Southwest Iowa Renewable Energy (SWIOU) 10-Q 14 Feb 19 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Dec. 31, 2018	Sep. 30, 2018
Document Information [Line Items]
Capital Units, Outstanding	13,327	13,327
Entity Registrant Name	SOUTHWEST IOWA RENEWABLE ENERGY, LLC
Entity Central Index Key	1,424,844
Current Fiscal Year End Date	--09-30
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Document Type	10-Q
Entity Emerging Growth Company	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Capital Unit, Class A [Member]
Document Information [Line Items]
Capital Units, Outstanding	8,993
Capital Unit, Class B [Member]
Document Information [Line Items]
Capital Units, Outstanding	3,334
Capital Unit Class C [Member]
Document Information [Line Items]
Capital Units, Outstanding	1,000
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 ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018
Current Assets
Cash and cash equivalents	$ 1,042	$ 1,440
Accounts receivable	992	1,135
Accounts receivable, related party	8,917	11,537
Derivative financial instruments	395	1,046
Inventory	13,650	13,526
Prepaid expenses and other	769	341
Total current assets	25,765	29,025
Property, Plant, and Equipment
Land	2,064	2,064
Plant, building and equipment	230,237	229,813
Office and other equipment	1,625	1,625
Total Cost	233,926	233,502
Accumulated depreciation	(124,212)	(121,634)
Net property and equipment	109,714	111,868
Other Assets
Other assets	1,738	1,738
Total Assets	137,217	142,631
Current Liabilities
Accounts payable	9,467	3,183
Accounts payable, related parties	194	18
Derivative Instruments and Hedges, Liabilities	576	1,567
Accrued expenses	6,289	6,778
Accrued expenses, related parties	584	601
Long-term Debt, Current Maturities	5,065	6,560
Total current liabilities	22,175	18,707
Long Term Liabilities
Long-term Debt, Excluding Current Maturities	7,618	15,333
Other long-term liabilities	5,400	5,400
Total long term liabilities	13,018	20,733
Members' Equity
Members' capital, 13,139 Units issued and outstanding	87,165	87,165
Accumulated profit (deficit)	14,859	16,026
Total members' equity	102,024	103,191
Total Liabilities and Members' Equity	$ 137,217	$ 142,631

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2018	Sep. 30, 2018
Statement of Financial Position [Abstract]
Accumulated Amortization, Deferred Finance Costs	$ 17,862	$ 71,449
Members' capital, units outstanding	13,327	13,327

Statements Of Operations

Statements Of Operations - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Revenues	$ 53,382	$ 50,546
Cost of goods sold-non hedging	53,374	45,742
Gain (Loss) on Derivative Instruments Held for Trading Purposes, Net	496	(2,096)
Cost of Goods and Services Sold	52,878	47,838
Gross Margin	504	2,708
General and administrative expenses	1,502	1,378
Operating Income	(998)	1,330
Other Income (Expense)
Other (Income) Expense	169	149
Net Income (Loss) Available to Common Stockholders, Basic	$ (1,167)	$ 1,181

Statement of Members' Equity St

Statement of Members' Equity Statement - USD ($) $ in Thousands	Total	Members' Contribution [Member]	Retained Earnings [Member]	Numerator [Member]Retained Earnings [Member]
Members' Capital		$ 87,165
Retained Earnings (Accumulated Deficit)			$ 24,826
Stockholders' Equity Attributable to Parent	$ 111,991
Net Income (Loss) Attributable to Parent	1,181	0
Net Income (Loss) Available to Common Stockholders, Basic	1,181
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Paid	(6,663)	0	6,663
Members' Capital		87,165
Retained Earnings (Accumulated Deficit)			19,344
Stockholders' Equity Attributable to Parent	106,509
Members' Capital		87,165
Retained Earnings (Accumulated Deficit)	16,026		16,026
Stockholders' Equity Attributable to Parent	103,191
Net Income (Loss) Attributable to Parent	1,167	0
Net Income (Loss) Available to Common Stockholders, Basic	(1,167)			$ (1,167)
Members' Capital		$ 87,165
Retained Earnings (Accumulated Deficit)	14,859		$ 14,859
Stockholders' Equity Attributable to Parent	$ 102,024

Condensed Statements Of Cash Fl

Condensed Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash Flows From Operating Activities
Net Income (Loss) Available to Common Stockholders, Basic	$ (1,167)	$ 1,181
Adjustments to reconcile net (loss) to net cash provided by operating activities:
Depreciation	2,578	3,217
Amortization	18	18
Increase (Decrease) in Other Operating Assets and Liabilities, Net	0	42
(Increase) decrease in current assets:
Accounts receivable	2,763	1,694
Inventories	(124)	38
Prepaid expenses and other	(428)	(399)
Increase (Decrease) in Derivative Assets	651	(341)
Increase (decrease) in current liabilities:
Accounts payable	6,460	3,934
Derivative Liability	(991)	(414)
Accrued expenses	(506)	(508)
Net Cash Provided by (Used in) Operating Activities	9,254	8,462
Cash Flows From Investing Activities
Purchase of property and equipment	(424)	(228)
Net Cash Provided by (Used in) Investing Activities	(424)	(228)
Cash Flows From Financing Activities
Proceeds from notes payable	22,876	0
Payments on borrowings	(32,104)	(7,232)
Net cash (used in) financing activities	(9,228)	(7,232)
Cash and Cash Equivalents, Period Increase (Decrease)	(398)	1,002
Cash And Equivalents-Beginning	1,440	1,487
Cash And Equivalents-Ending	1,042	2,489
Supplemental Cash Flow Information [Abstract]
Cash paid for interest	187	212
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Declared	$ 0	$ 6,663

Nature Of Business

Nature Of Business	3 Months Ended
	Dec. 31, 2018
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 140 million

Inventory

Inventory	3 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
Inventory	Inventory Inventory is comprised of the following: December 31, 2018 September 30, 2018 (000's) (000's) Raw Materials - corn $ 3,336 $ 4,095 Supplies and Chemicals 4,857 4,747 Work in Process 1,718 1,421 Finished Goods 3,739 3,263 Total $ 13,650 $ 13,526

Revolving Loan_Credit Agreement

Revolving Loan/Credit Agreements	3 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Revolving Loan/Credit Agreements	Revolving Loan/Credit Agreements FCSA/CoBank The Company has 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 original amount of $30.0 million (the “ Term Loan ”) and a revolving term loan in the original amount of up to $36.0 million (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 quarterly payments by the Company to FCSA of $1.5 million, 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 $6.0 million each June 1 commencing on June 1, 2020. Under the FCSA Credit Facility, the Company has the right to select from several LIBOR based interest rate options with respect to each of the Term Loan and the Revolving Term Loan. As of December 31, 2018 , there was $30.7 million available under the Revolving Term Loan. Notes payable Notes payable consists of the following: December 31, 2018 September 30, 2018 (000's) (000's) Term Loan bearing interest at LIBOR plus 3.35% (5.86% at December 31, 2018) $ 4,500 $ 6,000 Revolving Term Loan bearing interest at LIBOR plus 3.35% (5.86% at December 31, 2018) 5,305 12,894 Other debt with interest rates ranging from 3.50% to 4.15% and maturities through 2022 2,991 3,129 12,796 22,023 Less Current Maturities 5,065 6,560 Less Financing Costs, net of amortization 113 130 Total Long Term Debt 7,618 15,333 The approximate aggregate maturities of notes payable as of December 31, 2018 are as follows: 2019 $ 5,065 2020 581 2021 595 2022 1,250 2023 5,305 Total $ 12,796

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurement	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. Put Option liability . The put option liability consists of an agreement between the Company and ICM that contains a conditional obligation to repurchase feature. In accordance with accounting for put options as a liability, the Company calculated the fair value of the put option under Level 3, using a Monte Carlo Simulation model. 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 2 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 December 31, 2018 and September 30, 2018 , categorized by the level of the valuation inputs within the fair value hierarchy (in '000s): December 31, 2018 Level 1 Level 2 Level 3 Assets: Derivative financial instruments $ 247 $ — $ — Liabilities: Derivative financial instruments 11 576 — Put option liability — — 5,400 September 30, 2018 Level 1 Level 2 Level 3 Assets: Derivative financial instruments $ 583 $ — $ — Liabilities: Derivative financial instruments 82 1,567 — Put option liability — — 5,400 The following table summarizes the assumptions used in computing the fair value of the put options subject to fair value accounting at December 31, 2018 and September 30, 2018 December 31, 2018 September 30, 2018 Put option assumptions: Risk-free interest rate 2.57 % 2.57 % Expected volatility 22 % 22 % Expected life (years) 1.25 1.25 Exercise price $10,897 $10,897 Company unit price $5,500 $5,500 The following table reflects the activity for liabilities measured at fair value using Level 3 inputs during the three months ended December 31, 2018 and for Fiscal 2018 that ended September 30, 2018 : December 31, 2018 September 30, 2018 Beginning Balance $ 5,400 $ 5,700 Change in Value — (300 ) Ending Balance $ 5,400 $ 5,400

Related Party Transactions

Related Party Transactions	3 Months Ended
	Dec. 31, 2018
Related Party Transaction, Due from (to) Related Party [Abstract]
Related Party Transactions	Related Party Transactions Bunge Under the Ethanol Agreement, the Company sells Bunge all of the ethanol produced by the Company, and Bunge purchases the same. The Company pays Bunge a percentage fee for ethanol sold by Bunge, subject to a minimum and maximum annual fee. The initial term of the Ethanol Agreement expires on December 31, 2019, however it will automatically renew for one five-year term unless Bunge provides the Company with notice of election not to renew no later than 180 days prior to the expiration of the initial term. The Company incurred ethanol marketing expenses of $0.4 million during both of the three months ended December 31, 2018 and 2017 under the Ethanol Agreement. Under the DG Purchase Agreement, Bunge purchases all distillers grains produced by the Company, and receives a fee based on the net sale price of distillers grains, subject to a minimum and maximum annual fee. The initial term of the DG Purchase Agreement expires on December 31, 2019 and will automatically renew for one additional five year term unless Bunge provides the Company with notice of election not to renew no later than 180 days prior to the expiration of the initial term. The Company incurred distillers grains marketing expenses of $0.3 million during both of the three months ended December 31, 2018 and 2017 , respectively. The Company and Bunge entered into an Amended and Restated Grain Feedstock Agency Agreement on December 5, 2014 (the “ Agency Agreement ”). The Agency Agreement provides that Bunge procure corn for the Company and that the Company pay Bunge a per bushel fee, subject to a minimum and maximum annual fee. The initial term of the Agency Agreement expires on December 31, 2019 and will automatically renew for one additional five year term unless Bunge provides the Company with notice of election not to renew no later than 180 days prior to the expiration of the initial term. Expenses for corn procurement by Bunge were $0.2 million during both of the three months ended December 31, 2018 and 2017 . Starting with the 2015 crop year, the Company began using corn containing Syngenta Seeds, Inc.’s proprietary Enogen® technology (“ Enogen Corn ”) for a portion of its ethanol production needs. The Company contracts directly with growers to produce Enogen Corn for sale to the Company. The Company has contracted for 25,500 acres of Enogen corn for the fiscal year ending September 30, 2019 (" Fiscal 2019 "). Concurrent with the Agency Agreement, the Company and Bunge entered into a Services Agreement regarding Enogen Corn purchases (the “ Services Agreement ”). Under this Services Agreement, the Company originates all Enogen Corn contracts for its facility and Bunge assists the Company with certain administrative matters related to Enogen Corn, including facilitating delivery to the facility. The Company pays Bunge a per bushel service fee. The initial term of the Services Agreement expires on December 31, 2019 and will automatically renew for one additional five year term unless Bunge provides the Company with notice of election not to renew no later than 180 days prior to the expiration of the initial term. Expenses under the Services Agreement are included as part of the Amended and Restated Grain Feedstock Agency Agreement discussed above. 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. In November of 2016, the Company reduced the number of leased ethanol cars to 323 . In both November 2013 and January 2015 the Company reduced the number of hopper cars by one for a total of 298 leased hopper cars. 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. On November 1, 2016, the agreement was amended to provide for 96 hopper cars to be side-leased back to Bunge. Expenses under the Railcar Agreement were $0.9 million and $1.0 million for the three months ended December 31, 2018 and 2017 , respectively, net of subleases and accretion. The Company has subleased 92 hopper cars to two unrelated third parties, which sublease expires March 25, 2019. In June 2018, one of the third party customers entered into an assignment agreement for their 52 hopper cars with the Company and Bunge which was phased in over the fourth quarter of Fiscal 2018, and was predominantly implemented during the first quarter of Fiscal 2019. The Company received an up front assignmentpayment, and the net result will be financially neutral, and the number of side-leased railcars by the Company remains the same. The Company will continue to work with Bunge to determine the need for ethanol and hopper cars in light of current market conditions, and the expected conditions in Fiscal 2019 and future fiscal years. ICM In connection with the payoff of the ICM subordinated debt, the Company entered into the SIRE ICM Unit Agreement dated December 17, 2014 (the “ Unit Agreement ”). Under the Unit Agreement, the Company granted ICM the right to sell to the Company its 1,000 Series C and 18 Series A Membership Units (the “ ICM Units ”) commencing anytime during the earliest of several alternative dates and events at the greater of $10,897

Major Customers

Major Customers	3 Months Ended
	Dec. 31, 2018
Major Customers [Abstract]
Major Customers	Major Customer The Company is party to the Ethanol and Distillers Grain Purchase Agreements with Bunge for the exclusive marketing, selling, and distributing of all the ethanol, distillers grains, and syrup produced by the Company. Revenues from Bunge were $50.3 million and $47.8 million for the three months ended December 31, 2018 and 2017

Summary Of Significant Accounti

Summary Of Significant Accounting Policies (Policy)	3 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Other Information The accompanying financial statements are as of and for the three months ended December 31, 2018 and 2017 , and 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, 2018 (" Fiscal 2018 ") 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 adopted Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) on October 1, 2018. Under the ASU, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the considerations the entity expects to receive in exchange for those goods or services, In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from the contracts with customers. The Company applied the five-step method outlined in the ASU to all contracts with customers, and elected the modified retrospective implementation method. The new revenue standard did not have an impact on the Company's financial statements. The Company sells ethanol and related products pursuant to marketing agreements. Revenues are recognized when the marketing company has taken title to the product, prices are fixed or determinable and collectability is reasonably assured. The Company’s products are generally shipped Free on Board ("FOB") shipping point, and recorded as a sale upon delivery of the applicable bill of lading. The Company’s ethanol sales are handled through an ethanol purchase agreement (the “ Ethanol Agreement ”) with Bunge North America, Inc. (“ Bunge ”). Syrup and distillers grains (co-products) are sold through a distillers grains agreement (the “ DG Agreement ”) with Bunge, based on market prices. The Company markets and distributes all of the corn oil it produces directly to end users at market prices. Carbon dioxide is sold through a Carbon Dioxide Purchase and Sale Agreement (the “ CO2 Agreemen t”) with Air Products and Chemicals, Inc. Marketing fees, agency fees, and commissions due to the marketer are calculated 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 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 accounts receivable are with Bunge. Management determines the allowance for doubtful accounts by regularly evaluating customer receivables and considering the customer’s financial condition, credit history and current economic conditions. As of December 31, 2018 and September 30, 2018 , management had determined no allowance was necessary. Accounts 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 significant 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 its dependence on corn in the ethanol production process. In general, rising corn prices 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. When the Company has sufficient working capital available, it enters into derivative contracts to hedge its exposure to price risk related to forecasted corn needs and forward corn purchase contracts. 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 that are designated as normal purchases or normal sales contracts are not recognized until quantities are delivered or utilized in production. The Company applies the normal sale exemption to forward contracts relating to ethanol, distillers grains, and corn oil and therefore these forward contracts are not marked to market. As of December 31, 2018 , the Company had no open contracts for ethanol, 0.1 million tons of wet and dried distillers grains and 4.7 million pounds of corn oil. 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 December 31, 2018 , the Company was committed to purchasing 2.8 million bushels of corn on a forward contract basis resulting in a total commitment of $10.5 million . In addition, the Company was committed to purchase 2.5 million bushels of corn on basis contracts. In addition, 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. All derivatives are designated as non-hedge derivatives and the contracts will be accounted for at fair value. Although the contracts will be effective economic hedges of specified risks, they are not designated as and accounted for as hedging instruments. Derivatives not designated as hedging instruments along with cash held by brokers at December 31, 2018 and September 30, 2018 at market value are as follows: Balance Sheet Classification December 31, 2018 September 30, 2018 in 000's in 000's Futures and option contracts In gain position $ 247 $ 583 In loss position (11 ) (82 ) Cash due to broker 159 545 Current asset 395 1,046 Forward contracts, corn 576 1,567 Current liability 576 1,567 Net futures, options, and forward contracts $ (181 ) $ (521 ) The net realized and unrealized gains and losses on the Company’s derivative contracts for the three months ended December 31, 2018 and 2017 consist of the following: Three Months Ended Statement of Operations Classification December 31, 2018 December 31, 2017 in 000's in 000's Net realized and unrealized (gains) losses related to: Forward purchase corn contracts Cost of Goods Sold $ (477 ) $ 2,362 Futures and option corn contracts Cost of Goods Sold (19 ) (266 ) Inventory Inventory is stated at the lower of weighted average cost or net realizable value. In the valuation of inventories and purchase commitments, net realizable value is defined as estimated selling price in the ordinary course of business less reasonable predictable costs of completion, disposal and transportation. Put Option liability The put option liability consists of an agreement between the Company and ICM, Inc. that contains a conditional obligation to repurchase feature. In accordance with accounting for put options as a liability, the Company calculated the fair value of the put option under Level 3, using a valuation model called the Monte Carlo Simulation. Using this model, the estimated value did not change significantly from September 30, 2018 to December 31, 2018 . Income Per Unit Basic income per unit is calculated by dividing net income by the weighted average units outstanding for each period. Basic earnings and diluted per unit data were computed as follows (in thousands except per unit data): Three Months Ended December 31, 2018 December 31, 2017 Numerator: Net income (loss) for basic earnings per unit $ (1,167 ) $ 1,181 Net income (loss) for diluted earnings per unit $ (1,167 ) $ 1,181 Denominator: Weighted average units outstanding - basic 13,327 13,327 Weighted average units outstanding - diluted 13,327 14,386 Income (loss) per unit - basic $ (87.57 ) $ 88.62 Income (loss) per unit - diluted $ (87.57 ) $ 82.09 Recently Issued Accounting Pronouncements Leases In February 2016, FASB issued ASU 2016-02 "Leases” (" ASU 2016-02
Basis Of Presentation And Other Information	Basis of Presentation and Other Information The accompanying financial statements are as of and for the three months ended December 31, 2018 and 2017 , and 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, 2018 (" Fiscal 2018
Use Of Estimates	Use of EstimatesThe 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 adopted Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) on October 1, 2018. Under the ASU, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the considerations the entity expects to receive in exchange for those goods or services, In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from the contracts with customers. The Company applied the five-step method outlined in the ASU to all contracts with customers, and elected the modified retrospective implementation method. The new revenue standard did not have an impact on the Company's financial statements. The Company sells ethanol and related products pursuant to marketing agreements. Revenues are recognized when the marketing company has taken title to the product, prices are fixed or determinable and collectability is reasonably assured. The Company’s products are generally shipped Free on Board ("FOB") shipping point, and recorded as a sale upon delivery of the applicable bill of lading. The Company’s ethanol sales are handled through an ethanol purchase agreement (the “ Ethanol Agreement ”) with Bunge North America, Inc. (“ Bunge ”). Syrup and distillers grains (co-products) are sold through a distillers grains agreement (the “ DG Agreement ”) with Bunge, based on market prices. The Company markets and distributes all of the corn oil it produces directly to end users at market prices. Carbon dioxide is sold through a Carbon Dioxide Purchase and Sale Agreement (the “ CO2 Agreemen
Accounts Receivable	Accounts Receivable 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 accounts receivable are with Bunge. Management determines the allowance for doubtful accounts by regularly evaluating customer receivables and considering the customer’s financial condition, credit history and current economic conditions. As of December 31, 2018 and September 30, 2018 , management had determined no
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 significant 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 its dependence on corn in the ethanol production process. In general, rising corn prices 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. When the Company has sufficient working capital available, it enters into derivative contracts to hedge its exposure to price risk related to forecasted corn needs and forward corn purchase contracts. 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 that are designated as normal purchases or normal sales contracts are not recognized until quantities are delivered or utilized in production. The Company applies the normal sale exemption to forward contracts relating to ethanol, distillers grains, and corn oil and therefore these forward contracts are not marked to market. As of December 31, 2018 , the Company had no open contracts for ethanol, 0.1 million tons of wet and dried distillers grains and 4.7 million pounds of corn oil. 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 December 31, 2018 , the Company was committed to purchasing 2.8 million bushels of corn on a forward contract basis resulting in a total commitment of $10.5 million . In addition, the Company was committed to purchase 2.5 million bushels of corn on basis contracts. In addition, 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. All derivatives are designated as non-hedge derivatives and the contracts will be accounted for at fair value. Although the contracts will be effective economic hedges of specified risks, they are not designated as and accounted for as hedging instruments. Derivatives not designated as hedging instruments along with cash held by brokers at December 31, 2018 and September 30, 2018 at market value are as follows: Balance Sheet Classification December 31, 2018 September 30, 2018 in 000's in 000's Futures and option contracts In gain position $ 247 $ 583 In loss position (11 ) (82 ) Cash due to broker 159 545 Current asset 395 1,046 Forward contracts, corn 576 1,567 Current liability 576 1,567 Net futures, options, and forward contracts $ (181 ) $ (521 ) The net realized and unrealized gains and losses on the Company’s derivative contracts for the three months ended December 31, 2018 and 2017 consist of the following: Three Months Ended Statement of Operations Classification December 31, 2018 December 31, 2017 in 000's in 000's Net realized and unrealized (gains) losses related to: Forward purchase corn contracts Cost of Goods Sold $ (477 ) $ 2,362 Futures and option corn contracts Cost of Goods Sold (19 ) (266 )
Inventory	InventoryInventory is stated at the lower of weighted average cost or net realizable value. In the valuation of inventories and purchase commitments, net realizable value is defined as estimated selling price in the ordinary course of business less reasonable predictable costs of completion, disposal and transportation.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Put Option liability The put option liability consists of an agreement between the Company and ICM, Inc. that contains a conditional obligation to repurchase feature. In accordance with accounting for put options as a liability, the Company calculated the fair value of the put option under Level 3, using a valuation model called the Monte Carlo Simulation. Using this model, the estimated value did not change significantly from September 30, 2018 to December 31, 2018
Net (Loss) Per Unit	Income Per Unit Basic income per unit is calculated by dividing net income by the weighted average units outstanding for each period. Basic earnings and diluted per unit data were computed as follows (in thousands except per unit data): Three Months Ended December 31, 2018 December 31, 2017 Numerator: Net income (loss) for basic earnings per unit $ (1,167 ) $ 1,181 Net income (loss) for diluted earnings per unit $ (1,167 ) $ 1,181 Denominator: Weighted average units outstanding - basic 13,327 13,327 Weighted average units outstanding - diluted 13,327 14,386 Income (loss) per unit - basic $ (87.57 ) $ 88.62 Income (loss) per unit - diluted $ (87.57 ) $ 82.09
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Pronouncements Leases In February 2016, FASB issued ASU 2016-02 "Leases” (" ASU 2016-02

Summary Of Significant Accoun_2

Summary Of Significant Accounting Policies (Tables)	3 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Schedule Of Derivatives Not Designated As Hedging Instruments	Derivatives not designated as hedging instruments along with cash held by brokers at December 31, 2018 and September 30, 2018 at market value are as follows: Balance Sheet Classification December 31, 2018 September 30, 2018 in 000's in 000's Futures and option contracts In gain position $ 247 $ 583 In loss position (11 ) (82 ) Cash due to broker 159 545 Current asset 395 1,046 Forward contracts, corn 576 1,567 Current liability 576 1,567 Net futures, options, and forward contracts $ (181 ) $ (521 )
Schedule of Derivative Instruments [Table Text Block]	The net realized and unrealized gains and losses on the Company’s derivative contracts for the three months ended December 31, 2018 and 2017 consist of the following: Three Months Ended Statement of Operations Classification December 31, 2018 December 31, 2017 in 000's in 000's Net realized and unrealized (gains) losses related to: Forward purchase corn contracts Cost of Goods Sold $ (477 ) $ 2,362 Futures and option corn contracts Cost of Goods Sold (19 ) (266 )
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block]	Three Months Ended December 31, 2018 December 31, 2017 Numerator: Net income (loss) for basic earnings per unit $ (1,167 ) $ 1,181 Net income (loss) for diluted earnings per unit $ (1,167 ) $ 1,181 Denominator: Weighted average units outstanding - basic 13,327 13,327 Weighted average units outstanding - diluted 13,327 14,386 Income (loss) per unit - basic $ (87.57 ) $ 88.62 Income (loss) per unit - diluted $ (87.57 ) $ 82.09

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
Components Of Inventory	Inventory is comprised of the following: December 31, 2018 September 30, 2018 (000's) (000's) Raw Materials - corn $ 3,336 $ 4,095 Supplies and Chemicals 4,857 4,747 Work in Process 1,718 1,421 Finished Goods 3,739 3,263 Total $ 13,650 $ 13,526

Revolving Loan_Credit Agreeme_2

Revolving Loan/Credit Agreements Debt Maturities (Tables)	3 Months Ended
	Dec. 31, 2018
Debt Instrument [Line Items]
Schedule of Long-term Debt Instruments [Table Text Block]	Notes payable consists of the following: December 31, 2018 September 30, 2018 (000's) (000's) Term Loan bearing interest at LIBOR plus 3.35% (5.86% at December 31, 2018) $ 4,500 $ 6,000 Revolving Term Loan bearing interest at LIBOR plus 3.35% (5.86% at December 31, 2018) 5,305 12,894 Other debt with interest rates ranging from 3.50% to 4.15% and maturities through 2022 2,991 3,129 12,796 22,023 Less Current Maturities 5,065 6,560 Less Financing Costs, net of amortization 113 130 Total Long Term Debt 7,618 15,333
Schedule of Maturities of Long-term Debt [Table Text Block]	The approximate aggregate maturities of notes payable as of December 31, 2018 are as follows: 2019 $ 5,065 2020 581 2021 595 2022 1,250 2023 5,305 Total $ 12,796

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	The following table reflects the activity for liabilities measured at fair value using Level 3 inputs during the three months ended December 31, 2018 and for Fiscal 2018 that ended September 30, 2018 : December 31, 2018 September 30, 2018 Beginning Balance $ 5,400 $ 5,700 Change in Value — (300 ) Ending Balance $ 5,400 $ 5,400
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 December 31, 2018 and September 30, 2018 , categorized by the level of the valuation inputs within the fair value hierarchy (in '000s): December 31, 2018 Level 1 Level 2 Level 3 Assets: Derivative financial instruments $ 247 $ — $ — Liabilities: Derivative financial instruments 11 576 — Put option liability — — 5,400 September 30, 2018 Level 1 Level 2 Level 3 Assets: Derivative financial instruments $ 583 $ — $ — Liabilities: Derivative financial instruments 82 1,567 — Put option liability — — 5,400
Financial Instruments Subject to Mandatory Redemption Disclosure [Table Text Block]	The following table summarizes the assumptions used in computing the fair value of the put options subject to fair value accounting at December 31, 2018 and September 30, 2018 December 31, 2018 September 30, 2018 Put option assumptions: Risk-free interest rate 2.57 % 2.57 % Expected volatility 22 % 22 % Expected life (years) 1.25 1.25 Exercise price $10,897 $10,897 Company unit price $5,500 $5,500

Nature Of Business (Details)

Nature Of Business (Details) gal in Millions	3 Months Ended
	Dec. 31, 2018gal
Nature Of Business [Abstract]
Production, Number Of Gallons	140

Summary Of Significant Accoun_3

Summary Of Significant Accounting Policies (Narrative) (Details) $ / shares in Units, lb in Millions, gal in Millions, bu in Millions, T in Millions	3 Months Ended
	Dec. 31, 2018USD ($)Tlb$ / sharessharesbugal	Dec. 31, 2017USD ($)$ / sharesshares	Sep. 30, 2018USD ($)
Summary Of Significant Accounting Policies [Line Items]
Total Commitment to Sale of Ethanol (gallons) | gal	0
Allowance for Doubtful Accounts Receivable	$ 0		$ 0
Sale of distillers, grains, and solubles (in tons) | T	0.1
Derivative Assets (Liabilities), at Fair Value, Net	$ (181,000)		(521,000)
Realized & unrealized hedging (gains)	(496,000)	$ 2,096,000
Net Income (Loss) Available to Common Stockholders, Basic	(1,167,000)	1,181,000
Future And Option Contracts [Member]
Summary Of Significant Accounting Policies [Line Items]
Derivative Asset	395,000		1,046,000
Derivative Liability	$ 576,000		1,567,000
Corn Oil [Member]
Summary Of Significant Accounting Policies [Line Items]
Total Commitment to Sale of Corn Oil (pounds) | lb	4.7
corn [Member]
Summary Of Significant Accounting Policies [Line Items]
Total purchase commitment	$ 10,500,000
corn [Member] | Future And Option Contracts [Member]
Summary Of Significant Accounting Policies [Line Items]
Realized & unrealized hedging (gains)	19,000	266,000
corn [Member] | Forward Contracts [Member]
Summary Of Significant Accounting Policies [Line Items]
Derivative Liability			1,567,000
Realized & unrealized hedging (gains)	477,000	(2,362,000)
Fair Value, Inputs, Level 2 [Member]
Summary Of Significant Accounting Policies [Line Items]
Derivative Asset	0		0
Derivative Liability	576,000		$ 1,567,000
Numerator [Member]
Summary Of Significant Accounting Policies [Line Items]
Net Income (Loss) Available to Common Stockholders, Diluted	$ 1,167,000	$ 1,181,000
Denominator [Member]
Summary Of Significant Accounting Policies [Line Items]
Weighted Average Number of Shares Outstanding, Basic | shares	13,327	13,327
Weighted Average Number of Shares Outstanding, Diluted | shares	13,327	14,386
Earnings Per Share, Basic | $ / shares	$ (87.57)	$ 88.62
Earnings Per Share, Diluted | $ / shares	$ (87.57)	$ 82.09
Forward Contracts [Member] | corn [Member]
Summary Of Significant Accounting Policies [Line Items]
Total purchase commitment of corn (in bushels) | bu	2.5
Forward Basis Contract [Member] | corn [Member]
Summary Of Significant Accounting Policies [Line Items]
Total purchase commitment of corn (in bushels) | bu	2.8

Summary Of Significant Accoun_4

Summary Of Significant Accounting Policies (Schedule Of Derivatives Not Designated As Hedging Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2018
Summary Of Significant Accounting Policies [Line Items]
Net realized and unrealized (gains) losses	$ 496	$ (2,096)
In Gain Position [Member]
Summary Of Significant Accounting Policies [Line Items]
Derivative Assets			$ (583)
In loss position [Member]
Summary Of Significant Accounting Policies [Line Items]
Derivative Assets	11		82
Cash Held By Broker [Member]
Summary Of Significant Accounting Policies [Line Items]
Derivative Assets	(159)		(545)
Future And Option Contracts [Member]
Summary Of Significant Accounting Policies [Line Items]
Derivative Assets	(395)		(1,046)
Derivative Liability	576		1,567
Fair Value, Inputs, Level 1 [Member]
Summary Of Significant Accounting Policies [Line Items]
Derivative Assets	(247)		(583)
Derivative Liability	11		82
corn [Member] | Future And Option Contracts [Member]
Summary Of Significant Accounting Policies [Line Items]
Net realized and unrealized (gains) losses	(19)	(266)
corn [Member] | Forward Contracts [Member]
Summary Of Significant Accounting Policies [Line Items]
Net realized and unrealized (gains) losses	$ (477)	$ 2,362
Derivative Liability			$ 1,567

Summary Of Significant Accoun_5

Summary Of Significant Accounting Policies (Schedule Of Net Realized And Unrealized Gains And Losses On Derivative Contracts) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Gain (Loss) on Derivative Instruments Held for Trading Purposes, Net	$ 496	$ (2,096)
Future And Option Contracts [Member] | corn [Member]
Gain (Loss) on Derivative Instruments Held for Trading Purposes, Net	(19)	(266)
Forward Contracts [Member] | corn [Member]
Gain (Loss) on Derivative Instruments Held for Trading Purposes, Net	$ (477)	$ 2,362

Summary Of Significant Accoun_6

Summary Of Significant Accounting Policies (Schedule Of Property And Equipment) (Details) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2018
Property, Plant and Equipment [Line Items]
Allowance for Doubtful Accounts Receivable	$ 0		$ 0
Gain (Loss) on Derivative Instruments Held for Trading Purposes, Net	$ 496,000	$ (2,096,000)
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

Inventory (Components Of Invent

Inventory (Components Of Inventory) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018
Inventory Disclosure [Abstract]
Raw Materials - corn	$ 3,336	$ 4,095
Supplies and Chemicals	4,857	4,747
Work in Process	1,718	1,421
Finished Goods	3,739	3,263
Inventory	$ 13,650	$ 13,526

Revolving Loan_Credit Agreeme_3

Revolving Loan/Credit Agreements (FCSA) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018
Debt Instrument [Line Items]
Term Loan	$ 30,000
Long-term Debt	12,796	$ 22,023	$ 12,796
Long-term Debt, Current Maturities	5,065	6,560
Deferred Finance Costs, Own-share Lending Arrangement, Issuance Costs, Net	113	130
Long-term Debt, Excluding Current Maturities	$ 7,618	15,333
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months			5,065
Long-term Debt, Maturities, Repayments of Principal in Year Two			581
Long-term Debt, Maturities, Repayments of Principal in Year Three			595
Long-term Debt, Maturities, Repayments of Principal in Year Four			1,250
Long-term Debt, Maturities, Repayments of Principal in Year Five			$ 5,305
FSCA - Term Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis	LIBOR plus 3.35%
Debt Instrument, Basis Spread on Variable Rate	3.35%
Debt Instrument, Interest Rate During Period	4.92%
Convertible Note Payable - Unit Holders [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	$ 2,991	3,129
FSCA [Member]
Debt Instrument [Line Items]
Term loan, outstanding balance	4,500	6,000
Term Revolver, Outstanding Amount	$ 5,305	$ 12,894
FSCA - Term Revolver [Member]
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis	LIBOR plus 3.35%
Debt Instrument, Basis Spread on Variable Rate	3.35%
Debt Instrument, Interest Rate During Period	4.92%
Minimum [Member] | Various Other [Member]
Debt Instrument [Line Items]
Debt Conversion, Converted Instrument, Rate	3.50%
Maximum [Member] | Various Other [Member]
Debt Instrument [Line Items]
Debt Conversion, Converted Instrument, Rate	4.15%
FSCA [Member]
Debt Instrument [Line Items]
Term Loan	$ 36,000
Debt Instrument, Periodic Payment, Principal	1,500
Debt Instrument, Periodic Principal Reduction	6,000
Debt Instrument, Unused Borrowing Capacity, Amount	$ 30,700

Fair Value Measurement (Financi

Fair Value Measurement (Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Sep. 30, 2017
Derivative [Line Items]
Warrants and rights outstanding, risk-free interest rate	2.57%	2.57%
Warrants and rights outstanding, expected volatility	22.00%	22.00%
Put Option, Expected Life Expectancy	1 year 3 months	1 year 3 months
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 10,897	$ 10,897
Share Price	$ 5,500	$ 5,500
Warrants Not Settleable in Cash, Fair Value Disclosure	$ 5,400	$ 5,400	$ 5,700
Fair Value, Liabilities Measured on Recurring Basis, Change in Unrealized Gain (Loss)	0	(300)
Level 1 [Member]
Derivative [Line Items]
Derivative Assets	247	583
Liabilities: Derivative financial instruments	11	82
Fair Value, Put Option Liability	0	0
Level 2 [Member]
Derivative [Line Items]
Derivative Assets	0	0
Liabilities: Derivative financial instruments	576	1,567
Fair Value, Put Option Liability	0	0
Level 3 [Member]
Derivative [Line Items]
Derivative Assets	0	0
Liabilities: Derivative financial instruments	0	0
Fair Value, Put Option Liability	$ 5,400	$ 5,400

Related Party Transactions (Bun

Related Party Transactions (Bunge) (Narrative) (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Dec. 31, 2018USD ($)a$ / sharesshares	Dec. 31, 2017USD ($)	Dec. 31, 2014
Related Party Transaction [Line Items]
Share repurchase agreement, minimum per share price | $ / shares	$ 10,897
Railcar Agreement [Member]
Related Party Transaction [Line Items]
Agreement period	120 months
Bunge [Member] | DG Agreement [Member]
Related Party Transaction [Line Items]
Total Renewal Periods	1
Related Party Renewal Period	5 years
Minimum renewal notice time	180 days
Related Party Transaction, Expenses from Transactions with Related Party	$ 0.3	$ 0.3
Bunge [Member] | Grain Feedstock Agency Agreement [Member]
Related Party Transaction [Line Items]
Total Renewal Periods	1
Related Party Renewal Period	5 years
Minimum renewal notice time	180 days
Related Party Transaction, Expenses from Transactions with Related Party	$ 0.2	0.2
Bunge [Member] | Ethanol Agreement [Member]
Related Party Transaction [Line Items]
Total Renewal Periods	1
Related Party Renewal Period	5 years
Minimum renewal notice time	180 days
Related Party Transaction, Expenses from Transactions with Related Party	$ 0.4	0.4
Bunge [Member] | Services Agreement [Member]
Related Party Transaction [Line Items]
Total Renewal Periods	1
Related Party Renewal Period	5 years
Minimum renewal notice time	180 days
Contracted Acres, Enogen | a	25,500
Bunge [Member] | Railcar Agreement [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	$ 0.9	$ 1
number of railcars, subleased	96
Other unrelated parties [Member]
Related Party Transaction [Line Items]
number of railcars, subleased	92
Other unrelated parties [Member] | Railcar Agreement [Member]
Related Party Transaction [Line Items]
number of railcars, subleased	52
Ethanol Cars [Member] | Railcar Agreement [Member]
Related Party Transaction [Line Items]
Number of railcars	323		325
Hopper Cars [Member] | Railcar Agreement [Member]
Related Party Transaction [Line Items]
Number of railcars	298		300
Common Class C [Member]
Related Party Transaction [Line Items]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | shares	1,000
Common Class A [Member]
Related Party Transaction [Line Items]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | shares	18

Major Customers (Details)

Major Customers (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Bunge [Member]
Revenue, Major Customer [Line Items]
Revenue from Related Parties	$ 50.3	$ 47.8