Southwest Iowa Renewable Energy (SWIOU) 10-Q 7 May 21 2021 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Mar. 31, 2021	Sep. 30, 2020
Document Information [Line Items]
Capital Units, Outstanding	8,975	8,975
Entity Registrant Name	SOUTHWEST IOWA RENEWABLE ENERGY, LLC
Entity Central Index Key	0001424844
Current Fiscal Year End Date	--09-30
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Shell Company	false
Entity Address, City or Town	Council Bluffs
Entity Address, State or Province	IA
Entity Address, Postal Zip Code	51503
City Area Code	712
Local Phone Number	366-0392
Entity Tax Identification Number	20-2735046
Entity File Number	000-53041
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	IA
Document Quarterly Report	true
Document Transition Report	false
Document Type	10-Q
Entity Emerging Growth Company	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Address, Address Line One	10868 189th Street
Entity Common Stock, Shares Outstanding	8,975

Balance Sheets

Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Sep. 30, 2020
Current Assets
Cash and cash equivalents	$ 1,081	$ 1,116
Accounts receivable	11,915	8,488
Derivative financial instruments	2,280	705
Inventory	19,114	13,369
Prepaid expenses and other	1,310	424
Total current assets	35,700	24,102
Property, Plant, and Equipment
Land	2,064	2,064
Plant, building and equipment	248,230	247,462
Office and other equipment	1,805	1,803
Total Cost	252,099	251,329
Accumulated depreciation	(147,968)	(142,444)
Net property and equipment	104,131	108,885
Other Assets
Operating Lease, Right-of-Use Asset	5,060	6,667
Other Assets, Noncurrent	932	1,172
Other assets	5,992	7,839
Total Assets	145,823	140,826
Current Liabilities
Accounts payable	3,088	3,204
Accrued expenses	4,728	4,176
Long-term Debt, Current Maturities	4,455	8,191
Operating Lease, Liability, Current	3,013	3,052
Total current liabilities	15,284	18,623
Long Term Liabilities
Long-term Debt, Excluding Current Maturities	60,585	48,529
Other long-term liabilities	4,138	4,255
Operating Lease, Liability, Noncurrent	2,047	3,615
Total long term liabilities	$ 66,770	$ 56,399
Capital Units, Outstanding	8,975	8,975
Common Unit, Issued	8,975	8,975
Members' Equity
Members' capital, 13,139 Units issued and outstanding	$ 64,106	$ 64,106
Accumulated profit (deficit)	(337)	1,698
Total members' equity	63,769	65,804
Total Liabilities and Members' Equity	$ 145,823	$ 140,826

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - shares	Mar. 31, 2021	Sep. 30, 2020
Statement of Financial Position [Abstract]
Members' capital, units outstanding	8,975	8,975

Statements Of Operations

Statements Of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Revenues	$ 70,001	$ 50,328	$ 125,411	$ 112,393
Cost of goods sold-non hedging	71,667	53,575	125,316	110,619
Gain (Loss) on Derivative Instruments Held for Trading Purposes, Net	421	(385)	(536)	(802)
Cost of Goods and Services Sold	72,088	53,190	124,780	109,817
Gross Margin	(2,087)	(2,862)	631	2,576
General and administrative expenses	1,311	1,279	2,646	2,523
Operating Income	(3,398)	(4,141)	(2,015)	53
Other Income (Expense)
Other (Income) Expense	(252)	609	20	950
Net Income (Loss) Available to Common Stockholders, Basic	$ (3,146)	$ (4,750)	$ (2,035)	$ (897)
Denominator [Member]
Other Income (Expense)
Weighted Average Units Outstanding	8,975	8,975	8,975	10,824
Weighted Average Number of Shares Outstanding, Diluted	8,975	8,975	8,975	10,824
Earnings Per Share, Basic	$ (350.53)	$ (529.25)	$ (226.74)	$ (82.87)
Earnings Per Share, Diluted	$ (350.53)	$ (529.25)	$ (226.74)	$ (82.87)

Statement of Members' Equity St

Statement of Members' Equity Statement - USD ($)	Total	Members' Contribution [Member]	Retained Earnings [Member]
Members' Capital	$ 89,305	$ 87,165	$ 2,140
Stock Repurchased During Period, Value	(23,059)	23,059	0
Net Income (Loss) Attributable to Parent	3,853	0	3,853
Members' Capital	70,099	64,106	5,993
Net Income (Loss) Attributable to Parent	(4,750)	0	(4,750)
Members' Capital	65,349	64,106	1,243
Members' Capital	65,804	64,106	1,698
Net Income (Loss) Attributable to Parent	1,111	0	1,111
Members' Capital	66,915	64,106	2,809
Net Income (Loss) Attributable to Parent	(3,146,000)	0	(3,146)
Members' Capital	$ 63,769	$ 64,106	$ (337)

Condensed Statements Of Cash Fl

Condensed Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash Flows From Operating Activities
Net Income (Loss) Available to Common Stockholders, Basic	$ (2,035)	$ (897)
Adjustments to reconcile net (loss) to net cash provided by operating activities:
Depreciation	5,524	5,205
Amortization	28	54
Gain (Loss) on Disposition of Property Plant Equipment	0	13
Provision for Other Credit Losses	11	0
Increase (Decrease) in Other Current Assets	240	422
(Increase) decrease in current assets:
Accounts receivable	(3,438)	6,335
Inventories	(5,745)	1,301
Prepaid expenses and other	(886)	(748)
Increase (Decrease) in Derivative Assets	(1,575)	(412)
Increase (decrease) in current liabilities:
Accounts payable	(116)	(556)
Derivative Liability	0	213
Accrued expenses	552	(3,313)
Increase (Decrease) in Other Noncurrent Liabilities	(117)	722
Net Cash Provided by (Used in) Operating Activities	(7,557)	8,339
Cash Flows From Investing Activities
Purchase of property and equipment	(1,006)	(5,236)
Proceeds from Sale of Property, Plant, and Equipment	236	0
Net Cash Provided by (Used in) Investing Activities	(770)	(5,236)
Cash Flows From Financing Activities
Payments of Financing Costs	(33)	(223)
Decrease (Increase) in Put Warrant Liability	0	(6,037)
Proceeds from notes payable	(115,599)	(156,654)
Payments on borrowings	(107,274)	(130,489)
Payments for Repurchase of Common Stock	0	(23,059)
Net cash (used in) financing activities	8,292	(3,154)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(35)	(51)
Cash And Equivalents-Beginning	1,116	1,075
Cash And Equivalents-Ending	1,081	1,024
Supplemental Cash Flow Information [Abstract]
Interest Paid, Excluding Capitalized Interest, Operating Activities	973	842
increase (decrease) of right to use lease liability	$ 0	$ 9,684

Nature Of Business

Nature Of Business	6 Months Ended
	Mar. 31, 2021
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 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.

Inventory

Inventory	6 Months Ended
	Mar. 31, 2021
Inventory Disclosure [Abstract]
Inventory	Inventory Inventory is comprised of the following: March 31, 2021 September 30, 2020 in 000's in 000's Raw Materials - corn $ 4,901 $ 1,663 Supplies and Chemicals 4,981 4,906 Work in Process 2,439 1,667 Finished Goods 6,793 5,133 Total $ 19,114 $ 13,369

Revolving Loan_Credit Agreement

Revolving Loan/Credit Agreements	6 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Revolving Loan/Credit Agreements	Revolving Loan/Credit Agreements FCSA/CoBank The Company is a party to a credit agreement with Farm Credit Services of America, FLCA (“ FCSA ”), Farm Credit Services of America, PCA and CoBank, ACB, as cash management provider and agent (“ CoBank ”) which provides the Company with a term loan in the amount of $30.0 million (the “ Term Loan ”) and a revolving term loan in the amount of up to $40.0 million (the “ Revolving Term Loan ”), together with the Term Loan, the “ FCSA Credit Facility ”). On February 26, 2021, the credit agreement was amended to add an additional $10.0 million revolving line of credit with a maturity date of August 1, 2021 with the same rate provisions as the original credit agreement. The balance on the amended credit agreement was $0 at March 31, 2021. The FCSA Credit Facility is secured by a security interest on all of the Company’s assets. The Term Loan provides for semi-annual payments by the Company to FCSA of $3.75 million beginning September 1, 2020 and a maturity date of November 15, 2024. The February 26, 2021 amendment to the credit agreement modified the Term Loan to only require the Company to make one principal payment of $3.75 million during 2021, which payment was made on March 1, 2021, and thereafter requires the Company to make four equal semi-annual payments of $3.75 million on each March 1 and September 1, through September 1, 2023. All remaining amounts due under the Restated Term Note are due and payable on the maturity date. The Revolving Term Loan also has a maturity date of November 15, 2024. 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 loans, with a LIBOR spread of 3.4% per annum. The interest rate at March 31, 2021 was 3.51%. As of March 31, 2021, there was $11.9 million available under the Revolving Term Loan. Paycheck Protection Program Loan On April 14, 2020, the Company received $1.1 million under the Paycheck Protection Program (" PPP loan ") legislation. The PPP loan may be forgiven based upon various factors, including, without limitation, the borrower's payroll cost over an eight to twenty-four week period starting upon the receipt of the funds. Expenses for approved payroll costs, lease payments on agreements before February 15, 2020 and utility payments under agreements before February 1, 2020 and certain other specified costs can be paid with these funds and eligible for payment forgiveness by the federal government. At least 60% of the proceeds must be used for approved payroll costs, and no more than 40% for non-payroll expenses. PPP loan proceeds used by a borrower for the approved expense categories will generally be fully forgiven by the lender if the borrower satisfies certain employee headcount and compensation requirements. As of March 31, 2021 the Company had applied for forgiveness on the PPP loan from the Small Business Administration (" SBA ") and is awaiting a response upon our request. On January 28, 2021, the Company received an additional $1.1 million under Phase II of the PPP legislation. As in the original PPP loan, expenses for approved payroll costs, lease payments on agreements and utility payments under agreements and certain other specified costs can be paid with these funds and eligible for payment forgiveness by the federal government. At least 60% of the proceeds must be used for approved payroll costs, and no more than 40% for non-payroll expenses. PPP loan proceeds used by a borrower for the approved expense categories will generally be fully forgiven by the lender if the borrower satisfies certain employee headcount and compensation requirements. Notes payable Notes payable consists of the following: March 31, 2021 September 30, 2020 (000's) (000's) Term Loan bearing interest at LIBOR plus 3.40% (3.51% at March 31, 2021) $ 22,500 $ 26,250 Revolving Term Loan bearing interest at LIBOR plus 3.40% (3.51% at March 31, 2021) 38,132 26,828 Note payable, PPP Loan bearing interest at 1.00% maturing April 28, 2022 1,063 1,063 Note payable, PPP Loan bearing interest at 1.00% maturing January 4, 2026 1,113 — Other with interest rates from 3.50% to 4.15% and maturities through 2027 2,419 2,761 65,227 56,902 Less Current Maturities 4,455 8,191 Less Financing Costs, net of amortization 187 182 Total Long Term Debt 60,585 48,529 Approximate aggregate maturities of notes payable as of March 31, 2021 for the twelve months of payments for each year are as follows: 2022 $ 4,455 2023 9,767 2024 7,611 2025 41,996 2026 119 2027 and thereafter 1,279 Total $ 65,227

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Mar. 31, 2021
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. 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 March 31, 2021 and September 30, 2020, categorized by the level of the valuation inputs within the fair value hierarchy (in '000s): March 31, 2021 Level 1 Level 2 Level 3 Assets: Derivative financial instruments $ 506 $ 1,552 $ — Liabilities: Derivative financial instruments 355 — — September 30, 2020 Level 1 Level 2 Level 3 Assets: Derivative financial instruments $ 590 $ 403 $ — Liabilities: Derivative financial instruments 592 — —

Related Party Transactions

Related Party Transactions	6 Months Ended
	Mar. 31, 2021
Related Party Transaction, Due from (to) Related Party [Abstract]
Related Party Transactions	Related Party Transactions On December 31, 2019, the effective date, the Company repurchased the 3,334 Series B membership units owned by Bunge. Effective as of the date of the repurchase of the Series B Units from Bunge, Bunge no longer constituted related parties. Bunge Under the original Ethanol Agreement between the Company and Bunge, the Company sold Bunge all of the ethanol produced by the Company and the Company paid Bunge a percentage fee for ethanol sold by Bunge, subject to a minimum and maximum annual fee. The initial term of the original Ethanol Agreement expired on December 31, 2019. As part of the Bunge Membership Interest Purchase Agreement (the " Bunge Repurchase Agreement "), the parties entered into a restated Ethanol Agreement effective January 1, 2020 (the " Restated Ethanol Agreement ") which provides that the Company will pay Bunge a flat monthly marketing fee. The term of the Restated Ethanol Agreement expires on December 31, 2026. As of January 1, 2020, Bunge is no longer a related party. The Company incurred related party ethanol marketing expenses of $0.4 million during the six months ended March 31, 2020, all in the first quarter. Under the DG Purchase Agreement, Bunge purchased 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 expired on December 31, 2019. As part of the Bunge Repurchase Agreement, Bunge agreed to provide transition services until March 31, 2020 for all duties and responsibilities of the original DG Purchase Agreement. The Company is now responsible for all duties and responsibilities previously performed by Bunge, and Bunge is no longer a related party. The Company incurred related party distillers grains marketing expenses of $0.3 million during the six months ended March 31, 2020, all incurred in the first quarter. The Company and Bunge entered into an Amended and Restated Grain Feedstock Agency Agreement on December 5, 2014 (the “ Agency Agreement ”). The Agency Agreement provided 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 expired on December 31, 2019. As part of the Bunge Repurchase Agreement, Bunge agreed to provide transition services until March 31, 2020 for all duties and responsibilities of the original Agency Agreement. The Company is now responsible for all duties and responsibilities previously performed by Bunge, and Bunge is no longer a related party. Related party expenses for corn procurement by Bunge were $0.2 million during the six months ended March 31, 2020, all incurred in the first quarter. Since the 2015 crop year, the Company has used 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. 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 paid Bunge a per bushel service fee. The initial term of the Services Agreement expired on December 31, 2019 and the Company notified Bunge of its election not to extend the Services Agreement, but to allow corn planted for that fiscal year to be planted and harvested under the terms of the Services Agreement. Expenses under the Services Agreement are included as part of the Amended and Restated Grain Feedstock Agency Agreement discussed above for the six months ended March 31, 2020, all incurred in the first quarter.

Revenue from Contract with Cust

Revenue from Contract with Customer	6 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Major Customers	Major Customer    The Company is party to the Restated Ethanol Agreement with Bunge for the exclusive marketing, selling, and distributing of all the ethanol produced by the Company through December 31, 2026 and was a party to the Distillers Grain Purchase Agreement with Bunge for the exclusive marketing, selling and distributing of all distillers grains and syrup produced by the Company through March 31, 2020. Since April 1, 2020, all distiller grain and syrup revenues are booked directly by the Company. Revenues from Bunge were $52.6 million and $47.2 million for the three months ended March 31, 2021 and 2020, respectively. Revenues from Bunge were $91.9 million and $106.6 million for the six months ended March 31, 2021 and 2020, respectively. The 2021 revenue is for ethanol only, while the 2020 revenue is for ethanol, distiller grains and syrup.

Lease Obligations (Notes)

Lease Obligations (Notes)	3 Months Ended	6 Months Ended
	Mar. 31, 2020	Mar. 31, 2021
Leases [Abstract]
Lessee, Operating Leases [Text Block]	Lease Obligations Effective October 1, 2019, the Company adopted ASU 2016-02, Leases (Topic 842). The Company elected the option to apply the transition provisions at the adoption date instead of the earliest comparative period presented in the financial statements. The Company elected the short-term lease exception provided for in the standard and therefore only recognized right-of-use assets and lease liabilities for leases with a term greater than one year. The Company elected the package of practical expedients to not re-evaluate existing contracts as containing a lease or the lease classification unless it was not previously assessed against the lease criteria. In addition, the Company did not reassess initial direct costs for any existing leases. A lease exists when a contract conveys to a party the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. The Company recognized a lease liability at the lease commencement date, as the present value of future lease payments, using an estimated rate of interest that the Company would pay to borrow equivalent funds on a collateralized basis. A lease asset is recognized based on the lease liability value and adjusted for any prepaid lease payments, initial direct costs, or lease incentive amounts. The lease term at the commencement date includes any renewal options or termination options when it is reasonably certain that the Company will exercise or not exercise those options, respectively. The Company leases rail cars and rail moving equipment with original terms up to 3 years for hopper cars and 4 years for tanker cars from Bunge and Trinity Leasing. An additional 60 cars are leased from a third party under two separate leases for 3 years for half and 4 years for the second half. The Company is obligated to pay costs of insurance, taxes, repairs and maintenance pursuant to the terms of the leases. These costs are in addition to regular lease payments and are not included in lease expense. The Company subleased 30 tanker cars and 44 hopper cars to two unrelated third parties, which subleases expired November 8, 2020 and December 31, 2020. Upon expiration, the leases convert to a month-to-month basis. Expense incurred for the operating leases during the three months ended March 31, 2021 was approximately $0.7 million and $0.8 million for the three months ended March 31, 2020. For the six months ended March 31, 2021 the operating lease expense was $1.4 million compared to $1.5 million for the six months ended March 31, 2020. The total lease agreements have maturity dates ranging from January 2022 to April 2023. The average remaining life of the lease term for these leases was 2.43 years as of March 31, 2021. The discount rate used in determining the lease liability for each individual lease was the Company's estimated incremental borrowing rate of 3.51%. The right-of-use asset operating lease, included in other assets, and operating lease liability, included in current and long term liabilities was $5.1 million as of March 31, 2021. At March 31, 2021, the Company had the following approximate minimum rental commitments under non-cancellable operating leases for the twelve month period ended March 31, 2021: 2022 $ 3,051 2023 2,131 2023 177 2025 3 2026 3 Total $ 5,365 Undiscounted future payments $ 5,365 Discount effect (305) $ 5,060
Lessee, Operating Lease, Liability, Maturity [Table Text Block]		At March 31, 2021, the Company had the following approximate minimum rental commitments under non-cancellable operating leases for the twelve month period ended March 31, 2021: 2022 $ 3,051 2023 2,131 2023 177 2025 3 2026 3 Total $ 5,365 Undiscounted future payments $ 5,365 Discount effect (305) $ 5,060

Summary Of Significant Accounti

Summary Of Significant Accounting Policies (Policy)	6 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Other Information The accompanying financial statements are for the three months and six months ended March 31, 2021 and 2020, 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, 2020 (" Fiscal 2020 ") 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 Company sells ethanol and related products pursuant to marketing agreements. Revenues are recognized when the risk of loss has been transferred to the marketing company and 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 and transfer of risk of loss. The Company’s ethanol sales are handled through an ethanol purchase agreement (the “ Ethanol Agreement ”) with Bunge North America, Inc. (“ Bunge ”) which was restated effective January 1, 2020 in connection with the Company's repurchase of the Series B Units from Bunge under the Bunge Membership Interest Purchase Agreement (the " Bunge Repurchase Agreement "). Syrup and distillers grains (co-products) were previously sold through a distillers grains agreement (the “ DG Agreement ”) with Bunge, based on market prices. As discussed in Note 6, the initial term of this DG Agreement expired December 31, 2019, and as set forth in the Bunge Repurchase Agreement, Bunge provided transition services for all duties and responsibilities of the original DG Agreement through March 31, 2020. Since April 1, 2020, the Company has been responsible for these functions. 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. Shipping and handling costs are booked as a direct offset to revenue. 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. 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 quarterly basis. 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 March 31, 2021 and September 30, 2020, management had determined an allowance of $0.2 million and $0.1 million, respectively, was necessary. Receivables are written off when deemed uncollectible 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. Rising corn prices may 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 March 31, 2021, the Company had 9.7 million gallons of open contracts for ethanol, 0.1 million tons of wet and dried distillers grains and 4.0 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 March 31, 2021, the Company was committed to purchasing 4.1 million bushels of corn on a forward contract basis resulting in a total commitment of $20.2 million. In addition, the Company was committed to purchase 0.7 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 March 31, 2021 and September 30, 2020 at market value are as follows: Balance Sheet Classification March 31, 2021 September 30, 2020 in 000's in 000's Futures and option contracts In gain position $ 506 $ 590 In loss position (355) (592) Cash held by broker 577 304 Forward contracts, corn 1,552 403 Current asset 2,280 705 Net futures, options, and forward contracts $ 2,280 $ 705 The net realized and unrealized gains and losses on the Company’s derivative contracts for the three months and six months ended March 31, 2021 and 2020 consist of the following: Three Months Ended Six Months Ended Statement of Operations Classification March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 in 000's in 000's in 000's in 000's Net realized and unrealized (gains) losses related to: Forward purchase corn contracts Cost of Goods Sold $ (3,165) $ 865 $ (7,441) $ 900 Futures and option corn contracts Cost of Goods Sold 3,586 (1,250) 6,905 (1,702) Leases In February 2016, FASB issued ASU 2016-02 "Leases” (" ASU 2016-02 "). ASU 2016-02 requires the recognition of lease assets and lease liabilities by lessees for all leases greater than one year in duration and classified as operating leases under previous GAAP. Under the new guidance, lessees are required to recognize the following for all leases (with the exception of short-term leases): 1) a lease liability, which is a lessee's obligation to make lease payments arising from a lease, measured on a discounted cash flow basis; and 2) a "right to use" asset, which is an asset that represents the lessee's right to use the specified asset for the lease term. The Company adopted this accounting standard effective October 1, 2019. Upon adoption, the Company elected a practical expedient which allows existing leases to retain their classification as operating leases. The Company has elected to account for lease and related non-lease components as a single lease component. See Note 8 for more detailed information regarding leases. 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. For the three and six months ended March 31, 2021 and 2020, the Company had no lower of cost or market adjustment. 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 Six Months Ended March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 Numerator: Net (Loss) for basic earnings per unit $ (3,146) $ (4,750) $ (2,035) $ (897) Net (Loss) for diluted earnings per unit $ (3,146) $ (4,750) $ (2,035) $ (897) Denominator: Weighted average units outstanding - basic 8,975 8,975 8,975 10,824 Weighted average units outstanding - diluted 8,975 8,975 8,975 10,824 (Loss) per unit - basic $ (350.53) $ (529.25) $ (226.74) $ (82.87) (Loss) per unit - diluted $ (350.53) $ (529.25) $ (226.74) $ (82.87)
Basis Of Presentation And Other Information	Basis of Presentation and Other Information The accompanying financial statements are for the three months and six months ended March 31, 2021 and 2020, 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, 2020 (" Fiscal 2020 ") 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 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 Company sells ethanol and related products pursuant to marketing agreements. Revenues are recognized when the risk of loss has been transferred to the marketing company and 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 and transfer of risk of loss. The Company’s ethanol sales are handled through an ethanol purchase agreement (the “ Ethanol Agreement ”) with Bunge North America, Inc. (“ Bunge ”) which was restated effective January 1, 2020 in connection with the Company's repurchase of the Series B Units from Bunge under the Bunge Membership Interest Purchase Agreement (the " Bunge Repurchase Agreement "). Syrup and distillers grains (co-products) were previously sold through a distillers grains agreement (the “ DG Agreement ”) with Bunge, based on market prices. As discussed in Note 6, the initial term of this DG Agreement expired December 31, 2019, and as set forth in the Bunge Repurchase Agreement, Bunge provided transition services for all duties and responsibilities of the original DG Agreement through March 31, 2020. Since April 1, 2020, the Company has been responsible for these functions. 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. Shipping and handling costs are booked as a direct offset to revenue. 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.
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 quarterly basis. 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 March 31, 2021 and September 30, 2020, management had determined an allowance of $0.2
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. Rising corn prices may 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 March 31, 2021, the Company had 9.7 million gallons of open contracts for ethanol, 0.1 million tons of wet and dried distillers grains and 4.0 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 March 31, 2021, the Company was committed to purchasing 4.1 million bushels of corn on a forward contract basis resulting in a total commitment of $20.2 million. In addition, the Company was committed to purchase 0.7 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 March 31, 2021 and September 30, 2020 at market value are as follows: Balance Sheet Classification March 31, 2021 September 30, 2020 in 000's in 000's Futures and option contracts In gain position $ 506 $ 590 In loss position (355) (592) Cash held by broker 577 304 Forward contracts, corn 1,552 403 Current asset 2,280 705 Net futures, options, and forward contracts $ 2,280 $ 705 The net realized and unrealized gains and losses on the Company’s derivative contracts for the three months and six months ended March 31, 2021 and 2020 consist of the following: Three Months Ended Six Months Ended Statement of Operations Classification March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 in 000's in 000's in 000's in 000's Net realized and unrealized (gains) losses related to: Forward purchase corn contracts Cost of Goods Sold $ (3,165) $ 865 $ (7,441) $ 900 Futures and option corn contracts Cost of Goods Sold 3,586 (1,250) 6,905 (1,702)
Lessee, Leases [Policy Text Block]	Leases In February 2016, FASB issued ASU 2016-02 "Leases” (" ASU 2016-02 "). ASU 2016-02 requires the recognition of lease assets and lease liabilities by lessees for all leases greater than one year in duration and classified as operating leases under previous GAAP. Under the new guidance, lessees are required to recognize the following for all leases (with the exception of short-term leases): 1) a lease liability, which is a lessee's obligation to make lease payments arising from a lease, measured on a discounted cash flow basis; and 2) a "right to use" asset, which is an asset that represents the lessee's right to use the specified asset for the lease term. The Company adopted this accounting standard effective October 1, 2019. Upon adoption, the Company elected a practical expedient which allows existing leases to retain their classification as operating leases. The Company has elected to account for lease and related non-lease components as a single lease component. See Note 8 for more detailed information regarding leases.
Inventory	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. For the three and six months ended March 31, 2021 and 2020, the Company had no lower of cost or market adjustment.
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 Six Months Ended March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 Numerator: Net (Loss) for basic earnings per unit $ (3,146) $ (4,750) $ (2,035) $ (897) Net (Loss) for diluted earnings per unit $ (3,146) $ (4,750) $ (2,035) $ (897) Denominator: Weighted average units outstanding - basic 8,975 8,975 8,975 10,824 Weighted average units outstanding - diluted 8,975 8,975 8,975 10,824 (Loss) per unit - basic $ (350.53) $ (529.25) $ (226.74) $ (82.87) (Loss) per unit - diluted $ (350.53) $ (529.25) $ (226.74) $ (82.87)

Summary Of Significant Accoun_2

Summary Of Significant Accounting Policies (Tables)	6 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Schedule Of Derivatives Not Designated As Hedging Instruments	Derivatives not designated as hedging instruments along with cash held by brokers at March 31, 2021 and September 30, 2020 at market value are as follows: Balance Sheet Classification March 31, 2021 September 30, 2020 in 000's in 000's Futures and option contracts In gain position $ 506 $ 590 In loss position (355) (592) Cash held by broker 577 304 Forward contracts, corn 1,552 403 Current asset 2,280 705 Net futures, options, and forward contracts $ 2,280 $ 705
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 and six months ended March 31, 2021 and 2020 consist of the following: Three Months Ended Six Months Ended Statement of Operations Classification March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 in 000's in 000's in 000's in 000's Net realized and unrealized (gains) losses related to: Forward purchase corn contracts Cost of Goods Sold $ (3,165) $ 865 $ (7,441) $ 900 Futures and option corn contracts Cost of Goods Sold 3,586 (1,250) 6,905 (1,702)
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block]	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 Six Months Ended March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 Numerator: Net (Loss) for basic earnings per unit $ (3,146) $ (4,750) $ (2,035) $ (897) Net (Loss) for diluted earnings per unit $ (3,146) $ (4,750) $ (2,035) $ (897) Denominator: Weighted average units outstanding - basic 8,975 8,975 8,975 10,824 Weighted average units outstanding - diluted 8,975 8,975 8,975 10,824 (Loss) per unit - basic $ (350.53) $ (529.25) $ (226.74) $ (82.87) (Loss) per unit - diluted $ (350.53) $ (529.25) $ (226.74) $ (82.87)

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Mar. 31, 2021
Inventory Disclosure [Abstract]
Components Of Inventory	Inventory is comprised of the following: March 31, 2021 September 30, 2020 in 000's in 000's Raw Materials - corn $ 4,901 $ 1,663 Supplies and Chemicals 4,981 4,906 Work in Process 2,439 1,667 Finished Goods 6,793 5,133 Total $ 19,114 $ 13,369

Revolving Loan_Credit Agreeme_2

Revolving Loan/Credit Agreements Debt Maturities (Tables)	6 Months Ended
	Mar. 31, 2021
Debt Instrument [Line Items]
Schedule of Long-term Debt Instruments [Table Text Block]	Notes payable consists of the following: March 31, 2021 September 30, 2020 (000's) (000's) Term Loan bearing interest at LIBOR plus 3.40% (3.51% at March 31, 2021) $ 22,500 $ 26,250 Revolving Term Loan bearing interest at LIBOR plus 3.40% (3.51% at March 31, 2021) 38,132 26,828 Note payable, PPP Loan bearing interest at 1.00% maturing April 28, 2022 1,063 1,063 Note payable, PPP Loan bearing interest at 1.00% maturing January 4, 2026 1,113 — Other with interest rates from 3.50% to 4.15% and maturities through 2027 2,419 2,761 65,227 56,902 Less Current Maturities 4,455 8,191 Less Financing Costs, net of amortization 187 182 Total Long Term Debt 60,585 48,529
Schedule of Maturities of Long-term Debt [Table Text Block]	pproximate aggregate maturities of notes payable as of March 31, 2021 for the twelve months of payments for each year are as follows: 2022 $ 4,455 2023 9,767 2024 7,611 2025 41,996 2026 119 2027 and thereafter 1,279 Total $ 65,227

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The following table summarizes financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2021 and September 30, 2020, categorized by the level of the valuation inputs within the fair value hierarchy (in '000s): March 31, 2021 Level 1 Level 2 Level 3 Assets: Derivative financial instruments $ 506 $ 1,552 $ — Liabilities: Derivative financial instruments 355 — — September 30, 2020 Level 1 Level 2 Level 3 Assets: Derivative financial instruments $ 590 $ 403 $ — Liabilities: Derivative financial instruments 592 — —

Nature Of Business (Details)

Nature Of Business (Details) gal in Millions	6 Months Ended
	Mar. 31, 2021gal
Nature Of Business [Abstract]
Production, Number Of Gallons	140

Summary Of Significant Accoun_3

Summary Of Significant Accounting Policies (Narrative) (Details)	3 Months Ended		6 Months Ended
	Mar. 31, 2021USD ($)lb$ / sharessharesbu	Mar. 31, 2020USD ($)$ / sharesshares	Mar. 31, 2021USD ($)lb$ / sharessharesgalbu	Mar. 31, 2020USD ($)$ / sharesshares	Sep. 30, 2020USD ($)
Summary Of Significant Accounting Policies [Line Items]
Payroll Protection Plan Loan	$ 1,113,000		$ 1,113,000		$ 0
Total Commitment to Sale of Ethanol (gallons) | gal			9,700,000
Derivative Assets (Liabilities), at Fair Value, Net	2,280,000		$ 2,280,000		705,000
Realized & unrealized hedging (gains)	421,000	$ (385,000)	(536,000)	$ (802,000)
Increase (Decrease) in Inventories and Other Operating Assets			0	0
Net Income (Loss) Available to Common Stockholders, Basic	(3,146,000)	(4,750,000)	(2,035,000)	(897,000)
Allowance for Doubtful Accounts, Premiums and Other Receivables	$ 200,000		$ 200,000		100,000
Total Commitment to Sale of Corn Oil | lb	4,000,000		4,000,000
forward basis contracts, bushels | bu	4,100,000		4,100,000
forward basis contracts	$ 20,200,000		$ 20,200,000
Long-term Purchase Commitment, Minimum Volume Required | bu			700,000
Future And Option Contracts [Member]
Summary Of Significant Accounting Policies [Line Items]
Derivative Asset	2,280,000		$ 2,280,000		705,000
In Gain Position [Member]
Summary Of Significant Accounting Policies [Line Items]
Derivative Asset	506,000		506,000
In loss position [Member]
Summary Of Significant Accounting Policies [Line Items]
Derivative Asset	(355,000)		(355,000)		(592,000)
Cash Held By Broker [Member]
Summary Of Significant Accounting Policies [Line Items]
Derivative Asset	577,000		$ 577,000		304,000
Future
Summary Of Significant Accounting Policies [Line Items]
Derivative Asset					403,000
Distillers Grains [Member]
Summary Of Significant Accounting Policies [Line Items]
Sale of distillers, grains, and solubles (in tons) | lb			100,000
corn [Member] | Future And Option Contracts [Member]
Summary Of Significant Accounting Policies [Line Items]
Realized & unrealized hedging (gains)	(3,586,000)	1,250,000	$ (6,905,000)	1,702,000
corn [Member] | Forward Contracts [Member]
Summary Of Significant Accounting Policies [Line Items]
Realized & unrealized hedging (gains)	3,165,000	(865,000)	7,441,000	(900,000)
Fair Value, Inputs, Level 2 [Member]
Summary Of Significant Accounting Policies [Line Items]
Derivative Asset	1,552,000		1,552,000		403,000
Derivative Liability	0		0		$ 0
Numerator [Member]
Summary Of Significant Accounting Policies [Line Items]
Net Income (Loss) Available to Common Stockholders, Diluted	$ (3,146,000)	$ (4,750,000)	$ (2,035,000)	$ (897,000)
Denominator [Member]
Summary Of Significant Accounting Policies [Line Items]
Weighted Average Number of Shares Outstanding, Basic | shares	8,975	8,975	8,975	10,824
Weighted Average Number of Shares Outstanding, Diluted | shares	8,975	8,975	8,975	10,824
Earnings Per Share, Basic | $ / shares	$ (350.53)	$ (529.25)	$ (226.74)	$ (82.87)
Earnings Per Share, Diluted | $ / shares	$ (350.53)	$ (529.25)	$ (226.74)	$ (82.87)
Retained Earnings [Member] | Numerator [Member]
Summary Of Significant Accounting Policies [Line Items]
Net Income (Loss) Available to Common Stockholders, Basic			$ (2,035,000)	$ (897,000)

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		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Sep. 30, 2020
Summary Of Significant Accounting Policies [Line Items]
Net realized and unrealized (gains) losses	$ (421)	$ 385	$ 536	$ 802
In Gain Position [Member]
Summary Of Significant Accounting Policies [Line Items]
Derivative Assets	(506)		(506)
In loss position [Member]
Summary Of Significant Accounting Policies [Line Items]
Derivative Assets	355		355		$ 592
Cash Held By Broker [Member]
Summary Of Significant Accounting Policies [Line Items]
Derivative Assets	(577)		(577)		(304)
Future And Option Contracts [Member]
Summary Of Significant Accounting Policies [Line Items]
Derivative Assets	(2,280)		(2,280)		(705)
Fair Value, Inputs, Level 1 [Member]
Summary Of Significant Accounting Policies [Line Items]
Derivative Assets	(506)		(506)		(590)
Derivative Liability	355		355		$ 592
corn [Member] | Future And Option Contracts [Member]
Summary Of Significant Accounting Policies [Line Items]
Net realized and unrealized (gains) losses	3,586	(1,250)	6,905	(1,702)
corn [Member] | Forward Contracts [Member]
Summary Of Significant Accounting Policies [Line Items]
Net realized and unrealized (gains) losses	$ (3,165)	$ 865	$ (7,441)	$ 900

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		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Gain (Loss) on Derivative Instruments Held for Trading Purposes, Net	$ (421)	$ 385	$ 536	$ 802
Future And Option Contracts [Member] | corn [Member]
Gain (Loss) on Derivative Instruments Held for Trading Purposes, Net	3,586	(1,250)	6,905	(1,702)
Forward Contracts [Member] | corn [Member]
Gain (Loss) on Derivative Instruments Held for Trading Purposes, Net	$ (3,165)	$ 865	$ (7,441)	$ 900

Summary Of Significant Accoun_6

Summary Of Significant Accounting Policies (Schedule Of Property And Equipment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Property, Plant and Equipment [Line Items]
Gain (Loss) on Derivative Instruments Held for Trading Purposes, Net	$ (421)	$ 385	$ 536	$ 802
Increase (Decrease) in Inventories and Other Operating Assets			$ 0	$ 0

Inventory (Components Of Invent

Inventory (Components Of Inventory) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Sep. 30, 2020
Inventory Disclosure [Abstract]
Raw Materials - corn	$ 4,901	$ 1,663
Supplies and Chemicals	4,981	4,906
Work in Process	2,439	1,667
Finished Goods	6,793	5,133
Inventory	$ 19,114	$ 13,369

Revolving Loan_Credit Agreeme_3

Revolving Loan/Credit Agreements (FCSA) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2021	Mar. 31, 2021	Feb. 26, 2021	Jan. 28, 2021	Sep. 30, 2020	Apr. 14, 2020
Debt Instrument [Line Items]
Term Loan, Additional Line			$ 10,000
Payroll Protection Plan Loan	$ 1,113	$ 1,113			$ 0
Payroll Protection Program, Round 1	1,063	1,063			1,063
Long-term Debt	65,227	65,227			56,902
Long-term Debt, Current Maturities	4,455	4,455			8,191
Deferred Finance Costs, Own-share Lending Arrangement, Issuance Costs, Net	187	187			182
Long-term Debt, Excluding Current Maturities	60,585	60,585			48,529
Long-Term Debt, Maturity, Year Two	9,767	9,767
Long-Term Debt, Maturity, Year Three	7,611	7,611
Long-Term Debt, Maturity, Year Four	41,996	41,996
Long-Term Debt, Maturity, Year Five	119	119
Long-Term Debt, Maturity, after Year Five	1,279	$ 1,279
Debt Instrument, Periodic Payments made	$ 3,750
Paycheck Protection Program Loan, Round 1
Debt Instrument [Line Items]
Proceeds used for payroll costs, minimum	60.00%	60.00%
Proceeds for non-payroll costs, maximum	40.00%	40.00%
Payroll Protection Program, Round 1						$ 1,100
Paycheck Protection Program Loan, Interest Rate		1.00%
Paycheck Protection Program Loan, Maturity Date		Apr. 28, 2022
Paycheck Protection Program Loan, Round 2
Debt Instrument [Line Items]
Payroll Protection Plan Loan				$ 1,100
Proceeds used for payroll costs, minimum				60.00%
Proceeds for non-payroll costs, maximum				40.00%
Paycheck Protection Program Loan, Interest Rate		1.00%
Paycheck Protection Program Loan, Maturity Date		Jan. 4, 2026
FSCA [Member]
Debt Instrument [Line Items]
Term loan, outstanding balance	$ 22,500	$ 22,500			26,250
Debt Instrument, Periodic Payment, Principal	3,750
Debt Instrument, Periodic Payment, Postponed	3,750
Term Revolver, Outstanding Amount	38,132	38,132			26,828
Convertible Note Payable - Unit Holders [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	2,419	2,419			$ 2,761
FSCA [Member]
Debt Instrument [Line Items]
Term Loan	30,000	30,000
revolving term loan	40,000	40,000
Term loan, outstanding balance	0	0
Debt Instrument, Unused Borrowing Capacity, Amount	$ 11,900	$ 11,900
FSCA [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate Description	LIBOR
Debt Instrument, Basis Spread on Variable Rate	3.40%
Line of Credit Facility, Interest Rate During Period	351.00%
FSCA [Member] | Revolving Term Loan [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate Description	LIBOR
Debt Instrument, Basis Spread on Variable Rate	3.40%
Line of Credit Facility, Interest Rate During Period	351.00%
Minimum [Member]
Debt Instrument [Line Items]
Other Term Debt, Other, Interest Rate	3.50%	3.50%
Maximum [Member]
Debt Instrument [Line Items]
Other Term Debt, Other, Interest Rate	4.15%	4.15%

Fair Value Measurement (Financi

Fair Value Measurement (Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($)	3 Months Ended			6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2021	Mar. 31, 2020	Sep. 30, 2020
Derivative [Line Items]
Stock Repurchased During Period, Value			$ 23,059
Bunge [Member]
Derivative [Line Items]
Revenue from Related Parties	$ 52,600,000	$ 47,200,000		$ 91,900,000	$ 106,600,000
Level 1 [Member]
Derivative [Line Items]
Derivative Assets	506,000			506,000		$ 590,000
Liabilities: Derivative financial instruments	355,000			355,000		592,000
Level 2 [Member]
Derivative [Line Items]
Derivative Assets	1,552,000			1,552,000		403,000
Liabilities: Derivative financial instruments	0			0		0
Level 3 [Member]
Derivative [Line Items]
Derivative Assets	0			0		0
Liabilities: Derivative financial instruments	$ 0			$ 0		$ 0

Related Party Transactions (Bun

Related Party Transactions (Bunge) (Narrative) (Details)	Nov. 15, 2019	Mar. 31, 2021USD ($)shares	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Mar. 31, 2021USD ($)Rateshares	Mar. 31, 2020USD ($)	Sep. 30, 2015
Related Party Transaction [Line Items]
Stock Repurchased During Period, Value				$ 23,059
Railcar Agreement [Member]
Related Party Transaction [Line Items]
Number of railcars					60
Operating Leases, Rent Expense, Net		$ 700,000	$ 800,000		$ 1,400,000	$ 1,500,000
Capital Unit, Class B [Member] | Bunge [Member]
Related Party Transaction [Line Items]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | shares		3,334			3,334
Bunge [Member] | DG Agreement [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party			300,000
Bunge [Member] | Grain Feedstock Agency Agreement [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party			200,000
Bunge [Member] | Ethanol Agreement [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party			$ 400,000
Ethanol Cars [Member] | Bunge [Member] | Extended Railcar Agreement [Member]
Related Party Transaction [Line Items]
Number of railcars							323
Hopper Cars [Member] | Bunge [Member] | Extended Railcar Agreement [Member]
Related Party Transaction [Line Items]
Number of railcars	110						111
Lease Expense Reduction | Rate					15.00%

Lease Obligations (Details)

Lease Obligations (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Sep. 30, 2020USD ($)
Lessee, Operating Lease, Liability, to be Paid, Year One	$ 3,051		$ 3,051
Lessee, Operating Lease, Liability, to be Paid, Year Two	2,131		2,131
Lessee, Operating Lease, Liability, to be Paid, Year Three	177		177
Lessee, Operating Lease, Liability, to be Paid, Year Four	3		3
Lessee, Operating Lease, Liability, to be Paid, Year Five	3		3
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	5,365		5,365
Operating Lease Discount Effect			(305)
Lessee, Operating Lease, Liability, Discounted Excess Amount	5,060		5,060
Operating Lease, Right-of-Use Asset	$ 5,060		5,060		$ 6,667
Decrease (Increase) in Put Warrant Liability			$ 0	$ (6,037)
Lessee, Operating Lease, Discount Rate	3.51%		3.51%
Ethanol Cars [Member]
number of railcars, subleased			30
Hopper Cars [Member]
number of railcars, subleased			44
Railcar Agreement [Member]
Number Of Railcars			60
Operating Leases, Rent Expense, Net	$ 700	$ 800	$ 1,400	$ 1,500