South Dakota Soybean Processors (SDSYA) 10-K 18 Mar 20 2019 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Mar. 17, 2020	Jun. 30, 2019
Entity Registrant Name	SOUTH DAKOTA SOYBEAN PROCESSORS LLC
Entity Central Index Key	0001163609
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		30,419,000
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 112,595,763
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents	$ 624,681	$ 7,197,082
Trade accounts receivable	24,420,557	20,550,438
Inventories	44,470,052	36,716,014
Margin deposits	6,772,160	2,350,852
Prepaid expenses	1,884,742	1,492,163
Total current assets	78,172,192	68,306,549
Property and equipment	118,363,393	110,314,779
Less accumulated depreciation	(53,846,189)	(51,246,765)
Total property and equipment, net	64,517,204	59,068,014
Other assets
Investments in related parties	7,873,727	8,009,315
Investments in cooperatives	1,562,098	1,552,022
Operating Lease, Right-of-Use Asset	5,979,771	7,918,283
Total other assets	15,415,596	17,479,620
Total assets	158,104,992	144,854,183
Liabilities and Members' Equity
Excess of outstanding checks over bank balance	(8,164,752)	(3,893,179)
Current maturities of long-term debt	4,603,342	61,964
Notes Payable, Seasonal Loan, Current	1,743,029	0
Operating Lease, Liability, Current	2,663,967	2,714,928
Accounts payable	4,904,963	2,325,404
Accrued commodity purchases	31,346,533	35,384,390
Accrued expenses	2,900,118	3,697,631
Accrued interest	74,770	10,673
Deferred liabilities - current	448,458	792,384
Total current liabilities	56,849,932	48,880,553
Long-term liabilities
Long-term debt, net of current maturities and unamortized debt issuance costs	11,991,923	593,027
Operating Lease, Liability, Noncurrent	3,315,804	5,203,355
Commitments and contingencies (Notes 8, 9, 10, 16 & 18)
Members' equity
Total liabilities and members' equity	158,104,992	144,854,183
Capital Unit, Class A [Member]
Members' equity
Members' equity Class A Units, no par value, 30,419,000 units issued and outstanding	$ 85,947,333	$ 90,177,248

Consolidated Balance Sheets _Pa

Consolidated Balance Sheets [Parenthetical] - Capital Unit, Class A [Member] - shares	Dec. 31, 2019	Dec. 31, 2018
Common stock, shares issued	30,419,000	30,419,000
Common stock, shares outstanding	30,419,000	30,419,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net revenues	$ 371,275,766	$ 391,764,683	$ 375,759,337
Cost of revenues:
Production	30,889,789	27,040,845	24,448,686
Freight and rail	35,572,737	36,157,789	33,101,043
Brokerage fees	634,129	669,768	667,413
Total cost of revenues	356,475,930	362,601,571	364,150,130
Gross profit	14,799,836	29,163,112	11,609,207
Operating expenses:
Administration	3,624,306	3,834,845	3,211,255
Operating income	11,175,530	25,328,267	8,397,952
Other income (expense):
Interest expense	(919,157)	(897,942)	(457,909)
Other non-operating income (expense)	554,356	1,302,722	(1,664,235)
Patronage dividend income	169,456	146,258	493,201
Total other income (expense)	(195,345)	551,038	(1,628,943)
Income before income taxes	10,980,185	25,879,305	6,769,009
Income tax (expense), net	(600)	(1,960)	(1,941)
Net income	$ 10,979,585	$ 25,877,345	$ 6,767,068
Basic and diluted earnings (loss) per capital unit:
Net income (loss), in dollars per share	$ 0.36	$ 0.85	$ 0.22
Weighted average number of capital units outstanding for calculation of basic and diluted earnings (loss) per capital unit	30,419,000	30,419,000	30,419,000
Product
Cost of revenues:
Cost of product sold	$ 289,379,275	$ 298,733,169	$ 305,932,988

Consolidated Statements of Chan

Consolidated Statements of Changes in Members' Equity - USD ($)	Total	Capital Unit, Class A [Member]
Member's Equity at Dec. 31, 2016		$ 72,052,927
Balances (in Units) at Dec. 31, 2016		30,419,000
Net income (loss)	$ 6,767,068	$ 6,767,068
Distribution to members	(9,444,789)
Balance, December 31, 2012 at Dec. 31, 2017		$ 69,375,206
Balances (in Units) at Dec. 31, 2017		30,419,000
Net income (loss)	25,877,345	$ 25,877,345
Distribution to members		(5,075,303)
Balance, December 31, 2012 at Dec. 31, 2018		$ 90,177,248
Balances (in Units) at Dec. 31, 2018		30,419,000
Net income (loss)	$ 10,979,585	$ 10,979,585
Distribution to members		(15,209,500)
Balance, December 31, 2012 at Dec. 31, 2019		$ 85,947,333
Balances (in Units) at Dec. 31, 2019		30,419,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating activities
Net income	$ 10,979,585	$ 25,877,345	$ 6,767,068
Charges and credits to net income not affecting cash:
Depreciation and amortization	4,489,614	4,167,715	3,624,962
Loss on sale of investments in cooperatives	0	0	1,451,728
(Gain) loss on sales of property and equipment	64,244	(246,206)	8,527
Loss on equity method investment	135,588	61,198	411,050
Non-cash patronage dividends and interest income	(42,364)	(24,131)	(168,379)
Change in current operating assets and liabilities	(18,973,684)	641,516	(4,697,776)
Net cash (used for) from operating activities	(3,347,017)	30,477,437	7,397,180
Investing activities
Proceeds from investments in cooperatives	0	0	3,258,430
Payments to Acquire Investments	0	(6,320,000)	0
Retirement of patronage dividends	32,288	0	0
Proceeds from sales of property and equipment	65,825	580,570	84,188
Purchase of property and equipment	(10,066,719)	(8,026,131)	(14,494,447)
Net cash (used for) investing activities	(9,968,606)	(13,765,561)	(11,151,829)
Financing activities
Change in excess of outstanding checks over bank balances	4,271,573	(601,784)	(2,148,263)
Net (payments) proceeds from seasonal borrowings	1,743,029	0	0
Distributions to members	(15,209,500)	(5,075,303)	(9,444,789)
Payments for debt issue costs	0	(10,500)	(14,000)
Proceeds from long-term debt	71,476,467	66,979,124	132,599,815
Principal payments on long-term debt	(55,538,347)	(71,489,854)	(128,209,239)
Net cash from (used for) financing activities	6,743,222	(10,198,317)	(7,216,476)
Net change in cash and cash equivalents	(6,572,401)	6,513,559	(10,971,125)
Cash and cash equivalents, beginning of year	7,197,082	683,523	11,654,648
Cash and cash equivalents, end of year	624,681	7,197,082	683,523
Supplemental disclosures of cash flow information
Interest	855,060	1,139,549	727,235
Income taxes	$ 0	$ (21,617)	$ 46,461

Accounts Receivable

Accounts Receivable	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Accounts Receivables	Accounts Receivable Accounts receivable are considered past due when payments are not received on a timely basis in accordance with the Company’s credit terms, which is generally 30 days from invoice date. Accounts considered uncollectible are written off. The Company’s estimate of the allowance for doubtful accounts is based on historical experience, its evaluation of the current status of receivables, and unusual circumstances, if any. The following table presents the aging analysis of trade receivables as of December 31, 2019 and 2018 : 2019 2018 Past due: Less than 30 days past due $ 4,306,064 $ 5,362,970 30-59 days past due 341,956 387,670 60-89 days past due 10,302 101,687 Greater than 90 days past due 14,162 84 Total past due 4,672,484 5,852,411 Current 19,748,073 14,698,027 Totals $ 24,420,557 $ 20,550,438 The following table provides information regarding the Company’s allowance for doubtful accounts receivable as of December 31, 2019 , 2018 , and 2017 : 2019 2018 2017 Balances, beginning of year $ — $ — $ — Amounts charged (credited) to costs and expenses — 42,909 — Additions (deductions) — (42,909 ) — Balances, end of year $ — $ — $ — In general cash received is applied to the oldest outstanding invoice first, unless payment is for a specified invoice. The Company, on a case by case basis, may charge a late fee of 1.5% per month on past due receivables.

Principal Activity and Signific

Principal Activity and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principal Activity and Significant Accounting Policies	Principal Activity and Significant Accounting Policies Organization South Dakota Soybean Processors, LLC (the “Company” or “LLC”) processes and sells soybean products, such as soybean meal, oil, and hulls. The Company’s principal operations are located where we have plants in Volga and Miller, South Dakota. Cash and cash equivalents The Company considers all highly liquid investment instruments with original maturities of three months or less at the time of acquisition to be cash equivalents. Inventories Finished goods (soybean meal, oil, refined oil, and hulls) and raw materials (soybeans) are valued at net realizable value. This accounting policy is in accordance with the guidelines described in Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 905, Agriculture (formerly AICPA Statement of Position No. 85-3, Accounting by Agricultural Producers and Agricultural Cooperatives). Supplies and other inventories are stated at net realizable value. Investments The Company accounts for its equity investments in Prairie AquaTech, LLC, Prairie AquaTech Manufacturing, LLC, and Prairie AquaTech Investments, LLC using Accounting Standards Update (ASU) No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities . All equity securities that do not result in consolidation and are not accounted for under the equity method are measured at fair value with changes therein reflected in net income. We have elected to utilize the measurement alternative for equity investments that do not have readily determinable fair values and measure these investments at cost less any impairment plus or minus observable price changes in orderly transactions. Prior to October 1, 2019, the Company accounted for its investment in Prairie AquaTech, LLC using the equity method due to the Company's ability to influence management decisions of Prairie AquaTech, LLC, due to its Board position on the Entity's Board of Managers. While the Company still holds its position on that entity's Board of Managers, the Company's ability to influence management decisions has been reduced due to additional quantity of board seats outstanding. Therefore, the Company ceased its accounting for its investment in Prairie AquaTech, LLC under the equity method, and began accounting for the investment using ASU No. 2016-01. Investments in cooperatives are recorded in a manner similar to equity investments without readily determinable fair values, cost plus the amount of patronage earnings allocated to the Company, less any cash distributions received. Property and equipment Property and equipment is stated at cost. Expenditures for renewals and improvements that significantly add to the productive capacity or extend the useful life of an asset are capitalized. Expenditures for maintenance and repairs are charged to expense when incurred. When depreciable properties are sold or retired, the cost and accumulated depreciation are eliminated from the accounts and the resultant gain or loss is reflected in income. Depreciation is provided for over the estimated useful lives of the individual assets using the straight-line method. The range of the estimated useful lives used in the computation of depreciation is as follows: Building and improvements 10-39 years Equipment and furnishings 3-15 years Railcars 50 years The Company reviews its long-lived assets for impairment whenever events indicate that the carrying amount of the asset may not be recoverable. If impairment indicators are present and the future cash flows is less than the carrying amount of the assets, values are reduced to the estimated fair value of those assets. The Company did not recognize any impairment on property and equipment during the years ended December 31, 2019 , 2018 , and 2017 . Deferred revenue The Company recognizes revenues as earned. Amounts received in advance of the period in which service is rendered are recorded as a liability under “Deferred liabilities”. Use of estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Revenue The Company accounts for all of its revenues from contracts with customers under ASC 606, Revenue from Contracts with Customers. The Company principally generates revenue from merchandising and transporting manufactured agricultural products used as ingredients in food, feed, energy and industrial products. Revenue is measured based on the consideration specified in the contract with a customer, and excludes any amounts collected on behalf of third parties (e.g. - taxes). The Company follows a policy of recognizing revenue at a single point in time when it satisfies its performance obligation by transferring control over a product to a customer. Control transfer typically occurs when goods are shipped from our facilities or at other predetermined control transfer points (for instance, destination terms). Shipping and handling costs related to contracts with customers for sale of goods are accounted for as a fulfillment activity and are included in cost of revenues. Accordingly, amounts billed to customers for such costs are included as a component of revenues. Payments received in advance to the transfer of goods, or "contract liabilities", are included in "Deferred liabilities - current" on the Company's balance sheets. These customer prepayments totaled $313,347 and $15,042 as of December 31, 2019 and 2018 , respectively. All of the $15,042 balance as of December 31, 2018 was recognized as revenue during the year ended December 31, 2019 . The following table presents a disaggregation of revenue from contracts with customers for the years ended December initiated 31, 2019 , 2018 , and 2017 , by product type: 2019 2018 2017 Soybean meal and hulls $ 244,012,663 $ 257,440,362 $ 228,685,518 Soybean oil and oil byproducts 127,263,103 134,324,321 147,073,819 Totals $ 371,275,766 $ 391,764,683 $ 375,759,337 Freight The Company presents all amounts billed to the customer for freight as a component of net revenue. Costs incurred for freight are reported as a component of cost of revenue. Advertising costs Advertising and promotion costs are expensed as incurred. The Company incurred $76,000 , $55,000 , and $57,000 , of advertising costs in the years ended December 31, 2019 , 2018 , and 2017 , respectively. Environmental remediation It is management’s opinion that the amount of any potential environmental remediation costs will not be material to the Company’s financial condition, results of operations, or cash flows; therefore, no accrual has been recorded. Accounting for derivative instruments and hedging activities All of the Company’s derivatives are designated as non-hedge derivatives. The futures and options contracts, as well as the interest rate swaps, caps and floors, used by the Company are discussed below. Although the contracts may be effective economic hedges of specified risks, they are not designated as, nor accounted for, as hedging instruments. The Company, as part of its trading activity, uses futures and option contracts offered through regulated commodity exchanges to reduce risk. The Company is exposed to risk of loss in the market value of inventories. To reduce that risk, the Company generally takes opposite and offsetting positions using futures contracts or options. Unrealized gains and losses on futures and options contracts used to hedge soybean, oil and meal inventories, as well as foreign exchange rates, are recognized as a component of net proceeds for financial reporting. Inventories are recorded at estimated market value. Consequently, unrealized gains and losses on derivative contracts are offset by unrealized gains and losses on inventories and reflected in current earnings. The Company uses interest rate swaps, caps and floors offered through regulated commodity exchanges. The Company is exposed to risk of loss resulting from potential increases in interest rates on their variable rate debt. To reduce that risk, the Company has purchased interest rate swaps, caps and floors. Unrealized gains and losses on interest rate swaps, caps and floors are reflected in current earnings immediately. Earnings per capital unit Earnings per capital unit are calculated based on the weighted average number of capital units outstanding. The Company has no other capital units or other member equity instruments that are dilutive for purposes of calculating earnings per capital unit. Income taxes As a limited liability company, the Company’s taxable income or loss is allocated to members in accordance with their respective percentage ownership. Therefore, no provision or liability for income taxes has been included in the financial statements. The Company has evaluated the provisions of FASB ASC 740-10 for uncertain tax positions. As of December 31, 2019 and 2018 , the unrecognized tax benefit accrual was zero. The Company will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if incurred. As of December 31, 2019 , the book value of the Company’s net assets exceeds the tax basis of those assets by approximately $19.8 million . The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. We are no longer subject to income tax examinations by U.S. federal and state tax authorities for years prior to 2016. We currently have no tax years under examination. Reclassifications Certain reclassifications have been made to the prior years' financial statements to conform to the current year presentation. These reclassifications had no effect on previously reported results of operations or members' equity. Recent accounting pronouncements Effective January 1, 2019, the Company adopted ASU No. 2016-02 (Leases). The standard requires companies to recognize operating lease assets and liabilities on the balance sheet and disclose key information regarding its leasing arrangements. The Company has elected the package of practical expedients permitted in ASC Topic 842. Accordingly, the Company accounted for all its leases as operating leases under the new guidance, without reassessing (a) whether the contracts contain leases under Topic 842, (b) whether classification of the operating leases would be different in accordance with ASC Topic 842, or (c) whether the unamortized initial direct costs before transition adjustments, if any, would have met the definition of initial direct costs in ASC Topic 842 at lease commencement. As a result of the adoption of the new lease accounting guidance, the Company recognized on January 1, 2018 (the beginning of the earliest period presented on the balance sheet): (a) a lease liability of $10.3 million , which represents the present value of the remaining lease payments of $11.0 million , discounted using the Company's incremental borrowing rate at the time of adoption of the respective leases, and (b) a right-of-use asset of $10.3 million , which represents the total lease liability adjusted for any unamortized initial direct costs. The Company also elected not to recognize and measure any short-term lease, which is a lease that, at the commencement date, has a term of 12 months or less and does not contain an option to purchase the underlying asset that the lessee is reasonably certain to exercise.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories The Company’s inventories consist of the following as of December 31: 2019 2018 Finished goods $ 26,559,194 $ 21,283,354 Raw materials 17,641,335 15,206,526 Supplies & miscellaneous 269,523 226,134 Totals $ 44,470,052 $ 36,716,014 Finished goods and raw materials are valued at estimated market value, which approximates net realizable value. In addition, futures and option contracts are marked to market through cost of revenues, with unrealized gains and losses recorded in the above inventory amounts. Supplies and other inventories are stated at net realizable value.

Margin Deposits

Margin Deposits	12 Months Ended
	Dec. 31, 2019
Margin Deposits [Abstract]
Margin Deposits	Margin Deposits The Company has margin deposits with a commodity brokerage firm used to acquire futures and option contracts to manage the price volatility risk of soybeans, crude soybean oil and soybean meal. Consistent with its inventory accounting policy, these contracts are recorded at market value. At December 31, 2019 , the Company’s futures contracts all mature within 12 months .

Investments in Cooperatives

Investments in Cooperatives	12 Months Ended
	Dec. 31, 2019
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Investments in Cooperatives	Investments in Cooperatives The Company’s investments in cooperatives consist of the following at December 31: 2019 2018 CoBank $ 1,562,098 $ 1,552,022 During 2017, the Company sold its shares in Minnesota Soybean Processors for $3,258,180 resulting in a loss of $1,451,978 .

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment The following is a summary of property and equipment at December 31: 2019 2018 Cost Accumulated Depreciation Net Net Land $ 516,326 $ — $ 516,326 $ 516,326 Land improvements 2,158,383 (613,295 ) 1,545,088 1,556,183 Buildings and improvements 22,294,006 (9,486,162 ) 12,807,844 12,588,664 Machinery and equipment 84,180,577 (42,700,456 ) 41,480,121 38,513,796 Railroad cars 1,238,508 (30,963 ) 1,207,545 1,232,315 Company vehicles 146,754 (110,722 ) 36,032 16,307 Furniture and fixtures 1,363,744 (904,591 ) 459,153 543,801 Construction in progress 6,465,095 — 6,465,095 4,100,622 Totals $ 118,363,393 $ (53,846,189 ) $ 64,517,204 $ 59,068,014 Depreciation of property and equipment amounts to $4,487,460 , $4,155,061 , and $3,621,564 for the years ended December 31, 2019 , 2018 , and 2017 , respectively.

Notes Payable - Seasonal Loan

Notes Payable - Seasonal Loan	12 Months Ended
	Dec. 31, 2019
Notes Payable Seasonal Loan [Abstract]
Notes Payable - Seasonal Loan	Notes Payable - Seasonal Loan Prior to the amendment described in Note 19, the Company had entered into a revolving credit agreement with CoBank which expires February 1, 2020 . The purpose of the credit agreement is to finance the operating needs of the Company. Under this agreement, the Company could borrow up to $20 million , and advances on the revolving credit agreement are secured. Interest accrues at a variable rate ( 3.99% at December 31, 2019 ).The Company pays a 0.20% annual commitment fee on any funds not borrowed. There were advances outstanding of $1,743,029 and $0 at December 31, 2019 and 2018 , respectively. The remaining available funds to borrow under the terms of the revolving credit agreement are approximately $18.3 million as of December 31, 2019 .

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The following is a summary of the Company's long-term debt at December 31, 2019 and 2018 : 2019 2018 Revolving term loan from CoBank, interest at variable rates (4.24% and 4.96% at December 31, 2019 and 2018, respectively), secured by substantially all property and equipment. Loan matures September 20, 2023. $ 16,000,000 $ — Note payable to Brookings Regional Railroad Authority, due in annual principal and interest installments of $75,500, interest rate at 2.00%, secured by railroad track assets. Note matures June 1, 2020. 603,342 665,222 Total debt before current maturities and debt issuance costs 16,603,342 665,222 Less current maturities (4,603,342 ) (61,964 ) Less debt issuance costs, net of amortization of $5,923 and $3,769 as of December 31, 2019 and 2018, respectively (8,077 ) (10,231 ) Totals $ 11,991,923 $ 593,027 Prior to the amendments described in Note 19, the Company entered into an agreement as of March 28, 2017 with CoBank to amend and restate its Credit Agreement, which includes both the revolving term and seasonal loans. Under the terms and conditions of the Credit Agreement, CoBank agreed to make advances to the Company for up to $24,000,000 on the revolving term loan with a variable effective interest rate of 4.24% . The available commitment decreases in scheduled periodic increments of $2,000,000 every six months starting March 20, 2018 until maturity on September 20, 2023 . The Company pays a 0.40% annual commitment fee on any funds not borrowed. The debt issuance costs of $14,000 paid by the Company on this amendment will be amortized over the term of the loan. The principal balance outstanding on the revolving term loan was $16.0 million and $0 as of December 31, 2019 and 2018 , respectively. There were no remaining commitments available to borrow on the revolving term loan as of December 31, 2019 . Under this agreement, the Company is subject to compliance with standard financial covenants and the maintenance of certain financial ratios. The Company was in compliance with all covenants and conditions with CoBank as of December 31, 2019 . Effective March 1, 2013, the State of South Dakota Department of Transportation agreed to loan the Brookings County Regional Railway Authority $964,070 for purposes of making improvements to the railway infrastructure near the Company's soybean processing facility near Volga, South Dakota. In consideration of this secured loan, the Company agreed to provide a guarantee to the State of South Dakota Department of Transportation for the full amount of the loan, plus interest. This guarantee was converted into a direct obligation of the Company's on October 16, 2013, when the Company received the entire loan proceeds and assumed responsibility for paying the annual principal and interest payments. The following are minimum principal payments on long-term debt obligations for the years ended December 31: 2020 $ 4,603,342 2021 4,000,000 2022 4,000,000 2023 4,000,000 Total $ 16,603,342

Operating Leases

Operating Leases	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Operating Leases	Operating Leases The Company has several operating leases for railcars. These leases have terms ranging from 3 - 18 years and do not have renewal terms provided. The leases require the Company to maintain the condition of the railcars, restrict the use of the railcars to specified products, such as soybean meal, hulls or oil, limit usage to the continental United States, Canada or Mexico, require approval to sublease to other entities, and require the Company's submission of its financial statements. Lease expense for all railcars was $3,086,823 , $3,132,935 , and $3,310,326 for the years ended December 31, 2019 , 2018 , and 2017 , respectively. The following is a schedule of the Company's operating leases for railcars as of December 31, 2019 : Lessor Quantity of Railcars Commencement Date Maturity Date Monthly Payment American Railcar Leasing 30 7/1/2015 6/30/2021 $ 30,780 Andersons Railcar Leasing Co. 10 7/1/2018 6/30/2023 5,000 Andersons Railcar Leasing Co. 20 7/1/2019 6/30/2026 11,300 GATX Corporation 15 7/1/2017 6/30/2020 4,500 Midwest Railcar Corporation 64 1/1/2015 12/31/2021 27,200 Trinity Capital 88 8/1/2002 7/31/2020 33,704 Trinity Capital 29 12/1/2015 11/30/2020 28,536 Trinity Capital 20 10/1/2015 9/30/2020 13,600 Wells Fargo Rail 112 8/1/2017 7/31/2022 52,557 Wells Fargo Rail 107 1/1/2018 12/31/2022 35,845 Wells Fargo Rail 7 1/1/2004 12/31/2021 2,926 Wells Fargo Rail 15 1/1/2004 12/31/2021 5,850 Wells Fargo Rail 8 1/1/2015 12/31/2021 3,600 Totals 525 $ 255,398 The Company also has a number of other operating leases for machinery and equipment. These leases have terms ranging from 3 - 7 years ; however, most of these leases have automatic renewal terms. These leases require monthly payments of $3,912 . Rental expense under these other operating leases was $56,322 , $58,954 , and $46,771 , for the years ended December 31, 2019 , 2018 , and 2017 , respectively. Operating leases are included in right-to-use lease assets, current operating lease liabilities, and long-term lease liabilities on the Company's balance sheets. These assets and liabilities are recognized at the commencement date based on the present value of remaining lease payments over the lease term using the Company's secured incremental borrowing rates or implicit rates, when readily determinable. Short-term operating leases, which have an initial term of 12 months or less, are not recorded on the balance sheet. Lease expense for these operating leases is recognized on a straight-line basis over the lease terms. The components of lease costs recognized within our statements of operations for the years ended December 31, 2019 , 2018 , and 2017 were as follows: 2019 2018 2017 Cost of revenues - Freight and rail $ 3,086,823 $ 3,132,935 $ 3,310,326 Cost of revenues - Production 43,783 47,496 37,756 Administration expenses 12,539 11,458 9,015 Total operating lease costs $ 3,143,145 $ 3,191,889 $ 3,357,097 The following summarizes the supplemental cash flow information for the years ended December 31, 2019 , 2018 , and 2017 : 2019 2018 2017 Cash paid for amounts included in measurement of lease liabilities $ 3,019,990 $ 2,930,721 $ 2,047,875 Supplemental non-cash information: Right-of-use assets obtained in exchange for lease liabilities $ 809,916 $ 457,856 $ 2,141,091 The following summarizes the weighted-average remaining lease term and weighted-average discount rate: December 31, 2019 Weighted-average remaining lease term - operating leases (in years) 2.9 Weighted-average discount rate - operating leases 3.8 % The following is a maturity analysis of the undiscounted cash flows of the operating lease liabilities as of December 31, 2019 : Railcars Other Total Year ended December 31: 2020 $ 2,747,364 $ 43,636 $ 2,791,000 2021 1,916,017 40,211 1,956,228 2022 1,046,197 40,211 1,086,408 2023 165,600 32,757 198,357 2024 135,600 20,505 156,105 Thereafter 203,400 — 203,400 Total lease payments 6,214,178 177,320 6,391,498 Less amount of lease payments representing interest (393,513 ) (18,214 ) (411,727 ) Total present value of lease payments $ 5,820,665 $ 159,106 $ 5,979,771

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2019
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company maintains a Section 401(k) plan for employees who meet the eligibility requirements set forth in the plan documents. The Company matches a percentage of an employee's contributed earnings. The amounts charged to expense under this plan were approximately $186,000 , $210,000 , and $163,000 for the years ended December 31, 2019 , 2018 , and 2017 , respectively. The Company's Board of Managers approved payment of a profit-based incentive bonus to be awarded to eligible employees following the close of each fiscal year. The Board has allocated approximately 4.6% of profits over $2 million to fund this benefit. Individual amounts are based upon criteria determined by a formula that considers current pay, level of responsibility, and impact on profits of each position. The amounts charged to expense under this incentive were approximately $442,000 , $1,161,000 , and $291,000 for the years ended December 31, 2019 , 2018 , and 2017 , respectively.

Cash Flow Information

Cash Flow Information	12 Months Ended
	Dec. 31, 2019
Cash Flow Information [Abstract]
Cash Flow Information	Cash Flow Information The following is a schedule of changes in assets and liabilities used to determine cash from operating activities: 2019 2018 2017 (Increase) decrease in assets: Trade accounts receivable $ (3,870,119 ) $ (749,792 ) $ 551,935 Inventories (7,754,038 ) 1,250,073 (5,572,666 ) Margin account deposit (4,421,308 ) 2,026,900 (1,976,860 ) Prepaid expenses (392,579 ) 86,764 (122,285 ) (16,438,044 ) 2,613,945 (7,119,876 ) 2019 2018 2017 Increase (decrease) in liabilities: Accounts payable 2,579,559 392,646 475,956 Accrued commodity purchases (4,037,857 ) (2,258,421 ) 1,954,659 Accrued expenses and interest (733,416 ) 1,362,624 (236,732 ) Deferred liabilities (343,926 ) (1,469,278 ) 228,217 (2,535,640 ) (1,972,429 ) 2,422,100 Totals $ (18,973,684 ) $ 641,516 $ (4,697,776 )

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	12 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities In the ordinary course of business, the Company enters into contractual arrangements as a means of managing exposure to changes in commodity prices and, occasionally, foreign exchange and interest rates. The Company’s derivative instruments primarily consist of commodity futures, options and forward contracts and interest rate swaps, caps and floors. Although these contracts may be effective economic hedges of specified risks, they are not designated as, nor accounted for, as hedging instruments. These contracts are recorded on the Company’s balance sheets at fair value as discussed in Note 14, Fair Value. As of December 31, 2019 and 2018 , the value of the Company’s open futures, options and forward contracts was approximately $(5,955,928) and $802,770 , respectively. Amounts As of December 31, 2019 Balance Sheet Classification Asset Derivatives Liability Derivatives Derivatives not designated as hedging instruments: Commodity contracts Current Assets $ 3,320,161 $ 8,930,683 Foreign exchange contracts Current Assets 29,696 27,582 Interest rate caps and floors Current Liabilities — 347,520 Totals $ 3,349,857 $ 9,305,785 Amounts As of December 31, 2018 Balance Sheet Classification Asset Derivatives Liability Derivatives Derivatives not designated as hedging instruments: Commodity contracts Current Assets $ 3,696,540 $ 2,722,830 Foreign exchange contracts Current Assets 129,258 100,730 Interest rate caps and floors Current Liabilities — 199,468 Totals $ 3,825,798 $ 3,023,028 During the years ended December 31, 2019 , 2018 , and 2017 , net realized and unrealized gains (losses) on derivative transactions were recognized in the statements of operations as follows: Net Gain (Loss) Recognized on Derivative Activities for the Year Ending December 31: 2019 2018 2017 Derivatives not designated as hedging instruments: Commodity contracts $ (4,057,389 ) $ 8,594,290 $ 5,302,090 Foreign exchange contracts 54,966 (29,269 ) 109,211 Interest rate swaps, caps and floors (148,053 ) 105,155 (1,323 ) Totals $ (4,150,476 ) $ 8,670,176 $ 5,409,978 The Company recorded gains (losses) of $(4,150,476) , $8,670,176 , and $5,409,978 in cost of goods sold related to its commodity derivative instruments for the years ended December 31, 2019 , 2018 , and 2017 , respectively.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value ASC 820, Fair Value Measurements and Disclosures, defines fair value, establishes a comprehensive framework for measuring fair value and expands disclosures which are required about fair value measurements. Specifically, this guidance establishes a hierarchy prioritizing the inputs to valuation techniques, giving the highest priority to quoted prices in active markets for identical assets and liabilities and the lowest priority to unobservable value inputs. The three levels of hierarchy and examples are as follows: • Level 1 – Quoted prices are available in active markets for identical assets or liabilities as of the reported date. The types of assets and liabilities included in Level 1 are highly liquid and actively traded instruments with quoted prices, such as equities listed on the New York Stock Exchange and commodity derivative contracts listed on the Chicago Board of Trade (“CBOT”). • Level 2 – Pricing inputs are other than quoted prices in active markets, but are either directly or indirectly observable as of the reported date. The types of assets and liabilities in Level 2 are typically either comparable to actively traded securities or contracts, or priced with models using highly observable inputs, such as commodity prices using forward future prices. • Level 3 – Significant inputs to pricing that are unobservable as of the reporting date. The types of assets and liabilities included in Level 3 are those with inputs requiring significant management judgment or estimation, such as complex and subjective models and forecasts used to determine the fair value of financial transmission rights. The following tables set forth financial assets and liabilities measured at fair value in the balance sheets and the respective levels to which fair value measurements are classified within the fair value hierarchy as of December 31, 2019 and 2018 : Fair Value as of December 31, 2019 Level 1 Level 2 Level 3 Total Financial assets: Inventory $ (5,610,521 ) $ 49,717,733 $ — $ 44,107,212 Margin deposits $ 6,772,160 $ — $ — $ 6,772,160 Fair Value as of December 31, 2018 Level 1 Level 2 Level 3 Total Financial Assets: Inventory $ 973,710 $ 35,338,531 $ — $ 36,312,241 Margin deposits $ 2,350,852 $ — $ — $ 2,350,852 In accordance with ASC 825, Financial Instruments , the Company enters into various commodity derivative instruments, including futures, options, swaps and other agreements. The fair value of the Company’s commodity derivatives is determined using unadjusted quoted prices for identical instruments on the CBOT. The Company estimates the fair market value of their finished goods and raw materials inventories using the market price quotations of similar forward future contracts listed on the CBOT and adjusts for the local market adjustments derived from other grain terminals in the area. This market adjustment caused a negative balance in the Level 1 inventory amount as of December 31, 2019. The Company considers the carrying amount of significant classes of financial instruments on the balance sheets, including cash, accounts receivable, and accounts payable, to be reasonable estimates of fair value due to their length or maturity. The fair value of the Company’s long-term debt approximates the carrying value. The interest rates on the long-term debt are similar to rates the Company would be able to obtain currently in the market. The Company has patronage investments in other cooperatives and common and preferred stock holdings in privately held entities. There is no market for their patronage credits or the entity’s common and preferred holdings, and it is impracticable to estimate the fair value of the Company’s investments. These investments are carried on the balance sheet at original cost plus the amount of patronage earnings allocated to the Company, less any cash distributions received.

Business Credit Risk and Concen

Business Credit Risk and Concentrations	12 Months Ended
	Dec. 31, 2019
Risks and Uncertainties [Abstract]
Business Credit Risk and Concentration	Business Credit Risk and Concentrations The Company also grants credit to customers throughout the United States and Canada. The Company evaluates each customer’s credit worthiness on a case-by-case basis. Accounts receivable are generally unsecured. These receivables were $24,417,969 and $20,521,900 at December 31, 2019 and 2018 , respectively. Soybean meal sales accounted for approximately 63% , 64% , and 59% of total revenues for the years ended December 31, 2019 , 2018 , and 2017 , respectively. Soybean oil sales represented approximately 33% , 33% , and 38% of total revenues for the years ended December 31, 2019 , 2018 , and 2017 , respectively. Net revenue by geographic area for the years ended December 31, 2019 , 2018 , and 2017 are as follows: 2019 2018 2017 United States $ 296,767,276 $ 306,474,381 $ 300,879,962 Canada 74,508,490 85,290,302 74,879,375 Totals $ 371,275,766 $ 391,764,683 $ 375,759,337

Members' Equity

Members' Equity	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Members' Equity	Members' Equity A minimum of 2,500 capital units is required for an ownership interest in the Company. Such units are subject to certain transfer restrictions. The Company retains the right to redeem the units at the greater of $0.20 per unit or the original purchase price less cumulative distributions through the date of redemption in the event a member attempts to dispose of the units in a manner not in conformity with the Operating Agreement, if a member becomes a holder of less than 2,500 units, or if a member becomes an owner (directly or indirectly) of more than 10% of the issued and outstanding capital units. Earnings, losses and cash distributions are allocated to members based on their percentage of ownership in the Company. On February 5, 2019, the Company's Board of Managers approved a cash distribution of approximately $15.2 million , or 50.0 cent s per capital unit. The distribution was paid in accordance with the Company's operating agreement and distribution policy on February 7, 2019.

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies As of December 31, 2019 , the Company had unpaid commitments of approximately $76,000 for construction and acquisition of property and equipment, all of which is expected to be incurred by December 2020. From time to time in the ordinary course of our business, we may be named as a defendant in legal proceedings related to various issues, including without limitation, workers’ compensation claims, tort claims, or contractual disputes. We carry insurance that provides protection against general commercial liability claims, claims against our directors, officers and employees, business interruption, automobile liability, and workers’ compensation claims. We are not currently involved in any material legal proceedings and are not aware of any potential claims.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Except for the events listed below, we evaluated all of our activity and concluded that no subsequent events have occurred that would require recognition in our financial statements or disclosed in the notes to our financial statements. On January 21, 2020, the Company’s Board of Managers declared a cash distribution to its members of approximately $6.7 million . The distribution was issued and paid to members on February 7, 2020 in accordance with the Company's operating agreement and distribution policy. On January 27, 2020, the Company entered into an amendment of the seasonal loan and revolving term loan agreements with CoBank. Under the seasonal loan, the maximum amount that the Company may borrow is increased from $20 million to $28 million until the loan matures on December 1, 2020 . Under the revolving term loan, the amount that the Company may borrow is increased from $16 million to $26 million . The amount available for borrowing on the revolving term loan, however, will decrease by $2 million every six months beginning on March 20, 2020, with a scheduled balloon payment for the remaining balance on the loan's maturity date of September 20, 2023 . All other material items and conditions under the seasonal loan and revolving term loan agreements remain unchanged following these amendments.

Equity Investment in Affiliate

Equity Investment in Affiliate (Notes)	12 Months Ended
	Dec. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]
Equity Investment in Affiliate	Investments in Related Parties In 2016, the Company purchased convertible promissory notes from Prairie AquaTech, LLC with face amounts totaling $2.0 million . In 2017, the Company converted these notes, along with $161,563 of accrued interest, into 142,489 Series A Units in Prairie AquaTech, LLC. The units are approximately 8.9% of Prairie AquaTech, LLC's issued and outstanding equity securities. Prior to October 2019, the Company accounted for the investment in Prairie AquaTech, LLC using the equity method due to the Company's ability to exercise significant influence based on its board position. The Company recognized losses of $135,588 , $61,198 , and $411,050 in 2019 , 2018 , and 2017 , respectively, which is included in other non-operating income (expense). In October 2019, the Company ceased the accounting for its investment in Prairie AquaTech, LLC under the equity method, and began accounting for the investment at fair value as a result of its decreased ability to exercise significant influence due to an increased quantity of board positions. On February 20, 2018, the Company invested $5.0 million in Prairie AquaTech Investments, LLC, which is approximately 10.9% of Prairie AquaTech Investments, LLC's issued and outstanding equity securities. A substantial portion of this investment was subsequently invested in Prairie AquaTech Manufacturing, LLC, a company formed to construct and operate the manufacturing facility that produces and sells a high protein feed ingredient derived from agricultural products such as soybeans. In addition, the Company contributed various construction and management services in exchange for a 3.3% equity interest in Prairie AquaTech Manufacturing, LLC. The remaining portion of the $5.0 million investment in Prairie AquaTech Investments, LLC was made in Prairie AquaTech, LLC, in which the Company previously invested directly in 2016. On April 3, 2018, the Company entered into two agreements with Prairie AquaTech Manufacturing, LLC to perform various management services and to serve as the owner's representative during the construction of its new manufacturing facility adjacent to the Company's plant in Volga, South Dakota. The Company received a total of $1.72 million in compensation for those services of which $400,000 was received in cash and $1.32 million in preferred equity units. The equity units represent approximately 4.1% of Prairie AquaTech Manufacturing, LLC's issued and outstanding equity securities. The Company accounts for the investments in Prairie AquaTech Investments, LLC and Prairie AquaTech Manufacturing, LLC using the fair value method in ASU No. 2016-01 . The Company has elected to utilize the measurement alternative for equity investments that do not have readily determinable fair values and measure these investments at their cost less any impairment plus or minus any observable price changes in orderly transactions.

Related Party Transactions (Not

Related Party Transactions (Notes)	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company sold soybean products to Prairie AquaTech, LLC and Prairie AquaTech Manufacturing, LLC totaling $1,582,064 , $314,420 , and $138,442 during the years ended December 31, 2019 , 2018 , and 2017 , respectively. As of December 31, 2019 and 2018 , Prairie AquaTech, LLC owed the Company $104,947 and $18,540 , respectively. The Company has entered into agreements with Prairie AquaTech Manufacturing, LLC to perform various management services and to serve as the owner's representative during the construction of its new manufacturing facility adjacent to the Company's plant in Volga, South Dakota. The Company received a total of $1.72 million in compensation for those services, which was recorded in deferred liabilities on the Company's balance sheet. As of December 31, 2019 and 2018 , the balance remaining in deferred liabilities was $101,111 and $777,342 , respectively. The Company recognized revenues from management services of $758,931 and $942,658 during the years ended December 31, 2019 and 2018 , respectively.

Principal Activity and Signif_2

Principal Activity and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and Cash Equivalents, Polic	Cash and cash equivalents The Company considers all highly liquid investment instruments with original maturities of three months or less at the time of acquisition to be cash equivalents.
Trade and Other Accounts Receivable, Policy	Accounts receivable are considered past due when payments are not received on a timely basis in accordance with the Company’s credit terms, which is generally 30 days from invoice date. Accounts considered uncollectible are written off. The Company’s estimate of the allowance for doubtful accounts is based on historical experience, its evaluation of the current status of receivables, and unusual circumstances, if any.
Inventory, Policy	Inventories Finished goods (soybean meal, oil, refined oil, and hulls) and raw materials (soybeans) are valued at net realizable value. This accounting policy is in accordance with the guidelines described in Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 905, Agriculture (formerly AICPA Statement of Position No. 85-3, Accounting by Agricultural Producers and Agricultural Cooperatives). Supplies and other inventories are stated at net realizable value.
Cost Method Investments, Policy	Investments The Company accounts for its equity investments in Prairie AquaTech, LLC, Prairie AquaTech Manufacturing, LLC, and Prairie AquaTech Investments, LLC using Accounting Standards Update (ASU) No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities . All equity securities that do not result in consolidation and are not accounted for under the equity method are measured at fair value with changes therein reflected in net income. We have elected to utilize the measurement alternative for equity investments that do not have readily determinable fair values and measure these investments at cost less any impairment plus or minus observable price changes in orderly transactions. Prior to October 1, 2019, the Company accounted for its investment in Prairie AquaTech, LLC using the equity method due to the Company's ability to influence management decisions of Prairie AquaTech, LLC, due to its Board position on the Entity's Board of Managers. While the Company still holds its position on that entity's Board of Managers, the Company's ability to influence management decisions has been reduced due to additional quantity of board seats outstanding. Therefore, the Company ceased its accounting for its investment in Prairie AquaTech, LLC under the equity method, and began accounting for the investment using ASU No. 2016-01.
Property, Plant and Equipment, Policy	Property and equipment Property and equipment is stated at cost. Expenditures for renewals and improvements that significantly add to the productive capacity or extend the useful life of an asset are capitalized. Expenditures for maintenance and repairs are charged to expense when incurred. When depreciable properties are sold or retired, the cost and accumulated depreciation are eliminated from the accounts and the resultant gain or loss is reflected in income. Depreciation is provided for over the estimated useful lives of the individual assets using the straight-line method. The range of the estimated useful lives used in the computation of depreciation is as follows: Building and improvements 10-39 years Equipment and furnishings 3-15 years Railcars 50 years The Company reviews its long-lived assets for impairment whenever events indicate that the carrying amount of the asset may not be recoverable. If impairment indicators are present and the future cash flows is less than the carrying amount of the assets, values are reduced to the estimated fair value of those assets.
Revenue Recognition, Deferred Revenue	Deferred revenue The Company recognizes revenues as earned. Amounts received in advance of the period in which service is rendered are recorded as a liability under “Deferred liabilities”.
Use of Estimates, Policy	Use of estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Revenue Recognition, Policy	Revenue The Company accounts for all of its revenues from contracts with customers under ASC 606, Revenue from Contracts with Customers. The Company principally generates revenue from merchandising and transporting manufactured agricultural products used as ingredients in food, feed, energy and industrial products. Revenue is measured based on the consideration specified in the contract with a customer, and excludes any amounts collected on behalf of third parties (e.g. - taxes). The Company follows a policy of recognizing revenue at a single point in time when it satisfies its performance obligation by transferring control over a product to a customer. Control transfer typically occurs when goods are shipped from our facilities or at other predetermined control transfer points (for instance, destination terms). Shipping and handling costs related to contracts with customers for sale of goods are accounted for as a fulfillment activity and are included in cost of revenues. Accordingly, amounts billed to customers for such costs are included as a component of revenues. Payments received in advance to the transfer of goods, or "contract liabilities", are included in "Deferred liabilities - current" on the Company's balance sheets. These customer prepayments totaled $313,347 and $15,042 as of December 31, 2019 and 2018 , respectively. All of the $15,042 balance as of December 31, 2018 was recognized as revenue during the year ended December 31, 2019 . The following table presents a disaggregation of revenue from contracts with customers for the years ended December initiated 31, 2019 , 2018 , and 2017 , by product type: 2019 2018 2017 Soybean meal and hulls $ 244,012,663 $ 257,440,362 $ 228,685,518 Soybean oil and oil byproducts 127,263,103 134,324,321 147,073,819 Totals $ 371,275,766 $ 391,764,683 $ 375,759,337
Revenue Recognition, Cargo and Freight, Policy	Freight The Company presents all amounts billed to the customer for freight as a component of net revenue. Costs incurred for freight are reported as a component of cost of revenue.
Advertising Costs, Policy	Advertising costs Advertising and promotion costs are expensed as incurred. The Company incurred $76,000 , $55,000 , and $57,000 , of advertising costs in the years ended December 31, 2019 , 2018 , and 2017 , respectively.
Regulatory Environmental Costs, Policy	Environmental remediation It is management’s opinion that the amount of any potential environmental remediation costs will not be material to the Company’s financial condition, results of operations, or cash flows; therefore, no accrual has been recorded.
Derivatives, Methods of Accounting, Hedging Derivatives	Accounting for derivative instruments and hedging activities All of the Company’s derivatives are designated as non-hedge derivatives. The futures and options contracts, as well as the interest rate swaps, caps and floors, used by the Company are discussed below. Although the contracts may be effective economic hedges of specified risks, they are not designated as, nor accounted for, as hedging instruments. The Company, as part of its trading activity, uses futures and option contracts offered through regulated commodity exchanges to reduce risk. The Company is exposed to risk of loss in the market value of inventories. To reduce that risk, the Company generally takes opposite and offsetting positions using futures contracts or options. Unrealized gains and losses on futures and options contracts used to hedge soybean, oil and meal inventories, as well as foreign exchange rates, are recognized as a component of net proceeds for financial reporting. Inventories are recorded at estimated market value. Consequently, unrealized gains and losses on derivative contracts are offset by unrealized gains and losses on inventories and reflected in current earnings. The Company uses interest rate swaps, caps and floors offered through regulated commodity exchanges. The Company is exposed to risk of loss resulting from potential increases in interest rates on their variable rate debt. To reduce that risk, the Company has purchased interest rate swaps, caps and floors. Unrealized gains and losses on interest rate swaps, caps and floors are reflected in current earnings immediately.
Earnings Per Share, Policy	Earnings per capital unit Earnings per capital unit are calculated based on the weighted average number of capital units outstanding. The Company has no other capital units or other member equity instruments that are dilutive for purposes of calculating earnings per capital unit.
Income Tax, Policy	Income taxes As a limited liability company, the Company’s taxable income or loss is allocated to members in accordance with their respective percentage ownership. Therefore, no provision or liability for income taxes has been included in the financial statements. The Company has evaluated the provisions of FASB ASC 740-10 for uncertain tax positions. As of December 31, 2019 and 2018 , the unrecognized tax benefit accrual was zero. The Company will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if incurred. As of December 31, 2019 , the book value of the Company’s net assets exceeds the tax basis of those assets by approximately $19.8 million . The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. We are no longer subject to income tax examinations by U.S. federal and state tax authorities for years prior to 2016. We currently have no tax years under examination.
New Accounting Pronouncements, Policy	Recent accounting pronouncements Effective January 1, 2019, the Company adopted ASU No. 2016-02 (Leases). The standard requires companies to recognize operating lease assets and liabilities on the balance sheet and disclose key information regarding its leasing arrangements. The Company has elected the package of practical expedients permitted in ASC Topic 842. Accordingly, the Company accounted for all its leases as operating leases under the new guidance, without reassessing (a) whether the contracts contain leases under Topic 842, (b) whether classification of the operating leases would be different in accordance with ASC Topic 842, or (c) whether the unamortized initial direct costs before transition adjustments, if any, would have met the definition of initial direct costs in ASC Topic 842 at lease commencement. As a result of the adoption of the new lease accounting guidance, the Company recognized on January 1, 2018 (the beginning of the earliest period presented on the balance sheet): (a) a lease liability of $10.3 million , which represents the present value of the remaining lease payments of $11.0 million , discounted using the Company's incremental borrowing rate at the time of adoption of the respective leases, and (b) a right-of-use asset of $10.3 million , which represents the total lease liability adjusted for any unamortized initial direct costs. The Company also elected not to recognize and measure any short-term lease, which is a lease that, at the commencement date, has a term of 12 months or less and does not contain an option to purchase the underlying asset that the lessee is reasonably certain to exercise.

Accounts Receivable (Tables)

Accounts Receivable (Tables)	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Past Due Financing Receivables	The following table presents the aging analysis of trade receivables as of December 31, 2019 and 2018 : 2019 2018 Past due: Less than 30 days past due $ 4,306,064 $ 5,362,970 30-59 days past due 341,956 387,670 60-89 days past due 10,302 101,687 Greater than 90 days past due 14,162 84 Total past due 4,672,484 5,852,411 Current 19,748,073 14,698,027 Totals $ 24,420,557 $ 20,550,438
Schedule of Accounts, Notes, Loans and Financing Receivable	The following table provides information regarding the Company’s allowance for doubtful accounts receivable as of December 31, 2019 , 2018 , and 2017 : 2019 2018 2017 Balances, beginning of year $ — $ — $ — Amounts charged (credited) to costs and expenses — 42,909 — Additions (deductions) — (42,909 ) — Balances, end of year $ — $ — $ —

Principal Activity and Signif_3

Principal Activity and Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Disaggregation of Revenue	The following table presents a disaggregation of revenue from contracts with customers for the years ended December initiated 31, 2019 , 2018 , and 2017 , by product type: 2019 2018 2017 Soybean meal and hulls $ 244,012,663 $ 257,440,362 $ 228,685,518 Soybean oil and oil byproducts 127,263,103 134,324,321 147,073,819 Totals $ 371,275,766 $ 391,764,683 $ 375,759,337

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2019
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	The Company’s inventories consist of the following as of December 31: 2019 2018 Finished goods $ 26,559,194 $ 21,283,354 Raw materials 17,641,335 15,206,526 Supplies & miscellaneous 269,523 226,134 Totals $ 44,470,052 $ 36,716,014

Investments in Cooperatives (Ta

Investments in Cooperatives (Tables)	12 Months Ended
	Dec. 31, 2019
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Schedule Of Investment In Co Operatives	The Company’s investments in cooperatives consist of the following at December 31: 2019 2018 CoBank $ 1,562,098 $ 1,552,022

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	The following is a summary of property and equipment at December 31: 2019 2018 Cost Accumulated Depreciation Net Net Land $ 516,326 $ — $ 516,326 $ 516,326 Land improvements 2,158,383 (613,295 ) 1,545,088 1,556,183 Buildings and improvements 22,294,006 (9,486,162 ) 12,807,844 12,588,664 Machinery and equipment 84,180,577 (42,700,456 ) 41,480,121 38,513,796 Railroad cars 1,238,508 (30,963 ) 1,207,545 1,232,315 Company vehicles 146,754 (110,722 ) 36,032 16,307 Furniture and fixtures 1,363,744 (904,591 ) 459,153 543,801 Construction in progress 6,465,095 — 6,465,095 4,100,622 Totals $ 118,363,393 $ (53,846,189 ) $ 64,517,204 $ 59,068,014

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Schedule of Debt	2019 2018 Revolving term loan from CoBank, interest at variable rates (4.24% and 4.96% at December 31, 2019 and 2018, respectively), secured by substantially all property and equipment. Loan matures September 20, 2023. $ 16,000,000 $ — Note payable to Brookings Regional Railroad Authority, due in annual principal and interest installments of $75,500, interest rate at 2.00%, secured by railroad track assets. Note matures June 1, 2020. 603,342 665,222 Total debt before current maturities and debt issuance costs 16,603,342 665,222 Less current maturities (4,603,342 ) (61,964 ) Less debt issuance costs, net of amortization of $5,923 and $3,769 as of December 31, 2019 and 2018, respectively (8,077 ) (10,231 ) Totals $ 11,991,923 $ 593,027
Schedule of Maturities of Long-term Debt	minimum principal payments on long-term debt obligations for the years ended December 31: 2020 $ 4,603,342 2021 4,000,000 2022 4,000,000 2023 4,000,000 Total $ 16,603,342

Operating Leases (Tables)

Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Schedule of Operating Leases	The following is a schedule of the Company's operating leases for railcars as of December 31, 2019 : Lessor Quantity of Railcars Commencement Date Maturity Date Monthly Payment American Railcar Leasing 30 7/1/2015 6/30/2021 $ 30,780 Andersons Railcar Leasing Co. 10 7/1/2018 6/30/2023 5,000 Andersons Railcar Leasing Co. 20 7/1/2019 6/30/2026 11,300 GATX Corporation 15 7/1/2017 6/30/2020 4,500 Midwest Railcar Corporation 64 1/1/2015 12/31/2021 27,200 Trinity Capital 88 8/1/2002 7/31/2020 33,704 Trinity Capital 29 12/1/2015 11/30/2020 28,536 Trinity Capital 20 10/1/2015 9/30/2020 13,600 Wells Fargo Rail 112 8/1/2017 7/31/2022 52,557 Wells Fargo Rail 107 1/1/2018 12/31/2022 35,845 Wells Fargo Rail 7 1/1/2004 12/31/2021 2,926 Wells Fargo Rail 15 1/1/2004 12/31/2021 5,850 Wells Fargo Rail 8 1/1/2015 12/31/2021 3,600 Totals 525 $ 255,398
Lease, Cost	The components of lease costs recognized within our statements of operations for the years ended December 31, 2019 , 2018 , and 2017 were as follows: 2019 2018 2017 Cost of revenues - Freight and rail $ 3,086,823 $ 3,132,935 $ 3,310,326 Cost of revenues - Production 43,783 47,496 37,756 Administration expenses 12,539 11,458 9,015 Total operating lease costs $ 3,143,145 $ 3,191,889 $ 3,357,097 The following summarizes the supplemental cash flow information for the years ended December 31, 2019 , 2018 , and 2017 : 2019 2018 2017 Cash paid for amounts included in measurement of lease liabilities $ 3,019,990 $ 2,930,721 $ 2,047,875 Supplemental non-cash information: Right-of-use assets obtained in exchange for lease liabilities $ 809,916 $ 457,856 $ 2,141,091 The following summarizes the weighted-average remaining lease term and weighted-average discount rate: December 31, 2019 Weighted-average remaining lease term - operating leases (in years) 2.9 Weighted-average discount rate - operating leases 3.8 %
Lessee, Operating Lease, Liability, Maturity	The following is a maturity analysis of the undiscounted cash flows of the operating lease liabilities as of December 31, 2019 : Railcars Other Total Year ended December 31: 2020 $ 2,747,364 $ 43,636 $ 2,791,000 2021 1,916,017 40,211 1,956,228 2022 1,046,197 40,211 1,086,408 2023 165,600 32,757 198,357 2024 135,600 20,505 156,105 Thereafter 203,400 — 203,400 Total lease payments 6,214,178 177,320 6,391,498 Less amount of lease payments representing interest (393,513 ) (18,214 ) (411,727 ) Total present value of lease payments $ 5,820,665 $ 159,106 $ 5,979,771

Cash Flow Information (Tables)

Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2019
Cash Flow Information [Abstract]
Schedule Of Changes In Assets and Liabilities	The following is a schedule of changes in assets and liabilities used to determine cash from operating activities: 2019 2018 2017 (Increase) decrease in assets: Trade accounts receivable $ (3,870,119 ) $ (749,792 ) $ 551,935 Inventories (7,754,038 ) 1,250,073 (5,572,666 ) Margin account deposit (4,421,308 ) 2,026,900 (1,976,860 ) Prepaid expenses (392,579 ) 86,764 (122,285 ) (16,438,044 ) 2,613,945 (7,119,876 ) 2019 2018 2017 Increase (decrease) in liabilities: Accounts payable 2,579,559 392,646 475,956 Accrued commodity purchases (4,037,857 ) (2,258,421 ) 1,954,659 Accrued expenses and interest (733,416 ) 1,362,624 (236,732 ) Deferred liabilities (343,926 ) (1,469,278 ) 228,217 (2,535,640 ) (1,972,429 ) 2,422,100 Totals $ (18,973,684 ) $ 641,516 $ (4,697,776 )

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule Of Derivatives Assets and Liabilities Not Designated As Hedging Instruments	As of December 31, 2019 and 2018 , the value of the Company’s open futures, options and forward contracts was approximately $(5,955,928) and $802,770 , respectively. Amounts As of December 31, 2019 Balance Sheet Classification Asset Derivatives Liability Derivatives Derivatives not designated as hedging instruments: Commodity contracts Current Assets $ 3,320,161 $ 8,930,683 Foreign exchange contracts Current Assets 29,696 27,582 Interest rate caps and floors Current Liabilities — 347,520 Totals $ 3,349,857 $ 9,305,785 Amounts As of December 31, 2018 Balance Sheet Classification Asset Derivatives Liability Derivatives Derivatives not designated as hedging instruments: Commodity contracts Current Assets $ 3,696,540 $ 2,722,830 Foreign exchange contracts Current Assets 129,258 100,730 Interest rate caps and floors Current Liabilities — 199,468 Totals $ 3,825,798 $ 3,023,028
Schedule Of Derivative Instruments, Net Realized and Unrealized Gain (Loss) On Derivatives Not Designated As Hedging Instruments	During the years ended December 31, 2019 , 2018 , and 2017 , net realized and unrealized gains (losses) on derivative transactions were recognized in the statements of operations as follows: Net Gain (Loss) Recognized on Derivative Activities for the Year Ending December 31: 2019 2018 2017 Derivatives not designated as hedging instruments: Commodity contracts $ (4,057,389 ) $ 8,594,290 $ 5,302,090 Foreign exchange contracts 54,966 (29,269 ) 109,211 Interest rate swaps, caps and floors (148,053 ) 105,155 (1,323 ) Totals $ (4,150,476 ) $ 8,670,176 $ 5,409,978

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables set forth financial assets and liabilities measured at fair value in the balance sheets and the respective levels to which fair value measurements are classified within the fair value hierarchy as of December 31, 2019 and 2018 : Fair Value as of December 31, 2019 Level 1 Level 2 Level 3 Total Financial assets: Inventory $ (5,610,521 ) $ 49,717,733 $ — $ 44,107,212 Margin deposits $ 6,772,160 $ — $ — $ 6,772,160 Fair Value as of December 31, 2018 Level 1 Level 2 Level 3 Total Financial Assets: Inventory $ 973,710 $ 35,338,531 $ — $ 36,312,241 Margin deposits $ 2,350,852 $ — $ — $ 2,350,852

Business Credit Risk and Conc_2

Business Credit Risk and Concentrations (Tables)	12 Months Ended
	Dec. 31, 2019
Risks and Uncertainties [Abstract]
Schedules of Concentration of Risk, by Risk Factor	Net revenue by geographic area for the years ended December 31, 2019 , 2018 , and 2017 are as follows: 2019 2018 2017 United States $ 296,767,276 $ 306,474,381 $ 300,879,962 Canada 74,508,490 85,290,302 74,879,375 Totals $ 371,275,766 $ 391,764,683 $ 375,759,337

Accounts Receivable (Details Te

Accounts Receivable (Details Textual)	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Percentage Of Late Fee On Past Due Receivables	1.50%
Accounts receivable credit period	30 days

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due	$ 4,672,484	$ 5,852,411
Current	19,748,073	14,698,027
Totals	24,420,557	20,550,438
Financing Receivables, 1 to 29 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due	4,306,064	5,362,970
Financing Receivables, 30 to 59 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due	341,956	387,670
Financing Receivables, 60 to 89 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due	10,302	101,687
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due	$ 14,162	$ 84

Principal Activity and Signif_4

Principal Activity and Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2019
Deferred Revenue	$ 313,347	$ 15,042
Accounts receivable credit period	30 days
Advertising Expense	$ 76,000	55,000	$ 57,000
Unrecognized Tax Benefits	0	0
Deferred Tax Assets, Net Of Valuation Allowance	19,800,000
Operating Lease, Right-of-Use Asset	5,979,771	7,918,283
Liabilities, Current	56,849,932	48,880,553
Liabilities, Noncurrent	15,307,727	$ 5,796,382
Lessee, Operating Lease, Liability, Payments, Due	$ 6,391,498
Building and Building Improvements | Maximum
Property, Plant and Equipment, Estimated Useful Lives	39 years
Building and Building Improvements | Minimum
Property, Plant and Equipment, Estimated Useful Lives	10 years
Furniture and Fixtures | Maximum
Property, Plant and Equipment, Estimated Useful Lives	15 years
Furniture and Fixtures | Minimum
Property, Plant and Equipment, Estimated Useful Lives	3 years
Railcars
Property, Plant and Equipment, Estimated Useful Lives	50 years
Lessee, Operating Lease, Liability, Payments, Due	$ 6,214,178
Accounting Standards Update 2016-02 [Member]
Operating Lease, Right-of-Use Asset				$ 10,300,000
Liabilities, Noncurrent				10,300,000
Lessee, Operating Lease, Liability, Payments, Due				$ 11,000,000

Accounts Receivable (Details 1

Accounts Receivable (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Allowance for Doubtful Accounts Receivable [Roll Forward]
Balances, beginning of year	$ 0	$ 0	$ 0
Amounts charged (credited) to costs and expenses	0	42,909	0
Additions (deductions)	0	42,909	0
Balances, end of year	$ 0	$ 0	$ 0

Principal Activity and Signif_5

Principal Activity and Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Revenue	$ 371,275,766	$ 391,764,683	$ 375,759,337
Soybean meal and hulls
Disaggregation of Revenue [Line Items]
Revenue	244,012,663	257,440,362	228,685,518
Soybean oil and oil byproducts
Disaggregation of Revenue [Line Items]
Revenue	$ 127,263,103	$ 134,324,321	$ 147,073,819

Inventories (Details)

Inventories (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Finished goods	$ 26,559,194	$ 21,283,354
Raw materials	17,641,335	15,206,526
Supplies & miscellaneous	269,523	226,134
Totals	$ 44,470,052	$ 36,716,014

Margin Deposits Margin Deposits

Margin Deposits Margin Deposits (Details)	12 Months Ended
	Dec. 31, 2019
Future [Member]
Derivative [Line Items]
Contracts Maturity	12 months

Investments in Cooperatives (De

Investments in Cooperatives (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Investments in cooperatives	$ 1,562,098	$ 1,552,022
Investments in associated cooperative companies:
Proceeds from investments in cooperatives	0	0	$ 3,258,430
Loss on sale of investments in cooperatives	0	0	$ 1,451,728
Minnesota Soybean Processors | Disposal Group, Not Discontinued Operations
Investments in associated cooperative companies:
Proceeds from investments in cooperatives	3,258,180
Loss on sale of investments in cooperatives	1,451,978
Cobank
Investments in cooperatives	$ 1,562,098	$ 1,552,022

Investments in Cooperatives (_2

Investments in Cooperatives (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Proceeds from CHS, retirement of previous retained patronage	$ 32,288	$ 0	$ 0
Preferred Class B
Debt Instrument, Interest Rate, Stated Percentage	8.00%

Convertible Notes Receivable (D

Convertible Notes Receivable (Details) - Prairie AquaTech, LLC	12 Months Ended
	Dec. 31, 2019USD ($)shares
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income on convertible debt | $	$ 161,563
Converted instrument, shares issued (in shares) | shares	142,489

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Cost	$ 118,363,393	$ 110,314,779
Less accumulated depreciation	(53,846,189)	(51,246,765)
Total property and equipment, net	64,517,204	59,068,014
Land
Cost	516,326
Less accumulated depreciation	0
Total property and equipment, net	516,326	516,326
Land Improvements
Cost	2,158,383
Less accumulated depreciation	(613,295)
Total property and equipment, net	1,545,088	1,556,183
Building and Building Improvements
Cost	22,294,006
Less accumulated depreciation	(9,486,162)
Total property and equipment, net	12,807,844	12,588,664
Machinery and Equipment
Cost	84,180,577
Less accumulated depreciation	(42,700,456)
Total property and equipment, net	41,480,121	38,513,796
Railroad Cars
Cost	1,238,508
Less accumulated depreciation	(30,963)
Total property and equipment, net	1,207,545	1,232,315
Vehicles
Cost	146,754
Less accumulated depreciation	(110,722)
Total property and equipment, net	36,032	16,307
Furniture and Fixtures
Cost	1,363,744
Less accumulated depreciation	(904,591)
Total property and equipment, net	459,153	543,801
Construction In Progress
Cost	6,465,095
Less accumulated depreciation	0
Total property and equipment, net	$ 6,465,095	$ 4,100,622

Property and Equipment (Detai_2

Property and Equipment (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Depreciation	$ 4,487,460	$ 4,155,061	$ 3,621,564

Notes Payable - Seasonal Loan (

Notes Payable - Seasonal Loan (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Line Of Credit Facility, Expiration Date	Feb. 1, 2020
Line of credit facility, maximum borrowing capacity	$ 20,000,000
Line Of Credit Facility, Interest Rate At Period End	3.99%
Long-term line of credit	$ 16,000,000	$ 0
Line Of Credit Facility, Remaining Borrowing Capacity	18,300,000
Advances On Revolving Credit Facility
Debt Instrument [Line Items]
Long-term line of credit	$ 1,743,029	$ 0
Seasonal Loan [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Commitment Fee Percentage	0.20%

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Revolving term loan from CoBank, interest at variable rates (4.21% and 4.55% at December 31, 2012 and 2011, respectively), secured by substantially all property and equipment. Loan matures March 20, 2018.	$ 16,000,000	$ 0
Notes Payable	603,342	665,222
Long-term Debt, Gross	16,603,342	665,222
Current maturities of long-term debt	(4,603,342)	(61,964)
Deferred Finance Costs, Own-share Lending Arrangement, Issuance Costs, Net	(8,077)	(10,231)
Totals	$ 11,991,923	$ 593,027

Long-Term Debt (Details 1)

Long-Term Debt (Details 1)	Dec. 31, 2019USD ($)
For the years ending December 31:
2018	$ 4,603,342
2019	4,000,000
2020	4,000,000
2021	4,000,000
Long-term Debt	$ 16,603,342

Long-Term Debt (Details Textual

Long-Term Debt (Details Textual) - USD ($)	Mar. 20, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Long-term line of credit		$ 16,000,000	$ 0
Line Of Credit Facility, Interest Rate At Period End		3.99%
Line of Credit Facility, Periodic Payment, Principal		$ 2,000,000
Payments of Debt Issuance Costs	$ 14,000	0	10,500	$ 14,000
Line of credit facility, fair value of amount outstanding		0
Notes Payable		603,342	$ 665,222
Revolving Term Loan
Long-term line of credit		$ 24,000,000
Line Of Credit Facility, Interest Rate At Period End		4.24%	4.96%
Line of Credit Facility, Commitment Fee Percentage		0.40%
Debt Instrument, Maturity Date		Sep. 20, 2023
Notes Payable, Other Payables [Member]
Debt Instrument, Periodic Payment, Interest		$ 75,500
Debt Instrument, Interest Rate, Stated Percentage		2.00%
Notes Payable		$ 964,070

Operating Leases Additional Inf

Operating Leases Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Lessee, Lease, Description [Line Items]
Operating lease expense	$ 3,086,823	$ 3,132,935	$ 3,310,326
Operating lease, required monthly payments	$ 3,912
Railcars | Minimum
Lessee, Lease, Description [Line Items]
Operating lease term	3 years
Railcars | Maximum
Lessee, Lease, Description [Line Items]
Operating lease term	18 years
Machinery and equipment
Lessee, Lease, Description [Line Items]
Operating lease expense	$ 56,322	$ 58,954	$ 46,771
Machinery and equipment | Minimum
Lessee, Lease, Description [Line Items]
Operating lease term	3 years
Machinery and equipment | Maximum
Lessee, Lease, Description [Line Items]
Operating lease term	7 years

Operating Leases Schedule of Op

Operating Leases Schedule of Operating Leases (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)railcar
Lessee, Lease, Description [Line Items]
Quantity of Railcars | railcar	525
Monthly Payment | $	$ 255,398
American Railcar Leasing, Maturity Date Jun 30, 2021
Lessee, Lease, Description [Line Items]
Quantity of Railcars | railcar	30
Monthly Payment | $	$ 30,780
Andersons Railcar Leasing Co. Maturity Date Jun 30, 2023
Lessee, Lease, Description [Line Items]
Quantity of Railcars | railcar	10
Monthly Payment | $	$ 5,000
Andersons Railcar Leasing Co. Maturity Date Jun 30, 2026
Lessee, Lease, Description [Line Items]
Quantity of Railcars | railcar	20
Monthly Payment | $	$ 11,300
GATX Corporation, Maturity Date Jun 30, 2020
Lessee, Lease, Description [Line Items]
Quantity of Railcars | railcar	15
Monthly Payment | $	$ 4,500
Midwest Railcar Corporation, Maturity Date Dec 31, 2021
Lessee, Lease, Description [Line Items]
Quantity of Railcars | railcar	64
Monthly Payment | $	$ 27,200
Trinity Capital, Maturity Date July 31, 2020
Lessee, Lease, Description [Line Items]
Quantity of Railcars | railcar	88
Monthly Payment | $	$ 33,704
Trinity Capital, Maturity Date Nov 30, 2020
Lessee, Lease, Description [Line Items]
Quantity of Railcars | railcar	29
Monthly Payment | $	$ 28,536
Trinity Capital, Maturity Date Sep 30, 2020
Lessee, Lease, Description [Line Items]
Quantity of Railcars | railcar	20
Monthly Payment | $	$ 13,600
Wells Fargo Rail, Maturity Date July 31, 2022
Lessee, Lease, Description [Line Items]
Quantity of Railcars | railcar	112
Monthly Payment | $	$ 52,557
Wells Fargo Rail, Maturity Date Dec 31, 2022
Lessee, Lease, Description [Line Items]
Quantity of Railcars | railcar	107
Monthly Payment | $	$ 35,845
Wells Fargo Rail, Maturity Date Dec, 31, 2011 With Monthly Payment $2926
Lessee, Lease, Description [Line Items]
Quantity of Railcars | railcar	7
Monthly Payment | $	$ 2,926
Wells Fargo Rail, Maturity Date Dec 31, 2021 With Monthly Payment $5850
Lessee, Lease, Description [Line Items]
Quantity of Railcars | railcar	15
Monthly Payment | $	$ 5,850
Wells Fargo Rail, Maturity Date Dec 31, 2021 With Monthly Payment $3600
Lessee, Lease, Description [Line Items]
Quantity of Railcars | railcar	8
Monthly Payment | $	$ 3,600

Operating Leases - Components o

Operating Leases - Components of Operating Lease Costs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Lessee, Lease, Description [Line Items]
Operating lease costs	$ 3,143,145	$ 3,191,889	$ 3,357,097
Cost of revenues - Freight and rail
Lessee, Lease, Description [Line Items]
Operating lease costs	3,086,823	3,132,935	3,310,326
Cost of revenues - Production
Lessee, Lease, Description [Line Items]
Operating lease costs	43,783	47,496	37,756
Administration expenses
Lessee, Lease, Description [Line Items]
Operating lease costs	$ 12,539	$ 11,458	$ 9,015

Operating Leases - Supplemental

Operating Leases - Supplemental Cash Flow and Weighted-Average Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	2 years 10 months 24 days
Operating Lease, Payments	$ 3,019,990	$ 2,930,721	$ 2,047,875
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 809,916	$ 457,856	$ 2,141,091
Operating Lease, Weighted Average Discount Rate, Percent	3.80%

Operating Leases - Maturity Ana

Operating Leases - Maturity Analysis of Undiscounted Cash Flows of Operating Lease Liabilities (Details)	Dec. 31, 2019USD ($)
Lessee, Lease, Description [Line Items]
Twelve-month periods ended December 31, 2020	$ 2,791,000
Twelve-month periods ended December 31, 2021	1,956,228
Twelve-month periods ended December 31, 2022	1,086,408
Twelve-month periods ended December 31, 2023	198,357
Twelve-month periods ended December 31, 2024	156,105
Thereafter	203,400
Total lease payments	6,391,498
Less amount of lease payments representing interest	(411,727)
Total present value of lease payments	5,979,771
Railcars
Lessee, Lease, Description [Line Items]
Twelve-month periods ended December 31, 2020	2,747,364
Twelve-month periods ended December 31, 2021	1,916,017
Twelve-month periods ended December 31, 2022	1,046,197
Twelve-month periods ended December 31, 2023	165,600
Twelve-month periods ended December 31, 2024	135,600
Thereafter	203,400
Total lease payments	6,214,178
Less amount of lease payments representing interest	(393,513)
Total present value of lease payments	5,820,665
Other
Lessee, Lease, Description [Line Items]
Twelve-month periods ended December 31, 2020	43,636
Twelve-month periods ended December 31, 2021	40,211
Twelve-month periods ended December 31, 2022	40,211
Twelve-month periods ended December 31, 2023	32,757
Twelve-month periods ended December 31, 2024	20,505
Thereafter	0
Total lease payments	177,320
Less amount of lease payments representing interest	(18,214)
Total present value of lease payments	$ 159,106

Employee Benefit Plans (Details

Employee Benefit Plans (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Defined Contribution Plan, Cost	$ 186,000	$ 210,000	$ 163,000
Profit Sharing
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Deferred Compensation Arrangement with Individual, Percent of Profits Allocated	4.60%
Deferred Compensation Arrangement with Individual, Contributions by Employer	$ 2,000,000
Deferred Compensation Arrangement with Individual, Compensation Expense	$ 442,000	$ 1,161,000	$ 291,000

Commitments (Details Textual)

Commitments (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Monthly Payments For Operating Leases	$ 255,398

Cash Flow Information (Details)

Cash Flow Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
(Increase) decrease in assets:
Trade accounts receivable	$ (3,870,119)	$ (749,792)	$ 551,935
Inventories	(7,754,038)	1,250,073	(5,572,666)
Margin account deposit	(4,421,308)	2,026,900	(1,976,860)
Prepaid expenses	(392,579)	86,764	(122,285)
Total Increase (Decrease) in Operating Assets	(16,438,044)	2,613,945	(7,119,876)
Increase (decrease) in liabilities:
Accounts payable	2,579,559	392,646	475,956
Accrued commodity purchases	(4,037,857)	(2,258,421)	1,954,659
Accrued expenses and interest	(733,416)	1,362,624	(236,732)
Deferred liabilities	(343,926)	(1,469,278)	228,217
Total Increase (Decrease) in Operating Liabilities	(2,535,640)	(1,972,429)	2,422,100
Total	$ 18,973,684	$ (641,516)	$ 4,697,776

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Derivatives not designated as hedging instruments:
Asset Derivatives	$ 3,349,857	$ 3,825,798
Liability Derivatives	9,305,785	3,023,028
Commodity Contract
Derivatives not designated as hedging instruments:
Asset Derivatives	3,320,161	3,696,540
Liability Derivatives	8,930,683	2,722,830
Foreign Exchange Contract
Derivatives not designated as hedging instruments:
Asset Derivatives	29,696	129,258
Liability Derivatives	27,582	100,730
Interest Rate Swap
Derivatives not designated as hedging instruments:
Asset Derivatives	0	0
Liability Derivatives	$ 347,520	$ 199,468

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivatives not designated as hedging instruments:
Net Gain (Loss) Recognized on Derivative Activities	$ (4,150,476)	$ 8,670,176	$ 5,409,978
Commodity Contract
Derivatives not designated as hedging instruments:
Net Gain (Loss) Recognized on Derivative Activities	(4,057,389)	8,594,290	5,302,090
Foreign Exchange Contract
Derivatives not designated as hedging instruments:
Net Gain (Loss) Recognized on Derivative Activities	54,966	(29,269)	109,211
Interest Rate Swap
Derivatives not designated as hedging instruments:
Net Gain (Loss) Recognized on Derivative Activities	$ (148,053)	$ 105,155	$ (1,323)

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ (4,150,476)	$ 8,670,176	$ 5,409,978
Derivative Assets (Liabilities), At Fair Value, Net	$ (5,955,928)	$ 802,770

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Financial assets:
Inventory	$ 44,107,212	$ 36,312,241
Margin deposits	6,772,160	2,350,852
Fair Value, Inputs, Level 1
Financial assets:
Inventory	(5,610,521)	973,710
Margin deposits	6,772,160	2,350,852
Fair Value, Inputs, Level 2
Financial assets:
Inventory	49,717,733	35,338,531
Margin deposits	0	0
Fair Value, Inputs, Level 3
Financial assets:
Inventory	0	0
Margin deposits	$ 0	$ 0

Business Credit Risk and Conc_3

Business Credit Risk and Concentrations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
United States
Segment Reporting Information, Revenue for Reportable Segment	$ 296,767,276	$ 306,474,381	$ 300,879,962
Canada
Segment Reporting Information, Revenue for Reportable Segment	74,508,490	85,290,302	74,879,375
United states and Canada
Segment Reporting Information, Revenue for Reportable Segment	$ 371,275,766	$ 391,764,683	$ 375,759,337

Business Credit Risk and Conc_4

Business Credit Risk and Concentrations (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Receivables, Net, Current	$ 24,417,969	$ 20,521,900
Soybean Meal
Sales Revenue, Goods, Net, Percentage	63.00%	64.00%	59.00%
Soybean Oil
Sales Revenue, Goods, Net, Percentage	33.00%	33.00%	38.00%

Members' Equity (Details Textua

Members' Equity (Details Textual) $ / shares in Units, $ in Millions	Feb. 06, 2018USD ($)$ / shares	Dec. 31, 2019$ / Unitsshares
Equity [Abstract]
Minimum Capital Units | shares		2,500
Redemption Of Members Equity Per Unit | $ / Units		0.20
Net Income Distribution To Members Description		if a member becomes a holder of less than 2,500 units, or if a member becomes an owner (directly or indirectly) of more than 10% of the issued and outstanding capital units.
Distribution to members | $	$ 15.2
Distribution to members, in dollars per share | $ / shares	$ 0.500

Contingencies - Narrative (Deta

Contingencies - Narrative (Details) $ in Thousands	Dec. 31, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Unpaid Commitments For Construction and Acquisition Of Property and Equipment	$ 76

Subsequent Events (Details Text

Subsequent Events (Details Textual) - USD ($)	Feb. 07, 2020	Jan. 27, 2020	Jan. 21, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 26, 2020
Distributions to members				$ 15,209,500	$ 5,075,303	$ 9,444,789
Investments in related parties				7,873,727	$ 8,009,315
Line of credit facility, maximum borrowing capacity				$ 20,000,000
Subsequent Event
Distributions to members			$ 6,700,000
Distribution date	Feb. 7, 2020
Subsequent Event | CoBank Seasonal Loan
Line of credit facility, maximum borrowing capacity		$ 28,000,000					$ 20,000,000
Revolving Term Loan | Subsequent Event
Line of credit facility, maximum borrowing capacity		26,000,000					$ 16,000,000
Line Of Credit Facility, Maximum Borrowing Capacity Decrease Every Six Months		$ 2,000,000

Equity Investment in Affiliat_2

Equity Investment in Affiliate (Details)	Apr. 03, 2018USD ($)agreement	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2018	Feb. 20, 2018USD ($)
Schedule of Equity Method Investments [Line Items]
Loss on equity method investment		$ 135,588	$ 61,198	$ 411,050
Equity Method Investments		$ 7,873,727	8,009,315
Prairie AquaTech, LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		8.90%				10.90%
Additional ownership proportion acquired in equity method investment (as a percent)					3.30%
Loss on equity method investment		$ 135,588	61,198	411,050
Equity Method Investments						$ 5,000,000
Prairie AquaTech, LLC
Schedule of Equity Method Investments [Line Items]
Face amount of debt			2,000,000
Interest income on convertible debt		$ 161,563
Converted instrument, shares issued (in shares) | shares		142,489
Number of agreements | agreement	2
Revenue from related parties	$ 1,720,000	$ 1,582,064	$ 314,420	$ 138,442
Revenue from related parties received in cash	400,000
Revenue from related parties received in preferred equity units	$ 1,320,000
Proportion of equity units received relative to total issued and outstanding equity securities (as a percent)	4.10%

Related Party Transactions (Det

Related Party Transactions (Details)	May 15, 2018USD ($)a	Apr. 03, 2018USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Prairie AquaTech, LLC
Related Party Transaction [Line Items]
Revenue from related parties		$ 1,720,000	$ 1,582,064	$ 314,420	$ 138,442
Due from related parties			104,947	18,540
Prairie Aqua Tech Manufacturing, LLC [Member]
Related Party Transaction [Line Items]
Due from Related Parties, Cumulative, Current			1,720,000
Due from Related Parties, Current			101,111	777,342
Volga, South Dakota | Prairie AquaTech, LLC
Related Party Transaction [Line Items]
Area of land (acres) | a	8
Proceeds from sale of real estate	$ 300,000
Management Service [Member] | Prairie Aqua Tech Manufacturing, LLC [Member]
Related Party Transaction [Line Items]
Revenue from related parties			$ 758,931	$ 942,658