Cardinal Ethanol (CRDE) 10-Q 4 Aug 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Jun. 30, 2021	Aug. 04, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	000-53036
Entity Registrant Name	CARDINAL ETHANOL, LLC
Entity Incorporation, State or Country Code	IN
Entity Tax Identification Number	20-2327916
Entity Address, Address Line One	1554 N. County Road 600 E.
Entity Address, City or Town	Union City
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	47390
City Area Code	765
Local Phone Number	964-3137
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		14,606
Entity Central Index Key	0001352081
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Current Assets
Cash	$ 7,695,998	$ 12,950,558
Restricted cash	11,535,807	3,963,424
Trade accounts receivable	19,275,222	9,174,937
Miscellaneous receivables	720,359	813,060
Inventories	23,427,872	17,318,700
Prepaid and other current assets	471,865	186,761
Total current assets	66,010,590	45,522,739
Property, Plant, and Equipment, Net	72,062,475	78,003,177
Other Assets
Operating lease right of use asset, net	3,129,075	4,951,592
Investment	1,259,770	1,259,770
Total other assets	4,388,845	6,211,362
Total Assets	142,461,910	129,737,278
Current Liabilities
Contract liability	0	15,000
Accounts payable	3,629,950	4,154,598
Accounts payable - grain	6,854,281	5,673,785
Accrued expenses	1,368,557	1,407,746
Operating lease liability current	2,296,351	2,638,003
Current maturities of long-term debt	0	275,840
Total current liabilities	22,800,034	16,442,809
Long-Term Liabilities
Long-term debt, net of current maturities	1,222,417	580,825
Operating lease long-term liabilities	833,312	2,313,694
Liability for railcar rehabilitation costs	1,676,160	1,452,600
Total long-term liabilities	3,731,889	4,347,119
Commitments and Contingencies	0	0
Members’ Equity
Members' contributions, net of cost of raising capital, 14,606 units authorized, issued and outstanding	70,912,213	70,912,213
Retained earnings	45,017,774	38,035,137
Total members' equity	115,929,987	108,947,350
Total Liabilities and Members’ Equity	142,461,910	129,737,278
Futures & options derivatives
Current Assets
Forward purchase/sales derivatives	144,594	0
Current Liabilities
Derivatives	8,577,179	2,051,928
Forward purchase/sales derivatives
Current Assets
Forward purchase/sales derivatives	2,738,873	1,115,299
Current Liabilities
Derivatives	$ 73,716	$ 225,909

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - shares	Jun. 30, 2021	Sep. 30, 2020
Statement of Financial Position [Abstract]
Capital units, authorized (in shares)	14,606	14,606
Capital units, issued (in shares)	14,606	14,606
Capital units, outstanding (in shares)	14,606	14,606

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenues	$ 117,272,974	$ 51,252,061	$ 308,424,904	$ 182,267,602
Cost of Goods Sold	107,665,033	49,594,125	289,525,280	181,843,166
Gross Profit	9,607,941	1,657,936	18,899,624	424,436
Operating Expenses	1,758,914	1,590,121	5,408,684	5,211,222
Operating Income (Loss)	7,849,027	67,815	13,490,940	(4,786,786)
Other Income (Expense)
Interest expense	(61,884)	(36,797)	(137,959)	(170,789)
Miscellaneous income	(41,393)	4,078	202,356	431,249
Total	(103,277)	(32,719)	64,397	260,460
Net Income (Loss)	$ 7,745,750	$ 35,096	$ 13,555,337	$ (4,526,326)
Weight Average Units Outstanding - basic (in shares)	14,606	14,606	14,606	14,606
Weight Average Units Outstanding - diluted (in shares)	14,606	14,606	14,606	14,606
Net Income (Loss) Per Unit - basic (in dollars per shares)	$ 530	$ 2	$ 928	$ (310)
Net Income (Loss) Per Unit - diluted (in dollars per shares)	530	2	928	(310)
Distributions Per Unit (in dollars per shares)	$ 200	$ 0	$ 450	$ 150

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash Flows from Operating Activities
Net income (loss)	$ 13,555,337	$ (4,526,326)
Adjustments to reconcile net income (loss) to net cash used in operations:
Depreciation and amortization	8,436,814	8,405,952
Change in fair value of commodity derivative instruments	4,604,890	879,251
Loss on sale of equipment	906,785	0
Forgiveness of Paycheck Protection Program loan	(856,665)	0
Trade accounts receivable	(10,100,285)	(528,801)
Miscellaneous receivables	92,701	913,912
Inventories	(6,109,172)	(5,854,518)
Prepaid and other current assets	(285,104)	(395,679)
Contract liability	(15,000)	0
Accounts payable	(287,924)	1,649,227
Accounts payable - grain	1,180,496	(4,115,645)
Accrued expenses	(194,925)	869,822
Liability for railcar rehabilitation costs	223,560	223,560
Due to broker	0	(1,589,324)
Net cash provided by (used for) operating activities	11,151,508	(4,068,569)
Cash Flows from Investing Activities
Capital expenditures	0	(14,372)
Payments for construction in progress	(3,483,402)	(2,145,782)
Net cash used for investing activities	(3,483,402)	(2,160,154)
Cash Flows from Financing Activities
Distributions paid	(6,572,700)	(2,190,900)
Proceeds from revolving credit loan	106,024,134	0
Payments on revolving credit loan	(106,024,134)	0
Proceeds from long-term debt	1,222,417	856,665
Payments on long-term debt	0	(1,513,288)
Net cash used for financing activities	(5,350,283)	(2,847,523)
Net Increase (Decrease) in Cash and Restricted Cash	2,317,823	(9,076,246)
Cash and Restricted Cash – Beginning of Period	16,913,982	22,034,120
Cash and Restricted Cash – End of Period	19,231,805	12,957,874
Reconciliation of Cash and Restricted Cash
Cash - Balance Sheet	7,695,998	7,859,170
Restricted Cash - Balance Sheet	11,535,807	5,098,704
Cash and Restricted Cash	19,231,805	12,957,874
Supplemental Cash Flow Information
Interest paid	126,365	221,507
Supplemental Disclosure of Non-cash Investing and Financing Activities
Construction in process included in accrued expenses and accounts payable	$ 220,736	$ 35,996

Condensed Statements of Changes

Condensed Statements of Changes in Members' Equity (Unaudited) - USD ($)	Total	Member Contributions	Retained Earnings
Beginning balance at Sep. 30, 2019		$ 70,912,213	$ 41,366,470
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)		0	1,638,760
Ending balance at Dec. 31, 2019		70,912,213	43,005,230
Beginning balance at Sep. 30, 2019		70,912,213	41,366,470
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	$ (4,526,326)
Ending balance at Jun. 30, 2020		70,912,213	34,649,244
Beginning balance at Dec. 31, 2019		70,912,213	43,005,230
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)		0	(6,200,182)
Member Distributions		0	(2,190,900)
Ending balance at Mar. 31, 2020		70,912,213	34,614,148
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	35,096	0	35,096
Ending balance at Jun. 30, 2020		70,912,213	34,649,244
Beginning balance at Sep. 30, 2020	108,947,350	70,912,213	38,035,137
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)		0	(1,055,854)
Member Distributions		0	(1,460,600)
Ending balance at Dec. 31, 2020		70,912,213	35,518,683
Beginning balance at Sep. 30, 2020	108,947,350	70,912,213	38,035,137
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	13,555,337
Ending balance at Jun. 30, 2021	115,929,987	70,912,213	45,017,774
Beginning balance at Dec. 31, 2020		70,912,213	35,518,683
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)		0	6,865,441
Member Distributions		0	(2,190,900)
Ending balance at Mar. 31, 2021		70,912,213	40,193,224
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	7,745,750	0
Member Distributions		0	(2,921,200)
Ending balance at Jun. 30, 2021	$ 115,929,987	$ 70,912,213	$ 45,017,774

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying unaudited condensed financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted as permitted by such rules and regulations. These financial statements and related notes should be read in conjunction with the financial statements and notes thereto included in the Company's audited financial statements for the year ended September 30, 2020, contained in the Company's annual report on Form 10-K. In the opinion of management, the interim condensed financial statements reflect all adjustments considered necessary for fair presentation. Nature of Business Cardinal Ethanol, LLC, (the “Company”) is an Indiana limited liability company currently producing fuel-grade ethanol, distillers grains, corn oil and carbon dioxide near Union City, Indiana and sells these products throughout the continental United States. During the nine months ended June 30, 2021 and 2020, the Company produced approximately 100,050,000 and 96,403,000 gallons of ethanol, respectively. In addition, the Company procures, transports, and sells grain commodities through grain operations (the "Trading Division"). Reportable Segments Accounting Standards Codification (“ASC”) 280, “Segment Reporting,” establishes the standards for reporting information about segments in financial statements. Operating segments are defined as components of an enterprise for which separate financial information is available that are evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. Based on the related business nature and expected financial results criteria set forth in ASC 280, the Company has two reportable operating segments for financial reporting purposes. • Ethanol Division. Based on the nature of the products and production process and the expected financial results, the Company’s operations at its ethanol plant, including the production and sale of ethanol and its co-products, are aggregated into one financial reporting segment. • Trading Division. The Company has a grain loading facility within the Company's single site to buy, hold and sell inventories of agricultural grains, primarily soybeans. The Company performs no additional processing of these grains, unlike the corn inventory the Company holds and uses in ethanol production. The activities of buying, selling and holding of grains other than for ethanol and co-product production comprise this financial reporting segment. Accounting Estimates Management uses estimates and assumptions in preparing these financial statements in accordance with generally accepted accounting principles. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. The Ethanol Division uses estimates and assumptions in accounting for the following significant matters, among others; the useful lives of fixed assets, inventory, the assumptions used in the analysis of the impairment of long lived assets, railcar rehabilitation costs, and inventory purchase commitments. The Trading Division uses estimates and assumptions in accounting for the following significant matters, among others; the useful lives of fixed assets, the valuation of inventory purchase and sale commitments derivatives and inventory at market. Actual results may differ from previously estimated amounts, and such differences may be material to the financial statements. The Company periodically reviews estimates and assumptions, and the effects of revisions are reflected in the period in which the revision is made. Actual results could differ materially from those estimates. Cash The Company maintains its accounts primarily at two financial institutions. At times throughout the year the Company's cash balances may exceed amounts insured by the Federal Deposit Insurance Corporation. Restricted Cash As a part of its commodities hedging activities, the Company is required to maintain cash balances with our commodities trading companies for initial and maintenance margins on a per futures contract basis. Changes in the market value of contracts may increase these requirements. As the futures contracts expire, the margin requirements also expire. Accordingly, the Company records the cash maintained with the traders in the margin accounts as restricted cash. Since this cash is immediately available to us upon request when there is a margin excess, the Company considers this restricted cash to be a current asset. Trade Accounts Receivable Credit terms are extended to customers in the normal course of business. The Company performs ongoing credit evaluations of its customers' financial condition and, generally, requires no collateral. Accounts receivable are recorded at their estimated net realizable value. Accounts are considered past due if payment is not made on a timely basis in accordance with the Company's credit terms. Amounts 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. At June 30, 2021 and September 30, 2020, the Company determined that an allowance for doubtful accounts was not necessary. Inventories Ethanol Division (see Reportable Segments) inventories consist of raw materials, work in process, finished goods and spare parts. Corn is the primary raw material. Finished goods consist of ethanol, dried distiller grains and corn oil. Inventories are stated at the lower of weighted average cost or net realizable value. Net realizable value is the estimated selling prices in the normal course of business, less reasonably predictable selling costs. Trading Division (see Reportable Segments) inventories consist of grain. Soybeans were the only grains held and traded at June 30, 2021 and September 30, 2020. These inventories are stated at market value less estimated selling costs, which may include reductions for quality. Property, Plant and Equipment Property, plant, and equipment are stated at cost. Depreciation is provided over estimated useful lives by use of the straight line depreciation method. Maintenance and repairs are expensed as incurred; major improvements and betterments are capitalized. Construction in progress expenditures will be depreciated using the straight-line method over their estimated useful lives once the assets are placed into service. The Company has various capital projects scheduled for the 2021 fiscal year in order to make certain improvements to the ethanol plant and maintain the facility. These improvements include updates to the heat exchangers, boilers, grain probe, and other small miscellaneous projects as well as the purchase of a new payloader for the dried distillers grains loadout system. The Company also invested in an ethanol recovery system which is expected to cost approximately $2,400,000 and be funded with funds from operations and existing debt facilities. The Company was nearing completion of the project during the third quarter subject to final testing which is anticipated to be finished during the late summer of 2021. Long-Lived Assets The Company reviews its long-lived assets, such as property, plant and equipment and financing costs, subject to depreciation and amortization, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by an asset to the carrying value of the asset. If the carrying value of the long-lived asset is not recoverable on an undiscounted cash flow basis, impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. Management evaluated and determined no impairment write-downs were considered necessary for the three and nine months ended June 30, 2021 and 2020. Investment Investments consist of the capital stock and patron equities of the Company's distillers grains marketer. The investments are stated at the lower of cost or fair value and adjusted for non cash patronage equities and cash equity redemptions received. Non cash patronage dividends are recognized when received and included within revenue in the condensed statements of operations. Revenue Recognition Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. The Company's contracts primarily consist of agreements with marketing companies and other customers as described below. The Company's performance obligations consist of the delivery of ethanol, distillers' grains, corn oil, soybeans and carbon dioxide to our customers. The consideration the Company receives for these products is fixed based on current observable market prices at the Chicago Mercantile Exchange, generally, and adjusted for local market differentials. The Company's contracts have specific delivery modes, rail or truck, and dates. Revenue is recognized when the Company delivers the products to the mode of transportation specified in the contract, at the transaction price established in the contract, net of commissions, fees, and freight. The Company sells each of the products via different marketing channels as described below. • Ethanol. The Company sells its ethanol via a marketing agreement with Murex, LLC. Murex sells one hundred percent of the Company's ethanol production based on agreements with end users at prices agreed upon mutually among the end user, Murex and the Company. Murex then provides a schedule of deliveries required and an order for each rail car or tankers needed to fulfill their commitment with the end user. These are individual performance obligations of the Company. The marketing agreement calls for control and title to pass when the delivery vehicle is filled. Revenue is recognized then at the price in the agreement with the end user, net of commissions, rail car lease, freight, and insurance. • Distillers grains. The Company engages another third-party marketing company, CHS, Inc, to sell one hundred percent of the distillers grains it produces at the plant. The process for selling the distillers grains is like that of ethanol, except that CHS takes title and control once a rail car is released to the railroad or a truck is released from the Company's scales. Prices are agreed upon among the three parties and CHS provides schedules and orders representing performance obligations. Revenue is recognized net of commissions, freight and fees. • Distillers corn oil (corn oil). The Company sells its production of corn oil directly to commercial customers. The customer is provided with a delivery schedule and pick up orders representing performance obligations are fulfilled when the customer’s driver picks up the scheduled load. The price is agreed upon at the time each contract is made, and the Company recognizes revenue at the time of delivery at that price. • Carbon dioxide. The Company sells a portion of the carbon dioxide it produces to a customer that maintains a plant on-site for a set price per ton. Delivery is defined as transference of the gas from the Company's stream to their plant. • Soybeans and other grains. The Company sells soybeans exclusively to commercial mills, processors or grain traders. Contracts are negotiated directly with the parties at prices based on negotiated prices. Cost of Goods Sold Cost of goods sold include corn, trading division grains, natural gas and other components which includes processing ingredients, electricity, railcar maintenance, depreciation of ethanol production fixed assets and wages, salaries of benefits of production personnel. Operating Expense Operating expenses include wages, salaries and benefits of administrative employees at the plant, insurance, professional fees, depreciation of trading division fixed assets, property taxes and similar costs. Derivative Instruments From time to time the Company enters into derivative transactions to hedge its exposures to commodity price fluctuations. The Company is required to record these derivatives in the balance sheet at fair value. In order for a derivative to qualify as a hedge, specific criteria must be met and appropriate documentation maintained. Gains and losses from derivatives that do not qualify as hedges, or are undesignated, must be recognized immediately in earnings. If the derivative does qualify as a hedge, depending on the nature of the hedge, changes in the fair value of the derivative will be either offset against the change in fair value of the hedged assets, liabilities, or firm commitments through earnings or recognized in other comprehensive income until the hedged item is recognized in earnings. Changes in the fair value of undesignated derivatives are recorded in the statement of operations, depending on the item being hedged. Additionally, the Company is required to evaluate its contracts to determine whether the contracts are derivatives. Certain contracts that literally meet the definition of a derivative may be exempted as “normal purchases or normal sales”. Normal purchases and normal sales are contracts that provide for the purchase or sale of something other than a financial instrument or derivative instrument that will be delivered in quantities expected to be used or sold over a reasonable period in the normal course of business. Contracts that meet the requirements of normal purchases or sales are documented as normal and exempted from accounting and reporting requirements, and therefore, are not marked to market in our financial statements. The Company has elected for its Ethanol Division to apply the normal purchase normal sale exemption to all forward commodity contracts. For the Trading Division, the Company has elected not to apply the normal purchase normal sale exemption to its forward purchase and sales contracts and therefore, marks these derivative instruments to market. Net Income (Loss) per Unit Basic net income (loss) per unit is computed by dividing net income (loss) by the weighted average number of members' units outstanding during the period. Diluted net income (loss) per unit is computed by dividing net income (loss) by the weighted average number of members' units and members' unit equivalents outstanding during the period. There were no member unit equivalents outstanding during the periods presented; accordingly, the Company's basic and diluted net income (loss) per unit are the same.

REVENUE

REVENUE	9 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Revenue by Source All revenues from contracts with customers under ASC Topic 606 are recognized at a point in time. The following tables disaggregate revenue by major source for the three and nine months ended June 30, 2021 and 2020: Three Months Ended June 30, 2021 (Unaudited) Ethanol Division Trading Division Total Revenues from contracts with customers under ASC Topic 606 Ethanol $ 79,943,407 $ — $ 79,943,407 Distillers' grains 14,701,286 — 14,701,286 Corn Oil 4,977,755 — 4,977,755 Carbon Dioxide 121,288 — 121,288 Other Revenue 14,650 14,875 29,525 Total revenues from contracts with customers 99,758,386 14,875 99,773,261 Revenues from contracts accounted for as derivatives under ASC Topic 815 (1) Soybeans and other grains — 17,499,713 17,499,713 Total revenues from contracts accounted for as derivatives — 17,499,713 17,499,713 Total Revenues $ 99,758,386 $ 17,514,588 $ 117,272,974 Nine Months Ended June 30, 2021 (Unaudited) Ethanol Division Trading Division Total Revenues from contracts with customers under ASC Topic 606 Ethanol $ 182,551,687 $ — $ 182,551,687 Distillers' grains 43,552,750 — 43,552,750 Corn Oil 12,030,379 — 12,030,379 Carbon Dioxide 368,038 — 368,038 Other Revenue 41,425 119,850 161,275 Total revenues from contracts with customers 238,544,279 119,850 238,664,129 Revenues from contracts accounted for as derivatives under ASC Topic 815 (1) Soybeans and other grains — 69,760,775 69,760,775 Total revenues from contracts accounted for as derivatives — 69,760,775 69,760,775 Total Revenues $ 238,544,279 $ 69,880,625 $ 308,424,904 Three Months Ended June 30, 2020 (Unaudited) Ethanol Division Trading Division Total Revenues from contracts with customers under ASC Topic 606 Ethanol $ 31,322,704 $ — $ 31,322,704 Distillers' grains 9,770,811 — 9,770,811 Corn Oil 2,225,717 — 2,225,717 Carbon Dioxide 123,375 — 123,375 Other 1,795,251 22,625 1,817,876 Total revenues from contracts with customers 45,237,858 22,625 45,260,483 Revenues from contracts accounted for as derivatives under ASC Topic 815 (1) Soybeans and other grains — 5,991,578 5,991,578 Total revenues from contracts accounted for as derivatives — 5,991,578 5,991,578 Total Revenues $ 45,237,858 $ 6,014,203 $ 51,252,061 Nine Months Ended June 30, 2020 (Unaudited) Ethanol Division Trading Division Total Revenues from contracts with customers under ASC Topic 606 Ethanol $ 116,998,260 $ — $ 116,998,260 Distillers' grains 31,952,429 — 31,952,429 Corn Oil 7,233,285 — 7,233,285 Carbon Dioxide 370,125 — 370,125 Other 2,038,327 76,075 2,114,402 Total revenues from contracts with customers 158,592,426 76,075 158,668,501 Revenues from contracts accounted for as derivatives under ASC Topic 815 (1) Soybeans and other grains — 23,599,101 23,599,101 Total revenues from contracts accounted for as derivatives — 23,599,101 23,599,101 Total Revenues $ 158,592,426 $ 23,675,176 $ 182,267,602 (1) Revenues from contracts accounted for as derivatives represent physically settled derivative sales that are outside the scope of ASC Topic 606, Revenue from Contracts with Customers (ASC Topic 606), where the company recognizes revenue when control of the inventory is transferred within the meaning of ASC Topic 606 as required by ASC Topic 610-20, Gains and Losses from the Derecognition of Nonfinancial Assets. Payment Terms The Company has contractual payment terms with each respective marketer that sells ethanol and distillers grains. These terms are generally 10 - 20 days after the week of the transfer of control. The Company has standard payment terms of net 10 days for its sale for corn oil. The Company has standard payments terms due upon delivery for its sale of soybeans. The contractual terms with the carbon dioxide customer calls for an annual settlement. Shipping and Handling Costs 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 goods sold. Accordingly, amounts billed to customers for such costs are included as a component of revenue. Contract Liabilities

CONCENTRATIONS

CONCENTRATIONS	9 Months Ended
	Jun. 30, 2021
Risks and Uncertainties [Abstract]
CONCENTRATIONS	CONCENTRATIONSTwo major customers accounted for approximately 90% and 91% of the outstanding accounts receivable balance at June 30, 2021 and September 30, 2020, respectively. These same two customers accounted for approximately 73% of revenue for the nine months ended June 30, 2021 and 80% of revenue for the nine months ended June 30, 2020.UNCERTAINTIES IMPACTING THE ETHANOL INDUSTRY AND OUR FUTURE OPERATIONS The Company has certain risks and uncertainties that it experiences during volatile market conditions, which can have a severe impact on operations. The Company's revenues are primarily derived from the sale and distribution of ethanol, distillers grains and corn oil to customers primarily located in the U.S. Corn for the production process is supplied to the plant primarily from local agricultural producers and from purchases on the open market. During the nine months ended June 30, 2021 ethanol sales average approximately 59% of total revenues and corn costs average 65% of total cost of goods sold. The Company's operating and financial performance is largely driven by prices at which the Company sells ethanol, distillers grains and corn oil, and the related cost of corn. The price of ethanol is influenced by factors such as supply and demand, weather, government policies and programs, and the unleaded gasoline and petroleum markets, although, since 2005, the prices of ethanol and gasoline began a divergence with ethanol selling for less than gasoline at the wholesale level. Excess ethanol supply in the market, in particular, puts downward pressure on the price of ethanol. The Company's largest cost of production is corn. The cost of corn is generally impacted by factors such as supply and demand, weather, government policies and programs. The Company's risk management program is used to protect against the price volatility of these commodities. The Company, and the ethanol industry as a whole, experienced adverse conditions throughout 2020 and 2021, as a result of industry-wide record low ethanol prices due to reduced demand and high industry inventory levels. These factors, which are compounded by the recent impact of COVID-19, resulted in negative operating margins, lower cash flow from operations and net operating losses. In response to the low margin environment, the Company reduced its ethanol production rate by approximately 20% in March 2020. As margins improved in May of 2020, the Company began increasing its ethanol

INVENTORIES

INVENTORIES	9 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consist of the following as of: June 30, 2021 (Unaudited) September 30, 2020 Ethanol Division: Raw materials $ 13,156,118 $ 2,465,782 Work in progress 2,763,273 1,508,084 Finished goods 2,010,227 3,833,939 Spare parts 3,706,859 3,523,781 Ethanol Division Subtotal $ 21,636,477 $ 11,331,586 Trading Division: Grain inventory $ 1,791,395 $ 5,987,114 Trading Division Subtotal 1,791,395 5,987,114 Total Inventories $ 23,427,872 $ 17,318,700 The Company had a net realizable value write-down of ethanol inventory of approximately $57,000 and $72,000 for the three months ended June 30, 2021, and 2020, respectively and $129,000 and $1,697,000 for the nine months ended June 30, 2021 and 2020, respectively. In the ordinary course of business, the Company enters into forward purchase contracts for its commodity purchases and sales. Certain contracts for the ethanol division that literally meet the definition of a derivative may be exempted from derivative accounting as normal purchases or normal sales. At June 30, 2021, the Company had forward corn purchase contracts at various fixed prices for various delivery periods through December 2023 for approximately 10% of expected production needs for the next 30 months. Approximately 13% of the forward corn purchases were with related parties. Given the uncertainty of future commodity prices, the Company could incur a loss on the outstanding purchase contracts in future periods. Management has evaluated these forward contracts using the lower of cost or net realizable value evaluation, and has determined that no impairment loss existed at June 30, 2021 and September 30, 2020. The Company has elected not to apply the normal purchase and sale exemption to its forward soybean contracts of the trading division and therefore, treats them as derivative instruments.

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	9 Months Ended
	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	DERIVATIVE INSTRUMENTS The Company enters into corn, ethanol, natural gas and soybean derivative instruments, which are required to be recorded as either assets or liabilities at fair value in the balance sheet. Derivatives qualify for treatment as hedges when there is a high correlation between the change in fair value of the derivative instrument and the related change in value of the underlying hedged item. The Company must designate the hedging instruments based upon the exposure being hedged as a fair value hedge, a cash flow hedge or a hedge against foreign currency exposure. Commodity Contracts The Company enters into commodity-based derivatives, for corn, ethanol, natural gas and soybeans in order to protect cash flows from fluctuations caused by volatility in commodity prices and to protect gross profit margins from potentially adverse effects of market and price volatility on commodity based purchase commitments where the prices are set at a future date. These derivatives are not designated as effective hedges for accounting purposes. For derivative instruments that are not accounted for as hedges, or for the ineffective portions of qualifying hedges, the change in fair value is recorded through earnings in the period of change. The changes in the fair market value of ethanol derivative instruments are included as a component of revenue. The changes in the fair market value of corn, natural gas, and soybean derivative instruments are included as a component of cost of goods sold. At June 30, 2021, the Ethanol Division had a net short (selling) position of 14,869,000 bushels of corn under derivative contracts used to hedge its forward corn purchase contracts, corn inventory and ethanol sales. These corn derivatives are traded on the Chicago Board of Trade as of June 30, 2021 and are forecasted to settle for various delivery periods through December 2022. The Ethanol Division had a net short (selling) position of 6,090,000 gallons of ethanol under derivative contracts used to hedge its future ethanol sales. These ethanol derivatives are traded on the New York Mercantile Exchange and are forecasted to settle for various delivery periods through December 2021. At June 30, 2021, the Trading Division also had a net short (selling) position of 1,473,000 bushels of soybeans under derivative contracts used to hedge its forward soybean contract purchases. These soybean derivatives are traded on the Chicago Board of Trade and are, as of June 30, 2021, forecasted to settle for various delivery periods through December 2023. At June 30, 2021, the Ethanol Division also had a net long (buying) position of 6,000,000 pounds of soybean oil under derivative contracts used to hedge its forward corn oil contract sales. These soybean oil derivatives are traded on the Chicago Board of Trade and are, as of June 30, 2021, forecasted to settle for various delivery periods through December 2021. These derivatives have not been designated as effective hedges for accounting purposes. The following table provides balance sheet details regarding the Company's derivative financial instruments at June 30, 2021: Instrument Balance Sheet Location Assets Liabilities Ethanol Futures and Options Contracts Futures & Options Derivatives $ — $ 43,638 Corn Futures and Options Contracts Futures & Options Derivatives $ — $ 6,654,449 Soybean Oil Derivative Contracts Futures & Options Derivatives $ 144,594 $ — Soybean Futures and Options Contracts Futures & Options Derivatives $ — $ 1,879,092 Soybean Forward Purchase and Sales Contracts Forward Purchase/Sales Derivatives $ 2,738,873 $ 73,716 As of June 30, 2021, the Company had approximately $11,536,000 cash collateral (restricted cash) related to ethanol, corn, and soybean derivatives held by four brokers. The following table provides balance sheet details regarding the Company's derivative financial instruments at September 30, 2020: Instrument Balance Sheet Location Assets Liabilities Ethanol Futures and Options Contracts Futures & Options Derivatives $ — $ 666,571 Corn Futures and Options Contracts Futures & Options Derivatives $ — $ 740,993 Soybean Futures and Options Contracts Futures & Options Derivatives $ — $ 644,364 Soybean Forward Purchase and Sales Contracts Forward Purchase/Sales Derivatives $ 1,115,299 $ 225,909 As of September 30, 2020, the Company had approximately $4,000,000 of cash collateral (restricted cash) related to ethanol, corn and soybean derivatives held by two brokers. The following table provides details regarding the gains and (losses) from the Company's derivative instruments in the statements of operations, none of which are designated as hedging instruments: Instrument Statement of Operations Location Three Months Ended June 30, 2020 Nine Months Ended June 30, 2020 Three Months Ended June 30, 2021 Nine Months Ended June 30, 2021 Corn Futures and Options Contracts Cost of Goods Sold $ 901,144 $ 3,299,787 $ (11,254,118) $ (23,361,960) Ethanol Futures and Options Contracts Revenues (1,189,256) (3,753,455) 493,042 647,795 Natural Gas Futures and Options Contracts Cost of Goods Sold — — — (836) Soybean Futures and Options Contracts Cost of Goods Sold 159,073 810,450 (2,625,108) (8,513,405) Soybean Forward Purchase and Sales Contracts Cost of Goods Sold 190,883 54,719 (166,197) 1,376,887 Totals $ 61,844 $ 411,501 $ (13,552,381) $ (29,851,519)

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The following table provides information on those assets and liabilities measured at fair value on a recurring basis as of June 30, 2021: Instruments Carrying Amount Fair Value Level 1 Level 2 Level 3 Corn Futures and Options Contracts $ 6,654,449 $ 6,654,449 $ 5,346,344 $ 1,308,105 $ — Ethanol Futures and Options Contracts $ 43,638 $ 43,638 $ 43,638 $ — $ — Soybean Oil Futures and Options Contracts $ 144,594 $ 144,594 $ 144,594 $ — $ — Soybean Futures and Options Contracts $ 1,879,092 $ 1,879,092 1,268,375 $ 610,717 $ — Soybean Forward Purchase Contracts $ 2,665,157 $ 2,665,157 $ — $ 2,665,157 $ — Soybean Inventory $ 1,791,395 1,791,395 $ — $ 1,791,395 $ — The following table provides information on those assets and liabilities measured at fair value on a recurring basis as of September 30, 2020: Instruments Carrying Amount Fair Value Level 1 Level 2 Level 3 Corn Futures and Options Contracts $ (740,993) $ (740,993) $ (718,333) $ (22,660) $ — Ethanol Futures and Options Contracts $ (666,571) $ (666,571) $ (666,571) $ — $ — Soybean Futures and Options Contracts $ (644,364) $ (644,364) $ (525,753) $ (118,611) $ — Soybean Forward Purchase Contracts $ 889,390 $ 889,390 $ — $ 889,390 $ — Soybean Inventory $ 5,987,114 $ 5,987,114 $ — $ 5,987,114 $ — We determine the fair value of commodity futures derivative instruments utilizing Level 1 inputs by obtaining fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes and live trading levels from the Chicago Board of Trade market and New York Mercantile Exchange. Corn and soybean futures and options and soybean forward purchase contracts are reported at fair value utilizing Level 2 inputs from current contract prices that are being issued by the Company. Estimated fair values for inventories carried at market are based on exchange-quoted prices, adjusted for differences in local markets and quality.

BANK FINANCING

BANK FINANCING	9 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
BANK FINANCING	BANK FINANCINGThe Company has a loan agreement consisting of two loans, the Declining Revolving Loan (Declining Loan) and the Revolving Credit Loan in exchange for liens on all property (real and personal, tangible and intangible) which include, among other things, a mortgage on the property, a security interest on commodity trading accounts and assignment of material contracts. The loan agreement assigns an interest rate based upon the U.S. Prime Rate published in the Wall Street Journal to each of the individual loans. The Revolving Credit Loan is assigned the Prime Rate minus .25%. The Declining Loan has interest charged based on the Prime Rate minus .15%. The interest rate is for each loan changes daily with the prime rate. Also, each loan has a floor rate associated with it. The Revolving Line of Credit has a minimum rate of 2.75% and the Declining Revolving Note has a minimum interest rate of 2.85%. The loan agreement provides for a minimum fixed charge coverage ratio of no less than 1.15:1.0 measured quarterly on a rolling four quarter average basis if the company's working capital is less than $23,000,000 for any reporting period and a debt service charge coverage ratio of no less than 1.25:1.0 measured quarterly on a rolling four quarter average basis, in lieu of the fixed charge coverage ratio, if working capital is equal to or more than $23,000,000. Effective January 26, 2021, the Company amended its loan agreement in order to increase the limit under the Revolving Credit Loan to $20,000,000. On April 30, 2021, the loan agreement was amended to extend the termination date of the Declining Loan to February 28, 2023 and the Revolving Credit Loan to February 28, 2022 and modify the applicable interest rates for both loans. The amendment assigns an interest rate of the U.S. Prime Rate as published in The Wall Street Journal minus 15 basis points (.15%) to the Declining Loan and the U.S. Prime Rate as published in The Wall Street Journal minus 25 basis points (.25%) to the Revolving Credit Loan. The interest rates may change each day that Prime Rate may change, but not more than once per day. The amendment also establishes a minimum interest rate for each loan. The minimum interest rate for the Declining Loan is 2.85% and for the Revolving Credit Loan is 2.75%. Declining Loan The maximum availability of the Declining Loan is $5,000,000 and such amount is to be available for working capital purposes. The interest rate on the Declining Loan was 3.40% at June 30, 2021 and 3.13% at September 30, 2020. There were approximately $1,222,000 in borrowings outstanding on the Declining Loan at June 30, 2021 and no borrowings outstanding at September 30, 2020. The Declining Loan was due to mature on April 30, 2021, but has since been renewed until February 28, 2023 at essentially the same terms. Revolving Credit Loan The Revolving Credit Loan has a limit of $20,000,000 supported by a borrowing base made up of the Company's corn, ethanol, dried distillers grain, corn oil and soybean inventories reduced by accounts payable associated with those inventories having a priority. It is also supported by the eligible accounts receivable and commodity trading account excess margin funds. The interest rate was 3.00% at June 30, 2021 and 3.06% at September 30, 2020. There were no borrowings outstanding on the Revolving Credit Loan at June 30, 2021 and September 30, 2020. The Revolving Credit Loan was due to mature on April 30, 2021, but has since been renewed until February 28, 2022 at essentially the same terms. These loans are subject to protective covenants, which require the Company to maintain various financial ratios. The covenants include a working capital requirement of $15,000,000, and a capital expenditures covenant that allows the Company $5,000,000 of expenditures per year without prior approval. There is also a requirement to maintain a minimum fixed charge coverage ratio of no less than 1.15:1.0 measured quarterly on a rolling four quarter basis. Paycheck Protection Program Loan On April 20, 2020, the Company received a loan in the approximate amount of $856,000 through the Paycheck Protection Program. The entire loan was used for payroll, utilities and interest on Company loans; therefore, the loan was eligible for complete forgiveness. The Company had applied for forgiveness; the entire loan was forgiven on April 19, 2021 and was recorded as a component of other income. As of June 30, 2021, the Company recognized forgiveness of the loan. Long-term debt, as discussed above, consists of the following at June 30, 2021: Declining Loan $ 1,222,417 Less amounts due within one year — Net long-term debt $ 1,222,417 The estimated maturities of long-term debt at June 30, 2021 are as follows: July 1, 2021 to June 30, 2022 $ 1,222,417 Total long-term debt $ 1,222,417

LEASES

LEASES	9 Months Ended
	Jun. 30, 2021
Leases [Abstract]
LEASES	LEASES The Company leases rail cars for its facility to transport ethanol and dried distillers grains to its end customers. Operating lease right of use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company uses its estimated incremental borrowing rate, unless an implicit rate is readily determinable, as the discount rate for each lease in determining the present value of lease payments. For the three and nine months ended June 30, 2021, the Company’s weighted average discount rate was 4.71%. Operating lease expense is recognized on a straight-line basis over the lease term. The Company determines if an arrangement is a lease or contains a lease at inception. The Company’s leases have remaining lease terms of approximately 1 year to 2.5 years, which may include options to extend the lease when it is reasonably certain the Company will exercise those options. For the three and nine months ended June 30, 2021, the weighted average remaining lease term was 1.28 years. The Company does not have lease arrangements with residual value guarantees, sale leaseback terms or material restrictive covenants. The Company does not have any material finance lease obligations nor sublease agreements. The following table summarizes the remaining maturities of the Company’s operating lease liabilities as of June 30, 2021: For the Fiscal Year Ending September 30, 2021 $ 729,344 2022 2,159,922 2023 338,851 Totals 3,228,117 Amount representing interest (98,454) Lease liabilities $ 3,129,663 For the three months ended June 30, 2021, the Company recorded operating lease costs of approximately $710,000 against ethanol revenue and $229,000 in cost of goods sold in the Company’s statement of operations. For the nine months ended June 30, 2021, the Company recorded operating lease costs of approximately $1,826,000 against ethanol revenue and $688,000 in costs of goods sold in the Company's statement of operations.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal Proceedings In February 2010, a lawsuit against the Company was filed by an unrelated party claiming the Company's operation of the oil separation system in a patent infringement. In connection with the lawsuit, in February 2010, the agreement for the construction and installation of the tricanter oil separation system was amended. In this amendment the manufacturer and installer of the tricanter oil separation system indemnifies the Company against all claims of infringement of patents, copyrights or other intellectual property rights from the Company's purchase and use of the tricanter oil system and agrees to defend the Company in the lawsuit filed at no expense to the Company. On October 23, 2014, the court granted summary judgment finding that all of the patents claimed were invalid and that the Company had not infringed. In addition, on September 15, 2016, the United States District Court granted summary judgment finding that the patents were invalid due to inequitable conduct before the US Patent and Trademark Office by the inventors and their attorneys. The rulings have since been affirmed on appeal and on February 22, 2021 the U.S. Supreme Court declined to review the decision. The court has yet to rule on the final attorney fees to be awarded to the defendants. Rail Car Rehabilitation Costs The Company leases 180 hopper rail cars under a multi-year agreement which ends in November 2021. Under the agreement, the Company is required to pay to rehabilitate each car for "damage" that is considered to be other than normal wear and tear upon turn in of the car(s). Company management has estimated total costs to rehabilitate the cars at June 30, 2021, to be approximately $1,676,000. During the nine months ended June 30, 2021, the Company has recorded a corresponding expense in cost of goods sold of approximately $224,000. Boiler Replacement The Company entered into a fixed commitment to replace one of its boilers. The boiler was installed during April 2021 and is operating as expected. The cost of the replacement was approximately $918,000.

UNCERTAINTIES IMPACTING THE ETH

UNCERTAINTIES IMPACTING THE ETHANOL INDUSTRY AND OUR FUTURE OPERATIONS	9 Months Ended
	Jun. 30, 2021
Risks and Uncertainties [Abstract]
UNCERTAINTIES IMPACTING THE ETHANOL INDUSTRY AND OUR FUTURE OPERATIONS	CONCENTRATIONSTwo major customers accounted for approximately 90% and 91% of the outstanding accounts receivable balance at June 30, 2021 and September 30, 2020, respectively. These same two customers accounted for approximately 73% of revenue for the nine months ended June 30, 2021 and 80% of revenue for the nine months ended June 30, 2020.UNCERTAINTIES IMPACTING THE ETHANOL INDUSTRY AND OUR FUTURE OPERATIONS The Company has certain risks and uncertainties that it experiences during volatile market conditions, which can have a severe impact on operations. The Company's revenues are primarily derived from the sale and distribution of ethanol, distillers grains and corn oil to customers primarily located in the U.S. Corn for the production process is supplied to the plant primarily from local agricultural producers and from purchases on the open market. During the nine months ended June 30, 2021 ethanol sales average approximately 59% of total revenues and corn costs average 65% of total cost of goods sold. The Company's operating and financial performance is largely driven by prices at which the Company sells ethanol, distillers grains and corn oil, and the related cost of corn. The price of ethanol is influenced by factors such as supply and demand, weather, government policies and programs, and the unleaded gasoline and petroleum markets, although, since 2005, the prices of ethanol and gasoline began a divergence with ethanol selling for less than gasoline at the wholesale level. Excess ethanol supply in the market, in particular, puts downward pressure on the price of ethanol. The Company's largest cost of production is corn. The cost of corn is generally impacted by factors such as supply and demand, weather, government policies and programs. The Company's risk management program is used to protect against the price volatility of these commodities. The Company, and the ethanol industry as a whole, experienced adverse conditions throughout 2020 and 2021, as a result of industry-wide record low ethanol prices due to reduced demand and high industry inventory levels. These factors, which are compounded by the recent impact of COVID-19, resulted in negative operating margins, lower cash flow from operations and net operating losses. In response to the low margin environment, the Company reduced its ethanol production rate by approximately 20% in March 2020. As margins improved in May of 2020, the Company began increasing its ethanol

BUSINESS SEGMENTS

BUSINESS SEGMENTS	9 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
BUSINESS SEGMENTS	BUSINESS SEGMENTS The Company has two reportable operating segments. Segment reporting is intended to give financial statement users a better view of how the Company manages and evaluates its businesses. The accounting policies for each segment are the same as those described in the summary of significant accounting policies. Segment income or loss does not include any allocation of shared-service costs. Segment assets are those that are directly used in or identified with segment operations. Inter-segment balances and transactions have been eliminated. The following tables summarize financial information by segment and provide a reconciliation of segment revenue, gross profit, grain inventories, operating income, and total assets: Three Months Ended Nine Months Ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Revenue: (unaudited) (unaudited) (unaudited) (unaudited) Ethanol division $ 99,758,386 $ 45,237,858 $ 238,544,279 $ 158,592,426 Trading division 17,514,588 6,014,203 69,880,625 23,675,176 Total Revenue $ 117,272,974 $ 51,252,061 $ 308,424,904 $ 182,267,602 Three Months Ended Nine Months Ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Gross Profit (Loss): (unaudited) (unaudited) (unaudited) (unaudited) Ethanol division $ 9,783,375 $ 1,141,810 $ 16,594,643 $ (1,055,956) Trading division (175,434) 516,126 2,304,981 1,480,392 Total Gross Profit $ 9,607,941 $ 1,657,936 $ 18,899,624 $ 424,436 Three Months Ended Nine Months Ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Operating Income (Loss): (unaudited) (unaudited) (unaudited) (unaudited) Ethanol division $ 8,341,704 $ (131,068) $ 12,137,688 $ (5,315,449) Trading division (492,677) 198,883 1,353,252 528,663 Total Operating Income (Loss) $ 7,849,027 $ 67,815 $ 13,490,940 $ (4,786,786) June 30, 2021 September 30, 2020 Raw Material Inventories: (unaudited) Ethanol division $ 13,156,118 $ 2,465,782 Trading division 1,791,395 5,987,114 Total Raw Material Inventories $ 14,947,513 $ 8,452,896 June 30, 2021 September 30, 2020 Total Assets: (unaudited) Ethanol division $ 134,244,470 $ 111,774,989 Trading division 8,217,440 17,962,289 Total Assets $ 142,461,910 $ 129,737,278

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Accounting	The accompanying unaudited condensed financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted as permitted by such rules and regulations. These financial statements and related notes should be read in conjunction with the financial statements and notes thereto included in the Company's audited financial statements for the year ended September 30, 2020, contained in the Company's annual report on Form 10-K.
Reportable Segments	Reportable Segments Accounting Standards Codification (“ASC”) 280, “Segment Reporting,” establishes the standards for reporting information about segments in financial statements. Operating segments are defined as components of an enterprise for which separate financial information is available that are evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. Based on the related business nature and expected financial results criteria set forth in ASC 280, the Company has two reportable operating segments for financial reporting purposes. • Ethanol Division. Based on the nature of the products and production process and the expected financial results, the Company’s operations at its ethanol plant, including the production and sale of ethanol and its co-products, are aggregated into one financial reporting segment. • Trading Division. The Company has a grain loading facility within the Company's single site to buy, hold and sell inventories of agricultural grains, primarily soybeans. The Company performs no additional processing of these grains, unlike the corn inventory the Company holds and uses in ethanol production. The activities of buying, selling and holding of grains other than for ethanol and co-product production comprise this financial reporting segment.
Accounting Estimates	Accounting Estimates Management uses estimates and assumptions in preparing these financial statements in accordance with generally accepted accounting principles. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. The Ethanol Division uses estimates and assumptions in accounting for the following significant matters, among others; the useful lives of fixed assets, inventory, the assumptions used in the analysis of the impairment of long lived assets, railcar rehabilitation costs, and inventory purchase commitments.
Cash and Restricted Cash	Cash The Company maintains its accounts primarily at two financial institutions. At times throughout the year the Company's cash balances may exceed amounts insured by the Federal Deposit Insurance Corporation. Restricted Cash As a part of its commodities hedging activities, the Company is required to maintain cash balances with our commodities trading companies for initial and maintenance margins on a per futures contract basis. Changes in the market value of contracts may increase these requirements. As the futures contracts expire, the margin requirements also expire. Accordingly, the Company records the cash maintained with the traders in the margin accounts as restricted cash. Since this cash is immediately available to us upon request when there is a margin excess, the Company considers this restricted cash to be a current asset.
Trade Accounts Receivable	Trade Accounts ReceivableCredit terms are extended to customers in the normal course of business. The Company performs ongoing credit evaluations of its customers' financial condition and, generally, requires no collateral. Accounts receivable are recorded at their estimated net realizable value. Accounts are considered past due if payment is not made on a timely basis in accordance with the Company's credit terms. Amounts 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.
Inventories	Inventories Ethanol Division (see Reportable Segments) inventories consist of raw materials, work in process, finished goods and spare parts. Corn is the primary raw material. Finished goods consist of ethanol, dried distiller grains and corn oil. Inventories are stated at the lower of weighted average cost or net realizable value. Net realizable value is the estimated selling prices in the normal course of business, less reasonably predictable selling costs. Trading Division (see Reportable Segments) inventories consist of grain. Soybeans were the only grains held and traded at June 30, 2021 and September 30, 2020. These inventories are stated at market value less estimated selling costs, which may include reductions for quality.
Property, Plant and Equipment	Property, Plant and EquipmentProperty, plant, and equipment are stated at cost. Depreciation is provided over estimated useful lives by use of the straight line depreciation method. Maintenance and repairs are expensed as incurred; major improvements and betterments are capitalized. Construction in progress expenditures will be depreciated using the straight-line method over their estimated useful lives once the assets are placed into service.
Long-Lived Assets	Long-Lived Assets The Company reviews its long-lived assets, such as property, plant and equipment and financing costs, subject to depreciation and amortization, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset be tested for possible impairment, the Company first
Investment	Investment Investments consist of the capital stock and patron equities of the Company's distillers grains marketer. The investments are stated at the lower of cost or fair value and adjusted for non cash patronage equities and cash equity redemptions received. Non cash patronage dividends are recognized when received and included within revenue in the condensed statements of operations.
Revenue Recognition	Revenue Recognition Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. The Company's contracts primarily consist of agreements with marketing companies and other customers as described below. The Company's performance obligations consist of the delivery of ethanol, distillers' grains, corn oil, soybeans and carbon dioxide to our customers. The consideration the Company receives for these products is fixed based on current observable market prices at the Chicago Mercantile Exchange, generally, and adjusted for local market differentials. The Company's contracts have specific delivery modes, rail or truck, and dates. Revenue is recognized when the Company delivers the products to the mode of transportation specified in the contract, at the transaction price established in the contract, net of commissions, fees, and freight. The Company sells each of the products via different marketing channels as described below. • Ethanol. The Company sells its ethanol via a marketing agreement with Murex, LLC. Murex sells one hundred percent of the Company's ethanol production based on agreements with end users at prices agreed upon mutually among the end user, Murex and the Company. Murex then provides a schedule of deliveries required and an order for each rail car or tankers needed to fulfill their commitment with the end user. These are individual performance obligations of the Company. The marketing agreement calls for control and title to pass when the delivery vehicle is filled. Revenue is recognized then at the price in the agreement with the end user, net of commissions, rail car lease, freight, and insurance. • Distillers grains. The Company engages another third-party marketing company, CHS, Inc, to sell one hundred percent of the distillers grains it produces at the plant. The process for selling the distillers grains is like that of ethanol, except that CHS takes title and control once a rail car is released to the railroad or a truck is released from the Company's scales. Prices are agreed upon among the three parties and CHS provides schedules and orders representing performance obligations. Revenue is recognized net of commissions, freight and fees. • Distillers corn oil (corn oil). The Company sells its production of corn oil directly to commercial customers. The customer is provided with a delivery schedule and pick up orders representing performance obligations are fulfilled when the customer’s driver picks up the scheduled load. The price is agreed upon at the time each contract is made, and the Company recognizes revenue at the time of delivery at that price. • Carbon dioxide. The Company sells a portion of the carbon dioxide it produces to a customer that maintains a plant on-site for a set price per ton. Delivery is defined as transference of the gas from the Company's stream to their plant. • Soybeans and other grains. The Company sells soybeans exclusively to commercial mills, processors or grain traders. Contracts are negotiated directly with the parties at prices based on negotiated prices. Cost of Goods Sold Cost of goods sold include corn, trading division grains, natural gas and other components which includes processing ingredients, electricity, railcar maintenance, depreciation of ethanol production fixed assets and wages, salaries of benefits of production personnel. Operating Expense Operating expenses include wages, salaries and benefits of administrative employees at the plant, insurance, professional fees, depreciation of trading division fixed assets, property taxes and similar costs. Payment Terms The Company has contractual payment terms with each respective marketer that sells ethanol and distillers grains. These terms are generally 10 - 20 days after the week of the transfer of control. The Company has standard payment terms of net 10 days for its sale for corn oil. The Company has standard payments terms due upon delivery for its sale of soybeans. The contractual terms with the carbon dioxide customer calls for an annual settlement. Shipping and Handling Costs 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 goods sold. Accordingly, amounts billed to customers for such costs are included as a component of revenue. Contract Liabilities
Derivative Instruments	Derivative Instruments From time to time the Company enters into derivative transactions to hedge its exposures to commodity price fluctuations. The Company is required to record these derivatives in the balance sheet at fair value. In order for a derivative to qualify as a hedge, specific criteria must be met and appropriate documentation maintained. Gains and losses from derivatives that do not qualify as hedges, or are undesignated, must be recognized immediately in earnings. If the derivative does qualify as a hedge, depending on the nature of the hedge, changes in the fair value of the derivative will be either offset against the change in fair value of the hedged assets, liabilities, or firm commitments through earnings or recognized in other comprehensive income until the hedged item is recognized in earnings. Changes in the fair value of undesignated derivatives are recorded in the statement of operations, depending on the item being hedged. Additionally, the Company is required to evaluate its contracts to determine whether the contracts are derivatives. Certain contracts that literally meet the definition of a derivative may be exempted as “normal purchases or normal sales”. Normal purchases and normal sales are contracts that provide for the purchase or sale of something other than a financial instrument or derivative instrument that will be delivered in quantities expected to be used or sold over a reasonable period in the normal course of business. Contracts that meet the requirements of normal purchases or sales are documented as normal and exempted from accounting and reporting requirements, and therefore, are not marked to market in our financial statements. The Company has elected for its Ethanol Division to apply the normal purchase normal sale exemption to all forward commodity contracts. For the Trading Division, the Company has elected not to apply the normal purchase normal sale exemption to its forward purchase and sales contracts and therefore, marks these derivative instruments to market.
Net Income (Loss) per Unit	Net Income (Loss) per Unit Basic net income (loss) per unit is computed by dividing net income (loss) by the weighted average number of members' units outstanding during the period. Diluted net income (loss) per unit is computed by dividing net income (loss) by the weighted average number of members' units and members' unit equivalents outstanding during the period. There were no member unit equivalents outstanding during the periods presented; accordingly, the Company's basic and diluted net income (loss) per unit are the same.

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables disaggregate revenue by major source for the three and nine months ended June 30, 2021 and 2020: Three Months Ended June 30, 2021 (Unaudited) Ethanol Division Trading Division Total Revenues from contracts with customers under ASC Topic 606 Ethanol $ 79,943,407 $ — $ 79,943,407 Distillers' grains 14,701,286 — 14,701,286 Corn Oil 4,977,755 — 4,977,755 Carbon Dioxide 121,288 — 121,288 Other Revenue 14,650 14,875 29,525 Total revenues from contracts with customers 99,758,386 14,875 99,773,261 Revenues from contracts accounted for as derivatives under ASC Topic 815 (1) Soybeans and other grains — 17,499,713 17,499,713 Total revenues from contracts accounted for as derivatives — 17,499,713 17,499,713 Total Revenues $ 99,758,386 $ 17,514,588 $ 117,272,974 Nine Months Ended June 30, 2021 (Unaudited) Ethanol Division Trading Division Total Revenues from contracts with customers under ASC Topic 606 Ethanol $ 182,551,687 $ — $ 182,551,687 Distillers' grains 43,552,750 — 43,552,750 Corn Oil 12,030,379 — 12,030,379 Carbon Dioxide 368,038 — 368,038 Other Revenue 41,425 119,850 161,275 Total revenues from contracts with customers 238,544,279 119,850 238,664,129 Revenues from contracts accounted for as derivatives under ASC Topic 815 (1) Soybeans and other grains — 69,760,775 69,760,775 Total revenues from contracts accounted for as derivatives — 69,760,775 69,760,775 Total Revenues $ 238,544,279 $ 69,880,625 $ 308,424,904 Three Months Ended June 30, 2020 (Unaudited) Ethanol Division Trading Division Total Revenues from contracts with customers under ASC Topic 606 Ethanol $ 31,322,704 $ — $ 31,322,704 Distillers' grains 9,770,811 — 9,770,811 Corn Oil 2,225,717 — 2,225,717 Carbon Dioxide 123,375 — 123,375 Other 1,795,251 22,625 1,817,876 Total revenues from contracts with customers 45,237,858 22,625 45,260,483 Revenues from contracts accounted for as derivatives under ASC Topic 815 (1) Soybeans and other grains — 5,991,578 5,991,578 Total revenues from contracts accounted for as derivatives — 5,991,578 5,991,578 Total Revenues $ 45,237,858 $ 6,014,203 $ 51,252,061 Nine Months Ended June 30, 2020 (Unaudited) Ethanol Division Trading Division Total Revenues from contracts with customers under ASC Topic 606 Ethanol $ 116,998,260 $ — $ 116,998,260 Distillers' grains 31,952,429 — 31,952,429 Corn Oil 7,233,285 — 7,233,285 Carbon Dioxide 370,125 — 370,125 Other 2,038,327 76,075 2,114,402 Total revenues from contracts with customers 158,592,426 76,075 158,668,501 Revenues from contracts accounted for as derivatives under ASC Topic 815 (1) Soybeans and other grains — 23,599,101 23,599,101 Total revenues from contracts accounted for as derivatives — 23,599,101 23,599,101 Total Revenues $ 158,592,426 $ 23,675,176 $ 182,267,602 (1) Revenues from contracts accounted for as derivatives represent physically settled derivative sales that are outside the scope of ASC Topic 606, Revenue from Contracts with Customers (ASC Topic 606), where the company recognizes revenue when control of the inventory is transferred within the meaning of ASC Topic 606 as required by ASC Topic 610-20, Gains and Losses from the Derecognition of Nonfinancial Assets.

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories consist of the following as of: June 30, 2021 (Unaudited) September 30, 2020 Ethanol Division: Raw materials $ 13,156,118 $ 2,465,782 Work in progress 2,763,273 1,508,084 Finished goods 2,010,227 3,833,939 Spare parts 3,706,859 3,523,781 Ethanol Division Subtotal $ 21,636,477 $ 11,331,586 Trading Division: Grain inventory $ 1,791,395 $ 5,987,114 Trading Division Subtotal 1,791,395 5,987,114 Total Inventories $ 23,427,872 $ 17,318,700

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	9 Months Ended
	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location	The following table provides balance sheet details regarding the Company's derivative financial instruments at June 30, 2021: Instrument Balance Sheet Location Assets Liabilities Ethanol Futures and Options Contracts Futures & Options Derivatives $ — $ 43,638 Corn Futures and Options Contracts Futures & Options Derivatives $ — $ 6,654,449 Soybean Oil Derivative Contracts Futures & Options Derivatives $ 144,594 $ — Soybean Futures and Options Contracts Futures & Options Derivatives $ — $ 1,879,092 Soybean Forward Purchase and Sales Contracts Forward Purchase/Sales Derivatives $ 2,738,873 $ 73,716 The following table provides balance sheet details regarding the Company's derivative financial instruments at September 30, 2020: Instrument Balance Sheet Location Assets Liabilities Ethanol Futures and Options Contracts Futures & Options Derivatives $ — $ 666,571 Corn Futures and Options Contracts Futures & Options Derivatives $ — $ 740,993 Soybean Futures and Options Contracts Futures & Options Derivatives $ — $ 644,364 Soybean Forward Purchase and Sales Contracts Forward Purchase/Sales Derivatives $ 1,115,299 $ 225,909
Derivatives Not Designated as Hedging Instruments	The following table provides details regarding the gains and (losses) from the Company's derivative instruments in the statements of operations, none of which are designated as hedging instruments: Instrument Statement of Operations Location Three Months Ended June 30, 2020 Nine Months Ended June 30, 2020 Three Months Ended June 30, 2021 Nine Months Ended June 30, 2021 Corn Futures and Options Contracts Cost of Goods Sold $ 901,144 $ 3,299,787 $ (11,254,118) $ (23,361,960) Ethanol Futures and Options Contracts Revenues (1,189,256) (3,753,455) 493,042 647,795 Natural Gas Futures and Options Contracts Cost of Goods Sold — — — (836) Soybean Futures and Options Contracts Cost of Goods Sold 159,073 810,450 (2,625,108) (8,513,405) Soybean Forward Purchase and Sales Contracts Cost of Goods Sold 190,883 54,719 (166,197) 1,376,887 Totals $ 61,844 $ 411,501 $ (13,552,381) $ (29,851,519)

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table provides information on those assets and liabilities measured at fair value on a recurring basis as of June 30, 2021: Instruments Carrying Amount Fair Value Level 1 Level 2 Level 3 Corn Futures and Options Contracts $ 6,654,449 $ 6,654,449 $ 5,346,344 $ 1,308,105 $ — Ethanol Futures and Options Contracts $ 43,638 $ 43,638 $ 43,638 $ — $ — Soybean Oil Futures and Options Contracts $ 144,594 $ 144,594 $ 144,594 $ — $ — Soybean Futures and Options Contracts $ 1,879,092 $ 1,879,092 1,268,375 $ 610,717 $ — Soybean Forward Purchase Contracts $ 2,665,157 $ 2,665,157 $ — $ 2,665,157 $ — Soybean Inventory $ 1,791,395 1,791,395 $ — $ 1,791,395 $ — The following table provides information on those assets and liabilities measured at fair value on a recurring basis as of September 30, 2020: Instruments Carrying Amount Fair Value Level 1 Level 2 Level 3 Corn Futures and Options Contracts $ (740,993) $ (740,993) $ (718,333) $ (22,660) $ — Ethanol Futures and Options Contracts $ (666,571) $ (666,571) $ (666,571) $ — $ — Soybean Futures and Options Contracts $ (644,364) $ (644,364) $ (525,753) $ (118,611) $ — Soybean Forward Purchase Contracts $ 889,390 $ 889,390 $ — $ 889,390 $ — Soybean Inventory $ 5,987,114 $ 5,987,114 $ — $ 5,987,114 $ —

BANK FINANCING (Tables)

BANK FINANCING (Tables)	9 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt, as discussed above, consists of the following at June 30, 2021: Declining Loan $ 1,222,417 Less amounts due within one year — Net long-term debt $ 1,222,417
Schedule of Maturities of Long-term Debt	The estimated maturities of long-term debt at June 30, 2021 are as follows: July 1, 2021 to June 30, 2022 $ 1,222,417 Total long-term debt $ 1,222,417

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Schedule of Future Minimum Payments for Operating Leases	The following table summarizes the remaining maturities of the Company’s operating lease liabilities as of June 30, 2021: For the Fiscal Year Ending September 30, 2021 $ 729,344 2022 2,159,922 2023 338,851 Totals 3,228,117 Amount representing interest (98,454) Lease liabilities $ 3,129,663

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	9 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables summarize financial information by segment and provide a reconciliation of segment revenue, gross profit, grain inventories, operating income, and total assets: Three Months Ended Nine Months Ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Revenue: (unaudited) (unaudited) (unaudited) (unaudited) Ethanol division $ 99,758,386 $ 45,237,858 $ 238,544,279 $ 158,592,426 Trading division 17,514,588 6,014,203 69,880,625 23,675,176 Total Revenue $ 117,272,974 $ 51,252,061 $ 308,424,904 $ 182,267,602 Three Months Ended Nine Months Ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Gross Profit (Loss): (unaudited) (unaudited) (unaudited) (unaudited) Ethanol division $ 9,783,375 $ 1,141,810 $ 16,594,643 $ (1,055,956) Trading division (175,434) 516,126 2,304,981 1,480,392 Total Gross Profit $ 9,607,941 $ 1,657,936 $ 18,899,624 $ 424,436 Three Months Ended Nine Months Ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Operating Income (Loss): (unaudited) (unaudited) (unaudited) (unaudited) Ethanol division $ 8,341,704 $ (131,068) $ 12,137,688 $ (5,315,449) Trading division (492,677) 198,883 1,353,252 528,663 Total Operating Income (Loss) $ 7,849,027 $ 67,815 $ 13,490,940 $ (4,786,786) June 30, 2021 September 30, 2020 Raw Material Inventories: (unaudited) Ethanol division $ 13,156,118 $ 2,465,782 Trading division 1,791,395 5,987,114 Total Raw Material Inventories $ 14,947,513 $ 8,452,896 June 30, 2021 September 30, 2020 Total Assets: (unaudited) Ethanol division $ 134,244,470 $ 111,774,989 Trading division 8,217,440 17,962,289 Total Assets $ 142,461,910 $ 129,737,278

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) gal in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)segmentgal	Jun. 30, 2020USD ($)gal
Product Information [Line Items]
Number of reportable segments | segment			2
Number of operating segments | segment			2
Impairment loss | $	$ 0	$ 0	$ 0	$ 0
Ethanol
Product Information [Line Items]
Annual production | gal			100,050	96,403
Ethanol Recovery System | Ethanol
Product Information [Line Items]
Additional liquefaction tank and fermenter cost | $			$ 2,400,000

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	$ 99,773,261	$ 45,260,483	$ 238,664,129	$ 158,668,501
Total revenues from contracts accounted for as derivatives	17,499,713	5,991,578	69,760,775	23,599,101
Total Revenues	117,272,974	51,252,061	308,424,904	182,267,602
Ethanol
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	79,943,407	31,322,704	182,551,687	116,998,260
Distillers' grains
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	14,701,286	9,770,811	43,552,750	31,952,429
Corn Oil
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	4,977,755	2,225,717	12,030,379	7,233,285
Carbon Dioxide
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	121,288	123,375	368,038	370,125
Other Revenue
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	29,525	1,817,876	161,275	2,114,402
Soybeans and other grains
Disaggregation of Revenue [Line Items]
Total revenues from contracts accounted for as derivatives	17,499,713	5,991,578	69,760,775	23,599,101
Ethanol Division
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	99,758,386	45,237,858	238,544,279	158,592,426
Total revenues from contracts accounted for as derivatives	0	0	0	0
Total Revenues	99,758,386	45,237,858	238,544,279	158,592,426
Ethanol Division | Ethanol
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	79,943,407	31,322,704	182,551,687	116,998,260
Ethanol Division | Distillers' grains
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	14,701,286	9,770,811	43,552,750	31,952,429
Ethanol Division | Corn Oil
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	4,977,755	2,225,717	12,030,379	7,233,285
Ethanol Division | Carbon Dioxide
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	121,288	123,375	368,038	370,125
Ethanol Division | Other Revenue
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	14,650	1,795,251	41,425	2,038,327
Ethanol Division | Soybeans and other grains
Disaggregation of Revenue [Line Items]
Total revenues from contracts accounted for as derivatives	0	0	0	0
Trading Division
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	14,875	22,625	119,850	76,075
Total revenues from contracts accounted for as derivatives	17,499,713	5,991,578	69,760,775	23,599,101
Total Revenues	17,514,588	6,014,203	69,880,625	23,675,176
Trading Division | Ethanol
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Trading Division | Distillers' grains
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Trading Division | Corn Oil
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Trading Division | Carbon Dioxide
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Trading Division | Other Revenue
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	14,875	22,625	119,850	76,075
Trading Division | Soybeans and other grains
Disaggregation of Revenue [Line Items]
Total revenues from contracts accounted for as derivatives	$ 17,499,713	$ 5,991,578	$ 69,760,775	$ 23,599,101

REVENUE - Narrative (Details)

REVENUE - Narrative (Details)	9 Months Ended
	Jun. 30, 2021
Corn Oil
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, payment terms	10 days
Minimum | Ethanol And Distillers' Grains
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, payment terms	10 days
Maximum | Ethanol And Distillers' Grains
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, payment terms	20 days

CONCENTRATIONS (Details)

CONCENTRATIONS (Details) - Customer Concentration Risk - Two Major Customers	9 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020
Accounts Receivable
Concentration Risk [Line Items]
Concentration risk	90.00%		91.00%
Sales Revenue, Goods, Net
Concentration Risk [Line Items]
Concentration risk	73.00%	80.00%

INVENTORIES - Schedule of Inven

INVENTORIES - Schedule of Inventory (Details) - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Inventory [Line Items]
Raw materials	$ 14,947,513	$ 8,452,896
Total Inventories	23,427,872	17,318,700
Ethanol Division
Inventory [Line Items]
Raw materials	13,156,118	2,465,782
Work in progress	2,763,273	1,508,084
Finished goods	2,010,227	3,833,939
Spare parts	3,706,859	3,523,781
Total Inventories	21,636,477	11,331,586
Trading Division
Inventory [Line Items]
Raw materials	1,791,395	5,987,114
Total Inventories	$ 1,791,395	$ 5,987,114

INVENTORIES - Narrative (Detail

INVENTORIES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Ethanol Division
Inventory [Line Items]
Inventory written down	$ 57	$ 72	$ 129	$ 1,697
Corn | Ethanol Division
Inventory [Line Items]
Expected production needed	10.00%		10.00%
Number of months of coverage			30 months
Distillers' grains | Ethanol Division
Inventory [Line Items]
Expected production needed	18.00%		18.00%
Number of months of coverage			2 months
Corn Oil | Ethanol Division
Inventory [Line Items]
Expected production needed	50.00%		50.00%
Number of months of coverage			6 months
Forward Soybean Purchase Contract | Trading Division
Inventory [Line Items]
Expected production needed	12.00%		12.00%
Affiliated Entity | Corn | Ethanol Division
Inventory [Line Items]
Expected production needed	13.00%		13.00%
Affiliated Entity | Forward Soybean Purchase Contract | Trading Division
Inventory [Line Items]
Expected production needed	10.00%		10.00%

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) $ in Thousands	9 Months Ended
	Jun. 30, 2021USD ($)brokerbu	Sep. 30, 2020USD ($)broker
Derivative [Line Items]
Cash collateral | $	$ 11,536	$ 4,000
Number of brokers, cash collateral | broker	4	2
Ethanol Division | Corn | Short | Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, nonmonetary notional amount, volume (in bushels or gallons)	14,869,000
Ethanol Division | Ethanol | Short | Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, nonmonetary notional amount, volume (in bushels or gallons)	6,090,000
Trading Division | Soybean | Short | Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, nonmonetary notional amount, volume (in bushels or gallons)	1,473,000
Trading Division | Soybean | Long | Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, nonmonetary notional amount, volume (in bushels or gallons)	6,000,000

Derivative Instruments - Balanc

Derivative Instruments - Balance Sheet (Details) - Not Designated as Hedging Instrument - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Future | Ethanol | Futures & Options Derivatives
Derivatives, Fair Value [Line Items]
Assets	$ 0	$ 0
Liabilities	43,638	666,571
Future | Corn | Futures & Options Derivatives
Derivatives, Fair Value [Line Items]
Assets	0	0
Liabilities	6,654,449	740,993
Future | Soybean | Futures & Options Derivatives
Derivatives, Fair Value [Line Items]
Assets	0	0
Liabilities	1,879,092	644,364
Derivative | Soybean | Futures & Options Derivatives
Derivatives, Fair Value [Line Items]
Assets	144,594
Liabilities	0
Forward Contracts | Soybean | Forward Purchase/Sales Derivatives
Derivatives, Fair Value [Line Items]
Assets	2,738,873	1,115,299
Liabilities	$ 73,716	$ 225,909

Derivative Instruments - Income

Derivative Instruments - Income Statement (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	$ (13,552,381)	$ 61,844	$ (29,851,519)	$ 411,501
Future | Not Designated as Hedging Instrument | Corn | Cost of Goods Sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	(11,254,118)	901,144	(23,361,960)	3,299,787
Future | Not Designated as Hedging Instrument | Ethanol | Revenues
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	493,042	(1,189,256)	647,795	(3,753,455)
Future | Not Designated as Hedging Instrument | Natural Gas | Cost of Goods Sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	0	0	(836)	0
Future | Not Designated as Hedging Instrument | Soybean | Cost of Goods Sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	(2,625,108)	159,073	(8,513,405)	810,450
Forward Contracts | Not Designated as Hedging Instrument | Soybean | Cost of Goods Sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	$ (166,197)	$ 190,883	$ 1,376,887	$ 54,719

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Soybean
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	$ 1,791,395	$ 5,987,114
Soybean | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	1,791,395	5,987,114
Soybean | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	0	0
Soybean | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	1,791,395	5,987,114
Soybean | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	0	0
Future | Corn
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	6,654,449	(740,993)
Future | Corn | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	6,654,449	(740,993)
Future | Corn | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	5,346,344	(718,333)
Future | Corn | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	1,308,105	(22,660)
Future | Corn | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	0	0
Future | Ethanol
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	43,638	(666,571)
Future | Ethanol | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	43,638	(666,571)
Future | Ethanol | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	43,638	(666,571)
Future | Ethanol | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	0	0
Future | Ethanol | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	0	0
Future | Soybean Oil
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	144,594
Future | Soybean Oil | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	144,594
Future | Soybean Oil | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	144,594
Future | Soybean Oil | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	0
Future | Soybean Oil | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	0
Future | Soybean
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	1,879,092	(644,364)
Future | Soybean | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	1,879,092	(644,364)
Future | Soybean | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	1,268,375	(525,753)
Future | Soybean | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	610,717	(118,611)
Future | Soybean | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	0	0
Forward Contracts | Soybean
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	2,665,157	889,390
Forward Contracts | Soybean | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	2,665,157	889,390
Forward Contracts | Soybean | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	0	0
Forward Contracts | Soybean | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	2,665,157	889,390
Forward Contracts | Soybean | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	$ 0	$ 0

BANK FINANCING - Narrative (Det

BANK FINANCING - Narrative (Details)	Apr. 30, 2021	Apr. 20, 2020USD ($)	Jun. 30, 2021USD ($)loan	Jan. 26, 2021USD ($)	Sep. 30, 2020USD ($)
Debt Instrument [Line Items]
Number of loans | loan			2
Minimum fixed charge coverage ratio			1.15
Working capital requirement			$ 23,000,000
Minimum debt service charge coverage ratio			1.25
Loan received		$ 856,000
Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate subtracted from U.S. Prime Rate	0.25%		0.25%
Interest rate			3.00%		3.06%
Minimum fixed charge coverage ratio			1.15
Working capital requirement			$ 15,000,000
Maximum availability				$ 20,000,000
Borrowings outstanding			0		$ 0
Covenant, maximum capital expenditures per year without prior approval			$ 5,000,000
Declining Loan
Debt Instrument [Line Items]
Interest rate subtracted from U.S. Prime Rate	0.15%		0.15%
Interest rate			3.40%		3.13%
Maximum availability			$ 5,000,000
Borrowings outstanding			1,222,000		$ 0
Minimum
Debt Instrument [Line Items]
Working capital requirement			$ 23,000,000
Minimum | Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate	2.75%		2.75%
Minimum | Declining Loan
Debt Instrument [Line Items]
Interest rate	2.85%		2.85%

BANK FINANCING - Schedule of Lo

BANK FINANCING - Schedule of Long-term Debt (Details) - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Debt Disclosure [Abstract]
Declining Loan	$ 1,222,417
Less amounts due within one year	0	$ 275,840
Net long-term debt	$ 1,222,417	$ 580,825

BANK FINANCING - Schedule of De

BANK FINANCING - Schedule of Debt Maturities (Details)	Jun. 30, 2021USD ($)
Debt Disclosure [Abstract]
July 1, 2021 to June 30, 2022	$ 1,222,417
Total long-term debt	$ 1,222,417

LEASES - Narrative (Details)

LEASES - Narrative (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2021USD ($)
Operating Leased Assets [Line Items]
Operating lease weighted average discount rate	4.71%	4.71%
Operating lease weighted average remaining lease term	1 year 3 months 10 days	1 year 3 months 10 days
Revenue | Ethanol Division
Operating Leased Assets [Line Items]
Operating lease cost	$ 710	$ 1,826
Cost of Goods Sold | Ethanol Division
Operating Leased Assets [Line Items]
Operating lease cost	$ 229	$ 688
Minimum
Operating Leased Assets [Line Items]
Operating lease term	1 year	1 year
Maximum
Operating Leased Assets [Line Items]
Operating lease term	2 years 6 months	2 years 6 months

LEASES (Details)

LEASES (Details)	Jun. 30, 2021USD ($)
Operating Leased Assets [Line Items]
Amount representing interest	$ (98,454)
Transportation Equipment
Operating Leased Assets [Line Items]
2021	729,344
2022	2,159,922
2023	338,851
Totals	3,228,117
Lease liabilities	$ 3,129,663

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	1 Months Ended	3 Months Ended		9 Months Ended
	Apr. 30, 2021USD ($)	Jun. 30, 2021USD ($)hopper_rail_car	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)hopper_rail_car	Jun. 30, 2020USD ($)
Loss Contingencies [Line Items]
Hopper rail cars leased | hopper_rail_car		180		180
Cost of goods sold		$ 107,665,033	$ 49,594,125	$ 289,525,280	$ 181,843,166
Payments to acquire machinery and equipment	$ 918,000
Rail Car Rehabilitation Cost Liability
Loss Contingencies [Line Items]
Estimated rehabilitation costs		$ 1,676,000		1,676,000
Cost of goods sold				$ 224,000

UNCERTAINTIES IMPACTING THE E_2

UNCERTAINTIES IMPACTING THE ETHANOL INDUSTRY AND OUR FUTURE OPERATIONS (Details) gal in Millions	9 Months Ended	13 Months Ended
	Jun. 30, 2021USD ($)gal	Mar. 31, 2021
Concentration Risk [Line Items]
Reduction In Production Rate		20.00%
Revolving Credit Facility
Concentration Risk [Line Items]
Line of credit facility, increase | $	$ 5,000,000
Sales Revenue, Goods, Net | Ethanol | UNITED STATES
Concentration Risk [Line Items]
Concentration risk	59.00%
Cost of Goods, Segment | Corn | UNITED STATES
Concentration Risk [Line Items]
Concentration risk	65.00%
Ethanol
Concentration Risk [Line Items]
Annual production capacity | gal	140

BUSINESS SEGMENTS - Narrative (

BUSINESS SEGMENTS - Narrative (Details)	9 Months Ended
	Jun. 30, 2021segment
Segment Reporting [Abstract]
Number of reportable segments	2
Number of operating segments	2

BUSINESS SEGMENTS - Schedule of

BUSINESS SEGMENTS - Schedule of Business Segments (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue:	$ 117,272,974	$ 51,252,061	$ 308,424,904	$ 182,267,602
Gross Profit (Loss):	9,607,941	1,657,936	18,899,624	424,436
Operating Income (Loss):	7,849,027	67,815	13,490,940	(4,786,786)
Raw Material Inventories:	14,947,513		14,947,513		$ 8,452,896
Total Assets:	142,461,910		142,461,910		129,737,278
Ethanol division
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue:	99,758,386	45,237,858	238,544,279	158,592,426
Gross Profit (Loss):	9,783,375	1,141,810	16,594,643	(1,055,956)
Operating Income (Loss):	8,341,704	(131,068)	12,137,688	(5,315,449)
Raw Material Inventories:	13,156,118		13,156,118		2,465,782
Total Assets:	134,244,470		134,244,470		111,774,989
Trading division
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue:	17,514,588	6,014,203	69,880,625	23,675,176
Gross Profit (Loss):	(175,434)	516,126	2,304,981	1,480,392
Operating Income (Loss):	(492,677)	$ 198,883	1,353,252	$ 528,663
Raw Material Inventories:	1,791,395		1,791,395		5,987,114
Total Assets:	$ 8,217,440		$ 8,217,440		$ 17,962,289