Lake Area Corn Processors (LKCRU) 10-Q 14 Nov 23 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Nov. 14, 2023
Document and Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Sep. 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	9 Months Ended
	Sep. 30, 2023 USD ($) shares	Sep. 30, 2023 USD ($) shares	Dec. 31, 2022 USD ($)
CURRENT ASSETS
Accounts receivable	$ 5,711,980	$ 5,711,980	$ 2,933,904
Inventory	10,865,290	10,865,290	25,795,711
Derivative financial instruments	940,251	940,251	2,856,439
Prepaid expenses	1,881,746	1,881,746	864,810
Total current assets	19,539,445	19,539,445	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	467,595	467,595	13,366
Gross Property and Equipment	127,548,996	127,548,996	127,092,727
Less accumulated depreciation	(67,773,610)	(67,773,610)	(63,611,356)
Net property and equipment	59,775,386	59,775,386	63,481,371
OTHER ASSETS
Goodwill	10,395,766	10,395,766	10,395,766
Investments	64,810,773	64,810,773	17,691,011
Other	7,329,482	7,329,482	5,383,310
Total other assets	82,536,021	82,536,021	33,470,087
TOTAL ASSETS	161,850,852	161,850,852	156,406,527
CURRENT LIABILITIES
Outstanding checks in excess of bank balance	2,248,293	2,248,293	4,200,281
Accounts payable	16,314,310	16,314,310	39,105,845
Accrued liabilities	817,196	817,196	719,113
Derivative financial instruments	2,126,641	2,126,641	435,053
Current maturities of notes payable	0	0	1,000,000
Total current liabilities	21,506,440	21,506,440	45,460,292
LONG-TERM LIABILITIES
Notes payable	10,285,762	10,285,762	2,998,229
Total long-term liabilities	10,285,762	10,285,762	2,998,229
MEMBERS' EQUITY (29,620,000 units issued and outstanding)	130,058,650	130,058,650	107,948,006
TOTAL LIABILITIES AND MEMBERS' EQUITY	161,850,852	161,850,852	156,406,527
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents	$ 140,178	$ 140,178	$ 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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
REVENUES	$ 66,916,014	$ 74,210,499	$ 218,936,367	$ 214,098,692
COSTS OF REVENUES	52,638,653	66,808,651	194,929,404	195,168,386
Gross Profit	14,277,361	7,401,848	24,006,963	18,930,306
OPERATING EXPENSES	1,255,336	1,268,468	4,009,982	3,668,362
INCOME (LOSS) FROM OPERATIONS	13,022,025	6,133,380	19,996,981	15,261,944
OTHER INCOME (EXPENSE)
Interest and other income	640,251	61,607	3,415,627	1,559,100
Equity in net income (loss) of investments	2,468,182	315,273	4,925,138	2,542,068
Interest expense	(15,690)	(568)	(177,132)	(65,247)
Total other income (expense)	3,092,743	376,312	8,163,633	4,035,921
NET INCOME (LOSS)	$ 16,114,768	$ 6,509,692	$ 28,160,614	$ 19,297,865
Net Income (Loss), Per Outstanding Limited Partnership and General Partnership Unit, Basic and Diluted, Net of Tax	$ 0.54	$ 0.22	$ 0.95	$ 0.65
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	$ 0.40	$ 0.20	$ 0.91

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	19,297,865
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Paid	(26,906,187)
Balance at the end of period at Sep. 30, 2022	105,860,543
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	6,509,692
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Paid	(11,850,020)
Balance at the end of period at Sep. 30, 2022	105,860,543
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	28,160,614
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Paid	(6,049,970)
Balance at the end of period at Sep. 30, 2023	130,058,650
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	16,114,768
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Paid	(2,962,000)
Balance at the end of period at Sep. 30, 2023	$ 130,058,650

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
OPERATING ACTIVITIES
Net income	$ 28,160,614	$ 19,297,865
Adjustments to reconcile net income to cash provided by operating activities
Depreciation and amortization	4,175,464	3,716,018
Distributions in excess of earnings from investments	(2,920,137)	4,362,932
Gain (Loss) on Disposition of Property Plant Equipment	0	(49,842)
(Increase) decrease in
Accounts receivable	(2,778,076)	(7,063,606)
Inventory	14,930,420	6,766,473
Prepaid expenses	612,898	527,727
Increase (Decrease) in Derivative Assets and Liabilities	3,607,776	(1,537,918)
Accounts payable	(22,187,119)	(15,670,376)
Accrued and other liabilities	98,083	(176,682)
NET CASH PROVIDED BY OPERATING ACTIVITIES	23,699,923	10,272,275
Payments for (Proceeds from) Other Investing Activities	(3,556,000)	(2,667,000)
INVESTING ACTIVITIES
Purchase of property and equipment	(1,060,685)	(8,408,787)
Payments to Acquire Assets, Investing Activities	(44,199,624)	0
NET CASH (USED IN) INVESTING ACTIVITIES	(48,816,309)	(11,075,787)
FINANCING ACTIVITIES
Increase (decrease) in outstanding checks in excess of bank balance	(1,951,989)	478,473
Borrowings on notes payable	16,235,318	13,498,000
Principal payments on notes payable	(9,981,000)	(14,497,000)
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Paid	(6,049,970)	(26,906,187)
NET CASH PROVIDED BY FINANCING ACTIVITIES	(1,747,641)	(27,426,714)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(26,864,027)	(28,230,226)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents	140,178	9,765,084
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid during the period for interest, net of capitalized interest of $9,980 and $87,847 in 2023 and 2022, respectively.	203,066	92,619
Capital expenditures in accounts payable	$ 0	$ 773,849

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Statement of Cash Flows [Abstract]
Capitalized interest	$ 6,103	$ 69,414

Nature of Operations

Nature of Operations	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 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 nine months ended September 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 September 30 Nine Months Ended September 30, 2023 2022 2023 2022 Revenues ethanol $ 51,342,538 $ 56,385,702 $ 167,170,587 $ 162,164,019 Revenues distillers grains 11,104,926 12,922,675 38,747,929 37,962,783 Revenues distillers corn oil 4,468,550 4,902,122 13,017,851 13,971,890 $ 66,916,014 $ 74,210,499 $ 218,936,367 $ 214,098,692 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 September 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 September 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 September 30, 2023, the Company was committed to purchasing approximately 4.0 million bushels of corn on a forward contract basis with an average price of $5.04 per bushel. These corn purchases represent approximately 12% 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 September 30, 2023, the Company is committed to purchasing approximately 1,192,000 MMBtus of natural gas with an average price of $3.68 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 57% 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 September 30, 2023, the Company was committed to selling approximately 57,000 dry equivalent tons of distillers grains with an average price of $192 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 25% 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 September 30, 2023, the Company was committed to selling approximately 3.2 million pounds of distillers corn oil with an average price of $0.72 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 9% of the projected annual plant production. The Company did not have any firm-priced sales commitments for ethanol as of September 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 September 30, 2023 and December 31, 2022 were as follows: Balance Sheet Classification September 30, 2023 December 31, 2022* Corn forward contracts in gain position $ 35 $ 922,181 Futures contracts in gain position 265,388 252,450 Futures contracts in loss position (3,388) (395,300) Total forward, futures and options contracts 262,035 779,331 Cash held by broker 678,216 2,077,108 Current Assets $ 940,251 $ 2,856,439 Corn forward contracts in loss position Current Liabilities $ (2,126,641) $ (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 September 30, Classification 2023 2022 Net realized and unrealized gains (losses) related to purchase contracts: Futures contracts Cost of Revenues $ 426,196 $ (1,940,249) Forward contracts Cost of Revenues (1,527,713) 1,405,821 Statement of Operations Nine Months Ended September 30, Classification 2023 2022 Net realized and unrealized gains (losses) related to purchase contracts: Futures contracts Cost of Revenues $ 5,656,481 $ (7,342,878) Forward contracts Cost of Revenues (12,625,389) 2,796,694 Investments The Company has investment interests in five companies in related industries. Four of these interests are at ownership shares less than 20%. One of the investments exceeds 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 September 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 September 30, 2023, ethanol sales averaged approximately 77% of total revenues, while approximately 17% of revenues were generated from the sale of distillers grains and 6% of revenues were generated from the sale of corn oil. For the nine months ended September 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 September 30, 2023 on the basis that no triggering events were noted.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 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 Nine Months Ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 unaudited unaudited unaudited unaudited Net Sales Production $ 66,916,014 $ 74,210,499 $ 218,936,367 $ 214,098,692 Ethanol Producing Equity Method Investments 140,880,495 180,869,554 485,462,978 545,640,321 All Other 3,357,654 4,553,075 13,184,092 13,334,531 Total 211,154,163 259,633,128 717,583,437 773,073,544 Reconciliation (144,238,149) (185,422,629) (498,647,070) (558,974,852) Consolidated $ 66,916,014 $ 74,210,499 $ 218,936,367 $ 214,098,692 Gross Profit: Production $ 14,277,361 $ 7,401,848 $ 24,006,963 $ 18,930,306 Ethanol Producing Equity Method Investments 28,412,361 7,747,126 61,195,964 31,919,797 All Other 2,957,063 2,982,259 8,885,566 8,922,437 Total 45,646,785 18,131,233 94,088,493 59,772,540 Reconciliation (31,369,424) (10,729,385) (70,081,530) (40,842,234) Consolidated $ 14,277,361 $ 7,401,848 $ 24,006,963 $ 18,930,306 Net Income: Production $ 16,114,768 $ 6,509,692 $ 28,160,614 $ 19,297,865 Ethanol Producing Equity Method Investments 23,672,967 1,863,817 43,702,983 21,973,160 All Other 2,044,110 1,384,948 5,121,173 3,625,905 Total 41,831,845 9,758,457 76,984,770 44,896,930 Reconciliation (25,717,077) (3,248,765) (48,824,156) (25,599,065) Consolidated $ 16,114,768 $ 6,509,692 $ 28,160,614 $ 19,297,865 September 30, 2023 December 31, 2022 unaudited audited Total Assets Production $ 161,850,852 $ 156,406,527 Ethanol Producing Equity Method Investments 226,485,272 239,476,419 All Other 365,516,076 296,653,249 Total 753,852,200 692,536,195 Reconciliation (592,001,348) (536,129,668) Consolidated $ 161,850,852 $ 156,406,527

Inventory

Inventory	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventory	INVENTORY Inventory consisted of the following as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022* Raw materials $ 2,733,367 $ 12,397,256 Finished goods 4,666,369 10,050,394 Work in process 1,459,986 1,353,715 Parts inventory 2,005,568 1,994,346 $ 10,865,290 $ 25,795,711 *Derived from audited financial statements.

Investments, Equity Method and

Investments, Equity Method and Joint Ventures	9 Months Ended
	Sep. 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 June 30, 2023 unaudited interim results. The carrying amount of the Company’s investment was approximately $2,434,000 and $2,286,000 as of September 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 September 30, 2023 unaudited interim results. The carrying amount of the Company’s investment was approximately $262,000 and $216,000 as of September 30, 2023 and December 31, 2022, respectively. Lake Area Corn Processors has a 27% investment interest in Guardian Hankinson, LLC ("GH"), a partnership which operates an ethanol plant in North Dakota. On September 29, 2023 the Company purchased additional units increasing our ownership percentage of GH. The net income, which is reported in the Company’s income statement for GH, is based on GH’s September 30, 2023 unaudited interim results. The carrying amount of the Company’s investment was approximately $48,578,000 and $1,870,000 as of September 30, 2023 and December 31, 2022, respectively. Lake Area Corn Processors has a 20% 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 September 30, 2023 unaudited interim results. The carrying amount of the Company’s investment was approximately $92,000 as of September 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 September 30, 2023 unaudited interim results. The carrying amount of the Company’s investment was approximately $13,445,000 and $13,227,000 as of September 30, 2023 and December 31, 2022, respectively. The carrying amount of the investment exceeds the underlying equity in net assets by approximately $899,000. The excess is comprised of a basis adjustment of approximately $369,000 and capitalized interest of $530,000. 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 September 30, 2023 December 31, 2022 Current Assets $ 439,663,770 $ 376,111,612 Other Assets 152,336,578 160,018,056 Current Liabilities 353,155,370 334,797,023 Long-term Liabilities 28,334,935 36,462,751 Members' Equity 210,510,043 164,869,892 Three Months Ended Income Statement September 30, 2023 September 30, 2022 Revenue $ 144,238,149 $ 185,422,629 Gross Profit 31,369,424 10,729,385 Net Income 25,717,077 3,248,765 Nine Months Ended Income Statement September 30, 2023 September 30, 2022 Revenue $ 498,647,070 $ 558,974,852 Gross Profit 70,081,530 40,842,234 Net Income 48,824,156 25,599,065 The following table shows the condensed financial information of Guardian Energy Hankinson; an investment which represents greater than 10% of the Company's assets and income as of September 30, 2023. Balance Sheet September 30, 2023 December 31, 2022 Current Assets $ 48,604,099 $ 35,429,047 Other Assets 34,072,857 41,806,802 Current Liabilities 30,518,520 49,708,032 Long-term Liabilities 8,377,670 8,829,302 Members' Equity 43,780,766 18,698,514 Three Months Ended Income Statement September 30, 2023 September 30, 2022 Revenue $ 115,237,939 $ 120,022,746 Gross Profit 25,061,092 708,454 Net Income (loss) 24,601,501 (761,923) Nine Months Ended Income Statement September 30, 2023 September 30, 2022 Revenue $ 344,059,936 $ 358,507,931 Gross Profit 40,671,560 13,596,079 Net Income 37,082,251 16,721,254 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 September 30, 2023. Balance Sheet September 30, 2023 December 31, 2022 Current Assets $ 27,167,901 $ 46,040,175 Other Assets 116,639,415 116,200,396 Current Liabilities 17,983,832 30,950,092 Long-term Liabilities 19,957,265 27,633,449 Members' Equity 105,866,219 103,657,030 Three Months Ended Income Statement September 30, 2023 September 30, 2022 Revenue $ 25,642,556 $ 60,846,808 Gross Profit 3,351,269 7,038,672 Net Income (loss) (928,534) 2,625,740 Nine Months Ended Income Statement September 30, 2023 September 30, 2022 Revenue $ 141,403,042 $ 187,132,390 Gross Profit 20,524,404 18,323,718 Net Income 6,620,732 5,251,906 The Company recorded equity in net income of approximately $4,925,000 and $2,542,000 from our investments for the nine months ended September 30, 2023, and 2022, respectively. The Company recorded equity in net income of approximately $2,468,000 and $315,000 from our investments for the three months ended September 30, 2023, and 2022, respectively.

Revolving Operating Note

Revolving Operating Note	9 Months Ended
	Sep. 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 $20,000,000. There is a non-use fee of 0.25% per annum on the unused portion of the note. The note is collateralized by substantially all assets of the Company. The note expires on November 1, 2025. Interest on the outstanding principal balance will accrue at 300 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 8.33% at September 30, 2023. On September 30, 2023, Dakota Ethanol had $10,286,318 outstanding and $9,713,682 available to be drawn on the revolving promissory note.

Fair Value Measures and Disclos

Fair Value Measures and Disclosures	9 Months Ended
	Sep. 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 September 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 September 30, 2023 Assets: Derivative financial instruments, futures and options contracts $ 265,388 $ 265,388 $ — $ — Forward contracts $ 35 $ — $ 35 $ — Liabilities: Derivative financial instruments, futures and options contracts $ 3,388 $ 3,388 $ — $ — Forward contracts $ 2,126,641 $ — $ 2,126,641 $ — 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 nine months ended September 30, 2023, the Company did not make any changes between Level 1 and Level 2 assets and liabilities. As of September 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 September 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 September 30, 2023 of $10,287,318 had an estimated fair value of approximately $10,287,318 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.

Commitment and Contingencies

Commitment and Contingencies	9 Months Ended
	Sep. 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 September 30, 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.
Subsequent Events	SUBSEQUENT EVENTSDuring November 2023, the Company declared a distribution to its members of $8,886,000 or $0.30 per capital unit, to unit holders of record as of October 1, 2023.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 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 September 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 September 30 Nine Months Ended September 30, 2023 2022 2023 2022 Revenues ethanol $ 51,342,538 $ 56,385,702 $ 167,170,587 $ 162,164,019 Revenues distillers grains 11,104,926 12,922,675 38,747,929 37,962,783 Revenues distillers corn oil 4,468,550 4,902,122 13,017,851 13,971,890 $ 66,916,014 $ 74,210,499 $ 218,936,367 $ 214,098,692 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 September 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 September 30, 2023, the Company was committed to purchasing approximately 4.0 million bushels of corn on a forward contract basis with an average price of $5.04 per bushel. These corn purchases represent approximately 12% 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 September 30, 2023, the Company is committed to purchasing approximately 1,192,000 MMBtus of natural gas with an average price of $3.68 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 57% 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 September 30, 2023, the Company was committed to selling approximately 57,000 dry equivalent tons of distillers grains with an average price of $192 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 25% 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 September 30, 2023, the Company was committed to selling approximately 3.2 million pounds of distillers corn oil with an average price of $0.72 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 9% of the projected annual plant production. The Company did not have any firm-priced sales commitments for ethanol as of September 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 September 30, 2023 and December 31, 2022 were as follows: Balance Sheet Classification September 30, 2023 December 31, 2022* Corn forward contracts in gain position $ 35 $ 922,181 Futures contracts in gain position 265,388 252,450 Futures contracts in loss position (3,388) (395,300) Total forward, futures and options contracts 262,035 779,331 Cash held by broker 678,216 2,077,108 Current Assets $ 940,251 $ 2,856,439 Corn forward contracts in loss position Current Liabilities $ (2,126,641) $ (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 September 30, Classification 2023 2022 Net realized and unrealized gains (losses) related to purchase contracts: Futures contracts Cost of Revenues $ 426,196 $ (1,940,249) Forward contracts Cost of Revenues (1,527,713) 1,405,821 Statement of Operations Nine Months Ended September 30, Classification 2023 2022 Net realized and unrealized gains (losses) related to purchase contracts: Futures contracts Cost of Revenues $ 5,656,481 $ (7,342,878) Forward contracts Cost of Revenues (12,625,389) 2,796,694
Investments	Investments The Company has investment interests in five companies in related industries. Four of these interests are at ownership shares less than 20%. One of the investments exceeds 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 September 30, 2023, ethanol sales averaged approximately 77% of total revenues, while approximately 17% of revenues were generated from the sale of distillers grains and 6% of revenues were generated from the sale of corn oil. For the nine months ended September 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)	9 Months Ended
	Sep. 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 September 30 Nine Months Ended September 30, 2023 2022 2023 2022 Revenues ethanol $ 51,342,538 $ 56,385,702 $ 167,170,587 $ 162,164,019 Revenues distillers grains 11,104,926 12,922,675 38,747,929 37,962,783 Revenues distillers corn oil 4,468,550 4,902,122 13,017,851 13,971,890 $ 66,916,014 $ 74,210,499 $ 218,936,367 $ 214,098,692
Derivatives Not Designated as Hedging Instruments	Derivatives not designated as hedging instruments at September 30, 2023 and December 31, 2022 were as follows: Balance Sheet Classification September 30, 2023 December 31, 2022* Corn forward contracts in gain position $ 35 $ 922,181 Futures contracts in gain position 265,388 252,450 Futures contracts in loss position (3,388) (395,300) Total forward, futures and options contracts 262,035 779,331 Cash held by broker 678,216 2,077,108 Current Assets $ 940,251 $ 2,856,439 Corn forward contracts in loss position Current Liabilities $ (2,126,641) $ (435,053) *Derived from audited financial statements
Net realized and unrealized gains (losses) related to purchase contracts	Statement of Operations Three Months Ended September 30, Classification 2023 2022 Net realized and unrealized gains (losses) related to purchase contracts: Futures contracts Cost of Revenues $ 426,196 $ (1,940,249) Forward contracts Cost of Revenues (1,527,713) 1,405,821 Statement of Operations Nine Months Ended September 30, Classification 2023 2022 Net realized and unrealized gains (losses) related to purchase contracts: Futures contracts Cost of Revenues $ 5,656,481 $ (7,342,878) Forward contracts Cost of Revenues (12,625,389) 2,796,694

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 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 Nine Months Ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 unaudited unaudited unaudited unaudited Net Sales Production $ 66,916,014 $ 74,210,499 $ 218,936,367 $ 214,098,692 Ethanol Producing Equity Method Investments 140,880,495 180,869,554 485,462,978 545,640,321 All Other 3,357,654 4,553,075 13,184,092 13,334,531 Total 211,154,163 259,633,128 717,583,437 773,073,544 Reconciliation (144,238,149) (185,422,629) (498,647,070) (558,974,852) Consolidated $ 66,916,014 $ 74,210,499 $ 218,936,367 $ 214,098,692 Gross Profit: Production $ 14,277,361 $ 7,401,848 $ 24,006,963 $ 18,930,306 Ethanol Producing Equity Method Investments 28,412,361 7,747,126 61,195,964 31,919,797 All Other 2,957,063 2,982,259 8,885,566 8,922,437 Total 45,646,785 18,131,233 94,088,493 59,772,540 Reconciliation (31,369,424) (10,729,385) (70,081,530) (40,842,234) Consolidated $ 14,277,361 $ 7,401,848 $ 24,006,963 $ 18,930,306 Net Income: Production $ 16,114,768 $ 6,509,692 $ 28,160,614 $ 19,297,865 Ethanol Producing Equity Method Investments 23,672,967 1,863,817 43,702,983 21,973,160 All Other 2,044,110 1,384,948 5,121,173 3,625,905 Total 41,831,845 9,758,457 76,984,770 44,896,930 Reconciliation (25,717,077) (3,248,765) (48,824,156) (25,599,065) Consolidated $ 16,114,768 $ 6,509,692 $ 28,160,614 $ 19,297,865 September 30, 2023 December 31, 2022 unaudited audited Total Assets Production $ 161,850,852 $ 156,406,527 Ethanol Producing Equity Method Investments 226,485,272 239,476,419 All Other 365,516,076 296,653,249 Total 753,852,200 692,536,195 Reconciliation (592,001,348) (536,129,668) Consolidated $ 161,850,852 $ 156,406,527

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consisted of the following as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022* Raw materials $ 2,733,367 $ 12,397,256 Finished goods 4,666,369 10,050,394 Work in process 1,459,986 1,353,715 Parts inventory 2,005,568 1,994,346 $ 10,865,290 $ 25,795,711 *Derived from audited financial statements.

Investments, Equity Method an_2

Investments, Equity Method and Joint Ventures (Tables)	9 Months Ended
	Sep. 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 September 30, 2023 December 31, 2022 Current Assets $ 439,663,770 $ 376,111,612 Other Assets 152,336,578 160,018,056 Current Liabilities 353,155,370 334,797,023 Long-term Liabilities 28,334,935 36,462,751 Members' Equity 210,510,043 164,869,892 Three Months Ended Income Statement September 30, 2023 September 30, 2022 Revenue $ 144,238,149 $ 185,422,629 Gross Profit 31,369,424 10,729,385 Net Income 25,717,077 3,248,765 Nine Months Ended Income Statement September 30, 2023 September 30, 2022 Revenue $ 498,647,070 $ 558,974,852 Gross Profit 70,081,530 40,842,234 Net Income 48,824,156 25,599,065 The following table shows the condensed financial information of Guardian Energy Hankinson; an investment which represents greater than 10% of the Company's assets and income as of September 30, 2023. Balance Sheet September 30, 2023 December 31, 2022 Current Assets $ 48,604,099 $ 35,429,047 Other Assets 34,072,857 41,806,802 Current Liabilities 30,518,520 49,708,032 Long-term Liabilities 8,377,670 8,829,302 Members' Equity 43,780,766 18,698,514 Three Months Ended Income Statement September 30, 2023 September 30, 2022 Revenue $ 115,237,939 $ 120,022,746 Gross Profit 25,061,092 708,454 Net Income (loss) 24,601,501 (761,923) Nine Months Ended Income Statement September 30, 2023 September 30, 2022 Revenue $ 344,059,936 $ 358,507,931 Gross Profit 40,671,560 13,596,079 Net Income 37,082,251 16,721,254 Balance Sheet September 30, 2023 December 31, 2022 Current Assets $ 27,167,901 $ 46,040,175 Other Assets 116,639,415 116,200,396 Current Liabilities 17,983,832 30,950,092 Long-term Liabilities 19,957,265 27,633,449 Members' Equity 105,866,219 103,657,030 Three Months Ended Income Statement September 30, 2023 September 30, 2022 Revenue $ 25,642,556 $ 60,846,808 Gross Profit 3,351,269 7,038,672 Net Income (loss) (928,534) 2,625,740 Nine Months Ended Income Statement September 30, 2023 September 30, 2022 Revenue $ 141,403,042 $ 187,132,390 Gross Profit 20,524,404 18,323,718 Net Income 6,620,732 5,251,906

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 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: September 30, 2023 December 31, 2022 Revolving Note Payable $ 10,286,318 $ — Term Note Payable — 4,000,000 Reducing Revolving Note Payable 1,000 1,000 Less unamortized debt issuance costs (1,556) (2,771) 10,285,762 3,998,229 Less current portion — (1,000,000) $ 10,285,762 $ 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 September 30, Principal 2024 $ — 2025 10,286,318 2026 — thereafter 1,000 $ 10,287,318

Fair Value Measures and Discl_2

Fair Value Measures and Disclosures (Tables)	9 Months Ended
	Sep. 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 September 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 September 30, 2023 Assets: Derivative financial instruments, futures and options contracts $ 265,388 $ 265,388 $ — $ — Forward contracts $ 35 $ — $ 35 $ — Liabilities: Derivative financial instruments, futures and options contracts $ 3,388 $ 3,388 $ — $ — Forward contracts $ 2,126,641 $ — $ 2,126,641 $ — 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 $ —

Nature of Operations (Details)

Nature of Operations (Details) gal in Millions	9 Months Ended
	Sep. 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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	$ 66,916,014	$ 74,210,499	$ 218,936,367	$ 214,098,692
Contract with Customer, Liability	0		0		$ 0
Ethanol [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	51,342,538	56,385,702	167,170,587	162,164,019
Distillers Grain [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	11,104,926	12,922,675	38,747,929	37,962,783
Corn Oil [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	$ 4,468,550	$ 4,902,122	$ 13,017,851	$ 13,971,890

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Receivables and Credit Policies (Details) - USD ($)	3 Months Ended
	Sep. 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	Sep. 30, 2023 USD ($) MMBTU bu T	Dec. 31, 2022 USD ($)
Derivatives, Fair Value [Line Items]
Derivative Instruments and Hedges, Assets	$ 940,251	$ 2,856,439
Derivative Instruments and Hedges, Liabilities	2,126,641	435,053
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative assets, current	262,035	779,331
Current Assets [Member]
Derivatives, Fair Value [Line Items]
Cash held by broker	678,216	2,077,108
Current Assets [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments and Hedges, Assets	940,251	2,856,439
Derivative Instruments and Hedges, Liabilities	(35)	(922,181)
Other Current Liabilities [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments and Hedges, Liabilities	$ 2,126,641	435,053
Corn [Member]
Derivatives, Fair Value [Line Items]
Number of instruments held | bu	4
Purchase Commitment, Per unit	$ 5.04
Percent of required need, coverage	12%
Natural Gas [Member]
Derivatives, Fair Value [Line Items]
Number of instruments held | MMBTU	1,192,000
Purchase Commitment, Per unit	$ 3.68
Percent of required need, coverage	57%
Distillers Grain [Member]
Derivatives, Fair Value [Line Items]
Purchase Commitment, Per unit	$ 192
Percent of required need, coverage	25%
Corn Oil [Member]
Derivatives, Fair Value [Line Items]
Purchase Commitment, Per unit	$ 0.72
Distillers Grain [Domain]
Derivatives, Fair Value [Line Items]
Number of instruments held | T	57,000
Distillers Corn Oil [Domain]
Derivatives, Fair Value [Line Items]
Number of instruments held | bu	3.2
Percent of required need, coverage	9%
Futures contracts in gain position [Member] | Future [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative assets, current	$ 265,388	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	$ (3,388)	$ (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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Future [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 426,196	$ (1,940,249)	$ 5,656,481	$ (7,342,878)
Forward Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ (1,527,713)	$ 1,405,821	$ (12,625,389)	$ 2,796,694

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Investments (Details)	Sep. 30, 2023
Equity Method Investments, Number of Entities	5
Four Plants
Percent of Ownership, Equity Investment	20%
One Plant
Percent of Ownership, Equity Investment	20%

Summary of Significant Accoun_9

Summary of Significant Accounting Policies Goodwill (Details) - USD ($)	3 Months Ended	9 Months Ended
	Mar. 31, 2023	Sep. 30, 2023
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	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Ethanol [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	77%	76%
Distillers Grain [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	17%	18%
Corn Oil [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	6%	6%

Segment Reporting (Details)

Segment Reporting (Details)	3 Months Ended						9 Months Ended
	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Sep. 30, 2023 USD ($) numberOfSegments	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUES	$ (66,916,014)			$ (74,210,499)			$ (218,936,367)	$ (214,098,692)
Gross Profit	14,277,361			7,401,848			24,006,963	18,930,306
Net Income	16,114,768	$ 8,628,786	$ 3,417,060	6,509,692	$ 11,122,974	$ 1,665,199	28,160,614	19,297,865
Interest and other income	640,251			61,607			3,415,627	1,559,100
Interest Expense	15,690			568			177,132	65,247
Depreciation and amortization							4,175,464	3,716,018
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	161,850,852						161,850,852		$ 156,406,527
Investments	(64,810,773)						$ (64,810,773)		(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	(66,916,014)			(74,210,499)			$ (218,936,367)	(214,098,692)
Gross Profit	14,277,361			7,401,848			24,006,963	18,930,306
Net Income	16,114,768			6,509,692			28,160,614	19,297,865
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	161,850,852						161,850,852		156,406,527
Ethanol Producing Equity method Investments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUES	(140,880,495)			(180,869,554)			(485,462,978)	(545,640,321)
Gross Profit	28,412,361			7,747,126			61,195,964	31,919,797
Net Income	23,672,967			1,863,817			43,702,983	21,973,160
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	226,485,272						226,485,272		239,476,419
Other Equity Method Investments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUES	(3,357,654)			(4,553,075)			(13,184,092)	(13,334,531)
Gross Profit	2,957,063			2,982,259			8,885,566	8,922,437
Net Income	2,044,110			1,384,948			5,121,173	3,625,905
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	365,516,076						365,516,076		296,653,249
Combined Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUES	(211,154,163)			(259,633,128)			(717,583,437)	(773,073,544)
Gross Profit	45,646,785			18,131,233			94,088,493	59,772,540
Net Income	41,831,845			9,758,457			76,984,770	44,896,930
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	753,852,200						753,852,200		692,536,195
Non-production members
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUES	(144,238,149)			(185,422,629)			(498,647,070)	(558,974,852)
Gross Profit	(31,369,424)			(10,729,385)			(70,081,530)	(40,842,234)
Net Income	(25,717,077)			$ (3,248,765)			(48,824,156)	$ (25,599,065)
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ (592,001,348)						$ (592,001,348)		$ (536,129,668)

Inventory (Details)

Inventory (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Inventory [Line Items]
Raw Materials	$ 2,733,367	$ 12,397,256
Finished Goods	4,666,369	10,050,394
Work in Process	1,459,986	1,353,715
Parts Inventory	2,005,568	1,994,346
Inventory	10,865,290	25,795,711
Inventory Write-down	$ 0	$ 2,000

Investments (Details)

Investments (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Investments	$ 64,810,773		$ 64,810,773				$ 17,691,011
Equity in net income (loss) of investments	2,468,182	$ 315,273	4,925,138	$ 2,542,068
Schedule of Equity Method Investments [Line Items]
Assets, Current	19,539,445		19,539,445				59,455,069
Liabilities, Current	21,506,440		21,506,440				45,460,292
Liabilities, Noncurrent	10,285,762		10,285,762				2,998,229
Members' Equity	130,058,650	105,860,543	130,058,650	105,860,543	$ 116,905,882	$ 111,239,096	107,948,006	$ 111,200,871	$ 100,077,897	$ 113,468,865
REVENUES	66,916,014	74,210,499	218,936,367	214,098,692
Gross Profit	14,277,361	7,401,848	24,006,963	18,930,306
Equity in net income (loss) of investments	2,468,182	315,273	4,925,138	2,542,068
Investments	64,810,773		64,810,773				17,691,011
Other Investments Combined [Member]
Equity Method Investments and Joint Ventures [Abstract]
Equity in net income (loss) of investments	2,468,000	315,000	4,925,000	2,542,000
Schedule of Equity Method Investments [Line Items]
Equity in net income (loss) of investments	$ 2,468,000	315,000	$ 4,925,000	2,542,000
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	$ 13,445,000		$ 13,445,000				13,227,000
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity, Accounting Treatment			899,000
Basis adjustment			$ 369,000
Capitalized interest			$ 530,000
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			899,000
Basis adjustment			$ 369,000
Capitalized interest			$ 530,000
Amortization period for amortization of investment premium			20 years
Investments	$ 13,445,000		$ 13,445,000				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	$ 2,434,000		$ 2,434,000				2,286,000
Schedule of Equity Method Investments [Line Items]
Investments	$ 2,434,000		$ 2,434,000				2,286,000
Percent of Ownership, Equity Investment	5%		5%
Lawrenceville Tanks, LLC [Member]
Equity Method Investments and Joint Ventures [Abstract]
Investments	$ 262,000		$ 262,000				216,000
Schedule of Equity Method Investments [Line Items]
Investments	$ 262,000		$ 262,000				216,000
Percent of Ownership, Equity Investment	10%		10%
Guardian Hankinson, LLC
Equity Method Investments and Joint Ventures [Abstract]
Investments	$ 48,578,000		$ 48,578,000				1,870,000
Schedule of Equity Method Investments [Line Items]
Investments	$ 48,578,000		$ 48,578,000				1,870,000
Percent of Ownership, Equity Investment	27%		27%
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	20%		20%
Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Assets, Current	$ 439,663,770		$ 439,663,770				376,111,612
Other Assets	152,336,578		152,336,578				160,018,056
Liabilities, Current	353,155,370		353,155,370				334,797,023
Liabilities, Noncurrent	28,334,935		28,334,935				36,462,751
Members' Equity	210,510,043		210,510,043				164,869,892
REVENUES	144,238,149	185,422,629	498,647,070	558,974,852
Gross Profit	31,369,424	10,729,385	70,081,530	40,842,234
Net Income (Loss) Attributable to Noncontrolling Interest	25,717,077	3,248,765	48,824,156	25,599,065
Equity Method Investments | Ring-neck Energy and Feeds [Member]
Schedule of Equity Method Investments [Line Items]
Assets, Current	27,167,901		27,167,901				46,040,175
Other Assets	116,639,415		116,639,415				116,200,396
Liabilities, Current	17,983,832		17,983,832				30,950,092
Liabilities, Noncurrent	19,957,265		19,957,265				27,633,449
Members' Equity	105,866,219		105,866,219				103,657,030
REVENUES	25,642,556	60,846,808	141,403,042	187,132,390
Gross Profit	3,351,269	7,038,672	20,524,404	18,323,718
Net Income (Loss) Attributable to Noncontrolling Interest	(928,534)	2,625,740	6,620,732	5,251,906
Equity Method Investments | Guardian Hankinson, LLC
Schedule of Equity Method Investments [Line Items]
Assets, Current	48,604,099		48,604,099				35,429,047
Other Assets	34,072,857		34,072,857				41,806,802
Liabilities, Current	30,518,520		30,518,520				49,708,032
Liabilities, Noncurrent	8,377,670		8,377,670				8,829,302
Members' Equity	43,780,766		43,780,766				$ 18,698,514
REVENUES	115,237,939	120,022,746	344,059,936	358,507,931
Gross Profit	25,061,092	708,454	40,671,560	13,596,079
Net Income (Loss) Attributable to Noncontrolling Interest	$ 24,601,501	$ (761,923)	$ 37,082,251	$ 16,721,254

Revolving Operating Note (Detai

Revolving Operating Note (Details) - Farm Credit Services of America [Member] - Revolving Credit Facility [Member]	3 Months Ended	9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2023 USD ($)
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 20,000,000	$ 20,000,000
Unused capacity, commitment fee percentage		0.25%
Basis spread on variable rate	30,000%
Interest rate	8.33%	8.33%
Line of Credit Facility, Fair Value of Amount Outstanding	$ 10,286,318	$ 10,286,318
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	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Jul. 01, 2027	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term debt, gross	$ 10,287,318	$ 10,287,318
Unamortized debt issuance expense	(1,556)	(1,556)		$ (2,771)
Long-term debt	10,285,762	10,285,762		3,998,229
Long-term debt, current maturities	0	0		(1,000,000)
Notes payable	10,285,762	10,285,762		2,998,229
2020	0	0
2021	10,286,318	10,286,318
2022	0	0
Long-Term Debt, Maturity, after Year Three	1,000	1,000
Farm Credit Services of America [Member]
Debt Instrument [Line Items]
Minimum Net Worth Required for Compliance	30,000,000	30,000,000
Long-term debt, gross	10,286,318	10,286,318		0
working capital covenant	15,000,000	15,000,000
Farm Credit Services of America [Member] | Medium-term Notes [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	8,000,000	8,000,000
Farm Credit Services of America [Member] | Short-Term Debt, Type [Domain]
Debt Instrument [Line Items]
Annual principal payment	$ 1,000,000	1,000,000
Basis spread on variable rate	32,500%
Line of Credit Facility, Fair Value of Amount Outstanding	$ 0	$ 0		4,000,000
Farm Credit Services of America [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	30,000%
Interest rate	8.33%	8.33%
Maximum borrowing capacity	$ 20,000,000	$ 20,000,000
Remaining borrowing capacity	9,713,682	$ 9,713,682
Unused capacity, commitment fee percentage		0.25%
Line of Credit Facility, Fair Value of Amount Outstanding	$ 10,286,318	$ 10,286,318
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]
Interest rate	858%	858%
Maximum borrowing capacity	$ 60,000,000	$ 60,000,000
Remaining borrowing capacity	59,999,000	$ 59,999,000
Unused capacity, commitment fee percentage		0.50%
Line of Credit Facility, Fair Value of Amount Outstanding	1,000	$ 1,000		$ 1,000
Line of Credit Facility, Semi-annual Maximum Reduction	$ 2,500,000	$ 2,500,000
Farm Credit Services of America [Member] | Reducing Revolving Promissory Note | Subsequent Event [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 40,000,000
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 Measures and Discl_3

Fair Value Measures and Disclosures (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, gross	$ 10,287,318
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, gross	10,287,318	$ 4,001,000
Long-term debt, fair value	10,287,318	4,001,000
Fair Value, Recurring [Member] | Future [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	265,388	252,450
Derivative liability	(3,388)	(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	265,388	252,450
Derivative liability	(3,388)	(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	35	922,181
Derivative liability	(2,126,641)	(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	35	922,181
Derivative liability	(2,126,641)	(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

Commitment and Contingencies (D

Commitment and Contingencies (Details)	9 Months Ended
	Sep. 30, 2023 USD ($) Bcf
Estimated Litigation Liability | $	$ 0
Electricity And Natural Gas
Commitments and Contingencies Disclosure [Abstract]
Purchase Commitment, estimated total contribution | $	8,890,000
Purchase Commitment, estimated total contribution | $	$ 8,890,000
Electricity And Natural Gas | 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
Electricity And Natural Gas | 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

Uncategorized Items - lacp-2023

Label	Element	Value
Subsequent Event [Member]
Distribution Declared, per Unit	lacp_DistributionDeclaredPerUnit	$ 0.3
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Declared	us-gaap_DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsDeclared	$ 8,886,000