in thousands):

	April 30, 2017		January 31, 2017

Real estate taxes refundable	$	5,925	$	5,923
Deposits		105		155
Other		747		835
Total	$	6,777	$	6,913

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

3 Months Ended

Apr. 30, 2017

Other Current Liabilities [Table Text Block]

The components of accrued expenses and other current liabilities are as follows for the periods presented (amounts in thousands):

	April 30, 2017		January 31, 2017

Accrued utility charges	$	2,003	$	2,414
Accrued payroll and related items		2,031		4,279
Accrued real estate taxes		2,868		2,716
Accrued income taxes		4,363		2,120
Other		2,996		1,819
Total	$	14,261	$	13,348

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Apr. 30, 2017

Schedule of Derivative Assets at Fair Value [Table Text Block]

	Asset Derivatives Fair Value				Liability Derivatives Fair Value
	April 30, 2017		January 31, 2017		April 30, 2017		January 31, 2017

Commodity futures (1)	$	66	$	45	$	—	$	—
Forward purchase contracts (2)		—		163		413		136
Total	$	66	$	208	$	413	$	136

INVESTMENTS (Tables)

3 Months Ended

Apr. 30, 2017

Investments Schedule [Abstract]

Equity Method Investments [Table Text Block]

The following table summarizes the equity method investment at April 30, 2017 and January 31, 2017 (dollars in thousands):

Entity	Ownership Percentage			Carrying Amount April 30, 2017		Carrying Amount January 31, 2017

Big River		9.7	%	$	38,533	$	37,833

Schedule of Financial Information for Equity Method Investments [Table Text Block]

Summarized financial information for the Company’s equity method investee is presented in the following table for the periods presented (amounts in thousands):

	Three Months Ended April 30,
	2017		2016

Net sales and revenue	$	192,500	$	183,571
Gross profit	$	8,181	$	5,870
Income from continuing operations	$	7,206	$	2,404
Net income	$	7,206	$	2,404

EMPLOYEE BENEFITS (Tables)

3 Months Ended

Apr. 30, 2017

Nonvested Restricted Stock Shares Activity [Table Text Block]

The following table summarizes non-vested restricted stock award activity for the three months ended April 30, 2017:

	Non-Vested Shares		Weighted Average Grant Date Fair Value (000’s)		Weighted Average Remaining Vesting Term (in years)

Non-Vested at January 31, 2017		23,350	$	1,386		2
Granted		—		—
Forfeited		—		—
Vested		—		—

Non-Vested at April 30, 2017		23,350	$	1,386		2

INCOME TAXES (Tables)

3 Months Ended

Apr. 30, 2017

Income Tax Disclosure [Abstract]

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

A reconciliation of the beginning and ending amount of unrecognized tax benefits, including interest and penalties, is as follows (amounts in thousands):

Unrecognized tax benefits, January 31, 2017	$	2,096
Changes for prior years’ tax positions		147
Changes for current year tax positions		—
Unrecognized tax benefits, April 30, 2017	$	2,243

NET SALES AND REVENUE (Tables)

3 Months Ended

Apr. 30, 2017

Net Sales And Revenue [Abstract]

Revenue from External Customers by Products and Services [Table Text Block]

The following table summarizes sales for each product and service group for the periods presented (amounts in thousands):

	Three Months Ended April 30,
Product or Service Category		2017		2016
Ethanol	$	91,472	$	77,631
Dried distillers grains		15,149		17,054
Non-food grade corn oil		4,593		3,846
Modified distillers grains		1,920		1,564
Other		9		127
Total	$	113,143	$	100,222

CONSOLIDATED CONDENSED FINANCIAL STATEMENTS (Details)	3 Months Ended
CONSOLIDATED CONDENSED FINANCIAL STATEMENTS (Details)	Apr. 30, 2017
Disclosure Text Block [Abstract]
Number of Operating Segments	1
Number of Ethanol Entities Under Ownership Interest	3
Number of Ethanol Entities Under Majority Ownership Interest	2

ACCOUNTING POLICIES (Details) - USD ($)	3 Months Ended
ACCOUNTING POLICIES (Details) - USD ($)	Apr. 30, 2017	Apr. 30, 2016	Jan. 31, 2017
ACCOUNTING POLICIES (Details) [Line Items]
Income Taxes Paid	$ 0	$ 0
Proceeds from Income Tax Refunds	0	$ 0
Unrecognized Tax Benefits			$ 2,096,000
Income Tax Examination, Penalties and Interest Accrued	238,000		221,000
Unrecognized Tax Benefits, Period Increase (Decrease)	$ 2,004,000
Property, Plant and Equipment, Depreciation Methods	Depreciationis computed using the straight-line method.
Approximate [Member]
ACCOUNTING POLICIES (Details) [Line Items]
Unrecognized Tax Benefits	$ 2,004,000		$ 1,875,000
Cost of Sales [Member]
ACCOUNTING POLICIES (Details) [Line Items]
Maximum Percentage of Equity Ownership Interest Which May be Considered for Equity Method of Accounting	20.00%
Building and Building Improvements [Member] \| Minimum [Member]
ACCOUNTING POLICIES (Details) [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	15
Building and Building Improvements [Member] \| Maximum [Member]
ACCOUNTING POLICIES (Details) [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	40 years
Fixtures And Equipment [Member] \| Minimum [Member]
ACCOUNTING POLICIES (Details) [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	2
Fixtures And Equipment [Member] \| Maximum [Member]
ACCOUNTING POLICIES (Details) [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	20 years

ACCOUNTING POLICIES (Details) - Schedule of Components of Inventory - USD ($) $ in Thousands	Apr. 30, 2017	Jan. 31, 2017
Schedule of Components of Inventory [Abstract]
Ethanol and other finished goods	$ 3,159	$ 5,262
Work in process	2,487	2,359
Grain and other raw materials	14,781	9,436
Total	$ 20,427	$ 17,057

LEASES (Details) - Schedule of Future Minimum Rental Payments for Operating Leases $ in Thousands	Apr. 30, 2017 USD ($)
Schedule of Future Minimum Rental Payments for Operating Leases [Abstract]
Remainder of 2018	$ 5,486
2019	6,910
2020	5,379
2021	3,580
2022	2,948
Thereafter	1,622
Total	$ 25,925

FAIR VALUE (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis - USD ($)
$ in Thousands

Apr. 30, 2017

Jan. 31, 2017

FAIR VALUE (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]

^[1]

$ 66

$ 45

^[2]

163

^[3]

333

Total assets

399

541

Fair Value, Inputs, Level 1 [Member]

^[4]

413

136

FAIR VALUE (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]

^[1]

^[2]

^[3]

Fair Value, Inputs, Level 2 [Member]

^[4]

FAIR VALUE (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]

^[1]

^[2]

163

^[3]

Total assets

208

Fair Value, Inputs, Level 3 [Member]

^[4]

413

136

FAIR VALUE (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]

^[1]

^[2]

^[3]

333

Total assets

333