Southwest Iowa Renewable Energy (SWIOU) 10-Q13 Aug 142014 Q3 Quarterly reportFinancial data

Company Profile

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
Document And Entity Information	Jun. 30, 2014	Sep. 30, 2013
Document Information [Line Items]	'	'
Entity Registrant Name	'Southwest Iowa Renewable Energy, LLC	'
Entity Central Index Key	'0001424844	'
Current Fiscal Year End Date	'--09-30	'
Entity Filer Category	'Smaller Reporting Company	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Amendment Flag	'false	'
Entity Common Stock, Shares Outstanding	13,327	'
Common Class A [Member]	'	'
Document Information [Line Items]	'	'
Entity Common Stock, Shares Outstanding	8,993	'
Common Class B [Member]	'	'
Document Information [Line Items]	'	'
Entity Common Stock, Shares Outstanding	3,334	'
Common Class C [Member]	'	'
Document Information [Line Items]	'	'
Entity Common Stock, Shares Outstanding	1,000	'

Balance_Sheets

Balance Sheets (USD $)	Jun. 30, 2014	Sep. 30, 2013
In Thousands, unless otherwise specified	Jun. 30, 2014	Sep. 30, 2013
Current Assets	'	'
Cash and cash equivalents	$3,504	$12,437
Restricted cash	304	303
Accounts receivable	721	722
Accounts receivable, related party	9,523	10,441
Derivative financial instruments	862	767
Inventory	12,803	8,445
Prepaid expenses and other	871	438
Total current assets	28,588	33,553
Property, Plant, and Equipment	'	'
Land	2,064	2,064
Plant, building and equipment	206,971	205,356
Office and other equipment	1,069	751
Total Cost	210,104	208,171
Accumulated depreciation	-73,506	-64,987
Net property and equipment	136,598	143,184
Other Assets	'	'
Financing costs, net of amortization of $3,202 and $2,341, respectively	418	431
Other assets	1,258	1,258
Total other assets	1,676	1,689
Total Assets	166,862	178,426
Current Liabilities	'	'
Accounts payable	1,980	1,130
Accounts payable, related parties	3,687	6,457
Derivative Financial Instruments Related Party	2,056	493
Accrued expenses	3,926	3,318
Accrued expenses, related parties	574	932
Current maturities of notes payable	4,523	123,887
Total current liabilities	16,746	136,217
Long Term Liabilities	'	'
Notes payable, less current maturities	61,948	212
Other long-term liabilities	325	400
Total long term liabilities	62,273	612
Members' Equity	'	'
Members' capital, 13,139 Units issued and outstanding	87,165	76,488
Accumulated profit (deficit)	678	-34,891
Total members' equity	87,843	41,597
Total Liabilities and Members' Equity	$166,862	$178,426

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2014	Sep. 30, 2013
Statement of Financial Position [Abstract]	'	'
Financing costs, amortization	'	'
Members' capital, units issued	'	'
Members' capital, units outstanding	13,327	'

Statements_Of_Operations

Statements Of Operations (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenues	$88,158	$94,472	$251,315	$247,996
Cost of Goods Sold	'	'	'	'
Cost of goods sold-non hedging	65,841	92,069	190,326	247,195
Realized & unrealized hedging (gains)	3,205	-2,336	5,542	443
Cost of Goods Sold	69,046	89,733	195,868	247,638
Gross Margin	19,112	4,739	55,447	358
General and administrative expenses	1,344	942	3,701	2,930
Operating Income	17,768	3,797	51,746	-2,572
Other Income (Expense)	'	'	'	'
Other (Income) Expense	2,080	2,296	6,049	7,034
Gains (Losses) on Extinguishment of Debt	10,128	0	10,128	0
Net (Loss)	$5,560	$1,501	$35,569	($9,606)
Weighted Average Units Outstanding	13,205	13,139	13,164	13,139
Weighted Average Number of Shares Outstanding, Diluted	25,234	29,375	25,424	13,139
Earnings Per Share, Basic	$421.05	$114.24	$2,701.99	($731.11)
Earnings Per Share, Diluted	$247.52	$83.71	$1,483.44	($731.11)

Condensed_Statements_Of_Cash_F

Condensed Statements Of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Revenues	$251,315	$247,996
Debt Conversion, Original Debt, Amount	549	0
Cash Flows From Operating Activities	'	'
Net (loss)	35,569	-9,606
Adjustments to reconcile net (loss) to net cash provided by operating activities:	'	'
Depreciation	8,601	8,546
Amortization	431	405
Debt Instrument, Increase, Accrued Interest	2,018	1,952
Loss on disposal of property	150	18
Gains (Losses) on Extinguishment of Debt	10,128	0
(Increase) decrease in current assets:	'	'
Accounts receivable	919	1,299
Inventories	-4,658	-5,321
Prepaid expenses and other	-433	-284
Increase (Decrease) in Derivative Assets	-95	4,871
Decrease in other long-term liabilities	-75	-75
Increase (decrease) in current liabilities:	'	'
Accounts payable	-1,920	2,745
Derivative Liability	1,563	76
Accrued expenses	250	0
Net cash provided by operating activities	52,448	4,626
Cash Flows From Investing Activities	'	'
Purchase of property and equipment	-1,865	-452
Increase in restricted cash	-1	-1
Net Cash Provided by (Used in) Investing Activities	-1,866	-453
Cash Flows From Financing Activities	'	'
Payments of Financing Costs	418	0
Proceeds from notes payable	86,000	74,900
Payments on borrowings	-145,097	-75,626
Net cash (used in) financing activities	-59,515	-726
Cash and Cash Equivalents, Period Increase (Decrease)	-8,933	3,447
Cash And Equivalents-Beginning	12,437	6,285
Cash And Equivalents-Ending	3,504	9,732
Supplemental Disclosures Of Noncash Investing And Financing Activities	'	'
Property, Plant and Equipment, Gross, Period Increase (Decrease)	-300	0
Increase (Decrease) in Raw Materials, Packaging Materials and Supplies Inventories	300	0
Property, Plant and Equipment, Disposals	232	0
Supplemental Cash Flow Information [Abstract]	'	'
Cash paid for interest	4,425	3,855
Increase (decrease) in Members' Equity due to Loss on Debt Extinguishment	$10,128	$0

Nature_Of_Business

Nature Of Business	9 Months Ended
Nature Of Business	Jun. 30, 2014
Nature Of Business [Abstract]	'
Nature Of Business	'
	Nature of Business
	Southwest Iowa Renewable Energy, LLC (the “Company”), located in Council Bluffs, Iowa, was formed in March, 2005 and began producing ethanol in February, 2009. The Company is permitted to produce up to 125 million gallons of ethanol per year. The Company sells its ethanol, distillers grains, corn syrup, and corn oil in the continental United States, Mexico, and the Pacific Rim.

Summary_Of_Significant_Account

Summary Of Significant Accounting Policies	9 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Summary Of Significant Accounting Policies	'
	Summary of Significant Accounting Policies
	Basis of Presentation and Other Information
	The accompanying financial statements as of June 30, 2014 and for the three and nine months ended June 30, 2014 and 2013 are unaudited and reflect all adjustments (consisting only of normal recurring adjustments) which are, in the opinion of management, necessary for a fair presentation of the financial position and operating results for the interim periods. These unaudited financial statements and notes should be read in conjunction with the audited financial statements and notes thereto, for the fiscal year ended September 30, 2013 contained in the Company’s Annual Report on Form 10-K. The results of operations for the interim periods presented are not necessarily indicative of the results for the entire year.
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.
	Revenue Recognition
	The Company sells ethanol and related products pursuant to marketing agreements. Revenues are recognized when the marketing company (the “customer”) has taken title to the product, prices are fixed or determinable and collectability is reasonably assured.
	The Company’s products are generally shipped FOB loading point. The Company’s ethanol sales are handled through an ethanol purchase agreement (the “Ethanol Agreement”) with Bunge North America, Inc. (“Bunge”). Syrup and distillers grain (co-products) are sold through a distillers grains agreement (the “DG Agreement”) with Bunge, based on market prices. Corn oil is sold through a corn oil agreement (the “Corn Oil Agency Agreement”) with Bunge based on market prices. Marketing fees, agency fees, and commissions due to the marketer are paid separately from the settlement for the sale of the ethanol products and co-products and are included as a component of cost of goods sold. Shipping and handling costs incurred by the Company for the sale of ethanol and co-products are included in cost of goods sold.
	Accounts Receivable
	Trade accounts receivable are recorded at original invoice amounts less an estimate made for doubtful receivables based on a review of all outstanding amounts on a monthly basis. Most of the trade accounts are with Bunge. Management determines the allowance for doubtful accounts by regularly evaluating customer receivables and considering customer’s financial condition, credit history and current economic conditions. As of June 30, 2014 and September 30, 2013, management had determined no allowance was necessary. Receivables are written off when deemed uncollectable and recoveries of receivables written off are recorded when received.
	Investment in Commodities Contracts, Derivative Instruments and Hedging Activities
	The Company’s operations and cash flows are subject to fluctuations due to changes in commodity prices. The Company is subject to market risk with respect to the price and availability of corn, the principal raw material used to produce ethanol and ethanol by-products. Exposure to commodity price risk results from the Company’s dependence on corn in the ethanol production process. In general, rising corn prices can result in lower profit margins and, therefore, represent unfavorable market conditions. This is especially true when market conditions do not allow the Company to pass along increased corn costs to customers. The availability and price of corn is subject to wide fluctuations due to unpredictable factors such as weather conditions, farmer planting decisions, governmental policies with respect to agriculture and international trade and global demand and supply.
	To minimize the risk and the volatility of commodity prices, primarily related to corn and ethanol, the Company uses various derivative instruments, including forward corn, ethanol, and distillers grains purchase and sales contracts, over-the-counter and exchange-traded futures and option contracts. From time to time, when market conditions are appropriate and the Company has sufficient working capital available, the Company will enter into derivative contracts to hedge its exposure to price risk related to forecasted corn needs and forward corn purchase contracts. The Company uses cash, futures and options contracts to hedge changes to the commodity prices of corn and ethanol.
	Management has evaluated the Company’s contracts to determine whether the contracts are derivative instruments. Certain contracts that literally meet the definition of a derivative may be exempted from derivative accounting as normal purchases or normal sales. Normal purchases and normal sales are contracts that provide for the purchase or sale of something other than a financial instrument or derivative instrument that will be delivered in quantities expected to be used or sold over a reasonable period in the normal course of business. Gains and losses on contracts designated as normal purchases or normal sales contracts are not recognized until quantities are delivered or utilized in production.
	The Company applies the normal purchase and sale exemption to forward contracts relating to ethanol and distillers grains and solubles and therefore these forward contracts are not marked to market. As of June 30, 2014, the Company was committed to sell 12.1 million gallons of ethanol and 68.1 thousand tons of distillers grains.
	The Company enters into short-term cash, options and futures contracts as a means of managing exposure to changes in commodity prices. The Company enters into derivative contracts to hedge the exposure to volatile commodity price fluctuations. The Company maintains a risk management strategy that uses derivative instruments to minimize significant, unanticipated earnings fluctuations caused by market volatility. The Company’s specific goal is to protect itself from large moves in commodity costs. Although the contracts are intended to be effective economic hedges of specified risks, they are not designated as a hedge for accounting purposes and are recorded on the balance sheet at fair market value with changes in market value recognized in current period earnings.
	Corn purchase contracts are treated as derivative financial instruments. Changes in market value of forward corn contracts, which are marked to market each period, are included in costs of goods sold. As of June 30, 2014, the Company was committed to purchasing 3.6 million bushels of corn on a forward contract basis resulting in a total commitment of $16.7 million.
	In addition the Company was committed to purchasing 1.1 million bushels of corn on basis contracts.
	As part of its trading activity, the Company uses futures and option contracts offered through regulated commodity exchanges to reduce risk and risk of loss in the market value of inventories. To reduce that risk, the Company generally takes positions using cash and futures contracts and options. The gains or losses on derivative instruments are included in revenue if the contracts relate to ethanol, and cost of goods sold if the contracts relate to corn. The Company reports all contracts with the same counter-party on a net basis on the balance sheet due to a master netting agreement.
	Derivatives not designated as hedging instruments along with cash held by brokers at June 30, 2014 and September 30, 2013 at market value are as follows:


		Balance Sheet Classification	June 30, 2014			September 30, 2013

			in 000's			in 000's
	Futures and option contracts
	In gain position		$	626		$	356

	In loss position		(1,962		)	(518		)
	Cash held by broker		2,198			929

		Current asset	862			767



	Forward contracts, corn, related party	Current liability	2,056			493



	Net futures, options, and forward contracts		$	(1,194	)	$	274


	The net realized and unrealized gains and losses on the Company’s derivative contracts for the three and nine months ended June 30, 2014 and 2013 consist of the following (in thousands of dollars):


			Three months ended						Nine months ended
		Statement of Operations Classification	30-Jun-14			June 30, 2013			June 30, 2014				June 30, 2013
	Net realized and unrealized (gains) losses related to:


	Forward purchase contracts (corn)	Cost of Goods Sold	$	2,713		$	(150	)	$	3,873			$	4,559

	Futures and option contracts (corn)	Cost of Goods Sold	$	492		(2,186		)	$	1,669			$	(4,116	)

	Futures and option contracts (ethanol)	Revenue	$	1,146		—			$	1,146			—


	Inventory
	Inventory is stated at the lower of cost or market value using the average cost method. Market value is based on current replacement values, to the extent that it does not exceed net realizable values and it is not less than the net realizable values reduced by an allowance for normal profit margin.
	Fair value of financial instruments
	The carrying amounts of cash and cash equivalents, derivative financial instruments, accounts receivable, accounts payable, and accrued expenses approximate fair value due to the short term nature of these instruments. The carrying value of senior debt approximates fair value based on the variable interest rate and it being issued close to the end of the period.
	Income (loss) Per Unit
	Basic income (loss) per unit is calculated by dividing net income (loss) by the weighted average units outstanding for each period. Diluted income (loss) per unit is calculated by dividing income (loss) adjusted for interest on the convertible debt (when anti-dilutive) by the sum of the weighted average units outstanding and the weighted average dilutive units, using the treasury stock method. Units from convertible term notes are considered unit equivalents and are considered in the diluted income per unit computation, but have not been included in the computations of diluted income (loss) per unit for the nine months ended June 30, 2013, because their effect would be anti-dilutive during those periods. Basic earnings and diluted per unit data were computed as follows (in thousands except per unit data):


	Three Months Ended						Nine Months Ended
	30-Jun-14			30-Jun-13			30-Jun-14			30-Jun-13
Numerator:
Net income (loss) for basic earnings per unit	$	5,560		$	1,501		$	35,569		$	(9,606	)

Interest expense on convertible term note	686			958			2,146			—

Net income (loss) for diluted earnings per unit	$	6,246		$	2,459		$	37,715		$	(9,606	)


Denominator:
Weighted average units outstanding - basic	13,205			13,139			13,164			13,139

Weighted average units outstanding - diluted	25,234			29,375			25,424			13,139

Income (loss) per unit - basic	$	421.05		$	114.24		$	2,701.99		$	(731.11	)

Income (loss) per unit - diluted	$	247.52		$	83.71		$	1,483.44		$	(731.11	)

Inventory

Inventory	9 Months Ended
	Jun. 30, 2014
Inventory Disclosure [Abstract]	'
Inventory	'
	Inventory
	Inventory is comprised of the following at:


		June 30, 2014		September 30, 2013
		(000's)		(000's)
	Raw Materials - corn	$	3,001	$	2,607

	Supplies and Chemicals	3,174		2,780

	Work in Process	1,892		2,090

	Finished Goods	4,736		968

	Total	$	12,803	$	8,445

Members_Equity

Members' Equity	9 Months Ended
	Jun. 30, 2014
Stockholders' Equity Note [Abstract]	'
Members' Equity	'
	Members’ Equity
	At June 30, 2014 outstanding member units were:


	Series A Units Outstanding	8,993

	Series B Units Outstanding	3,334

	Series C Units Outstanding	1,000

	Series U Units Outstanding	—



	The Series A, B and C unit holders all vote on certain matters with equal rights. The Series C unit holders as a group have the right to elect one member of the Board of Directors (the “Board”). The Series B unit holders as a group have the right to elect two Board members. Series A unit holders as a group have the right to elect the remaining number of Directors not elected by the Series C and B unit holders.
	On May 31, 2014, convertible notes payable to unit holders totaling $549,000 were converted into 183 A units at $3,000 per unit. The remaining $25,219 plus accrued interest of $14,994 was paid to completely retire the notes.
	At June 30, 2014, book value was $6,591 per unit.

Revolving_LoanCredit_Agreement

Revolving Loan/Credit Agreements	9 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Revolving Loan/Credit Agreements	'
	Revolving Loan/Credit Agreements
	FCSA/CoBank
	The Company entered into a credit agreement with Farm Credit Services of America, FLCA (“ FCSA ”) and CoBank, ACB, as cash management provider and agent (“CoBank ”) which provides the Company with a term loan in the amount of $30,000,000 (the “ Term Loan ”) and a revolving term loan in the amount of up to $36,000,000 (the “ Revolving Term Loan ,” together with the Term Loan, the “ FCSA Credit Facility ”). The FCSA Credit Facility is secured by a security interest on all of the Company’s assets.

	The Term Loan provides for payments by the Company to FCSA of quarterly installments of $1,500,000 each, beginning on December 20, 2014 with a maturity date of September 20, 2019. The Revolving Term Loan has a maturity date of June 1, 2023 and requires reductions in principal availability in increments of $6,000,000 each June 1 commencing on June 1, 2020. Under the FCSA Credit Facility, the Company has the right to select from the several LIBOR based interest rate options with respect to each of the Term Loan and the Revolving Term Loan.

	As of June 30, 2014 , there was $40.0 million outstanding under the FCSA Credit Facility, with $26.0 million available under the Revolving Term Loan.

	AgStar
	The Company originally entered into a Credit Agreement, with AgStar Financial Services, PCA (“AgStar”) and a group of lenders for $126,000,000 senior secured debt, consisting of a $101,000,000 term loan, a term revolver of up to $10,000,000 and a revolving working capital term facility of up to $15,000,000.
	As of September 30, 2013, the outstanding balance under the Credit Agreement was $68,837,175.

	All outstanding principal under the AgStar Credit Facility was paid off on June 24, 2014 with proceeds from the FSCA Credit Facility and the AgStar Credit Agreement was retired.


	Bunge

	Effective June 23, 2014, the Company amended and restated its Subordinated Term Loan Note by and between the Company and Bunge (the “ Bunge Term Loan Note ”). The Bunge Term Loan Note provides a loan in the principal amount of $19,517,137 and matures on July 1, 2023. Interest under the Bunge Term Loan Note payable is calculated at a rate of Six and One Quarter Percent (6.25%) over LIBOR. Interest under the Bunge Term Loan Note is due and payable quarterly commencing on September 30, 2014. The Company may prepay any or all of the outstanding principal balance on the Bunge Term Loan Note at any time with thirty (30) days prior written notice to Bunge without penalty or premium. As under the prior Subordinated Term Loan Note between Bunge and the Company, Bunge may convert any or all of a portion of the outstanding principal to Series U Units of the Company at a price of $3,000 per unit at its option upon fifteen (15) days prior notice to the Company by Bunge. As part of the amendment and restatement, the Company paid a total of $19,922,241 of principal and accrued interest on the outstanding loan, extended the term as indicated and reduced the interest rate from Seven and One Half Percent (7.5%) over LIBOR to the indicated rate.

	As of June 30, 2014 and September 30, 2013, there was $24,601 and $491,957 of accrued interest (included in accrued expenses, related parties) due to Bunge, respectively. Interest on the renewed note accrues monthly and is payable quarterly.
	The Company had a revolving note with Bunge with a balance as of September 30, 2013 of $5,000,000, which was not renewed June 23, 2014.
	ICM
	Effective June 23, 2014, the Company amended and restated its Subordinated Term Loan Note by and between the Company and ICM (the “ ICM Term Loan Note ”). The ICM Term Loan Note provides a loan in the principal amount of $6,726,758. The ICM Term Loan Note matures on July 1, 2023. Interest under the ICM Term Loan Note is calculated at a rate of Six and One Quarter Percent (6.25%) per annum over LIBOR. Interest under the ICM Term Loan Note is due and payable quarterly commencing on September 30, 2014. The Company may prepay any or all of the outstanding principal balance on the ICM Term Loan Note at any time with thirty (30) days prior written notice to ICM without penalty or premium. As under the prior Subordinated Term Loan Note by and between ICM and the Company, ICM may convert any or all of a portion of the outstanding principal to Series C Units of the Company at a price of $3,000 per unit at its option upon fifteen (15) days prior notice to the Company by ICM. As part of the amendment and restatement, the Company paid a total of $6,866,381 of principal and accrued interest on the outstanding loan, extended the term as indicated and reduced the interest rate from Seven and One Half Percent (7.5%) over LIBOR to the indicated rate.

	As of June 30, 2014 and September 30, 2013, there was $8,479 and $169,557 of accrued interest due (included in accrued expenses, related parties) to ICM, respectively.
	Loss from debt extinguishment

	As a result of amending and restating the Bunge and ICM Subordinated Term Loan (Subdebt) agreements on June 23, 2014 to a new maturity date, the Company evaluated the change under the debt modification accounting guidance for an instrument with an embedded conversion feature. As a result of this evaluation, the Company determined an extinguishment occurred, which required determination of the fair value of the related debt. The Company determined that the Subdebt fair value exceeded the face value by approximately $10.1 million due to the substantial premium contained in the conversion feature resulting in loss on debt extinguishment. Due to the substantial premium on the conversion feature in accordance with ASC 470-20-25-13, the resulting offset to the loss was reflected as an increase to members’ equity with the debt remaining at face value.


	Notes payable

	Notes payable consists of the following:


		June 30, 2014			September 30, 2013
		(000's)			(000's)
	$300,000 Note payable to IDED, a non-interest bearing obligation with monthly payments of $2,500 due through the maturity date of March 26, 2016 on the non-forgivable portion.	$	197		$	220

	Note payable to affiliate Bunge bearing interest at LIBOR plus 6.25% (6.48260% at June 30, 2014); maturity on July 1, 2023.	19,517			36,765

	Note payable to affiliate ICM bearing interest at LIBOR plus 6.25% (6.48260% at June 30, 2014); maturity on July 1, 2023.	6,727			12,671

	Capital leases payable to AgStar bearing interest at 3.088% matures May 15, 2015.	30			53

	Term facility payable to FSCA bearing interest at LIBOR plus 3.35% (3.50% at June 30, 2014); maturity date of September 20, 2019.	30,000			—

	Term Revolver payable to FSCA bearing interest at LIBOR plus 3.35% (3.50% at June 30, 2014); maturity at June 1, 2023.	10,000			—

	Convertible Notes payable to unit holders was retired or converted May 31, 2014	—			552

	Term facility payable to AgStar was retired June 24, 2014.	—			28,232

	Term facility payable to AgStar was retired June 24, 2014.	—			30,606

	Term revolver payable to AgStar was retired June 24, 2014.	—			10,000

	Revolving line of credit payable to Bunge was retired June 24, 2014.	—			5,000

		66,471			124,099

	Less Current Maturities	4,523			123,887

Total Long Term Debt	61,948			212


The approximate aggregate maturities of notes payable as of June 30, are as follows:


2014	$	4,523


2015	6,052


2016	6,152


2017	6,000


2018	6,000


2019 and Thereafter	37,744


Total	$	66,471

Fair_Value_Measurement

Fair Value Measurement

9 Months Ended

Jun. 30, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurement

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining fair value, the Company used various methods including market, income and cost approaches. Based on these approaches, the Company often utilized certain assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and/or the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable inputs. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. Based on the observable inputs used in the valuation techniques, the Company is required to provide the following information according to the fair value hierarchy.

The fair value hierarchy ranks the quality and reliability of the information used to determine fair values. Financial assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories:

Level 1 -

Valuations for assets and liabilities traded in active markets from readily available pricing sources for market transactions involving identical assets or liabilities.

Level 2 -

Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained from third-party pricing services for identical or similar assets or liabilities.

Level 3 -

Valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets or liabilities.

A description of the valuation methodologies used for instruments measured at fair value, including the general classifications of such instruments pursuant to the valuation hierarchy, is set below.

Derivative financial instruments. Commodity futures and exchange traded options are reported at fair value utilizing Level 1 inputs. For these contracts, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes and live trading levels from the Chicago Mercantile Exchange (“CME”) market. Ethanol contracts are reported at fair value utilizing Level 1 inputs from third-party pricing services. Forward purchase contracts are reported at fair value utilizing Level 2 inputs. For these contracts, the Company obtains fair value measurements from local grain terminal values. The fair value measurements consider observable data that may include live trading bids from local elevators and processing plants which are based on the CME market.

The following table summarizes financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2014 and September 30, 2013, categorized by the level of the valuation inputs within the fair value hierarchy:

June 30, 2014

Level 1

Level 2

Level 3

Assets:

Derivative financial instruments

625,638

—

Liabilities:

Derivative financial instruments

1,961,813

2,056,281

—

September 30, 2013

Level 1

Level 2

Level 3

Assets:

Derivative financial instruments

355,575

—

Liabilities:

Derivative financial instruments

517,525

493,175

—

Related_Party_Transactions

Related Party Transactions	9 Months Ended
Related Party Transactions	Jun. 30, 2014
Related Party Transaction, Due from (to) Related Party [Abstract]	'
Related Party Transactions	'
	Related Party Transactions
	Bunge
	On November 1, 2006, in consideration of its agreement to invest $20.0 million in the Company, Bunge purchased the only Series B Units under an arrangement whereby the Company would (i) enter into various agreements with Bunge or its affiliates (discussed below) for management, marketing and other services, and (ii) have the right to elect a number of Series B Directors which are proportionate to the number of Series B Units owned by Bunge, as compared to all Units. Under the Company’s Third Amended and Restated Operating Agreement (the “Operating Agreement”), the Company may not, without Bunge’s approval (i) issue additional Series B Units, (ii) create any additional Series of Units with rights which are superior to the Series B Units, (iii) modify the Operating Agreement to adversely impact the rights of Series B Unit holders, (iv) change its status from one which is managed by managers, or vise versa, (v) repurchase or redeem any Series B Units, (vi) take any action which would cause a bankruptcy, or (vii) approve a transfer of Units allowing the transferee to hold more than 17% of the Company’s Units or to a transferee which is a direct competitor of Bunge.
	Under the Ethanol Agreement, the Company sells Bunge all of the ethanol produced at its facility, and Bunge purchases the same. The Company pays Bunge a per-gallon fee for ethanol sold by Bunge, subject to a minimum annual fee of $750 thousand adjusted according to specified indexes after three years. The Ethanol Agreement runs through August 31, 2014 and will automatically renew for successive three-year terms thereafter unless one party provides the other with notice of their election to terminate 180 days prior to the end of the term. The Company has incurred expenses of $351 thousand and $397 thousand during the three months ended June 30, 2014 and 2013, respectively, under the Ethanol Agreement. The Company has incurred expenses of $1.0 million and $1.0 million during the nine months ended June 30, 2014 and 2013, respectively, under the Ethanol Agreement.
	On February 28, 2014, the Company notified Bunge of its intent to terminate the Ethanol Agreement, pending final negotiations of the senior and subordinated debt, as well as evaluating the Ethanol Agreement compared to others in the industry.
	Under a Risk Management Services Agreement effective January 1, 2009, Bunge agreed to provide the Company with assistance in managing its commodity price risks for a quarterly fee of $75 thousand. The Risk Management Services Agreement has an initial term of three years and automatically renews for successive three year terms, unless one party provides the other notice of their election to terminate 180 days prior to the end of the term. Expenses under the Risk Management Services Agreement for the three months ended June 30, 2014 and 2013 were $75 thousand. Expenses under the Risk Management Services Agreement for the nine months ended June 30, 2014 and 2013 were $225 thousand.
	On June 26, 2009, the Company executed a Railcar Agreement with Bunge for the lease of 325 ethanol cars and 300 hopper cars which are used for the delivery and marketing of ethanol and distillers grains. Under the Railcar Agreement, the Company leases railcars for terms lasting 120 months and continuing on a month to month basis thereafter. The Railcar Agreement will terminate upon the expiration of all railcar leases. Expenses under this agreement for the three months ended June 30, 2014 and 2013 were $0.8 million and $1.1 million net of subleases and accretion, respectively. Expenses under this agreement for the nine months ended June 30, 2014 and 2013 were $2.5 million and $3.3 million net of subleases and accretion, respectively. The Company has a sublease for 200 hopper cars that expires September 14, 2014. As the sublease rate is less than the original lease rate, a loss was recorded at inception of the sublease and is being accreted to rent expense over the life of the sublease. Upon expiration of the sublease, the Company will continue to work with Bunge to determine the most economic use of the available ethanol and hopper cars in light of the current market conditions. In December 2013 the Company subleased 55 cars to an unrelated party and recalled 25 cars from Bunge. The Company has subleased other cars to other unrelated parties on a short term basis.
	The Company entered into a Distillers Grain Purchase Agreement dated October 13, 2006, as amended with Bunge, under which Bunge is obligated to purchase from the Company and the Company is obligated to sell to Bunge all distillers grains produced at the facility. If the Company finds another purchaser for distillers grains offering a better price for the same grade, quality, quantity, and delivery period, it can ask Bunge to either market directly to the other purchaser or market to another purchaser on the same terms and pricing. The initial 10-year term of the DG Agreement began February 1, 2009. The DG Agreement automatically renews for additional 3-year terms unless one party provides the other party with notice of election to not renew 180 days or more prior to expiration.
	Under the DG Agreement, Bunge pays the Company a purchase price equal to the sales price minus the marketing fee and transportation costs. The sales price is the price received by Bunge in a contract consistent with the Company's DG Marketing Policy or the spot price agreed to between Bunge and the Company. Bunge receives a marketing fee consisting of a percentage of the net sales price, subject to a minimum yearly payment of $150 thousand. Net sales price is the sales price less the transportation costs and rail lease charges. The transportation costs are all freight charges, fuel surcharges, and other accessorial charges applicable to delivery of distillers grains. Rail lease charges are the monthly lease payment for rail cars along with all administrative and tax filing fees for such leased rail cars. Expenses under this agreement for the three months ended June 30, 2014 and 2013 were $509 thousand and $600 thousand, respectively. Expenses under this agreement for the nine months ended June 30, 2014 and 2013 were $1.5 million and $1.7 million, respectively.
	On August 26, 2009, the Company also executed a Bunge Agreement—Equity Matters (the “Equity Agreement”). The Bunge Equity Agreement provides that (i) Bunge has preemptive rights to purchase new securities in the Company.
	The Company is a party to a Grain Feedstock Supply Agreement (the “Supply Agreement”) with Bunge on July 15, 2008. Under the Supply Agreement, Bunge provides the Company with all of the corn it needs to operate the ethanol plant, and the Company has agreed to only purchase corn from Bunge. Bunge provides grain originators for purposes of fulfilling its obligations under the Supply Agreement. The Company pays Bunge a per-bushel fee for corn under the Supply Agreement, subject to a minimum annual fee of $675 thousand and adjustments according to specified indexes after three years. The term of the Supply Agreement is 10 years, subject to earlier termination upon specified events. Expenses under this agreement for the three months ended June 30, 2014 and 2013 were $333 thousand and $330 thousand, respectively. Expenses under this agreement for the nine months ended June 30, 2014 and 2013 were $993 thousand and $862 thousand, respectively.
	On November 12, 2010, the Company entered into a Corn Oil Agency Agreement with Bunge to market its corn oil, which has an initial term of three years and will automatically renew for successive three-year terms unless one party provides the other notice of their election to terminate 180 days prior to the end of the term. Expenses under this agreement for the three months ended June 30, 2014 and 2013 were $63 thousand and $43 thousand, respectively. Expenses under this agreement for the nine months ended June 30, 2014 and 2013 were $173 thousand and $122 thousand, respectively.
	The Company and Bunge have also entered into certain term and revolving credit facilities. *See Note 5* *Revolving Loan/Credit Agreements* for the terms of these financing arrangements.

	ICM
	On November 1, 2006, in consideration of its agreement to invest $6.0 million in the Company, ICM became the sole Series C Member. As part of ICM’s agreement to invest in Series C Units, the Operating Agreement provides that the Company will not, without ICM’s approval (i) issue additional Series C Units, (ii) create any additional Series of Units with rights senior to the Series C Units, (iii) modify the Operating Agreement to adversely impact the rights of Series C Unit holders, or (iv) repurchase or redeem any Series C Units. Additionally, ICM, as the sole Series C Unit owner, is afforded the right to elect one Series C Director to the Board so long as ICM remains a Series C Member.
	To induce ICM to agree to the ICM Term Note, the Company entered into an equity agreement with ICM (the “ICM Equity Agreement”) on June 17, 2010, whereby ICM (i) retains preemptive rights to purchase new securities in the Company.
	The Company and ICM have also entered into a convertible term note. *See Note 5* *Revolving Loan/Credit Agreements* for the terms of this financing arrangement.

Major_Customers

Major Customers	9 Months Ended
Major Customers	Jun. 30, 2014
Major Customers [Abstract]	'
Major Customers	'
	Major Customer
	The Company is party to the Ethanol, Supply, and Corn Oil Agency Agreements with Bunge for the exclusive marketing, selling, and distributing of all the ethanol, distillers grains, syrup, and corn oil produced by the Company. Revenues with Bunge were $86.3 million and $92.3 million for the three months ended June 30, 2014 and 2013, respectively and were $244.6 million and $241.9 million for the nine months ended June 30, 2014 and 2013, respectively.

Summary_Of_Significant_Account1

Summary Of Significant Accounting Policies (Policy)	9 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Basis Of Presentation And Other Information	'
	Basis of Presentation and Other Information
	The accompanying financial statements as of June 30, 2014 and for the three and nine months ended June 30, 2014 and 2013 are unaudited and reflect all adjustments (consisting only of normal recurring adjustments) which are, in the opinion of management, necessary for a fair presentation of the financial position and operating results for the interim periods. These unaudited financial statements and notes should be read in conjunction with the audited financial statements and notes thereto, for the fiscal year ended September 30, 2013 contained in the Company’s Annual Report on Form 10-K. The results of operations for the interim periods presented are not necessarily indicative of the results for the entire year.
Use Of Estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.
Revenue Recognition	'
	Revenue Recognition
	The Company sells ethanol and related products pursuant to marketing agreements. Revenues are recognized when the marketing company (the “customer”) has taken title to the product, prices are fixed or determinable and collectability is reasonably assured.
	The Company’s products are generally shipped FOB loading point. The Company’s ethanol sales are handled through an ethanol purchase agreement (the “Ethanol Agreement”) with Bunge North America, Inc. (“Bunge”). Syrup and distillers grain (co-products) are sold through a distillers grains agreement (the “DG Agreement”) with Bunge, based on market prices. Corn oil is sold through a corn oil agreement (the “Corn Oil Agency Agreement”) with Bunge based on market prices. Marketing fees, agency fees, and commissions due to the marketer are paid separately from the settlement for the sale of the ethanol products and co-products and are included as a component of cost of goods sold. Shipping and handling costs incurred by the Company for the sale of ethanol and co-products are included in cost of goods sold.
Accounts Receivable	'
	Accounts Receivable
	Trade accounts receivable are recorded at original invoice amounts less an estimate made for doubtful receivables based on a review of all outstanding amounts on a monthly basis. Most of the trade accounts are with Bunge. Management determines the allowance for doubtful accounts by regularly evaluating customer receivables and considering customer’s financial condition, credit history and current economic conditions. As of June 30, 2014 and September 30, 2013, management had determined no allowance was necessary. Receivables are written off when deemed uncollectable and recoveries of receivables written off are recorded when received.
Investment In Commodities Contracts, Derivative Instruments And Hedging Activities	'
	Investment in Commodities Contracts, Derivative Instruments and Hedging Activities
	The Company’s operations and cash flows are subject to fluctuations due to changes in commodity prices. The Company is subject to market risk with respect to the price and availability of corn, the principal raw material used to produce ethanol and ethanol by-products. Exposure to commodity price risk results from the Company’s dependence on corn in the ethanol production process. In general, rising corn prices can result in lower profit margins and, therefore, represent unfavorable market conditions. This is especially true when market conditions do not allow the Company to pass along increased corn costs to customers. The availability and price of corn is subject to wide fluctuations due to unpredictable factors such as weather conditions, farmer planting decisions, governmental policies with respect to agriculture and international trade and global demand and supply.
	To minimize the risk and the volatility of commodity prices, primarily related to corn and ethanol, the Company uses various derivative instruments, including forward corn, ethanol, and distillers grains purchase and sales contracts, over-the-counter and exchange-traded futures and option contracts. From time to time, when market conditions are appropriate and the Company has sufficient working capital available, the Company will enter into derivative contracts to hedge its exposure to price risk related to forecasted corn needs and forward corn purchase contracts. The Company uses cash, futures and options contracts to hedge changes to the commodity prices of corn and ethanol.
	Management has evaluated the Company’s contracts to determine whether the contracts are derivative instruments. Certain contracts that literally meet the definition of a derivative may be exempted from derivative accounting as normal purchases or normal sales. Normal purchases and normal sales are contracts that provide for the purchase or sale of something other than a financial instrument or derivative instrument that will be delivered in quantities expected to be used or sold over a reasonable period in the normal course of business. Gains and losses on contracts designated as normal purchases or normal sales contracts are not recognized until quantities are delivered or utilized in production.
	The Company applies the normal purchase and sale exemption to forward contracts relating to ethanol and distillers grains and solubles and therefore these forward contracts are not marked to market. As of June 30, 2014, the Company was committed to sell 12.1 million gallons of ethanol and 68.1 thousand tons of distillers grains.
	The Company enters into short-term cash, options and futures contracts as a means of managing exposure to changes in commodity prices. The Company enters into derivative contracts to hedge the exposure to volatile commodity price fluctuations. The Company maintains a risk management strategy that uses derivative instruments to minimize significant, unanticipated earnings fluctuations caused by market volatility. The Company’s specific goal is to protect itself from large moves in commodity costs. Although the contracts are intended to be effective economic hedges of specified risks, they are not designated as a hedge for accounting purposes and are recorded on the balance sheet at fair market value with changes in market value recognized in current period earnings.
	Corn purchase contracts are treated as derivative financial instruments. Changes in market value of forward corn contracts, which are marked to market each period, are included in costs of goods sold. As of June 30, 2014, the Company was committed to purchasing 3.6 million bushels of corn on a forward contract basis resulting in a total commitment of $16.7 million.
	In addition the Company was committed to purchasing 1.1 million bushels of corn on basis contracts.
	As part of its trading activity, the Company uses futures and option contracts offered through regulated commodity exchanges to reduce risk and risk of loss in the market value of inventories. To reduce that risk, the Company generally takes positions using cash and futures contracts and options. The gains or losses on derivative instruments are included in revenue if the contracts relate to ethanol, and cost of goods sold if the contracts relate to corn. The Company reports all contracts with the same counter-party on a net basis on the balance sheet due to a master netting agreement.
	Derivatives not designated as hedging instruments along with cash held by brokers at June 30, 2014 and September 30, 2013 at market value are as follows:


		Balance Sheet Classification		June 30, 2014				September 30, 2013

				in 000's				in 000's
	Futures and option contracts
	In gain position			$	626			$	356

	In loss position			(1,962		)		(518		)
	Cash held by broker			2,198				929

		Current asset		862				767



	Forward contracts, corn, related party	Current liability		2,056				493



	Net futures, options, and forward contracts			$	(1,194	)		$	274


	The net realized and unrealized gains and losses on the Company’s derivative contracts for the three and nine months ended June 30, 2014 and 2013 consist of the following (in thousands of dollars):


				Three months ended								Nine months ended
		Statement of Operations Classification		30-Jun-14				June 30, 2013				June 30, 2014				June 30, 2013
	Net realized and unrealized (gains) losses related to:


	Forward purchase contracts (corn)	Cost of Goods Sold		$	2,713			$	(150	)		$	3,873			$	4,559

	Futures and option contracts (corn)	Cost of Goods Sold		$	492			(2,186		)		$	1,669			$	(4,116	)

	Futures and option contracts (ethanol)	Revenue		$	1,146			—				$	1,146			—

Inventory	'
	Inventory
	Inventory is stated at the lower of cost or market value using the average cost method. Market value is based on current replacement values, to the extent that it does not exceed net realizable values and it is not less than the net realizable values reduced by an allowance for normal profit margin.
Net (Loss) Per Unit	'
	Income (loss) Per Unit
	Basic income (loss) per unit is calculated by dividing net income (loss) by the weighted average units outstanding for each period. Diluted income (loss) per unit is calculated by dividing income (loss) adjusted for interest on the convertible debt (when anti-dilutive) by the sum of the weighted average units outstanding and the weighted average dilutive units, using the treasury stock method. Units from convertible term notes are considered unit equivalents and are considered in the diluted income per unit computation, but have not been included in the computations of diluted income (loss) per unit for the nine months ended June 30, 2013, because their effect would be anti-dilutive during those periods. Basic earnings and diluted per unit data were computed as follows (in thousands except per unit data):


		Three Months Ended								Nine Months Ended
		30-Jun-14				30-Jun-13				30-Jun-14				30-Jun-13
	Numerator:
	Net income (loss) for basic earnings per unit	$	5,560			$	1,501			$	35,569			$	(9,606	)

	Interest expense on convertible term note	686				958				2,146				—

	Net income (loss) for diluted earnings per unit	$	6,246			$	2,459			$	37,715			$	(9,606	)


	Denominator:
	Weighted average units outstanding - basic	13,205				13,139				13,164				13,139

	Weighted average units outstanding - diluted	25,234				29,375				25,424				13,139

	Income (loss) per unit - basic	$	421.05			$	114.24			$	2,701.99			$	(731.11	)

	Income (loss) per unit - diluted	$	247.52			$	83.71			$	1,483.44			$	(731.11	)

Fair Value Of Financial Instruments	'
	value of financial instruments
	The carrying amounts of cash and cash equivalents, derivative financial instruments, accounts receivable, accounts payable, and accrued expenses approximate fair value due to the short term nature of these instruments.

Summary_Of_Significant_Account2

Summary Of Significant Accounting Policies (Tables)	9 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block]	'


		Three Months Ended								Nine Months Ended
		30-Jun-14				30-Jun-13				30-Jun-14				30-Jun-13
	Numerator:
	Net income (loss) for basic earnings per unit	$	5,560			$	1,501			$	35,569			$	(9,606	)

	Interest expense on convertible term note	686				958				2,146				—

	Net income (loss) for diluted earnings per unit	$	6,246			$	2,459			$	37,715			$	(9,606	)


	Denominator:
	Weighted average units outstanding - basic	13,205				13,139				13,164				13,139

	Weighted average units outstanding - diluted	25,234				29,375				25,424				13,139

	Income (loss) per unit - basic	$	421.05			$	114.24			$	2,701.99			$	(731.11	)

	Income (loss) per unit - diluted	$	247.52			$	83.71			$	1,483.44			$	(731.11	)

Schedule Of Derivatives Not Designated As Hedging Instruments	'
	Derivatives not designated as hedging instruments along with cash held by brokers at June 30, 2014 and September 30, 2013 at market value are as follows:


		Balance Sheet Classification		June 30, 2014				September 30, 2013

				in 000's				in 000's
	Futures and option contracts
	In gain position			$	626			$	356

	In loss position			(1,962		)		(518		)
	Cash held by broker			2,198				929

		Current asset		862				767



	Forward contracts, corn, related party	Current liability		2,056				493



	Net futures, options, and forward contracts			$	(1,194	)		$	274

Schedule of Derivative Instruments [Table Text Block]	'
	The net realized and unrealized gains and losses on the Company’s derivative contracts for the three and nine months ended June 30, 2014 and 2013 consist of the following (in thousands of dollars):


				Three months ended								Nine months ended
		Statement of Operations Classification		30-Jun-14				June 30, 2013				June 30, 2014				June 30, 2013
	Net realized and unrealized (gains) losses related to:


	Forward purchase contracts (corn)	Cost of Goods Sold		$	2,713			$	(150	)		$	3,873			$	4,559

	Futures and option contracts (corn)	Cost of Goods Sold		$	492			(2,186		)		$	1,669			$	(4,116	)

	Futures and option contracts (ethanol)	Revenue		$	1,146			—				$	1,146			—

Inventory_Tables

Inventory (Tables)	9 Months Ended
	Jun. 30, 2014
Inventory Disclosure [Abstract]	'
Components Of Inventory	'
	Inventory is comprised of the following at:


		June 30, 2014		September 30, 2013
		(000's)		(000's)
	Raw Materials - corn	$	3,001	$	2,607

	Supplies and Chemicals	3,174		2,780

	Work in Process	1,892		2,090

	Finished Goods	4,736		968

	Total	$	12,803	$	8,445

Members_Equity_Capital_Units_b

Members' Equity Capital Units by Class (Tables)	9 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
Schedule of Stockholders Equity [Table Text Block]	'
	At June 30, 2014 outstanding member units were:


	Series A Units Outstanding	8,993

	Series B Units Outstanding	3,334

	Series C Units Outstanding	1,000

	Series U Units Outstanding	—

Notes_Payable_Tables

Notes Payable (Tables)	9 Months Ended
	Jun. 30, 2014
Notes Payable [Abstract]	'
Components Of Notes Payable	'
	Notes payable consists of the following:


		June 30, 2014		September 30, 2013
		(000's)		(000's)
	$300,000 Note payable to IDED, a non-interest bearing obligation with monthly payments of $2,500 due through the maturity date of March 26, 2016 on the non-forgivable portion.	$	197	$	220

	Note payable to affiliate Bunge bearing interest at LIBOR plus 6.25% (6.48260% at June 30, 2014); maturity on July 1, 2023.	19,517		36,765

	Note payable to affiliate ICM bearing interest at LIBOR plus 6.25% (6.48260% at June 30, 2014); maturity on July 1, 2023.	6,727		12,671

	Capital leases payable to AgStar bearing interest at 3.088% matures May 15, 2015.	30		53

	Term facility payable to FSCA bearing interest at LIBOR plus 3.35% (3.50% at June 30, 2014); maturity date of September 20, 2019.	30,000		—

	Term Revolver payable to FSCA bearing interest at LIBOR plus 3.35% (3.50% at June 30, 2014); maturity at June 1, 2023.	10,000		—

	Convertible Notes payable to unit holders was retired or converted May 31, 2014	—		552

	Term facility payable to AgStar was retired June 24, 2014.	—		28,232

	Term facility payable to AgStar was retired June 24, 2014.	—		30,606

	Term revolver payable to AgStar was retired June 24, 2014.	—		10,000

	Revolving line of credit payable to Bunge was retired June 24, 2014.	—		5,000

		66,471		124,099

	Less Current Maturities	4,523		123,887

	Total Long Term Debt	61,948		212

Aggregate Maturities Of Notes Payable	'
	The approximate aggregate maturities of notes payable as of June 30, are as follows:


	2014	$	4,523


	2015	6,052


	2016	6,152


	2017	6,000


	2018	6,000


	2019 and Thereafter	37,744


	Total	$	66,471

Fair_Value_Measurement_Tables

Fair Value Measurement (Tables)	9 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis	'
	The following table summarizes financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2014 and September 30, 2013, categorized by the level of the valuation inputs within the fair value hierarchy:


		June 30, 2014
		Level 1		Level 2		Level 3
	Assets:
	Derivative financial instruments	$	625,638	$	—	$	—



	Liabilities:
	Derivative financial instruments	1,961,813		2,056,281		—



		September 30, 2013
		Level 1		Level 2		Level 3
	Assets:
	Derivative financial instruments	$	355,575	$	—	$	—



	Liabilities:
	Derivative financial instruments	517,525		493,175		—

Nature_Of_Business_Details

Nature Of Business (Details)	9 Months Ended
	Jun. 30, 2014
	gal
Nature Of Business [Abstract]	'
Production, Number Of Gallons	125,000,000

Summary_Of_Significant_Account3

Summary Of Significant Accounting Policies (Narrative) (Details) (USD $)	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
	T		bu
			gal
Summary Of Significant Accounting Policies [Line Items]	'	'	'	'
Allowance for Doubtful Accounts Receivable	$0	$0	$0	$0
Forward Contracts, Corn, Hedged Basis	'	'	3,574,000	'
Production, Number Of Gallons	'	'	125,000,000	'
Sale of ethanol (in gallons)	'	'	12,082,000	'
Debt Instrument, Convertible, Interest Expense	686,000	958,000	2,146,000	0
Net Income (Loss) Available to Common Stockholders, Basic	5,560,000	1,501,000	35,569,000	-9,606,000
Net Income (Loss) Available to Common Stockholders, Diluted	6,246,000	2,459,000	37,715,000	-9,606,000
Weighted Average Number of Shares Outstanding, Basic	13,205	13,139	13,164	13,139
Weighted Average Number of Shares Outstanding, Diluted	25,234	29,375	25,424	13,139
Earnings Per Share, Basic	$421.05	$114.24	$2,701.99	($731.11)
Earnings Per Share, Diluted	$247.52	$83.71	$1,483.44	($731.11)
Sale of distillers, grains, and solubles (in tons)	68,000	'	'	'
Total purchase commitment of corn (in bushels)	'	'	1,113,000	'
Total purchase commitment	'	'	16,695,848	'
Realized & unrealized hedging (gains)	3,205,000	-2,336,000	5,542,000	443,000
Net realized and unrealized (gains) losses	-3,205,000	2,336,000	-5,542,000	-443,000
corn [Member] \| Future And Option Contracts [Member]	'	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'	'
Realized & unrealized hedging (gains)	-492,295	2,186,007	-1,668,737	4,115,509
Net realized and unrealized (gains) losses	492,295	-2,186,007	1,668,737	-4,115,509
ethanol [Member] \| Future And Option Contracts [Member]	'	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'	'
Realized & unrealized hedging (gains)	-1	0	-1,146,092	0
Net realized and unrealized (gains) losses	$1	$0	$1,146,092	$0

Summary_Of_Significant_Account4

Summary Of Significant Accounting Policies (Schedule Of Derivatives Not Designated As Hedging Instruments) (Details) (USD $)	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Sep. 30, 2013
Summary Of Significant Accounting Policies [Line Items]	'	'	'	'	'
Net realized and unrealized (gains) losses	($3,205,000)	$2,336,000	($5,542,000)	($443,000)	'
Derivative Assets	-862,035	'	-862,035	'	-767,409
Derivative Assets (Liabilities), at Fair Value, Net	-1,194,246	'	-1,194,246	'	274,234
In Gain Position [Member]	'	'	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'	'	'
Derivative Assets	'	'	'	'	-355,575
In loss position [Member]	'	'	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'	'	'
Derivative Assets	1,961,813	'	1,961,813	'	517,525
Cash Held By Broker [Member]	'	'	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'	'	'
Derivative Assets	-2,198,210	'	-2,198,210	'	-929,359
Fair Value, Inputs, Level 1 [Member]	'	'	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'	'	'
Derivative Assets	-625,638	'	-625,638	'	-355,575
Derivative Liability	1,961,813	'	1,961,813	'	517,525
corn [Member] \| Future And Option Contracts [Member]	'	'	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'	'	'
Net realized and unrealized (gains) losses	492,295	-2,186,007	1,668,737	-4,115,509	'
corn [Member] \| Forward Contracts [Member]	'	'	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'	'	'
Net realized and unrealized (gains) losses	2,712,825	-149,993	3,873,213	4,559,039	'
Derivative Liability	'	'	'	'	$493,175

Summary_Of_Significant_Account5

Summary Of Significant Accounting Policies (Schedule Of Property And Equipment) (Details) (USD $)	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Property, Plant and Equipment [Line Items]	'	'	'	'
Allowance for Doubtful Accounts Receivable	$0	$0	$0	$0
Gain (Loss) on Derivative Instruments Held for Trading Purposes, Net	-3,205,000	2,336,000	-5,542,000	-443,000
Building [Member]	'	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'	'
Property, Plant and Equipment, Useful Life	'	'	'40 years	'
Process Equipment - Minimum [Member]	'	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'	'
Property, Plant and Equipment, Useful Life	'	'	'10 years	'
Process Equipment - Maximum [Member]	'	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'	'
Property, Plant and Equipment, Useful Life	'	'	'20 years	'
Office Equipment - Minimum [Member]	'	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'	'
Property, Plant and Equipment, Useful Life	'	'	'3 years	'
Office Equipment - Maximum [Member]	'	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'	'
Property, Plant and Equipment, Useful Life	'	'	'7 years	'
ethanol [Member] \| Future And Option Contracts [Member]	'	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'	'
Gain (Loss) on Derivative Instruments Held for Trading Purposes, Net	$1	$0	$1,146,092	$0

Inventory_Components_Of_Invent

Inventory (Components Of Inventory) (Details) (USD $)	Jun. 30, 2014	Sep. 30, 2013
In Thousands, unless otherwise specified	Jun. 30, 2014	Sep. 30, 2013
Inventory Disclosure [Abstract]	'	'
Raw Materials - corn	$3,001	$2,607
Supplies and Chemicals	3,174	2,780
Work in Process	1,892	2,090
Finished Goods	4,736	968
Inventory	$12,803	$8,445

Members_Equity_Narrative_Detai

Members' Equity (Narrative) (Details) (USD $)	9 Months Ended
Members' Equity (Narrative) (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2013	Sep. 30, 2013
Members' capital, units outstanding	13,327	'	'
Interest Paid	$4,425,000	$3,855,000	'
Capital Unit, Class A [Member]	'	'	'
Members' capital, units outstanding	8,993	'	'
Capital Unit, Class B [Member]	'	'	'
Members' capital, units outstanding	3,334	'	'
Capital Unit Class C [Member]	'	'	'
Members' capital, units outstanding	1,000	'	'
Capital Unit Class U [Member]	'	'	'
Members' capital, units outstanding	0	'	'
Convertible Subordinated Debt [Member]	'	'	'
Debt Instrument, Repurchase Amount	25,219	'	'
Debt Conversion, Converted Instrument, Amount	549,000	'	'
Debt Conversion, Converted Instrument, Shares Issued	183	'	'
Interest Paid	$14,994	'	'

Revolving_LoanCredit_Agreement1

Revolving Loan/Credit Agreements (AgStar and Bunge) (Narrative) (Details) (USD $)

9 Months Ended

12 Months Ended

9 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Sep. 30, 2013

Jun. 30, 2014

Sep. 30, 2013

Jun. 30, 2014

Sep. 30, 2013

Jun. 30, 2014

Sep. 30, 2013

Jun. 30, 2014

Sep. 30, 2013

Jun. 30, 2014

Sep. 30, 2013

Capital Leases Payable [Member]

Note Payable - Bunge, N.A. [Member]

Bunge [Member]

Note Payable - ICM (Member)

Bunge [Member]

FSCA [Member]

Agstar [Member]

Debt Instrument [Line Items]

Term Loan

$19,517,137

$30,000,000

Term Revolver, Face Amount

36,000,000

10,000,000

Debt Instrument, Periodic Payment, Principal

1,500,000

Debt Instrument, Periodic Principal Reduction

6,000,000

Secured Debt

126,000,000

Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum

7.50%

6.25%

7.50%

Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum

10.50%

Long-term Debt

66,471,000

124,099,000

101,000,000

Revolving Working Capital facility 1, Face Amount

15,000,000

Revolving Working Capital Facility 2, Amount Outstanding

5,000,000

Convertible Notes, Series U Unit Option, Price

3,000

Debt Instrument, Increase, Accrued Interest

-2,018,000

-1,952,000

24,601

491,957

Variable interest rate

7.90%

6.00%

7.90%

Fixed interest rate

3.09%

Line of Credit Facility, Amount Outstanding

29,558

53,064

19,517,137

36,765,265

6,726,758

12,671,481

40,000,000

68,837,175

Line of Credit Facility, Remaining Borrowing Capacity

26,000,000

Debt Instrument, Description of Variable Rate Basis

'LIBOR plus 7.50 to 10.5%

'LIBOR plus 6.25%

'LIBOR plus 7.50 to 10.5%

'LIBOR

Debt Instrument, Convertible, Terms of Conversion Feature

'fifteen

Debt Instrument, Periodic Payment

$19,922,241

debt instrument, interest rate, stated percentage rate range, minimum, original loan

7.50%

debt instrument, description of variable rate basis, original loan

'LIBOR

Revolving_LoanCredit_Agreement2

Revolving Loan/Credit Agreements (ICM) (Narrative) (Details) (USD $)	3 Months Ended		9 Months Ended			9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Sep. 30, 2013	Jun. 30, 2014	Sep. 30, 2013	Jun. 30, 2014	Sep. 30, 2013	Jun. 30, 2014
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Sep. 30, 2013	ICM [Member]	ICM [Member]	Bunge [Member]	Bunge [Member]	ICM [Member]
Debt Instrument [Line Items]	'	'	'	'	'	'	'	'	'	'
Term Loan	'	'	'	'	'	$6,726,758	'	$19,517,137	'	'
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	'	'	'	'	'	'	'	'	'	6.25%
Debt Instrument, Description of Variable Rate Basis	'	'	'	'	'	'LIBOR	'	'LIBOR	'	'LIBOR plus 6.25%
Convertible Notes, Series U Unit Option, Price	'	'	'	'	'	3,000	'	3,000	'	'
Debt Instrument, Convertible, Terms of Conversion Feature	'	'	'	'	'	'fifteen	'	'fifteen	'	'
Debt Instrument, Periodic Payment	'	'	'	'	'	6,866,381	'	19,922,241	'	'
debt instrument, interest rate, stated percentage rate range, minimum, original loan	'	'	'	'	'	7.50%	'	7.50%	'	'
debt instrument, description of variable rate basis, original loan	'	'	'	'	'	'LIBOR	'	'LIBOR	'	'
Long-term Debt	66,471,000	'	66,471,000	'	124,099,000	'	12,671,481	'	'	'
Accrued interest	'	'	-2,018,000	-1,952,000	'	8,479	169,557	24,601	491,957	'
Gains (Losses) on Extinguishment of Debt	$10,128,000	$0	$10,128,000	$0	'	'	'	'	'	'

Members_Equity_Members_Equity_

Members Equity Members Equity (Details) (Convertible Subordinated Debt [Member], USD $)	Jun. 30, 2014
Convertible Subordinated Debt [Member]	'
Debt Instrument, Convertible, Conversion Price	$3,000

Notes_Payable_Components_Of_No

Notes Payable (Components Of Notes Payable) (Details) (USD $)	9 Months Ended
	Jun. 30, 2014	Sep. 30, 2013
Notes Payable [Line Items]	'	'
Long-term Debt	$66,471,000	$124,099,000
Less current maturities	-4,522,970	-123,887,338
Total long term debt	61,948,000	212,000
ICM [Member]	'	'
Notes Payable [Line Items]	'	'
Term Loan	6,726,758	'
Reference rate	'LIBOR	'
Long-term Debt	'	12,671,481
Bunge [Member]	'	'
Notes Payable [Line Items]	'	'
Term Loan	19,517,137	'
Reference rate	'LIBOR	'
AgStar [Member]	'	'
Notes Payable [Line Items]	'	'
Line of Credit Facility, Amount Outstanding	'	68,837,175
Term Revolver, Face Amount	10,000,000	'
Long-term Debt	101,000,000	'
FSCA [Member]	'	'
Notes Payable [Line Items]	'	'
Line of Credit Facility, Amount Outstanding	40,000,000	'
Term Loan	30,000,000	'
Term Revolver, Face Amount	36,000,000	'
Debt Instrument, Periodic Payment, Principal	1,500,000	'
FSCA - Term Facility [Member]	'	'
Notes Payable [Line Items]	'	'
Reference rate	'LIBOR plus 3.35%	'
Bearing interest rate	3.50%	'
Stated interest rate, minimum	3.35%	'
ICM [Member]	'	'
Notes Payable [Line Items]	'	'
Reference rate	'LIBOR plus 6.25%	'
Bearing interest rate	6.00%	'
Stated interest rate, minimum	6.25%	'
$300,000 Note payable to IDED, a non-interest bearing obligation with monthly payments of $2,500 due through the maturity date of March 26, 2016 on the non-forgivable portion.	'	'
Notes Payable [Line Items]	'	'
Line of Credit Facility, Amount Outstanding	197,499	220,000
Line of Credit Facility, Amount Outstanding	300,000	'
Debt Instrument, Periodic Payment, Principal	2,500	'
Convertible Notes payable to unit holders was retired or converted May 31, 2014	'	'
Notes Payable [Line Items]	'	'
Line of Credit Facility, Amount Outstanding	0	551,941
Reference rate	'LIBOR plus 7.50 to 10.5%	'
Bearing interest rate	7.90%	'
Stated interest rate, minimum	7.50%	'
Stated interest rate, maximum	10.50%	'
Bunge [Member]	'	'
Notes Payable [Line Items]	'	'
Line of Credit Facility, Amount Outstanding	'	36,765,265
Reference rate	'LIBOR plus 6.25%	'
Bearing interest rate	6.00%	'
Stated interest rate, minimum	6.25%	'
Term facility payable to AgStar was retired June 24, 2014.	'	'
Notes Payable [Line Items]	'	'
Line of Credit Facility, Amount Outstanding	0	28,231,518
Reference rate	'LIBOR plus 4.45% with a 6.00% floor	'
Bearing interest rate	6.00%	'
Stated interest rate, minimum	4.45%	'
Stated interest rate, maximum	6.00%	'
Term facility payable to AgStar was retired June 24, 2014.	'	'
Notes Payable [Line Items]	'	'
Line of Credit Facility, Amount Outstanding	0	30,605,657
Fixed interest rate	6.00%	'
Term revolver payable to AgStar was retired June 24, 2014.	'	'
Notes Payable [Line Items]	'	'
Line of Credit Facility, Amount Outstanding	0	10,000,000
Reference rate	'LIBOR plus 4.45% with a 6.00% floor	'
Bearing interest rate	6.00%	'
Stated interest rate, minimum	4.45%	'
Stated interest rate, maximum	6.00%	'
FSCA [Member]	'	'
Notes Payable [Line Items]	'	'
Term Loan	30,000,000	0
Term Revolver, Face Amount	10,000,000	0
Revolving line of credit payable to Bunge was retired June 24, 2014.	'	'
Notes Payable [Line Items]	'	'
Line of Credit Facility, Amount Outstanding	$0	$5,000,000
Reference rate	'LIBOR plus 7.50 to 10.5% with a floor of 3.00%	'
Bearing interest rate	7.90%	'
Stated interest rate, minimum	7.50%	'
Stated interest rate, maximum	10.50%	'
Debt Instrument, Interest Rate, Slated Percentage Rate Range, Floor	3.00%	'
Revolving Line of Credit - AgStar [Member]	'	'
Notes Payable [Line Items]	'	'
Reference rate	'LIBOR plus 4.45% with a floor of 6.00%	'
Bearing interest rate	6.00%	'
Stated interest rate, minimum	4.45%	'
Stated interest rate, maximum	6.00%	'
FSCA - Term Revolver [Member]	'	'
Notes Payable [Line Items]	'	'
Reference rate	'LIBOR plus 3.35%	'
Bearing interest rate	4.00%	'
Stated interest rate, minimum	3.35%	'

Notes_Payable_Aggregate_Maturi

Notes Payable (Aggregate Maturities Of Notes Payable) (Details) (USD $)	Jun. 30, 2014	Sep. 30, 2013
In Thousands, unless otherwise specified	Jun. 30, 2014	Sep. 30, 2013
Debt Disclosure [Abstract]	'	'
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	$4,523	'
Long-term Debt, Maturities, Repayments of Principal in Year Two	6,052	'
Long-term Debt, Maturities, Repayments of Principal in Year Three	6,152	'
Long-term Debt, Maturities, Repayments of Principal in Year Four	6,000	'
Long-term Debt, Maturities, Repayments of Principal in Year Five	6,000	'
Long-term Debt, Maturities, Repayments of Principal after Year Five	37,744	'
Total	$66,471	$124,099

Fair_Value_Measurement_Financi

Fair Value Measurement (Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) (USD $)	Jun. 30, 2014	Sep. 30, 2013
Derivative [Line Items]	'	'
Derivative Assets	$862,035	$767,409
Level 1 [Member]	'	'
Derivative [Line Items]	'	'
Derivative Assets	625,638	355,575
Liabilities: Derivative financial instruments	1,961,813	517,525
Level 2 [Member]	'	'
Derivative [Line Items]	'	'
Derivative Assets	0	0
Liabilities: Derivative financial instruments	2,056,281	493,175
Level 3 [Member]	'	'
Derivative [Line Items]	'	'
Derivative Assets	0	0
Liabilities: Derivative financial instruments	$0	$0

Related_Party_Transactions_Bun

Related Party Transactions (Bunge) (Narrative) (Details) (USD $)	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Related Party Transaction [Line Items]	'	'	'	'
Agreement period	'	'	'120 months	'
Bunge [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Investment from related parties	'	'	$20,004,000	'
Related Party Transaction, Expenses from Transactions with Related Party	'	'	0	'
Number Of Railcars, Recalled	'	'	25	'
Agreement period	'	'	'10 years	'
Related Party Renewal Period	'	'	'3 years	'
Related Party Renewal Period	'	'	'3 years	'
Agreement Cancellation Notice, Period	'	'	'180 days	'
number of railcars, subleased	'	'	200	'
Minimum annual fee (per-gallon fee for ethanol sold)	'	'	750,000	'
Ethanol Agreement [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Related Party Renewal Period	'	'	'3 years	'
Related Party Renewal Period	'	'	'3 years	'
Agreement Cancellation Notice, Period	'	'	'180 days	'
Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party	350,765	397,266	1,048,627	1,019,779
Risk Management Services Agreement [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Investment from related parties	'	'	'	225,000
Related Party Transaction, Expenses from Transactions with Related Party	75,000	75,000	225,000	'
Ethanol Cars [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Number of railcars	'	'	325	'
Hopper Cars [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Number of railcars	'	'	300	'
Unrelated Party [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Number of railcars	'	'	55	'
Railcar Agreement [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party	845,841	1,093,931	2,545,543	3,290,430
DG Agreement [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party	508,987	600,398	1,509,671	1,695,470
Minimum yearly payment (marketing fee consisting of a percentage of net sales price)	'	'	150,000	'
Supply Agreement [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Agreement period	'	'	'10 years	'
Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party	332,605	330,413	992,946	862,172
Minimum annual fee for corn procured	'	'	675,000	'
Corn Oil Agency Agreement [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Agreement period	'	'	'3 years	'
Related Party Renewal Period	'	'	'3 years	'
Related Party Renewal Period	'	'	'3 years	'
Agreement Cancellation Notice, Period	'	'	'180 days	'
Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party	$63,023	$43,091	$173,000	$122,000

Related_Party_Transactions_ICM

Related Party Transactions (ICM) (Narrative) (Details) (ICM [Member], USD $)	9 Months Ended
	Jun. 30, 2014
ICM [Member]	'
Related Party Transaction [Line Items]	'
Investment from related parties	$6,000,000

Major_Customers_Details

Major Customers (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Major Customers [Line Items]	'	'	'	'
Revenues	$88,158	$94,472	$251,315	$247,996
Bunge [Member]	'	'	'	'
Major Customers [Line Items]	'	'	'	'
Revenues	$86,300	$92,300	$244,600	$241,900