Lake Area Corn Processors (LKCRU) 10-Q 11 Aug 23 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Aug. 11, 2023
Document and Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Jun. 30, 2023
Entity File Number	000-50254
Entity Registrant Name	LAKE AREA CORN PROCESSORS, LLC
Entity Incorporation, State or Country Code	SD
Entity Tax Identification Number	46-0460790
Entity Address, Address Line One	46269 SD Highway 34
Entity Address, Address Line Two	P.O. Box 100
Entity Address, City or Town	Wentworth,
Entity Address, State or Province	SD
Entity Address, Postal Zip Code	57075
City Area Code	(605)
Local Phone Number	483-2676
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		29,620,000
Entity Central Index Key	0001156174
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Emerging Growth Company	false
Entity Small Business	false
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Entity Shell Company	false

Consolidated Balance Sheets

Consolidated Balance Sheets	3 Months Ended	6 Months Ended
	Jun. 30, 2023 USD ($) shares	Jun. 30, 2023 USD ($) shares	Dec. 31, 2022 USD ($)
CURRENT ASSETS
Accounts receivable	$ 822,504	$ 822,504	$ 1,083,258
Accounts Receivable, Related Parties	9,626,414	9,626,414	1,850,646
Inventory	19,713,115	19,713,115	25,795,711
Derivative financial instruments	4,464,224	4,464,224	2,856,439
Prepaid expenses	1,684,275	1,684,275	864,810
Total current assets	50,312,367	50,312,367	59,455,069
PROPERTY AND EQUIPMENT
Land	874,473	874,473	874,473
Land improvements	8,763,023	8,763,023	8,763,023
Buildings	9,316,576	9,316,576	9,316,576
Equipment	108,127,329	108,127,329	108,125,289
Construction in progress	420,113	420,113	13,366
Gross Property and Equipment	127,501,514	127,501,514	127,092,727
Less accumulated depreciation	(66,389,479)	(66,389,479)	(63,611,356)
Net property and equipment	61,112,035	61,112,035	63,481,371
OTHER ASSETS
Goodwill	10,395,766	10,395,766	10,395,766
Investments	18,317,967	18,317,967	17,691,011
Other	7,745,980	7,745,980	5,383,310
Total other assets	36,459,713	36,459,713	33,470,087
TOTAL ASSETS	147,884,115	147,884,115	156,406,527
CURRENT LIABILITIES
Outstanding checks in excess of bank balance	5,894,202	5,894,202	4,200,281
Accounts payable	14,329,597	14,329,597	39,105,845
Accrued liabilities	606,654	606,654	719,113
Derivative financial instruments	7,148,676	7,148,676	435,053
Current maturities of notes payable	0	0	1,000,000
Total current liabilities	27,979,129	27,979,129	45,460,292
LONG-TERM LIABILITIES
Notes payable	2,999,104	2,999,104	2,998,229
Total long-term liabilities	2,999,104	2,999,104	2,998,229
MEMBERS' EQUITY (29,620,000 units issued and outstanding)	116,905,882	116,905,882	107,948,006
TOTAL LIABILITIES AND MEMBERS' EQUITY	147,884,115	147,884,115	156,406,527
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents	$ 14,001,835	$ 14,001,835	$ 27,004,205
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted | shares	29,620,000	29,620,000

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
REVENUES	$ 74,179,247	$ 75,437,299	$ 152,020,353	$ 139,888,192
COSTS OF REVENUES	68,348,239	66,601,639	142,290,751	128,359,733
Gross Profit	5,831,008	8,835,660	9,729,602	11,528,459
OPERATING EXPENSES	1,303,144	1,152,015	2,754,646	2,399,894
INCOME (LOSS) FROM OPERATIONS	4,527,864	7,683,645	6,974,956	9,128,565
OTHER INCOME (EXPENSE)
Interest and other income	2,578,911	1,242,944	2,775,376	1,497,493
Equity in net income (loss) of investments	1,593,161	2,228,338	2,456,956	2,226,795
Interest expense	(71,150)	(31,953)	(161,442)	(64,680)
Total other income (expense)	4,100,922	3,439,329	5,070,890	3,659,608
NET INCOME (LOSS)	$ 8,628,786	$ 11,122,974	$ 12,045,846	$ 12,788,173
Net Income (Loss), Per Outstanding Limited Partnership and General Partnership Unit, Basic and Diluted, Net of Tax	$ 0.29	$ 0.38	$ 0.41	$ 0.43
Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted	29,620,000	29,620,000	29,620,000	29,620,000
DISTRIBUTIONS DECLARED PER UNIT (in dollars per unit)	$ 0.10	$ 0	$ 0.10	$ 0.51

Consolidated Statements of Chan

Consolidated Statements of Changes in Members' Equity (Unaudited)	USD ($)
Balance at the beginning of period at Dec. 31, 2021	$ 113,468,865
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	1,665,199
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Paid	(15,056,167)
Balance at the end of period at Mar. 31, 2022	100,077,897
Balance at the beginning of period at Dec. 31, 2021	113,468,865
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	12,788,173
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Paid	(15,056,167)
Balance at the end of period at Jun. 30, 2022	111,200,871
Balance at the beginning of period at Mar. 31, 2022	100,077,897
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	11,122,974
Balance at the end of period at Jun. 30, 2022	111,200,871
Balance at the beginning of period at Dec. 31, 2022	107,948,006
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	3,417,060
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Paid	(125,970)
Balance at the end of period at Mar. 31, 2023	111,239,096
Balance at the beginning of period at Dec. 31, 2022	107,948,006
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	12,045,846
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Paid	(3,087,970)
Balance at the end of period at Jun. 30, 2023	116,905,882
Balance at the beginning of period at Mar. 31, 2023	111,239,096
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	8,628,786
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Paid	(2,962,000)
Balance at the end of period at Jun. 30, 2023	$ 116,905,882

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited)	6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
OPERATING ACTIVITIES
Net income	$ 12,045,846	$ 12,788,173
Adjustments to reconcile net income to cash provided by operating activities
Depreciation and amortization	2,786,995	2,453,326
Distributions in excess of earnings from investments	(626,956)	903,205
Gain (Loss) on Disposition of Property Plant Equipment	0	125,400
(Increase) decrease in
Accounts receivable	(7,515,014)	2,341,645
Inventory	6,082,595	(4,514,833)
Prepaid expenses	(819,465)	323,703
Increase (Decrease) in Derivative Assets and Liabilities	5,105,839	(1,630,539)
Accounts payable	(24,171,832)	(20,353,304)
Accrued and other liabilities	(112,459)	(98,062)
NET CASH PROVIDED BY OPERATING ACTIVITIES	(7,224,451)	(7,912,086)
Payments for (Proceeds from) Other Investing Activities	(2,370,667)	0
INVESTING ACTIVITIES
Purchase of property and equipment	(1,013,203)	(4,661,241)
NET CASH (USED IN) INVESTING ACTIVITIES	(3,383,870)	(4,661,241)
FINANCING ACTIVITIES
Increase (decrease) in outstanding checks in excess of bank balance	1,693,921	4,857,823
Borrowings on notes payable	5,949,000	13,498,000
Principal payments on notes payable	(6,949,000)	(13,497,000)
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Paid	(3,087,970)	(15,056,167)
NET CASH PROVIDED BY FINANCING ACTIVITIES	(2,394,049)	(10,197,344)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(13,002,370)	(22,770,671)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents	14,001,835	15,224,639
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid during the period for interest, net of capitalized interest of $6,103 and $69,414 in 2023 and 2022, respectively.	$ 169,199	$ 54,216

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Statement of Cash Flows [Abstract]
Capitalized interest	$ 6,103	$ 69,414

Nature of Operations

Nature of Operations	6 Months Ended
	Jun. 30, 2023
Nature of Operations [Abstract]
Nature of Operations	NATURE OF OPERATIONS Principal Business Activity Lake Area Corn Processors, LLC (the "Company") and its wholly owned subsidiary, Dakota Ethanol, LLC ("Dakota Ethanol") are both South Dakota limited liability companies. The Company owns and manages Dakota Ethanol, a 100 million-gallon (annual nameplate capacity) ethanol plant, located near Wentworth, South Dakota. Dakota Ethanol sells ethanol and related products to customers located in North America. In addition, the Company has investment interests in five companies in related industries. See Note 5 to the Consolidated Financial Statements of the Company for further details.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The unaudited financial statements contained herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America although the Company believes that the disclosures are adequate to make the information not misleading. In the opinion of management, all adjustments considered necessary for a fair presentation have been included in the accompanying financial statements. All adjustments are of a normal and recurring nature. The results of operations for the six months ended June 30, 2023 are not necessarily indicative of the results to be expected for a full year. These financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s audited financial statements for the year ended December 31, 2022, contained in the Company's annual report on Form 10-K for 2022 filed with the SEC on March 9, 2023. Principles of Consolidation The consolidated financial statements of the Company include the accounts of its wholly owned subsidiary, Dakota Ethanol. All significant inter-company transactions and balances have been eliminated in consolidation. Revenue Recognition ASC Topic 606, Revenue from Contracts with Customers requires the Company to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance requires the Company to apply the following steps: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, the Company satisfies a performance obligation. The Company generally recognizes revenue at one point in time, as more thoroughly described below. The Company's contracts with customers generally have one performance obligation and a contract duration of one year or less. The following is a description of principal activities from which we generate revenue. Revenues from contracts with customers are recognized when control of the promised goods or services are transferred to our customers, in an amount that reflects the consideration that we expect to receive in exchange for those goods or services. Generally, ethanol and related products are shipped FOB shipping point and control of the goods transfers to customers when the goods are loaded into trucks or when rail cars are shipped. Consideration is based on predetermined contractual prices or on current market prices. • sales of ethanol • sales of distillers grains • sales of distillers corn oil Disaggregation of revenue: All revenue recognized in the income statement is considered to be revenue from contracts with customers. The following table depicts the disaggregation of revenue according to product line: Three Months Ended June 30 Six Months Ended June 30, 2023 2022 2023 2022 Revenues ethanol $ 57,424,180 $ 57,572,423 $ 115,828,049 $ 105,778,318 Revenues distillers grains 13,033,674 12,915,406 27,643,003 25,040,108 Revenues distillers corn oil 3,721,393 4,949,470 8,549,301 9,069,766 $ 74,179,247 $ 75,437,299 $ 152,020,353 $ 139,888,192 Contract assets and contract liabilities: The Company receives payments from customers based on contractual billing schedules and accounts receivable are recorded when the right to consideration becomes unconditional. Contract liabilities include payments received in advance of performance under the contract, and are realized with the associated revenue recognized under the contract. The Company has no significant contract assets or contract liabilities from contracts with customers at June 30, 2023 and December 31, 2022. Shipping costs Shipping costs incurred by the Company in the sale of ethanol, dried distillers grains and corn oil are not specifically identifiable, and as a result, revenue from the sale of those products is recorded based on the net selling price reported to the Company from the marketer. When the Company performs shipping and handling activities after the transfer of control to the customers (e.g., when control transfers prior to delivery), they are considered fulfillment activities, and accordingly, the costs are accrued for when the related revenue is recognized. Reporting Segment Operating segments are defined as components of an enterprise for which separate financial information is available that is evaluated regularly by the chief operating decision maker or decision making group in deciding how to allocate resources and in assessing performance. The Company has determined that it has six (6) operating segments that give rise to two (2) reportable segments. See "Note 3 - Segments" in our Notes to Consolidated Financial Statements. Costs of Revenues The primary raw materials we use to produce ethanol, distillers grains and corn oil are corn and natural gas. Electricity, raw materials expense (chemicals and denaturant), direct labor costs, and shipping costs on modified and wet distillers grains are included in cost of revenues. Inventory Valuation Inventories are generally valued using methods which approximate the lower of cost (first-in, first-out) or net realizable value. In the valuation of inventories and purchase commitments, net realizable value is based on estimated selling prices in the ordinary course of business less reasonably predictable costs of completion, disposal and transportation. Cash and Cash Equivalents Cash and cash equivalents consist of demand accounts and other accounts with original maturities of three months or less that provide withdrawal privileges. Receivables and Credit Policies Accounts receivable are uncollateralized customer obligations due under normal trade terms requiring payment within fifteen days from the invoice date. Unpaid accounts receivable with invoice dates over thirty days old bear interest at 1.5% per month. Accounts receivable are stated at the amount billed to the customer. Payments of accounts receivable are allocated to the specific invoices identified on the customer’s remittance advice or, if unspecified, are applied to the earliest unpaid invoices. The carrying amount of trade receivables is reduced by an allowance for doubtful accounts that reflects management’s best estimate of the amounts that will not be collected. Management regularly reviews trade receivable balances and, based on an assessment of current creditworthiness, estimates the portion, if any, of the balance that will not be collected. The allowance was $0 as of June 30, 2023 and December 31, 2022. Investment in commodities contracts, derivative instruments and hedging activities The Company is exposed to certain risks related to its ongoing business operations including price risks on anticipated purchases of corn, natural gas, the sale of ethanol, distillers grains and distillers corn oil. The Company manages these risks by using forward, future and options derivative instruments. The Company is subject to market risk with respect to the price and availability of corn, the principal raw material the Company uses to produce ethanol and ethanol by-products. In general, unfavorable market conditions result from rising corn prices. This is especially true when market conditions do not allow us to pass along increased corn costs to our customers. The availability and price of corn are subject to wide fluctuations due to unpredictable factors such as weather conditions, farmer planting decisions, governmental policies with respect to agriculture and international trade and global demand and supply. Additionally, the crisis in Ukraine may effect the price of corn, and by extension, our business. Certain contracts that meet the definition of a derivative may be exempt from derivative accounting as normal purchases or normal sales. Normal purchases and normal sales are contracts that provide for the purchase or sale of something other than a financial instrument or derivative instrument that will be delivered in quantities expected to be used or sold over a reasonable period in the normal course of business. Contracts that meet the requirements of normal purchases or sales are documented as normal and exempted from the accounting and reporting requirements of derivative accounting. The Company does not apply the normal purchase and sales exemption for forward corn purchase contracts. As of June 30, 2023, the Company was committed to purchasing approximately 6.1 million bushels of corn on a forward contract basis with an average price of $6.16 per bushel. These corn purchases represent approximately 18% of our projected plant corn usage for the next 12 months. The Company enters into firm-price purchase commitments with natural gas suppliers under which the Company agrees to buy natural gas at a price set in advance of the actual delivery. Under these arrangements, the Company assumes the risk of a price decrease in the market price of natural gas between the time the price is fixed and the time the natural gas is delivered. At June 30, 2023, the Company is committed to purchasing approximately 1,304,000 MMBtus of natural gas with an average price of $3.65 per MMBtu. The Company accounts for these transactions as normal purchases, and accordingly, does not mark these transactions to market. The natural gas purchase contracts represent approximately 62% of the annual plant requirements. The Company enters into firm-price sales commitments with distillers grains customers under which the Company agrees to sell distillers grains at a price set in advance of the actual delivery. Under these arrangements, the Company assumes the risk of a price increase in the market price of distillers grain between the time the price is fixed and the time the distillers grains are delivered. At June 30, 2023, the Company was committed to selling approximately 40,000 dry equivalent tons of distillers grains with an average price of $206 per ton. The Company accounts for these transactions as normal sales, and accordingly, does not mark these transactions to market. The distillers grains sales represent approximately 18% of the projected annual plant production. The Company enters into firm-price sales commitments with distillers corn oil customers under which the Company agrees to sell distillers corn oil at a price set in advance of the actual delivery. Under these arrangements, the Company assumes the risk of a price increase in the market price of distillers corn oil between the time the price is fixed and the time the distillers corn oil is delivered. At June 30, 2023, the Company was committed to selling approximately 2.7 million pounds of distillers corn oil with an average price of $0.60 per pound. The Company accounts for these transactions as normal sales, and accordingly, does not mark these transactions to market. The distillers corn oil sales represent approximately 8% of the projected annual plant production. The Company did not have any firm-priced sales commitments for ethanol as of June 30, 2023. The Company enters into short-term forward, option and futures contracts for corn and natural gas as a means of managing exposure to changes in commodity and energy prices. All of the Company's derivatives are designated as non-hedge derivatives, and accordingly are recorded at fair value with changes in fair value recognized in net income, or a normal purchase, normal sale exemption is elected. Although the contracts are considered economic hedges of specified risks, they are not designated and accounted for as hedging instruments. As part of our trading activity, the Company uses futures and option contracts offered through regulated commodity exchanges to reduce risk of loss in the market value of inventories and purchase commitments. Derivatives not designated as hedging instruments at June 30, 2023 and December 31, 2022 were as follows: Balance Sheet Classification June 30, 2023 December 31, 2022* Corn forward contracts in gain position $ — $ 922,181 Futures contracts in gain position 4,422,800 252,450 Futures contracts in loss position — (395,300) Total forward, futures and options contracts 4,422,800 779,331 Cash held by broker 41,424 2,077,108 Current Assets $ 4,464,224 $ 2,856,439 Corn forward contracts in loss position Current Liabilities $ (7,148,676) $ (435,053) *Derived from audited financial statements Futures contracts and cash held by broker are all with one party, and the right of offset exists. Therefore, on the balance sheet, these items are netted in one balance regardless of position. Forward contracts are with multiple parties, and the right of offset does not exist. Therefore, these contracts are reported at the gross amounts on the balance sheet. Gains and losses related to derivative contracts related to corn and natural gas are included as a component of costs of revenues. Statement of Operations Three Months Ended June 30, Classification 2023 2022 Net realized and unrealized gains (losses) related to purchase contracts: Futures contracts Cost of Revenues $ 3,912,630 $ 3,157,895 Forward contracts Cost of Revenues (9,001,801) (2,816,323) Statement of Operations Six Months Ended June 30, Classification 2023 2022 Net realized and unrealized gains (losses) related to purchase contracts: Futures contracts Cost of Revenues $ 5,230,285 $ (5,402,629) Forward contracts Cost of Revenues (11,097,676) 1,390,873 Investments The Company has investment interests in five companies in related industries. All of these interests are at ownership shares less than 20%. These investments are flow-through entities and are being accounted for by the equity method of accounting under which the Company's share of net income is recognized as income in the Company's statements of operations and added to the investment account. Distributions or dividends received from the investments are treated as a reduction of the investment account. The Company consistently follows the practice of recognizing the net income based on the most recent reliable data. Goodwill Annually, as well as when an event triggering impairment may have occurred, the Company performs an impairment test on goodwill, which compares the fair value of the reporting unit with its carrying amount. An impairment charge is recognized, if necessary, for the amount by which the carrying value exceeds the fair value up to the amount of the goodwill attributed to the reporting unit. The Company performs the annual analysis as of December 31 of each fiscal year. The Company determined that there was no impairment of goodwill at December 31, 2022 or through June 30, 2023 on the basis that no triggering events were noted. Use of Estimates The preparation of financial statements requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include the fair value of derivative financial instruments, lower of cost or net realizable value accounting for inventory and goodwill and fixed asset impairment evaluation. Risks and Uncertainties The Company has certain risks and uncertainties that it will experience during volatile market conditions, which can have a severe impact on operations. The Company's revenues are derived from the sale and distribution of ethanol and distiller grains to customers primarily located in the United States. Corn for the production process is supplied to the plant primarily from local agricultural producers and from purchases on the open market. For the three months ended June 30, 2023, ethanol sales averaged approximately 77% of total revenues, while approximately 18% of revenues were generated from the sale of distillers grains and 5% of revenues were generated from the sale of corn oil. For the six months ended June 30, 2023, ethanol sales averaged approximately 76% of total revenues, while approximately 18% of revenues were generated from the sale of distiller grains and 6% of revenues were generated from the sale of corn oil. The Company's operating and financial performance is largely driven by the prices at which it sells ethanol and the net expense of corn. The price of ethanol is influenced by factors such as supply and demand, weather, unleaded gasoline and the petroleum markets, government programs, global political or economic issues, including but not limited to, the war in Ukraine including sanctions associated therewith, shortages, export prices, crude oil prices, currency valuations and government policies in the United States and around the world, over which we have no control. Excess ethanol supply in the market, in particular, puts downward pressure on the price of ethanol. The Company's largest cost of production is corn. The cost of corn is generally impacted by factors such as supply and demand, weather, and government programs, global political or economic issues, including but not limited to the war in Ukraine including sanctions associated therewith, or global damaging growing conditions, such as plant disease or adverse weather, including drought, increased fertilizer costs as well as global conflicts. The Company's risk management program is used to protect against the price volatility of these commodities.
Goodwill and Intangible Assets Disclosure [Text Block]	Goodwill Annually, as well as when an event triggering impairment may have occurred, the Company performs an impairment test on goodwill, which compares the fair value of the reporting unit with its carrying amount. An impairment charge is recognized, if necessary, for the amount by which the carrying value exceeds the fair value up to the amount of the goodwill attributed to the reporting unit. The Company performs the annual analysis as of December 31 of each fiscal year. The Company determined that there was no impairment of goodwill at December 31, 2022 or through June 30, 2023 on the basis that no triggering events were noted.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Reporting Disclosure	SEGMENTS The Company reports its financial and operating performance in two segments: (1) production, which includes the manufacturing and marketing of fuel-grade ethanol and co-products of the ethanol production process and (2) ethanol producing equity method investments, which consists of the aggregation of the Company's two equity method operating segments of investment in Guardian Hankinson, LLC and investment in Ring-neck Energy & Feed, LLC. The Company discloses its other identified operating segments in an all other category ("All Other"), which consists of the Company's investments in RPMG, LLC, Lawrenceville Tank, LLC, and Guardian Energy Management, LLC. The Company’s two reportable segments have been identified based on their unique characteristics. Our production segment is the Company’s ethanol plant that is operated in a manner chosen by our chief decision making team. The ethanol producing equity method segment consists of aggregated operating segments investments that have exceeded the quantitative thresholds for reportable segments which have similar economic characteristics but our chief decision making team does not have input into the daily operations of those entities. The All Other is comprised of investments that fall below the quantitative thresholds for reporting segments and the Company's chief decision making team has no input into their daily operations. Production includes the core operating drivers of the Company’s consolidated financial statements which consist of the production and sale of ethanol and its co-products. Ethanol producing equity method investments derive their revenues from the production and sale of ethanol and its co-products. The All Other receives its revenues from marketing fees, management fees, and storage fees. The reconciliation item is necessary due to reportable segments not being consolidated in the financial statements, but rather are reflected as equity method investments. The segments were identified using standards under ASC 280-10-50. They each engage in business activities, the operating results are reviewed by the Company’s chief operating decision maker, and discrete financial information is available for each segment. The following tables set forth certain financial data for the Company's reportable segments: Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 unaudited unaudited unaudited unaudited Net Sales Production $ 74,179,247 $ 75,437,299 $ 152,020,353 $ 139,888,192 Ethanol Producing Equity Method Investments 181,961,028 194,642,440 344,582,483 364,770,767 All Other 4,595,088 4,372,447 8,933,102 8,781,456 Total 260,735,363 274,452,186 505,535,938 513,440,415 Reconciliation (186,556,116) (199,014,887) (353,515,585) (373,552,223) Consolidated $ 74,179,247 $ 75,437,299 $ 152,020,353 $ 139,888,192 Gross Profit: Production $ 5,831,008 $ 8,835,660 $ 9,729,602 $ 11,528,459 Ethanol Producing Equity Method Investments 20,245,533 20,013,792 32,783,603 24,172,671 All Other 3,024,743 3,004,322 5,928,503 5,940,178 Total 29,101,284 31,853,774 48,441,708 41,641,308 Reconciliation (23,270,276) (23,018,114) (38,712,106) (30,112,849) Consolidated $ 5,831,008 $ 8,835,660 $ 9,729,602 $ 11,528,459 Net Income: Production $ 8,628,786 $ 11,122,974 $ 12,045,846 $ 12,788,173 Ethanol Producing Equity Method Investments 13,761,472 21,581,560 20,030,016 20,109,343 All Other 1,870,416 1,108,979 3,077,063 2,240,957 Total 24,260,674 33,813,513 35,152,925 35,138,473 Reconciliation (15,631,888) (22,690,539) (23,107,079) (22,350,300) Consolidated $ 8,628,786 $ 11,122,974 $ 12,045,846 $ 12,788,173 June 30, 2023 December 31, 2022 unaudited audited Total Assets Production $ 147,884,115 $ 156,406,527 Ethanol Producing Equity Method Investments 225,804,939 239,476,419 All Other 315,420,953 296,653,249 Total 689,110,007 692,536,195 Reconciliation (541,225,892) (536,129,668) Consolidated $ 147,884,115 $ 156,406,527

Inventory

Inventory	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventory	INVENTORY Inventory consisted of the following as of June 30, 2023 and December 31, 2022: June 30, 2023 December 31, 2022* Raw materials $ 14,464,702 $ 12,397,256 Finished goods 1,794,888 10,050,394 Work in process 1,744,629 1,353,715 Parts inventory 1,708,896 1,994,346 $ 19,713,115 $ 25,795,711 *Derived from audited financial statements.

Investments, Equity Method and

Investments, Equity Method and Joint Ventures	6 Months Ended
	Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investments	INVESTMENTS Dakota Ethanol has a 5% investment interest in the Company’s ethanol marketer, Renewable Products Marketing Group, LLC ("RPMG"). The net income, which is reported in the Company’s income statement for RPMG, is based on RPMG’s March 31, 2023 unaudited interim results. The carrying amount of the Company’s investment was approximately $2,362,000 and $2,286,000 as of June 30, 2023 and December 31, 2022, respectively. Dakota Ethanol has a 10% investment interest in Lawrenceville Tanks, LLC ("LT"), a partnership which operates an ethanol storage terminal in Georgia. The net income, which is reported in the Company’s income statement for LT, is based on LT’s June 30, 2023 unaudited interim results. The carrying amount of the Company’s investment was approximately $369,000 and $216,000 as of June 30, 2023 and December 31, 2022, respectively. Lake Area Corn Processors has a 10% investment interest in Guardian Hankinson, LLC ("GH"), a partnership which operates an ethanol plant in North Dakota. The net income, which is reported in the Company’s income statement for GH, is based on GH’s June 30, 2023 unaudited interim results. The carrying amount of the Company’s investment was approximately $1,918,000 and $1,870,000 as of June 30, 2023 and December 31, 2022, respectively. Lake Area Corn Processors has a 17% investment interest in Guardian Energy Management, LLC ("GEM"), a partnership to provide management services to ethanol plants. The net income, which is reported in the Company’s income statement for GEM, is based on GEM’s June 30, 2023 unaudited interim results. The carrying amount of the Company’s investment was approximately $92,000 as of June 30, 2023 and December 31, 2022. Lake Area Corn Processors has a 12% investment interest in Ring-neck Energy and Feeds, LLC ("REF"), a partnership which operates an ethanol plant in South Dakota. The net income, which is reported in the Company’s income statement for REF, is based on REF’s June 30, 2023 unaudited interim results. The carrying amount of the Company’s investment was approximately $13,577,000 and $13,227,000 as of June 30, 2023 and December 31, 2022, respectively. The carrying amount of the investment exceeds the underlying equity in net assets by approximately $913,000. The excess is comprised of a basis adjustment of approximately $375,000 and capitalized interest of $538,000. The excess is amortized over 20 years from May 2019, the time the plant became operational. Condensed, combined unaudited financial information of the Company’s investments in RPMG, LT, GH, GEM and REF are as follows: Balance Sheet June 30, 2023 December 31, 2022 Current Assets $ 382,458,204 $ 376,111,612 Other Assets 158,767,688 160,018,056 Current Liabilities 323,130,599 334,797,023 Long-term Liabilities 31,487,715 36,462,751 Members' Equity 186,607,578 164,869,892 Three Months Ended Income Statement June 30, 2023 June 30, 2022 Revenue $ 186,556,116 $ 199,014,887 Gross Profit 23,270,276 23,018,114 Net Income 15,648,305 22,690,539 Six Months Ended Income Statement June 30, 2023 June 30, 2022 Revenue $ 353,515,585 $ 373,552,223 Gross Profit 38,712,106 30,112,849 Net Income 23,107,079 22,350,300 The following table shows the condensed financial information of Guardian Energy Hankinson; an investment which represents greater than 10% of the Company's income as of June 30, 2023. Balance Sheet June 30, 2023 December 31, 2022 Current Assets $ 38,075,918 $ 35,429,047 Other Assets 38,556,026 41,806,802 Current Liabilities 48,148,852 49,708,032 Long-term Liabilities 9,303,828 8,829,302 Members' Equity 19,179,264 18,698,514 Three Months Ended Income Statement June 30, 2023 June 30, 2022 Revenue $ 115,885,199 $ 129,086,443 Gross Profit 10,271,094 12,517,381 Net Income 8,473,381 17,934,167 Six Months Ended Income Statement June 30, 2023 June 30, 2022 Revenue $ 228,821,997 $ 238,485,185 Gross Profit 15,610,468 12,887,625 Net Income 12,480,750 17,483,177 The following table shows the condensed financial information of Ring-neck Energy & Feed; an investment which represents greater than 10% of the Company's assets as of June 30, 2023. Balance Sheet June 30, 2023 December 31, 2022 Current Assets $ 30,638,223 $ 46,040,175 Other Assets 118,534,772 116,200,396 Current Liabilities 20,129,739 30,950,092 Long-term Liabilities 22,183,887 27,633,449 Members' Equity 106,859,369 103,657,030 Three Months Ended Income Statement June 30, 2023 June 30, 2022 Revenue $ 66,075,829 $ 65,555,997 Gross Profit 9,974,439 7,496,411 Net Income 5,288,091 3,647,393 Six Months Ended Income Statement June 30, 2023 June 30, 2022 Revenue $ 115,760,486 $ 126,285,582 Gross Profit 17,173,135 11,285,046 Net Income 7,549,266 2,626,166 The Company recorded equity in net income of approximately $2,456,956 and $2,226,795 from our investments for the six months ended June 30, 2023, and 2022, respectively. The Company recorded equity in net income of approximately $1,593,161 and $2,228,338 from our investments for the three months ended June 30, 2023, and 2022, respectively.

Revolving Operating Note

Revolving Operating Note	6 Months Ended
	Jun. 30, 2023
Short Term Note Payable [Abstract]
Revolving Operating Note	REVOLVING PROMISSORY NOTEDakota Ethanol has a revolving promissory note with Farm Credit Services of America (FCSA) in the amount up to $2,000,000 or the amount available in accordance with the borrowing base calculation, whichever is less. There is a non-use fee of 0.25% per annum on the unused portion of the $2,000,000 availability. The note is collateralized by substantially all assets of the Company. The note expires on November 1, 2023. Interest on the outstanding principal balance will accrue at 305 basis points above the Secured Overnight Financing 30-day Average Rate ("SOFR 30"). The interest rate is not subject to a floor. The rate was 8.05% at June 30, 2023. On June 30, 2023, Dakota Ethanol had $0 outstanding and $2,000,000 available to be drawn on the revolving promissory note.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS The Company complies with the fair value measurements and disclosures standard, which defines fair value, establishes a framework for measuring fair value, and expands disclosure for those assets and liabilities carried on the balance sheet on a fair value basis. The Company’s balance sheet contains derivative financial instruments that are recorded at fair value on a recurring basis. Fair value measurements and disclosures require that assets and liabilities carried at fair value be classified and disclosed according to the process for determining fair value. There are three levels of determining fair value. Level 1 uses quoted market prices in active markets for identical assets or liabilities. Level 2 uses observable market based inputs or unobservable inputs that are corroborated by market data. Level 3 uses unobservable inputs that are not corroborated by market data. A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. Derivative financial instruments . Commodity futures contracts are reported at fair value utilizing Level 1 inputs. For these contracts, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes and live trading levels from the Chicago Board of Trade ("CBOT") and New York Mercantile Exchange ("NYMEX") markets. Over-the-counter commodity options contracts are reported at fair value utilizing Level 2 inputs. For these contracts, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes and live trading levels from the over-the-counter markets. Forward purchase contracts are reported at fair value utilizing Level 2 inputs. For these contracts, the Company obtains fair value measurements from local grain terminal bid values. The fair value measurements consider observable data that may include live trading bids from local elevators and processing plants which are based off the CBOT markets. The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022 segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Total Level 1 Level 2 Level 3 June 30, 2023 Assets: Derivative financial instruments, futures and options contracts $ 4,422,800 $ 4,422,800 $ — $ — Forward contracts $ — $ — $ — $ — Liabilities: Derivative financial instruments, futures and options contracts $ — $ — $ — $ — Forward contracts $ 7,148,676 $ — $ 7,148,676 $ — December 31, 2022* Assets: Derivative financial instruments, futures and options contracts $ 252,450 $ 252,450 $ — $ — Forward contracts $ 922,181 $ — $ 922,181 $ — Liabilities: Derivative financial instruments, futures and options contracts $ 395,300 $ 395,300 $ — $ — Forward contracts $ 435,053 $ — $ 435,053 $ — *Derived from audited financial statements. During the six months ended June 30, 2023, the Company did not make any changes between Level 1 and Level 2 assets and liabilities. As of June 30, 2023 and December 31, 2022, the Company did not have any Level 3 assets or liabilities. Certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). Financial assets and financial liabilities measured at fair value on a non-recurring basis were not significant at June 30, 2023 and December 31, 2022. Disclosure requirements for fair value of financial instruments require disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis. The methodologies for estimating the fair value of financial assets and financial liabilities that are measured at fair value on a recurring or non-recurring basis are discussed above. The Company believes the carrying amount of cash and cash equivalents (level 1), accounts receivable (level 2), accounts payable and accruals (level 2) and short-term debt (level 2) approximates fair value. The carrying amount of long-term obligations (level 3) at June 30, 2023 of $3,001,000 had an estimated fair value of approximately $3,001,000 based on estimated interest rates for comparable debt. The carrying amount of long-term obligations at December 31, 2022 of $4,001,000 had an estimated fair value of approximately $4,001,000.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Dakota Ethanol has a 5% interest in RPMG, and Dakota Ethanol has entered into marketing agreements for the exclusive rights to market, sell and distribute the entire ethanol, dried distillers grains and corn oil inventories produced by Dakota Ethanol. The marketing fees are included in net revenues. The Company also purchases denaturant from RPMG. Revenues and marketing fees related to the agreements as well as denaturant purchases are as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Revenues ethanol $ 57,489,031 $ 57,648,554 $ 115,957,781 $ 105,930,583 Revenues distillers dried grains 3,191,191 4,023,026 6,111,336 7,384,181 Revenues corn oil 3,736,026 4,963,592 8,580,237 9,098,200 Marketing fees ethanol 64,851 76,131 129,702 152,265 Marketing fees distillers dried grains 14,128 15,762 25,517 32,681 Marketing fees corn oil 14,632 14,122 30,935 28,433 Denaturant purchases 464,215 632,524 999,996 1,318,644 June 30, 2023 December 31, 2022* Amounts due to RPMG $ 43,366 $ 123,573 *Derived from audited financial statements. The Company purchased corn and services from members of its Board of Managers that farm and operate local businesses. Corn purchases from these related parties during the six months ended June 30, 2023 and 2022 totaled approximately $1,460,000 and $1,882,000, respectively. Corn purchases from these related parties during the three months ended June 30, 2023 and 2022 totaled approximately $1,175,000 and $1,037,000, respectively. As of June 30, 2023 and December 31, 2022, the Company had no outstanding obligations to these related parties.

Commitment and Contingencies

Commitment and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure	COMMITMENTS, CONTINGENCIES AND AGREEMENTS Agreements On June 24, 2022, Dakota Ethanol, LLC, entered into the Precedent Agreement West Leg 2023 Expansion between Northern Natural Gas Company and the Dakota Ethanol (the "West Leg Agreement"). Pursuant to the West Leg Agreement, Dakota Ethanol will receive additional firm commitment natural gas transportation services. In order to secure these firm commitment natural gas transportation services, Dakota Ethanol agrees to pay Northern Natural Gas Company a contribution to the cost of constructing certain additional natural gas pipeline and storage facilities. Dakota Ethanol's contribution is estimated to be $8,890,000, which has been paid in its entirety as of March 31, 2023. For a period of five years beginning on November 1, 2023, Dakota Ethanol is entitled to a firm natural gas commitment of 7,000 decatherms per day during the winter months (between November 1 and March 31 each year), and firm commitment of 4,340 decatherms per day during the summer months. The payments to Northern Natural Gas are included in other assets on the consolidated balance sheet. From time to time in the normal course of business, the Company can be subject to litigation based on its operations. There is no current litigation nor any litigation that is considered probable at this time.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Summary of Significant Accounting Policies [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	Goodwill Annually, as well as when an event triggering impairment may have occurred, the Company performs an impairment test on goodwill, which compares the fair value of the reporting unit with its carrying amount. An impairment charge is recognized, if necessary, for the amount by which the carrying value exceeds the fair value up to the amount of the goodwill attributed to the reporting unit. The Company performs the annual analysis as of December 31 of each fiscal year. The Company determined that there was no impairment of goodwill at December 31, 2022 or through June 30, 2023 on the basis that no triggering events were noted.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements of the Company include the accounts of its wholly owned subsidiary, Dakota Ethanol. All significant inter-company transactions and balances have been eliminated in consolidation.
Revenue Recognition	Revenue Recognition ASC Topic 606, Revenue from Contracts with Customers requires the Company to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance requires the Company to apply the following steps: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, the Company satisfies a performance obligation. The Company generally recognizes revenue at one point in time, as more thoroughly described below. The Company's contracts with customers generally have one performance obligation and a contract duration of one year or less. The following is a description of principal activities from which we generate revenue. Revenues from contracts with customers are recognized when control of the promised goods or services are transferred to our customers, in an amount that reflects the consideration that we expect to receive in exchange for those goods or services. Generally, ethanol and related products are shipped FOB shipping point and control of the goods transfers to customers when the goods are loaded into trucks or when rail cars are shipped. Consideration is based on predetermined contractual prices or on current market prices. • sales of ethanol • sales of distillers grains • sales of distillers corn oil Disaggregation of revenue: All revenue recognized in the income statement is considered to be revenue from contracts with customers. The following table depicts the disaggregation of revenue according to product line: Three Months Ended June 30 Six Months Ended June 30, 2023 2022 2023 2022 Revenues ethanol $ 57,424,180 $ 57,572,423 $ 115,828,049 $ 105,778,318 Revenues distillers grains 13,033,674 12,915,406 27,643,003 25,040,108 Revenues distillers corn oil 3,721,393 4,949,470 8,549,301 9,069,766 $ 74,179,247 $ 75,437,299 $ 152,020,353 $ 139,888,192 Contract assets and contract liabilities: The Company receives payments from customers based on contractual billing schedules and accounts receivable are recorded when the right to consideration becomes unconditional. Contract liabilities include payments received in advance of performance under the contract, and are realized with the associated revenue recognized under the contract. The Company has no significant contract assets or contract liabilities from contracts with customers at June 30, 2023 and December 31, 2022. Shipping costs Shipping costs incurred by the Company in the sale of ethanol, dried distillers grains and corn oil are not specifically identifiable, and as a result, revenue from the sale of those products is recorded based on the net selling price reported to the Company from the marketer. When the Company performs shipping and handling activities after the transfer of control to the customers (e.g., when control transfers prior to delivery), they are considered fulfillment activities, and accordingly, the costs are accrued for when the related revenue is recognized.
Operating Segment	Reporting SegmentOperating segments are defined as components of an enterprise for which separate financial information is available that is evaluated regularly by the chief operating decision maker or decision making group in deciding how to allocate resources and in assessing performance. The Company has determined that it has six (6) operating segments that give rise to two (2) reportable segments. See "Note 3 - Segments" in our Notes to Consolidated Financial Statements.
Cost of Revenues	Costs of Revenues The primary raw materials we use to produce ethanol, distillers grains and corn oil are corn and natural gas.
Inventory Valuation	Inventory Valuation Inventories are generally valued using methods which approximate the lower of cost (first-in, first-out) or net realizable value. In the valuation of inventories and purchase commitments, net realizable value is based on estimated selling prices in the ordinary course of business less reasonably predictable costs of completion, disposal and transportation. Cash and Cash Equivalents Cash and cash equivalents consist of demand accounts and other accounts with original maturities of three months or less that provide withdrawal privileges.
Receivables and Credit Policies	Receivables and Credit Policies Accounts receivable are uncollateralized customer obligations due under normal trade terms requiring payment within fifteen days from the invoice date. Unpaid accounts receivable with invoice dates over thirty days old bear interest at 1.5% per month. Accounts receivable are stated at the amount billed to the customer. Payments of accounts receivable are allocated to the specific invoices identified on the customer’s remittance advice or, if unspecified, are applied to the earliest unpaid invoices.
Investment in commodities contracts, derivative instruments and hedging activities	Investment in commodities contracts, derivative instruments and hedging activities The Company is exposed to certain risks related to its ongoing business operations including price risks on anticipated purchases of corn, natural gas, the sale of ethanol, distillers grains and distillers corn oil. The Company manages these risks by using forward, future and options derivative instruments. The Company is subject to market risk with respect to the price and availability of corn, the principal raw material the Company uses to produce ethanol and ethanol by-products. In general, unfavorable market conditions result from rising corn prices. This is especially true when market conditions do not allow us to pass along increased corn costs to our customers. The availability and price of corn are subject to wide fluctuations due to unpredictable factors such as weather conditions, farmer planting decisions, governmental policies with respect to agriculture and international trade and global demand and supply. Additionally, the crisis in Ukraine may effect the price of corn, and by extension, our business. Certain contracts that meet the definition of a derivative may be exempt from derivative accounting as normal purchases or normal sales. Normal purchases and normal sales are contracts that provide for the purchase or sale of something other than a financial instrument or derivative instrument that will be delivered in quantities expected to be used or sold over a reasonable period in the normal course of business. Contracts that meet the requirements of normal purchases or sales are documented as normal and exempted from the accounting and reporting requirements of derivative accounting. The Company does not apply the normal purchase and sales exemption for forward corn purchase contracts. As of June 30, 2023, the Company was committed to purchasing approximately 6.1 million bushels of corn on a forward contract basis with an average price of $6.16 per bushel. These corn purchases represent approximately 18% of our projected plant corn usage for the next 12 months. The Company enters into firm-price purchase commitments with natural gas suppliers under which the Company agrees to buy natural gas at a price set in advance of the actual delivery. Under these arrangements, the Company assumes the risk of a price decrease in the market price of natural gas between the time the price is fixed and the time the natural gas is delivered. At June 30, 2023, the Company is committed to purchasing approximately 1,304,000 MMBtus of natural gas with an average price of $3.65 per MMBtu. The Company accounts for these transactions as normal purchases, and accordingly, does not mark these transactions to market. The natural gas purchase contracts represent approximately 62% of the annual plant requirements. The Company enters into firm-price sales commitments with distillers grains customers under which the Company agrees to sell distillers grains at a price set in advance of the actual delivery. Under these arrangements, the Company assumes the risk of a price increase in the market price of distillers grain between the time the price is fixed and the time the distillers grains are delivered. At June 30, 2023, the Company was committed to selling approximately 40,000 dry equivalent tons of distillers grains with an average price of $206 per ton. The Company accounts for these transactions as normal sales, and accordingly, does not mark these transactions to market. The distillers grains sales represent approximately 18% of the projected annual plant production. The Company enters into firm-price sales commitments with distillers corn oil customers under which the Company agrees to sell distillers corn oil at a price set in advance of the actual delivery. Under these arrangements, the Company assumes the risk of a price increase in the market price of distillers corn oil between the time the price is fixed and the time the distillers corn oil is delivered. At June 30, 2023, the Company was committed to selling approximately 2.7 million pounds of distillers corn oil with an average price of $0.60 per pound. The Company accounts for these transactions as normal sales, and accordingly, does not mark these transactions to market. The distillers corn oil sales represent approximately 8% of the projected annual plant production. The Company did not have any firm-priced sales commitments for ethanol as of June 30, 2023. The Company enters into short-term forward, option and futures contracts for corn and natural gas as a means of managing exposure to changes in commodity and energy prices. All of the Company's derivatives are designated as non-hedge derivatives, and accordingly are recorded at fair value with changes in fair value recognized in net income, or a normal purchase, normal sale exemption is elected. Although the contracts are considered economic hedges of specified risks, they are not designated and accounted for as hedging instruments. As part of our trading activity, the Company uses futures and option contracts offered through regulated commodity exchanges to reduce risk of loss in the market value of inventories and purchase commitments. Derivatives not designated as hedging instruments at June 30, 2023 and December 31, 2022 were as follows: Balance Sheet Classification June 30, 2023 December 31, 2022* Corn forward contracts in gain position $ — $ 922,181 Futures contracts in gain position 4,422,800 252,450 Futures contracts in loss position — (395,300) Total forward, futures and options contracts 4,422,800 779,331 Cash held by broker 41,424 2,077,108 Current Assets $ 4,464,224 $ 2,856,439 Corn forward contracts in loss position Current Liabilities $ (7,148,676) $ (435,053) *Derived from audited financial statements Futures contracts and cash held by broker are all with one party, and the right of offset exists. Therefore, on the balance sheet, these items are netted in one balance regardless of position. Forward contracts are with multiple parties, and the right of offset does not exist. Therefore, these contracts are reported at the gross amounts on the balance sheet. Gains and losses related to derivative contracts related to corn and natural gas are included as a component of costs of revenues. Statement of Operations Three Months Ended June 30, Classification 2023 2022 Net realized and unrealized gains (losses) related to purchase contracts: Futures contracts Cost of Revenues $ 3,912,630 $ 3,157,895 Forward contracts Cost of Revenues (9,001,801) (2,816,323) Statement of Operations Six Months Ended June 30, Classification 2023 2022 Net realized and unrealized gains (losses) related to purchase contracts: Futures contracts Cost of Revenues $ 5,230,285 $ (5,402,629) Forward contracts Cost of Revenues (11,097,676) 1,390,873
Investments	Investments The Company has investment interests in five companies in related industries. All of these interests are at ownership shares less than 20%. These investments are flow-through entities and are being accounted for by the equity method of accounting under which the Company's share of net income is recognized as income in the Company's statements of operations and added to the investment account. Distributions or dividends received from the investments are treated as a reduction of the investment account. The Company consistently follows the practice of recognizing the net income based on the most recent reliable data.
Use of Estimates	Use of EstimatesThe preparation of financial statements requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include the fair value of derivative financial instruments, lower of cost or net realizable value accounting for inventory and goodwill and fixed asset impairment evaluation
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Risks and Uncertainties The Company has certain risks and uncertainties that it will experience during volatile market conditions, which can have a severe impact on operations. The Company's revenues are derived from the sale and distribution of ethanol and distiller grains to customers primarily located in the United States. Corn for the production process is supplied to the plant primarily from local agricultural producers and from purchases on the open market. For the three months ended June 30, 2023, ethanol sales averaged approximately 77% of total revenues, while approximately 18% of revenues were generated from the sale of distillers grains and 5% of revenues were generated from the sale of corn oil. For the six months ended June 30, 2023, ethanol sales averaged approximately 76% of total revenues, while approximately 18% of revenues were generated from the sale of distiller grains and 6% of revenues were generated from the sale of corn oil. The Company's operating and financial performance is largely driven by the prices at which it sells ethanol and the net expense of corn. The price of ethanol is influenced by factors such as supply and demand, weather, unleaded gasoline and the petroleum markets, government programs, global political or economic issues, including but not limited to, the war in Ukraine including sanctions associated therewith, shortages, export prices, crude oil prices, currency valuations and government policies in the United States and around the world, over which we have no control. Excess ethanol supply in the market, in particular, puts downward pressure on the price of ethanol. The Company's largest cost of production is corn. The cost of corn is generally impacted by factors such as supply and demand, weather, and government programs, global political or economic issues, including but not limited to the war in Ukraine including sanctions associated therewith, or global damaging growing conditions, such as plant disease or adverse weather, including drought, increased fertilizer costs as well as global conflicts. The Company's risk management program is used to protect against the price volatility of these commodities.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2023
Summary of Significant Accounting Policies [Abstract]
Disaggregation of Revenue	All revenue recognized in the income statement is considered to be revenue from contracts with customers. The following table depicts the disaggregation of revenue according to product line: Three Months Ended June 30 Six Months Ended June 30, 2023 2022 2023 2022 Revenues ethanol $ 57,424,180 $ 57,572,423 $ 115,828,049 $ 105,778,318 Revenues distillers grains 13,033,674 12,915,406 27,643,003 25,040,108 Revenues distillers corn oil 3,721,393 4,949,470 8,549,301 9,069,766 $ 74,179,247 $ 75,437,299 $ 152,020,353 $ 139,888,192
Derivatives Not Designated as Hedging Instruments	Derivatives not designated as hedging instruments at June 30, 2023 and December 31, 2022 were as follows: Balance Sheet Classification June 30, 2023 December 31, 2022* Corn forward contracts in gain position $ — $ 922,181 Futures contracts in gain position 4,422,800 252,450 Futures contracts in loss position — (395,300) Total forward, futures and options contracts 4,422,800 779,331 Cash held by broker 41,424 2,077,108 Current Assets $ 4,464,224 $ 2,856,439 Corn forward contracts in loss position Current Liabilities $ (7,148,676) $ (435,053) *Derived from audited financial statements
Net realized and unrealized gains (losses) related to purchase contracts	Statement of Operations Three Months Ended June 30, Classification 2023 2022 Net realized and unrealized gains (losses) related to purchase contracts: Futures contracts Cost of Revenues $ 3,912,630 $ 3,157,895 Forward contracts Cost of Revenues (9,001,801) (2,816,323) Statement of Operations Six Months Ended June 30, Classification 2023 2022 Net realized and unrealized gains (losses) related to purchase contracts: Futures contracts Cost of Revenues $ 5,230,285 $ (5,402,629) Forward contracts Cost of Revenues (11,097,676) 1,390,873

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables set forth certain financial data for the Company's reportable segments: Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 unaudited unaudited unaudited unaudited Net Sales Production $ 74,179,247 $ 75,437,299 $ 152,020,353 $ 139,888,192 Ethanol Producing Equity Method Investments 181,961,028 194,642,440 344,582,483 364,770,767 All Other 4,595,088 4,372,447 8,933,102 8,781,456 Total 260,735,363 274,452,186 505,535,938 513,440,415 Reconciliation (186,556,116) (199,014,887) (353,515,585) (373,552,223) Consolidated $ 74,179,247 $ 75,437,299 $ 152,020,353 $ 139,888,192 Gross Profit: Production $ 5,831,008 $ 8,835,660 $ 9,729,602 $ 11,528,459 Ethanol Producing Equity Method Investments 20,245,533 20,013,792 32,783,603 24,172,671 All Other 3,024,743 3,004,322 5,928,503 5,940,178 Total 29,101,284 31,853,774 48,441,708 41,641,308 Reconciliation (23,270,276) (23,018,114) (38,712,106) (30,112,849) Consolidated $ 5,831,008 $ 8,835,660 $ 9,729,602 $ 11,528,459 Net Income: Production $ 8,628,786 $ 11,122,974 $ 12,045,846 $ 12,788,173 Ethanol Producing Equity Method Investments 13,761,472 21,581,560 20,030,016 20,109,343 All Other 1,870,416 1,108,979 3,077,063 2,240,957 Total 24,260,674 33,813,513 35,152,925 35,138,473 Reconciliation (15,631,888) (22,690,539) (23,107,079) (22,350,300) Consolidated $ 8,628,786 $ 11,122,974 $ 12,045,846 $ 12,788,173 June 30, 2023 December 31, 2022 unaudited audited Total Assets Production $ 147,884,115 $ 156,406,527 Ethanol Producing Equity Method Investments 225,804,939 239,476,419 All Other 315,420,953 296,653,249 Total 689,110,007 692,536,195 Reconciliation (541,225,892) (536,129,668) Consolidated $ 147,884,115 $ 156,406,527

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consisted of the following as of June 30, 2023 and December 31, 2022: June 30, 2023 December 31, 2022* Raw materials $ 14,464,702 $ 12,397,256 Finished goods 1,794,888 10,050,394 Work in process 1,744,629 1,353,715 Parts inventory 1,708,896 1,994,346 $ 19,713,115 $ 25,795,711 *Derived from audited financial statements.

Investments, Equity Method an_2

Investments, Equity Method and Joint Ventures (Tables)	6 Months Ended
	Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Condensed, combined unaudited financial information of the Company’s investments in RPMG, LT, GH, GEM and REF are as follows: Balance Sheet June 30, 2023 December 31, 2022 Current Assets $ 382,458,204 $ 376,111,612 Other Assets 158,767,688 160,018,056 Current Liabilities 323,130,599 334,797,023 Long-term Liabilities 31,487,715 36,462,751 Members' Equity 186,607,578 164,869,892 Three Months Ended Income Statement June 30, 2023 June 30, 2022 Revenue $ 186,556,116 $ 199,014,887 Gross Profit 23,270,276 23,018,114 Net Income 15,648,305 22,690,539 Six Months Ended Income Statement June 30, 2023 June 30, 2022 Revenue $ 353,515,585 $ 373,552,223 Gross Profit 38,712,106 30,112,849 Net Income 23,107,079 22,350,300 The following table shows the condensed financial information of Guardian Energy Hankinson; an investment which represents greater than 10% of the Company's income as of June 30, 2023. Balance Sheet June 30, 2023 December 31, 2022 Current Assets $ 38,075,918 $ 35,429,047 Other Assets 38,556,026 41,806,802 Current Liabilities 48,148,852 49,708,032 Long-term Liabilities 9,303,828 8,829,302 Members' Equity 19,179,264 18,698,514 Three Months Ended Income Statement June 30, 2023 June 30, 2022 Revenue $ 115,885,199 $ 129,086,443 Gross Profit 10,271,094 12,517,381 Net Income 8,473,381 17,934,167 Six Months Ended Income Statement June 30, 2023 June 30, 2022 Revenue $ 228,821,997 $ 238,485,185 Gross Profit 15,610,468 12,887,625 Net Income 12,480,750 17,483,177 Balance Sheet June 30, 2023 December 31, 2022 Current Assets $ 30,638,223 $ 46,040,175 Other Assets 118,534,772 116,200,396 Current Liabilities 20,129,739 30,950,092 Long-term Liabilities 22,183,887 27,633,449 Members' Equity 106,859,369 103,657,030 Three Months Ended Income Statement June 30, 2023 June 30, 2022 Revenue $ 66,075,829 $ 65,555,997 Gross Profit 9,974,439 7,496,411 Net Income 5,288,091 3,647,393 Six Months Ended Income Statement June 30, 2023 June 30, 2022 Revenue $ 115,760,486 $ 126,285,582 Gross Profit 17,173,135 11,285,046 Net Income 7,549,266 2,626,166

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The balances of the notes payable are as follows. The balances reflect the updated agreement: June 30, 2023 December 31, 2022 Term Note Payable $ 3,000,000 $ 4,000,000 Revolving Note Payable 1,000 1,000 Less unamortized debt issuance costs (1,896) (2,771) 2,999,104 3,998,229 Less current portion — (1,000,000) $ 2,999,104 $ 2,998,229 *Derived from audited financial statements
Schedule of Principal repayment and amortization of debt issuance cost	Principal maturities for the remainder of the Note are estimated as follows. Periods Ending June 30, Principal 2024 $ — 2025 1,000,000 2026 2,001,000 $ 3,001,000

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022 segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Total Level 1 Level 2 Level 3 June 30, 2023 Assets: Derivative financial instruments, futures and options contracts $ 4,422,800 $ 4,422,800 $ — $ — Forward contracts $ — $ — $ — $ — Liabilities: Derivative financial instruments, futures and options contracts $ — $ — $ — $ — Forward contracts $ 7,148,676 $ — $ 7,148,676 $ — December 31, 2022* Assets: Derivative financial instruments, futures and options contracts $ 252,450 $ 252,450 $ — $ — Forward contracts $ 922,181 $ — $ 922,181 $ — Liabilities: Derivative financial instruments, futures and options contracts $ 395,300 $ 395,300 $ — $ — Forward contracts $ 435,053 $ — $ 435,053 $ —

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Revenues and marketing fees related to the agreements as well as denaturant purchases are as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Revenues ethanol $ 57,489,031 $ 57,648,554 $ 115,957,781 $ 105,930,583 Revenues distillers dried grains 3,191,191 4,023,026 6,111,336 7,384,181 Revenues corn oil 3,736,026 4,963,592 8,580,237 9,098,200 Marketing fees ethanol 64,851 76,131 129,702 152,265 Marketing fees distillers dried grains 14,128 15,762 25,517 32,681 Marketing fees corn oil 14,632 14,122 30,935 28,433 Denaturant purchases 464,215 632,524 999,996 1,318,644 June 30, 2023 December 31, 2022* Amounts due to RPMG $ 43,366 $ 123,573

Nature of Operations (Details)

Nature of Operations (Details) gal in Millions	6 Months Ended
	Jun. 30, 2023 gal
Product Information [Line Items]
Equity Method Investments, Number of Entities	5
Product [Member] | Ethanol [Member]
Product Information [Line Items]
Annual production capacity	100

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Revenue from customers (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	$ 74,179,247	$ 75,437,299	$ 152,020,353	$ 139,888,192
Contract with Customer, Liability	0		0		$ 0
Ethanol [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	57,424,180	57,572,423	115,828,049	105,778,318
Distillers Grain [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	13,033,674	12,915,406	27,643,003	25,040,108
Corn Oil [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	$ 3,721,393	$ 4,949,470	$ 8,549,301	$ 9,069,766

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Receivables and Credit Policies (Details) - USD ($)	3 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Receivables [Abstract]
Payment term	15 days
Payment term before interest is applied	30 days
Trade Receivable, Unpaid Balance, Interest Rate	1.50%
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount	$ 0	$ 0

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Derivative Instruments - Balance Sheet (Details) bu in Millions	Jun. 30, 2023 USD ($) bu T MMBTU	Dec. 31, 2022 USD ($)
Derivatives, Fair Value [Line Items]
Derivative Instruments and Hedges, Assets	$ 4,464,224	$ 2,856,439
Derivative Instruments and Hedges, Liabilities	7,148,676	435,053
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative assets, current	4,422,800	779,331
Current Assets [Member]
Derivatives, Fair Value [Line Items]
Cash held by broker	41,424	2,077,108
Current Assets [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments and Hedges, Assets	4,464,224	2,856,439
Derivative Instruments and Hedges, Liabilities	0	(922,181)
Other Current Liabilities [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments and Hedges, Liabilities	$ 7,148,676	435,053
Corn [Member]
Derivatives, Fair Value [Line Items]
Number of instruments held | bu	6.1
Purchase Commitment, Per unit	$ 6.16
Natural Gas [Member]
Derivatives, Fair Value [Line Items]
Number of instruments held | MMBTU	1,304,000
Purchase Commitment, Per unit	$ 3.65
Percent of required need, coverage	62%
Distillers Grain [Member]
Derivatives, Fair Value [Line Items]
Purchase Commitment, Per unit	$ 206
Percent of required need, coverage	18%
Corn Oil [Member]
Derivatives, Fair Value [Line Items]
Purchase Commitment, Per unit	$ 0.60
Distillers Grain [Domain]
Derivatives, Fair Value [Line Items]
Number of instruments held | T	40,000
Distillers Corn Oil [Domain]
Derivatives, Fair Value [Line Items]
Number of instruments held | bu	2.7
Percent of required need, coverage	8%
Futures contracts in gain position [Member] | Future [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative assets, current	$ 4,422,800	252,450
Futures Contracts held in loss position [Member] | Future [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, current	$ 0	$ (395,300)

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Derivative Instruments - Income Statement (Details) - Not Designated as Hedging Instrument [Member] - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Future [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 3,912,630	$ 3,157,895	$ 5,230,285	$ (5,402,629)
Forward Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ (9,001,801)	$ (2,816,323)	$ (11,097,676)	$ 1,390,873

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Investments (Details)	Jun. 30, 2023
Accounting Policies [Abstract]
Equity Method Investments, Number of Entities	5
Percent of Ownership, Equity Investment	20%

Summary of Significant Accoun_9

Summary of Significant Accounting Policies Goodwill (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Asset Impairment	$ 0	$ 0

Summary of Significant Accou_10

Summary of Significant Accounting Policies Concentration Risk (Details) - Product Concentration Risk - Revenue, Segment Benchmark	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Ethanol [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	77%	76%
Distillers Grain [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	18%	18%
Corn Oil [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	5%	6%

Segment Reporting (Details)

Segment Reporting (Details)	3 Months Ended				6 Months Ended
	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Jun. 30, 2023 USD ($) numberOfSegments	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUES	$ (74,179,247)		$ (75,437,299)		$ (152,020,353)	$ (139,888,192)
Gross Profit	5,831,008		8,835,660		9,729,602	11,528,459
Net Income	8,628,786	$ 3,417,060	11,122,974	$ 1,665,199	12,045,846	12,788,173
Interest and other income	2,578,911		1,242,944		2,775,376	1,497,493
Interest Expense	71,150		31,953		161,442	64,680
Depreciation and amortization					2,786,995	2,453,326
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	147,884,115				147,884,115		$ 156,406,527
Investments	(18,317,967)				$ (18,317,967)		(17,691,011)
Number of Reportable Segments | numberOfSegments					2
Production
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUES	(74,179,247)		(75,437,299)		$ (152,020,353)	(139,888,192)
Gross Profit	5,831,008		8,835,660		9,729,602	11,528,459
Net Income	8,628,786		11,122,974		12,045,846	12,788,173
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	147,884,115				147,884,115		156,406,527
Ethanol Producing Equity method Investments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUES	(181,961,028)		(194,642,440)		(344,582,483)	(364,770,767)
Gross Profit	20,245,533		20,013,792		32,783,603	24,172,671
Net Income	13,761,472		21,581,560		20,030,016	20,109,343
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	225,804,939				225,804,939		239,476,419
Other Equity Method Investments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUES	(4,595,088)		(4,372,447)		(8,933,102)	(8,781,456)
Gross Profit	3,024,743		3,004,322		5,928,503	5,940,178
Net Income	1,870,416		1,108,979		3,077,063	2,240,957
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	315,420,953				315,420,953		296,653,249
Combined Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUES	(260,735,363)		(274,452,186)		(505,535,938)	(513,440,415)
Gross Profit	29,101,284		31,853,774		48,441,708	41,641,308
Net Income	24,260,674		33,813,513		35,152,925	35,138,473
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	689,110,007				689,110,007		692,536,195
Non-production members
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUES	(186,556,116)		(199,014,887)		(353,515,585)	(373,552,223)
Gross Profit	(23,270,276)		(23,018,114)		(38,712,106)	(30,112,849)
Net Income	(15,631,888)		$ (22,690,539)		(23,107,079)	$ (22,350,300)
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ (541,225,892)				$ (541,225,892)		$ (536,129,668)

Inventory (Details)

Inventory (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Inventory [Line Items]
Raw Materials	$ 14,464,702	$ 12,397,256
Finished Goods	1,794,888	10,050,394
Work in Process	1,744,629	1,353,715
Parts Inventory	1,708,896	1,994,346
Inventory	19,713,115	25,795,711
Inventory Write-down	$ 0	$ 2,000

Investments (Details)

Investments (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Investments	$ 18,317,967		$ 18,317,967			$ 17,691,011
Equity in net income (loss) of investments	1,593,161	$ 2,228,338	2,456,956	$ 2,226,795
Schedule of Equity Method Investments [Line Items]
Assets, Current	50,312,367		50,312,367			59,455,069
Liabilities, Current	27,979,129		27,979,129			45,460,292
Liabilities, Noncurrent	2,999,104		2,999,104			2,998,229
Members' Equity	116,905,882	111,200,871	116,905,882	111,200,871	$ 111,239,096	107,948,006	$ 100,077,897	$ 113,468,865
REVENUES	74,179,247	75,437,299	152,020,353	139,888,192
Gross Profit	5,831,008	8,835,660	9,729,602	11,528,459
Equity in net income (loss) of investments	1,593,161	2,228,338	2,456,956	2,226,795
Investments	$ 18,317,967		$ 18,317,967			17,691,011
Percent of Ownership, Equity Investment	20%		20%
Other Investments Combined [Member]
Equity Method Investments and Joint Ventures [Abstract]
Equity in net income (loss) of investments	$ 1,593,161	2,228,338	$ 2,456,956	2,226,795
Schedule of Equity Method Investments [Line Items]
Equity in net income (loss) of investments	$ 1,593,161	2,228,338	$ 2,456,956	2,226,795
Guardian Hankinson, LLC
Equity Method Investments and Joint Ventures [Abstract]
Ownership percentage	10%		10%
Schedule of Equity Method Investments [Line Items]
Ownership percentage	10%		10%
Ring-neck Energy and Feeds [Member]
Equity Method Investments and Joint Ventures [Abstract]
Ownership percentage	10%		10%
Schedule of Equity Method Investments [Line Items]
Ownership percentage	10%		10%
Ring-neck Energy and Feeds [Member]
Equity Method Investments and Joint Ventures [Abstract]
Investments	$ 13,577,000		$ 13,577,000			13,227,000
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity, Accounting Treatment			913,000
Basis adjustment			$ 375,000
Capitalized interest			$ 538,000
Amortization period for amortization of investment premium			20 years
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity, Accounting Treatment			913,000
Basis adjustment			$ 375,000
Capitalized interest			$ 538,000
Amortization period for amortization of investment premium			20 years
Investments	$ 13,577,000		$ 13,577,000			13,227,000
Percent of Ownership, Equity Investment	12%		12%
Renewable Products Marketing Group, LLC (RPMG) [Member]
Equity Method Investments and Joint Ventures [Abstract]
Investments	$ 2,362,000		$ 2,362,000			2,286,000
Schedule of Equity Method Investments [Line Items]
Investments	$ 2,362,000		$ 2,362,000			2,286,000
Percent of Ownership, Equity Investment	5%		5%
Lawrenceville Tanks, LLC [Member]
Equity Method Investments and Joint Ventures [Abstract]
Investments	$ 369,000		$ 369,000			216,000
Schedule of Equity Method Investments [Line Items]
Investments	$ 369,000		$ 369,000			216,000
Percent of Ownership, Equity Investment	10%		10%
Guardian Hankinson, LLC
Equity Method Investments and Joint Ventures [Abstract]
Investments	$ 1,918,000		$ 1,918,000			1,870,000
Schedule of Equity Method Investments [Line Items]
Investments	$ 1,918,000		$ 1,918,000			1,870,000
Percent of Ownership, Equity Investment	10%		10%
Guardian Energy Management [Member]
Equity Method Investments and Joint Ventures [Abstract]
Investments	$ 92,000		$ 92,000			92,000
Schedule of Equity Method Investments [Line Items]
Investments	$ 92,000		$ 92,000			92,000
Percent of Ownership, Equity Investment	17%		17%
Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Assets, Current	$ 382,458,204		$ 382,458,204			376,111,612
Other Assets	158,767,688		158,767,688			160,018,056
Liabilities, Current	323,130,599		323,130,599			334,797,023
Liabilities, Noncurrent	31,487,715		31,487,715			36,462,751
Members' Equity	186,607,578		186,607,578			164,869,892
REVENUES	186,556,116	199,014,887	353,515,585	373,552,223
Gross Profit	23,270,276	23,018,114	38,712,106	30,112,849
Net Income (Loss) Attributable to Noncontrolling Interest	15,648,305	22,690,539	23,107,079	22,350,300
Equity Method Investments | Ring-neck Energy and Feeds [Member]
Schedule of Equity Method Investments [Line Items]
Assets, Current	30,638,223		30,638,223			46,040,175
Other Assets	118,534,772		118,534,772			116,200,396
Liabilities, Current	20,129,739		20,129,739			30,950,092
Liabilities, Noncurrent	22,183,887		22,183,887			27,633,449
Members' Equity	106,859,369		106,859,369			103,657,030
REVENUES	66,075,829	65,555,997	115,760,486	126,285,582
Gross Profit	9,974,439	7,496,411	17,173,135	11,285,046
Net Income (Loss) Attributable to Noncontrolling Interest	5,288,091	3,647,393	7,549,266	2,626,166
Equity Method Investments | Guardian Hankinson, LLC
Schedule of Equity Method Investments [Line Items]
Assets, Current	38,075,918		38,075,918			35,429,047
Other Assets	38,556,026		38,556,026			41,806,802
Liabilities, Current	48,148,852		48,148,852			49,708,032
Liabilities, Noncurrent	9,303,828		9,303,828			8,829,302
Members' Equity	19,179,264		19,179,264			$ 18,698,514
REVENUES	115,885,199	129,086,443	228,821,997	238,485,185
Gross Profit	10,271,094	12,517,381	15,610,468	12,887,625
Net Income (Loss) Attributable to Noncontrolling Interest	$ 8,473,381	$ 17,934,167	$ 12,480,750	$ 17,483,177

Revolving Operating Note (Detai

Revolving Operating Note (Details) - Farm Credit Services of America [Member] - Revolving Credit Facility [Member]	3 Months Ended
	Jun. 30, 2023 USD ($)
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 2,000,000
Unused capacity, commitment fee percentage	0.25%
Basis spread on variable rate	30,500%
Interest rate	8.05%
Line of Credit Facility, Fair Value of Amount Outstanding	$ 0
Line of Credit Facility, Commitment Fee Amount	$ 2,000,000
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Line of Credit Facility [Line Items]
Debt Instrument, Description of Variable Rate Basis	Secured Overnight Financing 30-day Average Rate ("SOFR 30")

Debt (Details)

Debt (Details) - USD ($)	3 Months Ended
	Jun. 30, 2023	Jul. 01, 2025	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term debt, gross	$ 3,001,000
Unamortized debt issuance expense	(1,896)		$ (2,771)
Long-term debt	2,999,104		3,998,229
Long-term debt, current maturities	0		(1,000,000)
Notes payable	2,999,104		2,998,229
2020	0
2021	1,000,000
2022	2,001,000
Notes Payable	1,000		1,000
Farm Credit Services of America [Member]
Debt Instrument [Line Items]
Minimum Net Worth Required for Compliance	28,000,000
Long-term debt, gross	3,000,000		$ 4,000,000
working capital covenant	13,500,000
Farm Credit Services of America [Member] | Medium-term Notes [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	8,000,000
Farm Credit Services of America [Member] | Short-Term Debt, Type [Domain]
Debt Instrument [Line Items]
Annual principal payment	$ 1,000,000
Basis spread on variable rate	33,000%
Interest rate	8.30%
Line of Credit Facility, Fair Value of Amount Outstanding	$ 3,000,000
Farm Credit Services of America [Member] | Short-Term Debt, Type [Domain] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis	the SOFR 30
Farm Credit Services of America [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	30,500%
Interest rate	8.05%
Maximum borrowing capacity	$ 2,000,000
Remaining borrowing capacity	$ 2,000,000
Unused capacity, commitment fee percentage	0.25%
Line of Credit Facility, Fair Value of Amount Outstanding	$ 0
Farm Credit Services of America [Member] | Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis	Secured Overnight Financing 30-day Average Rate ("SOFR 30")
Farm Credit Services of America [Member] | Reducing Revolving Promissory Note
Debt Instrument [Line Items]
Basis spread on variable rate	3.30%
Interest rate	830%
Maximum borrowing capacity	$ 48,000,000
Remaining borrowing capacity	$ 40,999,000
Unused capacity, commitment fee percentage	0.50%
Line of Credit Facility, Fair Value of Amount Outstanding	$ 1,000
Line of Credit Facility, Semi-annual Maximum Reduction	$ 1,750,000
Farm Credit Services of America [Member] | Reducing Revolving Promissory Note | Subsequent Event [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 32,250,000
Farm Credit Services of America [Member] | Reducing Revolving Promissory Note | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis	SOFR 30
Revolving Credit Facility [Member] | Farm Credit Services of America [Member] | Debt Service Coverage Ratio
Debt Instrument [Line Items]
Debt Instrument, Covenant Description	1.25

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, gross	$ 3,001,000
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, gross	3,001,000	$ 4,001,000
Long-term debt, fair value	3,001,000	4,001,000
Fair Value, Recurring [Member] | Future [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	4,422,800	252,450
Derivative liability	0	(395,300)
Fair Value, Recurring [Member] | Future [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	4,422,800	252,450
Derivative liability	0	(395,300)
Fair Value, Recurring [Member] | Future [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	0	0
Derivative liability	0	0
Fair Value, Recurring [Member] | Future [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	0	0
Derivative liability	0	0
Fair Value, Recurring [Member] | Forward Contracts [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	0	922,181
Derivative liability	(7,148,676)	(435,053)
Fair Value, Recurring [Member] | Forward Contracts [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	0	0
Derivative liability	0	0
Fair Value, Recurring [Member] | Forward Contracts [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	0	922,181
Derivative liability	(7,148,676)	(435,053)
Fair Value, Recurring [Member] | Forward Contracts [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	0	0
Derivative liability	$ 0	$ 0

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Percent of Ownership, Equity Investment	20%		20%
Renewable Products Marketing Group, LLC (RPMG) [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Due from (to) Related Party	$ 43,366		$ 43,366		$ 123,573
Percent of Ownership, Equity Investment	5%		5%
Board of Managers Members
Related Party Transaction [Line Items]
Purchases from related party	$ 1,175,000	$ 1,037,000	$ 1,460,000	$ 1,882,000
Due to related parties	0		0		$ 0
Ethanol [Member] | Renewable Products Marketing Group, LLC (RPMG) [Member]
Related Party Transaction [Line Items]
Revenue, related party	57,489,031	57,648,554	115,957,781	105,930,583
Marketing fees, related party	64,851	76,131	129,702	152,265
Distillers Grain [Member] | Renewable Products Marketing Group, LLC (RPMG) [Member]
Related Party Transaction [Line Items]
Revenue, related party	3,191,191	4,023,026	6,111,336	7,384,181
Marketing fees, related party	14,128	15,762	25,517	32,681
Corn Oil [Member] | Renewable Products Marketing Group, LLC (RPMG) [Member]
Related Party Transaction [Line Items]
Revenue, related party	3,736,026	4,963,592	8,580,237	9,098,200
Marketing fees, related party	14,632	14,122	30,935	28,433
Denaturant [Member] | Renewable Products Marketing Group, LLC (RPMG) [Member]
Related Party Transaction [Line Items]
Marketing fees, related party	$ 464,215	$ 632,524	$ 999,996	$ 1,318,644

Commitment and Contingencies (D

Commitment and Contingencies (Details) - Electricity And Natural Gas	3 Months Ended	6 Months Ended
	Jun. 30, 2023 USD ($) Bcf	Jun. 30, 2023 USD ($) Bcf
Commitments and Contingencies Disclosure [Abstract]
Purchase Commitment, estimated total contribution | $	$ 8,890,000	$ 8,890,000
Purchase Commitment, estimated total contribution | $	$ 8,890,000	$ 8,890,000
November - March 31
Commitments and Contingencies Disclosure [Abstract]
Long-Term Purchase Commitment, Minimum Volume Required		7,000
Long-Term Purchase Commitment, Minimum Volume Required		7,000
Summer Months
Commitments and Contingencies Disclosure [Abstract]
Long-Term Purchase Commitment, Minimum Volume Required	4,340
Long-Term Purchase Commitment, Minimum Volume Required	4,340

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member]	Aug. 09, 2023 USD ($)
Subsequent Event [Line Items]
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Declared	$ 2,962,000
Distribution Declared, per Unit	$ 0.10