REX American Resources (REX) 10-Q 3 Jun 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Apr. 30, 2016	Jun. 02, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	REX AMERICAN RESOURCES Corp
Document Type	10-Q
Current Fiscal Year End Date	--01-31
Entity Common Stock, Shares Outstanding		6,560,527
Amendment Flag	false
Entity Central Index Key	744,187
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Apr. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 30, 2016	Jan. 31, 2016
Current assets:
Cash and cash equivalents	$ 122,450	$ 135,765
Restricted cash	520	54
Accounts receivable	13,416	13,666
Inventory	25,732	17,178
Refundable income taxes	3,731	5,254
Prepaid expenses and other	6,285	6,407
Deferred taxes, net	1,036	1,036
Total current assets	173,170	179,360
Property and equipment, net	189,209	189,976
Other assets	6,692	6,642
Equity method investments	38,940	38,707
Total assets	408,011	414,685
Current liabilities:
Accounts payable, trade	7,143	10,212
Accrued expenses and other current liabilities	6,958	9,423
Total current liabilities	14,101	19,635
Long-term liabilities:
Deferred taxes	38,304	38,304
Other long-term liabilities	987	987
Total long-term liabilities	39,291	39,291
REX shareholders’ equity:
Common stock	299	299
Paid-in capital	144,856	144,844
Retained earnings	478,712	475,874
Treasury stock	(314,104)	(309,754)
Total REX shareholders’ equity	309,763	311,263
Noncontrolling interests	44,856	44,496
Total equity	354,619	355,759
Total liabilities and equity	$ 408,011	$ 414,685

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 30, 2016	Apr. 30, 2015
Net sales and revenue	$ 100,222	$ 105,197
Cost of sales	91,800	96,070
Gross profit	8,422	9,127
Selling, general and administrative expenses	(4,027)	(4,453)
Equity in income of unconsolidated affiliates	233	1,480
Gain on sale of investment	192
Gain on disposal of property and equipment, net		483
Interest and other income	160	218
Income before income taxes	4,980	6,855
Provision for income taxes	(1,514)	(2,416)
Net income	3,466	4,439
Net income attributable to noncontrolling interests	(628)	(512)
Net income attributable to REX common shareholders	$ 2,838	$ 3,927
Weighted average shares outstanding – basic (in Shares)	6,573	7,900
Basic net income per share attributable to REX common shareholders (in Dollars per share)	$ 0.43	$ 0.50
Weighted average shares outstanding – diluted (in Shares)	6,594	7,900
Diluted net income per share attributable to REX common shareholders (in Dollars per share)	$ 0.43	$ 0.50

CONSOLIDATED CONDENSED STATEME4

CONSOLIDATED CONDENSED STATEMENTS OF EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]
Balance at Jan. 31, 2015	$ 392,964	$ 299	$ (239,557)	$ 144,791	$ 444,438	$ 42,993
Balance (in Shares) at Jan. 31, 2015		29,853	21,954
Net income	4,439				3,927	512
Balance at Apr. 30, 2015	397,403	$ 299	$ (239,557)	144,791	448,365	43,505
Balance (in Shares) at Apr. 30, 2015		29,853	21,954
Balance at Jan. 31, 2016	355,759	$ 299	$ (309,754)	144,844	475,874	44,496
Balance (in Shares) at Jan. 31, 2016		29,853	23,204
Net income	3,466				2,838	628
Treasury stock acquired	(4,353)		$ (4,353)
Treasury stock acquired (in Shares)			88
Stock based compensation expense	15		$ 3	12
Noncontrolling interests distribution and other	(268)					(268)
Balance at Apr. 30, 2016	$ 354,619	$ 299	$ (314,104)	$ 144,856	$ 478,712	$ 44,856
Balance (in Shares) at Apr. 30, 2016		29,853	23,292

CONSOLIDATED CONDENSED STATEME5

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2016	Apr. 30, 2015
Cash flows from operating activities:
Net income including noncontrolling interests	$ 3,466	$ 4,439
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation, impairment charges and amortization	4,812	4,956
Income from equity method investments	(233)	(1,480)
Gain on disposal of real estate and property and equipment, net		(483)
Dividends received from equity method investees		3,634
Gain on sale of investment	(192)
Stock based compensation expense	15
Changes in assets and liabilities:
Accounts receivable	(1,833)	(1,133)
Inventories	(8,554)	(1,504)
Other assets	1,589	2,075
Accounts payable, trade	(2,284)	(1,629)
Other liabilities	(2,465)	(3,587)
Net cash (used in) provided by operating activities	(5,679)	5,288
Cash flows from investing activities:
Capital expenditures	(4,474)	(2,507)
Restricted cash	(466)
Proceeds from sale of investment	2,275
Proceeds from sale of real estate and property and equipment, net		1,402
Other	6	6
Net cash used in investing activities	(2,659)	(1,099)
Cash flows from financing activities:
Purchase of stock from noncontrolling interests holders	(268)
Treasury stock acquired	(4,709)
Net cash used in financing activities	(4,977)
Net (decrease) increase in cash and cash equivalents	(13,315)	4,189
Cash and cash equivalents, beginning of period	135,765	137,697
Cash and cash equivalents, end of period	122,450	$ 141,886
Non cash investing activities – Accrued capital expenditures	$ 634

Consolidated Condensed Financia

Consolidated Condensed Financial Statements	3 Months Ended
	Apr. 30, 2016
Disclosure Text Block [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1. Consolidated Condensed Financial Statements The consolidated condensed financial statements included in this report have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission and include, in the opinion of management, all adjustments necessary to state fairly the information set forth therein. Any such adjustments were of a normal recurring nature. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. Financial information as of January 31, 2016 included in these financial statements has been derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended January 31, 2016 (fiscal year 2015). It is suggested that these unaudited consolidated condensed financial statements be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended January 31, 2016. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the year. Basis of Consolidation – The consolidated condensed financial statements in this report include the operating results and financial position of REX American Resources Corporation and its wholly and majority owned subsidiaries. All intercompany balances and transactions have been eliminated. The Company includes the results of operations of One Earth Energy, LLC (“One Earth”) in its Consolidated Condensed Statements of Operations on a delayed basis of one month. Nature of Operations – The Company operates in one reportable segment, alternative energy, and has equity investments in three ethanol limited liability companies, two of which are majority ownership interests.

Accounting Policies

Accounting Policies	3 Months Ended
	Apr. 30, 2016
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Note 2. Accounting Policies The interim consolidated condensed financial statements have been prepared in accordance with the accounting policies described in the notes to the consolidated financial statements included in the Company’s fiscal year 2015 Annual Report on Form 10-K. While management believes that the procedures followed in the preparation of interim financial information are reasonable, the accuracy of some estimated amounts is dependent upon facts that will exist or calculations that will be accomplished at fiscal year-end. Examples of such estimates include accrued liabilities, such as management bonuses, and the provision for income taxes. Any adjustments pursuant to such estimates during the quarter were of a normal recurring nature. Actual results could differ from those estimates. Revenue Recognition The Company recognizes sales from the production of ethanol, distillers grains and non-food grade corn oil when title transfers to customers, generally upon shipment from the ethanol plant or upon loading of the rail car used to transport the products. Cost of Sales Cost of sales includes depreciation, costs of raw materials, inbound freight charges, purchasing and receiving costs, inspection costs, other distribution expenses, warehousing costs, plant management, certain compensation costs, and general facility overhead charges. Selling, General and Administrative Expenses The Company includes non-production related costs such as professional fees, selling charges and certain payroll in selling, general and administrative expenses. Financial Instruments A majority of the forward grain purchase and ethanol, distillers grains and non-food grade corn oil sale contracts are accounted for under the “normal purchases and normal sales” scope exemption of Accounting Standards Codification (“ASC”) 815, “Derivatives and Hedging” The Company uses derivative financial instruments (exchange-traded futures contracts) to manage a portion of the risk associated with changes in commodity prices, primarily related to corn. The Company monitors and manages this exposure as part of its overall risk management policy. As such, the Company seeks to reduce the potentially adverse effects that the volatility of these markets may have on its operating results. The Company may take hedging positions in these commodities as one way to mitigate risk. While the Company attempts to link its hedging activities to purchase and sales activities, there are situations in which these hedging activities can themselves result in losses. The Company does not hold or issue derivative financial instruments for trading or speculative purposes. Income Taxes The Company applies an effective tax rate to interim periods that is consistent with the Company’s estimated annual tax rate as adjusted for discrete items impacting the interim periods. The Company provides for deferred tax liabilities and assets for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carryforwards. The Company provides for a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company paid no income taxes during the three months ended April 30, 2016 or 2015. As of April 30, 2016 and January 31, 2016, total unrecognized tax benefits were approximately $987,000. There were no accrued penalties and interest at April 30, 2016 or January 31, 2016. If the Company were to prevail on all unrecognized tax benefits recorded, the provision for income taxes would be reduced by approximately $987,000. Interest and penalties associated with unrecognized tax benefits are recorded within income tax expense. On a quarterly and annual basis, the Company accrues for the effects of open uncertain tax positions and the related potential penalties and interest. Inventories Inventories are carried at the lower of cost or market on a first-in, first-out basis. Inventory includes direct production costs and certain overhead costs such as depreciation, property taxes and utilities related to producing ethanol and related by-products. Inventory is permanently written down for instances when cost exceeds estimated net realizable value; such write-downs are based primarily upon commodity prices as the market value of inventory is often dependent upon changes in commodity prices. There were no significant permanent write-downs of inventory at April 30, 2016 and January 31, 2016. Fluctuations in the write-down of inventory generally relate to the levels and composition of such inventory at a given point in time. The components of inventory are as follows as of the dates presented (amounts in thousands): April 30, 2016 January 31, 2016 Ethanol and other finished goods $ 4,945 $ 3,105 Work in process 2,711 2,652 Grain and other raw materials 18,076 11,421 Total $ 25,732 $ 17,178 Property and Equipment Property and equipment is recorded at cost. Depreciation is computed using the straight-line method. Estimated useful lives are 15 to 40 years for buildings and improvements, and 2 to 20 years for fixtures and equipment. In accordance with ASC 360-10 “ Impairment or Disposal of Long-Lived Assets The Company tests for recoverability of an asset group by comparing its carrying amount to its estimated undiscounted future cash flows. If the carrying amount of an asset group exceeds its estimated undiscounted future cash flows, the Company recognizes an impairment charge for the amount by which the asset group’s carrying amount exceeds its fair value, if any. The Company generally determines the fair value of the asset group using a discounted cash flow model based on market participant assumptions (for income producing asset groups) or by obtaining appraisals based on the market approach and comparable market transactions (for non-income producing asset groups). Investments The method of accounting applied to long-term investments, whether consolidated, equity or cost, involves an evaluation of the significant terms of each investment that explicitly grant or suggest evidence of control or influence over the operations of the investee and also includes the identification of any variable interests in which the Company is the primary beneficiary. The Company consolidates the results of two majority owned subsidiaries, One Earth and NuGen. The results of One Earth are included on a delayed basis of one month lag as One Earth has a fiscal year end of December 31. NuGen has the same fiscal year as the parent, and therefore, there is no lag in reporting the results of NuGen. The Company accounts for investments in a limited liability company in which it has a less than 20% ownership interest, using the equity method of accounting when the factors discussed in ASC 323, “ Investments-Equity Method and Joint Ventures The Company periodically evaluates its investments for impairment due to declines in market value considered to be other than temporary. Such impairment evaluations include general economic and company-specific evaluations. If the Company determines that a decline in market value is other than temporary, then a charge to earnings is recorded in the Consolidated Condensed Statements of Operations and a new cost basis in the investment is established. Comprehensive Income The Company has no components of other comprehensive income, and therefore, comprehensive income equals net income. Accounting Changes and Recently Issued Accounting Standards In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-09, “ Improvements to Employee share-Based Payment Accounting In January 2016, the FASB issued ASU 2016-01. “ Recognition and Measurement of Financial Assets and Financial Liabilities

Leases

Leases	3 Months Ended
	Apr. 30, 2016
Leases [Abstract]
Leases of Lessor Disclosure [Text Block]	Note 3. Leases At April 30, 2016, the Company has lease agreements, as lessee, for rail cars and a natural gas pipeline. All of the leases are accounted for as operating leases. The following table is a summary of future minimum rentals on such leases (amounts in thousands): Years Ended January 31, Minimum Rentals Remainder of 2017 $ 5,505 2018 6,575 2019 5,845 2020 4,341 2021 2,778 Thereafter 4,169 Total $ 29,213

Fair Value

Fair Value	3 Months Ended
	Apr. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Note 4. Fair Value The Company applies ASC 820, “ Fair Value Measurements and Disclosures” . This accounting standard defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company determines the fair market values of its financial instruments based on the fair value hierarchy established by ASC 820 which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair values which are provided below. The Company carries certain cash equivalents, investments and derivative instruments at fair value. The fair values of derivative assets and liabilities traded in the over-the-counter market are determined using quantitative models that require the use of multiple market inputs including interest rates, prices and indices to generate pricing and volatility factors, which are used to value the position. The predominance of market inputs are actively quoted and can be validated through external sources, including brokers, market transactions and third-party pricing services. Estimation risk is greater for derivative asset and liability positions that are either option-based or have longer maturity dates where observable market inputs are less readily available or are unobservable, in which case interest rate, price or index scenarios are extrapolated in order to determine the fair value. The fair values of derivative assets and liabilities include adjustments for market liquidity, counterparty credit quality, the Company’s own credit standing and other specific factors, where appropriate. The fair values of property and equipment are determined by using various models that discount future expected cash flows. To ensure the prudent application of estimates and management judgement in determining the fair value of derivative assets and liabilities, investments and property and equipment, various processes and controls have been adopted, which include: (i) model validation that requires a review and approval for pricing, financial statement fair value determination and risk quantification; and (ii) periodic review and substantiation of profit and loss reporting for all derivative instruments. Financial assets and liabilities measured at fair value on a recurring basis at April 30, 2016 are summarized below (amounts in thousands): Level 1 Level 2 Level 3 Fair Value Commodity futures (1) $ 92 $ — $ — $ 92 Investment in cooperative (2) — — 333 333 Total assets $ 92 $ — $ 333 $ 425 Forward purchase contract liability (3) $ — $ 3 $ — $ 3 Financial assets and liabilities measured at fair value on a recurring basis at January 31, 2016 are summarized below (amounts in thousands): Level 1 Level 2 Level 3 Fair Value Investment in cooperative (2) $ — $ — $ 333 $ 333 Forward purchase contracts liability (3) $ — $ 312 $ — $ 312 (1) Commodity futures are included in “Prepaid expenses and other current assets” on the accompanying Consolidated Condensed Balance Sheets. (2) The investment in cooperative is included in “Other assets” on the accompanying Consolidated Condensed Balance Sheets. (3) The forward purchase contract liability is included in “Accrued expenses and other current liabilities” on the accompanying Consolidated Condensed Balance Sheets. The Company determined the fair value of the investment in cooperative by using a discounted cash flow analysis on the expected cash flows. Inputs used in the analysis include the face value of the allocated equity amount, the projected term for repayment based upon a historical trend, and a risk adjusted discount rate based on the expected compensation participants would demand because of the uncertainty of the future cash flows. The inherent risk and uncertainty associated with unobservable inputs could have a significant effect on the actual fair value of the investment. There were no assets measured at fair value on a non-recurring basis at April 30, 2016 or January 31, 2016.

Property and Equipment

Property and Equipment	3 Months Ended
	Apr. 30, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	Note 5. Property and Equipment The components of property and equipment are as follows for the periods presented (amounts in thousands): April 30, 2016 January 31, 2016 Land and improvements $ 21,598 $ 21,598 Buildings and improvements 24,543 24,543 Machinery, equipment and fixtures 240,893 237,735 Construction in progress 6,936 6,094 293,970 289,970 Less: accumulated depreciation (104,761 ) (99,994 ) Total $ 189,209 $ 189,976

Other Assets

Other Assets	3 Months Ended
	Apr. 30, 2016
Disclosure Text Block Supplement [Abstract]
Other Assets Disclosure [Text Block]	Note 6. Other Assets The components of other assets are as follows for the periods presented (amounts in thousands): April 30, 2016 January 31, 2016 Real estate taxes refundable $ 5,091 $ 5,091 Deposits 664 664 Other 937 887 Total $ 6,692 $ 6,642 Real estate taxes refundable represent amounts due One Earth associated with refunds of previously paid taxes in connection with a tax increment financing arrangement with local taxing authorities. Deposits are with utility and other vendors.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	3 Months Ended
	Apr. 30, 2016
Disclosure Text Block Supplement [Abstract]
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	Note 7. Accrued Expenses and Other Current Liabilities The components of accrued expenses and other current liabilities are as follows for the periods presented (amounts in thousands): April 30, January 31, Accrued utility charges $ 1,695 $ 2,094 Accrued payroll and related items 1,732 3,760 Accrued real estate taxes 2,703 2,564 Other 828 1,005 Total $ 6,958 $ 9,423

Revolving Lines of Credit

Revolving Lines of Credit	3 Months Ended
	Apr. 30, 2016
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Note 8. Revolving Lines of Credit Effective April 1, 2016, One Earth and NuGen each entered into $10.0 million revolving loan facilities that mature April 1, 2017. Any borrowings will be secured by the inventory and accounts receivable of One Earth or NuGen, specific to which entity borrows money under these facilities. These revolving loan facilities are recourse only to One Earth and NuGen and not to REX American Resources Corporation or any of its other subsidiaries. Borrowings under these facilities bear interest at the one month LIBOR rate plus 250 basis points. Neither One Earth nor NuGen had outstanding borrowings on the revolving loans during the three months ended April 30, 2016. One Earth and NuGen are also subject to certain financial covenants under the revolving loan facilities, including working capital requirements, should they borrow on the loans.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Apr. 30, 2016
Share-based Arrangements with Employees and Nonemployees [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	Note 9. Stock-Based Compensation The Company has a stock-based compensation plan, approved by its shareholders, which reserves a total of 550,000 shares of common stock for issuance pursuant to its terms. The plan provides for the granting of shares of stock, including options to purchase shares of common stock, stock appreciation rights tied to the value of common stock, restricted stock, and restricted stock unit awards to eligible employees, non-employee directors and consultants. The Company measures share-based compensation grants at fair value on the grant date, adjusted for estimated forfeitures. The Company records noncash compensation expense related to equity awards in its consolidated financial statements over the requisite service period on a straight-line basis. All of the Company’s existing share-based compensation awards have been determined to be equity awards. As a component of their compensation, restricted stock has been granted to directors at the market price of REX common stock on the date of the grant. In addition one third of executives’ incentive compensation is payable by an award of restricted stock based on the then market price of REX common stock. The following table summarizes non-vested stock award activity for the three months ended April 30, 2016: Non-Vested Shares Weighted-Average Grant Date Fair Value (in thousands) Weighted- Average Vesting Term (in years) Non-Vested at January 31, 2016 3,168 $ 200 Granted — — Forfeited — — Vested — — Non-Vested at April 30, 2016 3,168 $ 200 2 At April 30, 2016, unrecognized compensation cost related to nonvested restricted stock was approximately $121,000.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Apr. 30, 2016
Disclosure Text Block Supplement [Abstract]
Financial Instruments Disclosure [Text Block]	Note 10. Derivative Financial Instruments The Company is exposed to various market risks, including changes in commodity prices (raw materials and finished goods). To manage risks associated with the volatility of these natural business exposures, the Company enters into commodity agreements and forward purchase (corn) and sale (ethanol, distillers grains and non-food grade corn oil) contracts. The Company does not purchase or sell derivative financial instruments for trading or speculative purposes. The Company does not purchase or sell derivative financial instruments for which a lack of marketplace quotations would require the use of fair value estimation techniques. The changes in fair value of these derivative financial instruments are recognized in current period earnings as the Company does not use hedge accounting. The following table provides information about the fair values of the Company’s derivative financial instruments and the line items on the Consolidated Balance Sheets in which the fair values are reflected (in thousands): Asset Derivatives Liability Derivatives Fair Value at Fair Value at 2016 2015 2016 2015 Commodity futures (1) $ 93 $ 8 $ — $ — Forward purchase contracts (2) $ — $ — $ 3 $ — Total (1) Commodity futures are included in other prepaid expense and other current assets. These futures contracts are for approximately 2.5 million bushels of corn at April 30, 2016 and approximately 35,000 bushels of corn at April 30, 2015. (2) Forward purchase contracts are included in accrued expenses and other current liabilities. These contracts are for purchases of approximately 0.6 million bushels of corn. As of April 30, 2016, all of the derivative financial instruments held by the Company were subject to enforceable master netting arrangements. The Company’s accounting policy is to offset positions amounts owed or owing with the same counterparty. As of April 30, 2016, the gross positions of the enforceable master netting agreements are not significantly different from the net positions presented in the table above. Depending on the amount of an unrealized loss on a derivative contract held by the Company, the counterparty may require collateral to secure the Company’s derivative contract position. As of April 30, 2016, the Company was required to maintain collateral with the counterparty in the amount of approximately $520,000 to secure the Company’s derivative liability position. See Note 4 which contains fair value information related to derivative financial instruments. Gains of approximately $488,000 for the first quarter of fiscal year 2016 on the Company’s derivative financial instruments were included in cost of sales on the Consolidated Condensed Statements of Operations. There were no gains or losses for the first quarter of fiscal year 2015.

Net Income Per Share Attributab

Net Income Per Share Attributable to REX Common Shareholders	3 Months Ended
	Apr. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Note 11. Net Income Per Share Attributable to REX Common Shareholders The following table reconciles the computation of basic and diluted net income per share for the periods presented (in thousands, except per share amounts): Three Months Ended Three Months Ended April 30, 2016 April 30, 2015 Income Shares Per Income Shares Per Basic net income per share attributable to REX common shareholders $ 2,838 6,573 $ 0.43 $ 3,927 7,900 $ 0.50 Effect of restricted stock — 21 — — Diluted net income per share attributable to REX common shareholders $ 2,838 6,594 $ 0.43 $ 3,927 7,900 $ 0.50 For the three months ended April 30, 2016, all shares subject to outstanding restricted stock awards were dilutive. For the three months ended April 30, 2015, there were no shares subject to outstanding restricted stock awards and options.

Investments

Investments	3 Months Ended
	Apr. 30, 2016
Investments And Deposits [Abstract]
Investments And Deposits [Text Block]	Note 12. Investments The following table summarizes equity method investments at April 30, 2016 and January 31, 2016 (amounts in thousands): Entity Ownership Percentage Carrying Amount April 30, 2016 Carrying Amount January 31, 2016 Big River 9.7 % $ 38,940 $ 38,707 The following table summarizes income recognized from equity method investments for the periods presented (amounts in thousands): Three Months Ended 2016 2015 Big River $ 233 $ 1,007 Patriot (sold June 1, 2015) — 473 Total $ 233 $ 1,480 Undistributed earnings of the equity method investee totaled approximately $18.9 million and $18.7 million at April 30, 2016 and January 31, 2016, respectively. During the first quarter of fiscal year 2015, the Company received dividends from equity method investees of approximately $3.6 million. The Company did not receive dividends from the equity method investee in the first quarter of fiscal year 2016. Summarized financial information for each of the Company’s equity method investees is presented in the following table for the periods presented (amounts in thousands): Three Months Ended Three Months Ended Patriot (1) Big River Patriot (1) Big River Net sales and revenue $ — $ 183,571 $ 63,239 $ 184,806 Gross profit $ — $ 5,870 $ 3,818 $ 10,805 Income from continuing operations $ — $ 2,404 $ 1,779 $ 10,377 Net income $ — $ 2,404 $ 1,779 $ 10,377 (1) The Company’s equity interest in Patriot was sold June 1, 2015. Big River has debt agreements that limit amounts Big River can pay in the form of dividends or advances to owners. The restricted net assets of Big River at April 30, 2016 and January 31, 2016 are approximately $309.9 million and $306.3 million, respectively. On June 1, 2015, Patriot and a subsidiary of CHS Inc. (“CHS”) completed a merger that resulted in CHS acquiring 100% of the ownership interest in Patriot. During the first quarter of fiscal year 2016, the Company received proceeds of approximately $2.3 million as partial payment for certain escrow holdbacks and adjustments to the purchase price. As a result, the Company recognized approximately $0.2 million as gain on sale of investment during the first quarter of fiscal year 2016. At April 30, 2016, the Company has approximately $2.3 million in accounts receivable on the accompanying Consolidated Condensed Balance Sheet related to estimated escrow proceeds that were recognized as income. The Company expects that a determination of the final payment of escrowed proceeds to be received will occur by December 1, 2016.

Income Taxes

Income Taxes	3 Months Ended
	Apr. 30, 2016
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Note 13 . Income Taxes The effective tax rate on consolidated pre-tax income was 30.4% for the three months ended April 30, 2016, and 35.2% for the three months ended April 30, 2015. The reduction in the effective tax rate primarily relates to a change in the apportionment of income to certain states and the impact of noncontrolling interests. The Company files a U.S. federal income tax return and income tax returns in various states. In general, the Company is no longer subject to U.S. federal, state or local income tax examinations by tax authorities for years ended January 31, 2010 and prior. A reconciliation of the beginning and ending amount of unrecognized tax benefits, including interest and penalties, is as follows (amounts in thousands): Unrecognized tax benefits, January 31, 2016 $ 987 Changes for prior years’ tax positions — Changes for current year tax positions — Unrecognized tax benefits, April 30, 2016 $ 987

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Note 14. Commitments and Contingencies The Company is involved in various legal actions arising in the normal course of business. After taking into consideration legal counsels’ evaluations of such actions, management is of the opinion that their outcome will not have a material effect on the Company’s Consolidated Condensed Financial Statements. One Earth and NuGen have combined forward purchase contracts for approximately 14.0 million bushels of corn, the principal raw material for their ethanol plants. They expect to take delivery of the grain through June 2016. One Earth and NuGen have combined sales commitments for approximately 47.1 million gallons of ethanol, approximately 52,000 tons of distillers grains and approximately 8.1 million pounds of non-food grade corn oil. They expect to deliver the ethanol, distillers grains and non-food grade corn oil through July 2016.

Net Sales and Revenue

Net Sales and Revenue	3 Months Ended
	Apr. 30, 2016
Net Sales And Revenue [Abstract]
Net Sales And Revenue [Text Block]	Note 15. Net Sales and Revenue The following table summarizes sales for each product and service group for the periods presented (amounts in thousands): Three Months Ended April 30, Product or Service Category 2016 2015 Ethanol $ 77,631 $ 78,572 Dried distillers grains 17,054 20,251 Non-food grade corn oil 3,846 3,959 Modified distillers grains 1,564 2,305 Other 127 110 Total $ 100,222 $ 105,197

Related-Party Transactions

Related-Party Transactions	3 Months Ended
	Apr. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	Note 16. Related-Party Transactions During the first quarters of fiscal year 2016 and 2015, One Earth and NuGen purchased approximately $44.4 million and $38.1 million, respectively, of corn from minority equity investors and board members of those subsidiaries.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	3 Months Ended
	Apr. 30, 2016
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	The interim consolidated condensed financial statements have been prepared in accordance with the accounting policies described in the notes to the consolidated financial statements included in the Company’s fiscal year 2015 Annual Report on Form 10-K.
Revenue Recognition, Policy [Policy Text Block]	The Company recognizes sales from the production of ethanol, distillers grains and non-food grade corn oil when title transfers to customers, generally upon shipment from the ethanol plant or upon loading of the rail car used to transport the products.
Cost of Sales, Policy [Policy Text Block]	Cost of sales includes depreciation, costs of raw materials, inbound freight charges, purchasing and receiving costs, inspection costs, other distribution expenses, warehousing costs, plant management, certain compensation costs, and general facility overhead charges.
Selling, General and Administrative Expenses, Policy [Policy Text Block]	The Company includes non-production related costs such as professional fees, selling charges and certain payroll in selling, general and administrative expenses.
Fair Value of Financial Instruments, Policy [Policy Text Block]	A majority of the forward grain purchase and ethanol, distillers grains and non-food grade corn oil sale contracts are accounted for under the “normal purchases and normal sales” scope exemption of Accounting Standards Codification (“ASC”) 815, “Derivatives and Hedging” The Company uses derivative financial instruments (exchange-traded futures contracts) to manage a portion of the risk associated with changes in commodity prices, primarily related to corn. The Company monitors and manages this exposure as part of its overall risk management policy. As such, the Company seeks to reduce the potentially adverse effects that the volatility of these markets may have on its operating results. The Company may take hedging positions in these commodities as one way to mitigate risk. While the Company attempts to link its hedging activities to purchase and sales activities, there are situations in which these hedging activities can themselves result in losses. The Company does not hold or issue derivative financial instruments for trading or speculative purposes.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	The Company uses derivative financial instruments (exchange-traded futures contracts) to manage a portion of the risk associated with changes in commodity prices, primarily related to corn.
Income Tax, Policy [Policy Text Block]	The Company applies an effective tax rate to interim periods that is consistent with the Company’s estimated annual tax rate as adjusted for discrete items impacting the interim periods. The Company provides for deferred tax liabilities and assets for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carryforwards. The Company provides for a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company paid no income taxes during the three months ended April 30, 2016 or 2015. As of April 30, 2016 and January 31, 2016, total unrecognized tax benefits were approximately $987,000. There were no accrued penalties and interest at April 30, 2016 or January 31, 2016. If the Company were to prevail on all unrecognized tax benefits recorded, the provision for income taxes would be reduced by approximately $987,000. Interest and penalties associated with unrecognized tax benefits are recorded within income tax expense. On a quarterly and annual basis, the Company accrues for the effects of open uncertain tax positions and the related potential penalties and interest.
Inventory, Policy [Policy Text Block]	Inventories are carried at the lower of cost or market on a first-in, first-out basis. Inventory includes direct production costs and certain overhead costs such as depreciation, property taxes and utilities related to producing ethanol and related by-products. Inventory is permanently written down for instances when cost exceeds estimated net realizable value; such write-downs are based primarily upon commodity prices as the market value of inventory is often dependent upon changes in commodity prices. There were no significant permanent write-downs of inventory at April 30, 2016 and January 31, 2016. Fluctuations in the write-down of inventory generally relate to the levels and composition of such inventory at a given point in time. The components of inventory are as follows as of the dates presented (amounts in thousands): April 30, 2016 January 31, 2016 Ethanol and other finished goods $ 4,945 $ 3,105 Work in process 2,711 2,652 Grain and other raw materials 18,076 11,421 Total $ 25,732 $ 17,178
Property, Plant and Equipment, Policy [Policy Text Block]	Property and equipment is recorded at cost. Depreciation is computed using the straight-line method. Estimated useful lives are 15 to 40 years for buildings and improvements, and 2 to 20 years for fixtures and equipment. In accordance with ASC 360-10 “ Impairment or Disposal of Long-Lived Assets The Company tests for recoverability of an asset group by comparing its carrying amount to its estimated undiscounted future cash flows. If the carrying amount of an asset group exceeds its estimated undiscounted future cash flows, the Company recognizes an impairment charge for the amount by which the asset group’s carrying amount exceeds its fair value, if any. The Company generally determines the fair value of the asset group using a discounted cash flow model based on market participant assumptions (for income producing asset groups) or by obtaining appraisals based on the market approach and comparable market transactions (for non-income producing asset groups).
Investment, Policy [Policy Text Block]	The method of accounting applied to long-term investments, whether consolidated, equity or cost, involves an evaluation of the significant terms of each investment that explicitly grant or suggest evidence of control or influence over the operations of the investee and also includes the identification of any variable interests in which the Company is the primary beneficiary. The Company consolidates the results of two majority owned subsidiaries, One Earth and NuGen. The results of One Earth are included on a delayed basis of one month lag as One Earth has a fiscal year end of December 31. NuGen has the same fiscal year as the parent, and therefore, there is no lag in reporting the results of NuGen. The Company accounts for investments in a limited liability company in which it has a less than 20% ownership interest, using the equity method of accounting when the factors discussed in ASC 323, “ Investments-Equity Method and Joint Ventures The Company periodically evaluates its investments for impairment due to declines in market value considered to be other than temporary. Such impairment evaluations include general economic and company-specific evaluations. If the Company determines that a decline in market value is other than temporary, then a charge to earnings is recorded in the Consolidated Condensed Statements of Operations and a new cost basis in the investment is established.
Comprehensive Income, Policy [Policy Text Block]	The Company has no components of other comprehensive income, and therefore, comprehensive income equals net income.
New Accounting Pronouncements, Policy [Policy Text Block]	In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-09, “ Improvements to Employee share-Based Payment Accounting In January 2016, the FASB issued ASU 2016-01. “ Recognition and Measurement of Financial Assets and Financial Liabilities

Accounting Policies (Tables)

Accounting Policies (Tables)	3 Months Ended
	Apr. 30, 2016
Accounting Policies [Abstract]
Schedule of Inventory, Current [Table Text Block]	The components of inventory are as follows as of the dates presented (amounts in thousands): April 30, 2016 January 31, 2016 Ethanol and other finished goods $ 4,945 $ 3,105 Work in process 2,711 2,652 Grain and other raw materials 18,076 11,421 Total $ 25,732 $ 17,178

Leases (Tables)

Leases (Tables)	3 Months Ended
	Apr. 30, 2016
Leases [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	At April 30, 2016, the Company has lease agreements, as lessee, for rail cars and a natural gas pipeline. All of the leases are accounted for as operating leases. The following table is a summary of future minimum rentals on such leases (amounts in thousands): Years Ended January 31, Minimum Rentals Remainder of 2017 $ 5,505 2018 6,575 2019 5,845 2020 4,341 2021 2,778 Thereafter 4,169 Total $ 29,213

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Apr. 30, 2016
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Financial assets and liabilities measured at fair value on a recurring basis at April 30, 2016 are summarized below (amounts in thousands): Level 1 Level 2 Level 3 Fair Value Commodity futures (1) $ 92 $ — $ — $ 92 Investment in cooperative (2) — — 333 333 Total assets $ 92 $ — $ 333 $ 425 Forward purchase contract liability (3) $ — $ 3 $ — $ 3 Level 1 Level 2 Level 3 Fair Value Investment in cooperative (2) $ — $ — $ 333 $ 333 Forward purchase contracts liability (3) $ — $ 312 $ — $ 312 (1) Commodity futures are included in “Prepaid expenses and other current assets” on the accompanying Consolidated Condensed Balance Sheets. (2) The investment in cooperative is included in “Other assets” on the accompanying Consolidated Condensed Balance Sheets. (3) The forward purchase contract liability is included in “Accrued expenses and other current liabilities” on the accompanying Consolidated Condensed Balance Sheets.

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Apr. 30, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	The components of property and equipment are as follows for the periods presented (amounts in thousands): April 30, 2016 January 31, 2016 Land and improvements $ 21,598 $ 21,598 Buildings and improvements 24,543 24,543 Machinery, equipment and fixtures 240,893 237,735 Construction in progress 6,936 6,094 293,970 289,970 Less: accumulated depreciation (104,761 ) (99,994 ) Total $ 189,209 $ 189,976

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
	Apr. 30, 2016
Disclosure Text Block Supplement [Abstract]
Schedule of Other Assets [Table Text Block]	The components of other assets are as follows for the periods presented (amounts in thousands): April 30, 2016 January 31, 2016 Real estate taxes refundable $ 5,091 $ 5,091 Deposits 664 664 Other 937 887 Total $ 6,692 $ 6,642

Accrued Expenses and Other Cu28

Accrued Expenses and Other Current Liabilities (Tables)	3 Months Ended
	Apr. 30, 2016
Disclosure Text Block Supplement [Abstract]
Other Current Liabilities [Table Text Block]	The components of accrued expenses and other current liabilities are as follows for the periods presented (amounts in thousands): April 30, January 31, Accrued utility charges $ 1,695 $ 2,094 Accrued payroll and related items 1,732 3,760 Accrued real estate taxes 2,703 2,564 Other 828 1,005 Total $ 6,958 $ 9,423

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Apr. 30, 2016
Share-based Arrangements with Employees and Nonemployees [Abstract]
Schedule of Nonvested Share Activity [Table Text Block]	The following table summarizes non-vested stock award activity for the three months ended April 30, 2016: Non-Vested Shares Weighted-Average Grant Date Fair Value (in thousands) Weighted- Average Vesting Term (in years) Non-Vested at January 31, 2016 3,168 $ 200 Granted — — Forfeited — — Vested — — Non-Vested at April 30, 2016 3,168 $ 200 2

Derivative Financial Instrume30

Derivative Financial Instruments (Tables)	3 Months Ended
	Apr. 30, 2016
Disclosure Text Block Supplement [Abstract]
Schedule of Derivative Assets at Fair Value [Table Text Block]	The following table provides information about the fair values of the Company’s derivative financial instruments and the line items on the Consolidated Balance Sheets in which the fair values are reflected (in thousands): Asset Derivatives Liability Derivatives Fair Value at Fair Value at 2016 2015 2016 2015 Commodity futures (1) $ 93 $ 8 $ — $ — Forward purchase contracts (2) $ — $ — $ 3 $ — Total (1) Commodity futures are included in other prepaid expense and other current assets. These futures contracts are for approximately 2.5 million bushels of corn at April 30, 2016 and approximately 35,000 bushels of corn at April 30, 2015. (2) Forward purchase contracts are included in accrued expenses and other current liabilities. These contracts are for purchases of approximately 0.6 million bushels of corn.

Net Income Per Share Attribut31

Net Income Per Share Attributable to REX Common Shareholders (Tables)	3 Months Ended
	Apr. 30, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following table reconciles the computation of basic and diluted net income per share for the periods presented (in thousands, except per share amounts): Three Months Ended Three Months Ended April 30, 2016 April 30, 2015 Income Shares Per Income Shares Per Basic net income per share attributable to REX common shareholders $ 2,838 6,573 $ 0.43 $ 3,927 7,900 $ 0.50 Effect of restricted stock — 21 — — Diluted net income per share attributable to REX common shareholders $ 2,838 6,594 $ 0.43 $ 3,927 7,900 $ 0.50

Investments (Tables)

Investments (Tables)	3 Months Ended
	Apr. 30, 2016
Investments And Deposits [Abstract]
Equity Method Investments [Table Text Block]	The following table summarizes equity method investments at April 30, 2016 and January 31, 2016 (amounts in thousands): Entity Ownership Percentage Carrying Amount April 30, 2016 Carrying Amount January 31, 2016 Big River 9.7 % $ 38,940 $ 38,707
Schedule Of Income Loss Recognized From Equity Method Investments [Table Text Block]	The following table summarizes income recognized from equity method investments for the periods presented (amounts in thousands): Three Months Ended 2016 2015 Big River $ 233 $ 1,007 Patriot (sold June 1, 2015) — 473 Total $ 233 $ 1,480
Schedule of Financial Information for Equity Method Investments [Table Text Block]	Summarized financial information for each of the Company’s equity method investees is presented in the following table for the periods presented (amounts in thousands): Three Months Ended Three Months Ended Patriot (1) Big River Patriot (1) Big River Net sales and revenue $ — $ 183,571 $ 63,239 $ 184,806 Gross profit $ — $ 5,870 $ 3,818 $ 10,805 Income from continuing operations $ — $ 2,404 $ 1,779 $ 10,377 Net income $ — $ 2,404 $ 1,779 $ 10,377 (1) The Company’s equity interest in Patriot was sold June 1, 2015.

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Apr. 30, 2016
Income Tax Disclosure [Abstract]
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	A reconciliation of the beginning and ending amount of unrecognized tax benefits, including interest and penalties, is as follows (amounts in thousands): Unrecognized tax benefits, January 31, 2016 $ 987 Changes for prior years’ tax positions — Changes for current year tax positions — Unrecognized tax benefits, April 30, 2016 $ 987

Net Sales and Revenue (Tables)

Net Sales and Revenue (Tables)	3 Months Ended
	Apr. 30, 2016
Net Sales And Revenue [Abstract]
Revenue from External Customers by Products and Services [Table Text Block]	The following table summarizes sales for each product and service group for the periods presented (amounts in thousands): Three Months Ended April 30, Product or Service Category 2016 2015 Ethanol $ 77,631 $ 78,572 Dried distillers grains 17,054 20,251 Non-food grade corn oil 3,846 3,959 Modified distillers grains 1,564 2,305 Other 127 110 Total $ 100,222 $ 105,197

Consolidated Condensed Financ35

Consolidated Condensed Financial Statements (Details)	3 Months Ended
	Apr. 30, 2016
Disclosure Text Block [Abstract]
Number of Reportable Segments	1
Number of Ethanol Entities Under Ownership Interest	3
Number of Ethanol Entities Under Majority Ownership Interest	2

Accounting Policies (Details)

Accounting Policies (Details)	3 Months Ended
	Apr. 30, 2016USD ($)	Jan. 31, 2016USD ($)	Apr. 30, 2015USD ($)
Accounting Policies (Details) [Line Items]
Income Taxes Paid	$ 0		$ 0
Unrecognized Tax Benefits	987,000	$ 987,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	0	0
Inventory Write-down	$ 0	$ 0
Property, Plant and Equipment, Depreciation Methods	Depreciation is computed using the straight-line method.
Impairment of Real Estate	$ 0		$ 125,000
Number of Ethanol Entities Under Majority Ownership Interest	2
Minimum [Member] | Building and Building Improvements [Member]
Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Useful Life	15 years
Minimum [Member] | Fixtures And Equipment [Member]
Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Useful Life	2 years
Maximum [Member] | Building and Building Improvements [Member]
Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Maximum [Member] | Fixtures And Equipment [Member]
Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Useful Life	20 years
Cost of Sales [Member]
Accounting Policies (Details) [Line Items]
Maximum Percentage of Equity Ownership Interest Which May be Considered for Equity Method of Accounting	20.00%

Accounting Policies (Details) -

Accounting Policies (Details) - Schedule of components of inventory - USD ($) $ in Thousands	Apr. 30, 2016	Jan. 31, 2016
Schedule of components of inventory [Abstract]
Ethanol and other finished goods	$ 4,945	$ 3,105
Work in process	2,711	2,652
Grain and other raw materials	18,076	11,421
Total	$ 25,732	$ 17,178

Leases (Details) - Schedule of

Leases (Details) - Schedule of Future Minimum Rental Payments for Operating Leases $ in Thousands	Apr. 30, 2016USD ($)
Schedule of Future Minimum Rental Payments for Operating Leases [Abstract]
Remainder of 2017	$ 5,505
2,018	6,575
2,019	5,845
2,020	4,341
2,021	2,778
Thereafter	4,169
Total	$ 29,213

Fair Value (Details) - Schedule

Fair Value (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis - USD ($) $ in Thousands		Apr. 30, 2016	Jan. 31, 2016
Fair Value (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Commodity futures (1)	[1]	$ 92
Investment in cooperative (2)	[2]	333	$ 333
Total assets		425
Forward purchase contract liability (3)	[3]	3	$ 312
Fair Value, Inputs, Level 1 [Member]
Fair Value (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Commodity futures (1)	[1]	$ 92
Investment in cooperative (2)	[2]
Total assets		$ 92
Forward purchase contract liability (3)	[3]
Fair Value, Inputs, Level 2 [Member]
Fair Value (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Commodity futures (1)	[1]
Investment in cooperative (2)	[2]
Forward purchase contract liability (3)	[3]	$ 3	$ 312
Fair Value, Inputs, Level 3 [Member]
Fair Value (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Commodity futures (1)	[1]
Investment in cooperative (2)	[2]	$ 333	$ 333
Total assets		$ 333
Forward purchase contract liability (3)	[3]
[1]	Commodity futures are included in "Prepaid expenses and other current assets" on the accompanying Consolidated Condensed Balance Sheets.
[2]	The investment in cooperative is included in "Other assets" on the accompanying Consolidated Condensed Balance Sheets.
[3]	The forward purchase contract liability is included in "Accrued expenses and other current liabilities" on the accompanying Consolidated Condensed Balance Sheets.

Property and Equipment (Details

Property and Equipment (Details) - Schedule of Property Plant and Equipment - USD ($) $ in Thousands	Apr. 30, 2016	Jan. 31, 2016
Schedule of Property Plant and Equipment [Abstract]
Land and improvements	$ 21,598	$ 21,598
Buildings and improvements	24,543	24,543
Machinery, equipment and fixtures	240,893	237,735
Construction in progress	6,936	6,094
	293,970	289,970
Less: accumulated depreciation	(104,761)	(99,994)
Total	$ 189,209	$ 189,976

Other Assets (Details) - Schedu

Other Assets (Details) - Schedule of Other Assets - USD ($) $ in Thousands	Apr. 30, 2016	Jan. 31, 2016
Schedule of Other Assets [Abstract]
Real estate taxes refundable	$ 5,091	$ 5,091
Deposits	664	664
Other	937	887
Total	$ 6,692	$ 6,642

Accrued Expenses and Other Cu42

Accrued Expenses and Other Current Liabilities (Details) - Schedule of accrued expenses and other current liabilities - USD ($) $ in Thousands	Apr. 30, 2016	Jan. 31, 2016
Schedule of accrued expenses and other current liabilities [Abstract]
Accrued utility charges	$ 1,695	$ 2,094
Accrued payroll and related items	1,732	3,760
Accrued real estate taxes	2,703	2,564
Other	828	1,005
Total	$ 6,958	$ 9,423

Revolving Lines of Credit (Deta

Revolving Lines of Credit (Details) $ in Millions	3 Months Ended
	Apr. 30, 2016USD ($)
Debt Disclosure [Abstract]
Line of Credit, Current	$ 10
Debt Instrument, Maturity Date	Apr. 1, 2017
Line of Credit Facility, Interest Rate Description	LIBOR rate plus 250 basis points

Stock-Based Compensation (Detai

Stock-Based Compensation (Details)	Apr. 30, 2016USD ($)shares
Share-based Arrangements with Employees and Nonemployees [Abstract]
Common Stock, Capital Shares Reserved for Future Issuance | shares	550,000
Unrecognized Compensation Cost Related to Nonvested Restricted Stock | $	$ 121,000

Stock-Based Compensation (Det45

Stock-Based Compensation (Details) - Schedule of Non-Vested Stock Award Activity - $ / shares shares in Thousands, $ / shares in Thousands	3 Months Ended
	Apr. 30, 2016	Jan. 31, 2016
Schedule of Non-Vested Stock Award Activity [Abstract]
Non-Vested Shares	3,168	3,168
Weighted-Average Grant Date Fair Value	$ 200	$ 200
Weighted-Average Vesting Term	2 years

Derivative Financial Instrume46

Derivative Financial Instruments (Details)	3 Months Ended
	Apr. 30, 2016USD ($)bu	Apr. 30, 2015USD ($)bu
Disclosure Text Block Supplement [Abstract]
Derivative, Nonmonetary Notional Amount, Volume | bu	2,500,000	35,000
Quantity of Bushels under Forward Purchase Contract | bu	600,000
Debt Instrument, Collateral Amount | $	$ 520,000
Gain on Derivative Instruments, Pretax | $	$ 488,000	$ 0

Derivative Financial Instrume47

Derivative Financial Instruments (Details) - Schedule of Fair Values for Derivative Financial Instruments - USD ($) $ in Thousands		Apr. 30, 2016	Apr. 30, 2015
Commodity Contract [Member]
Derivative Financial Instruments (Details) - Schedule of Fair Values for Derivative Financial Instruments [Line Items]
Asset Derivatives, Fair Value	[1]	$ 93	$ 8
Liability Derivatives, Fair Value	[1]
Forward Contracts [Member]
Derivative Financial Instruments (Details) - Schedule of Fair Values for Derivative Financial Instruments [Line Items]
Asset Derivatives, Fair Value	[2]
Liability Derivatives, Fair Value	[2]	$ 3
[1]	Commodity futures are included in other prepaid expense and other current assets. These futures contracts are for approximately 2.5 million bushels of corn at April 30, 2016 and approximately 35,000 bushels of corn at April 30, 2015.
[2]	Forward purchase contracts are included in accrued expenses and other current liabilities. These contracts are for purchases of approximately 0.6 million bushels of corn.

Net Income Per Share Attribut48

Net Income Per Share Attributable to REX Common Shareholders (Details) - Schedule of Earnings Per Share, Basic and Diluted - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 30, 2016	Apr. 30, 2015
Schedule of Earnings Per Share, Basic and Diluted [Abstract]
Basic net income per share attributable to REX common shareholders (in Dollars)	$ 2,838	$ 3,927
Basic net income per share attributable to REX common shareholders	6,573	7,900
Basic net income per share attributable to REX common shareholders (in Dollars per share)	$ 0.43	$ 0.50
Effect of restricted stock	21
Diluted net income per share attributable to REX common shareholders (in Dollars)	$ 2,838	$ 3,927
Diluted net income per share attributable to REX common shareholders	6,594	7,900
Diluted net income per share attributable to REX common shareholders (in Dollars per share)	$ 0.43	$ 0.50

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Jan. 31, 2016	Jun. 01, 2015
Investments (Details) [Line Items]
Proceeds from Equity Method Investment, Dividends or Distributions		$ (3,634)
Gain (Loss) on Sale of Investments	$ (192)
Related to Estimated Escrow Proceeds [Member]
Investments (Details) [Line Items]
Accounts Receivable, Net	2,300
Patriot And Big River [Member]
Investments (Details) [Line Items]
Retained Earnings, Undistributed Earnings from Equity Method Investees	18,900		$ 18,700
Proceeds from Equity Method Investment, Dividends or Distributions		$ 3,600
Big River [Member]
Investments (Details) [Line Items]
Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries	309,900		$ 306,300
Patriot [Member]
Investments (Details) [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired				100.00%
Proceeds from Payment for Escrow Holdbacks and Adjustments	2,300
Gain (Loss) on Sale of Investments	$ 200

Investments (Details) - Schedul

Investments (Details) - Schedule of Equity Method Investments - USD ($) $ in Thousands	Apr. 30, 2016	Jan. 31, 2016
Schedule of Equity Method Investments [Line Items]
Big River	$ 38,940	$ 38,707
Big River [Member]
Schedule of Equity Method Investments [Line Items]
Big River	9.70%
Big River	$ 38,940	$ 38,707

Investments (Details) - Sched51

Investments (Details) - Schedule of Income Recognized from Equity Method Investments - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2016	Apr. 30, 2015
Investments (Details) - Schedule of Income Recognized from Equity Method Investments [Line Items]
Income From Equity Method Investments	$ 233	$ 1,480
Big River [Member]
Investments (Details) - Schedule of Income Recognized from Equity Method Investments [Line Items]
Income From Equity Method Investments	$ 233	1,007
Patriot [Member]
Investments (Details) - Schedule of Income Recognized from Equity Method Investments [Line Items]
Income From Equity Method Investments		$ 473

Investments (Details) - Sched52

Investments (Details) - Schedule of Financial information For Equity Method Investment - USD ($) $ in Thousands		3 Months Ended
		Apr. 30, 2016	Apr. 30, 2015
Patriot [Member]
Investments (Details) - Schedule of Financial information For Equity Method Investment [Line Items]
Net sales and revenue	[1]		$ 63,239
Gross profit	[1]		3,818
Income from continuing operations	[1]		1,779
Net income	[1]		1,779
Big River [Member]
Investments (Details) - Schedule of Financial information For Equity Method Investment [Line Items]
Net sales and revenue		$ 183,571	184,806
Gross profit		5,870	10,805
Income from continuing operations		2,404	10,377
Net income		$ 2,404	$ 10,377
[1]	The Company's equity interest in Patriot was sold June 1, 2015.

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Apr. 30, 2016	Apr. 30, 2015
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Tax Settlement, Percent	30.40%	35.20%

Income Taxes (Details) - Schedu

Income Taxes (Details) - Schedule of Unrecognized Tax Benefits Roll Forward	Apr. 30, 2016USD ($)
Schedule of Unrecognized Tax Benefits Roll Forward [Abstract]
Unrecognized tax benefits, January 31, 2016	$ 987,000
Unrecognized tax benefits, April 30, 2016	$ 987,000

Commitments and Contingencies (

Commitments and Contingencies (Details) lb in Millions, gal in Millions, bu in Millions	9 Months Ended
	Oct. 31, 2015	Apr. 30, 2016Tlbbugal
Commitments and Contingencies (Details) [Line Items]
Quantity of Bushels under Forward Purchase Contract		0.6
One Earth Energy And Nu Gen Energy [Member]
Commitments and Contingencies (Details) [Line Items]
Quantity of Bushels under Forward Purchase Contract		14
Quantity of Ethanol under Sales Commitment | gal		47.1
Quantity of Distillers Grains Under Sales Commitment | T		52,000
Quantity of Non-food Grade Corn Oil Under Sales Commitments | lb		8.1
Supply Commitment Expected Period Of Delivery	They expect to deliver the ethanol, distillers grains and non-food grade corn oil through July 2016.

Net Sales and Revenue (Details)

Net Sales and Revenue (Details) - Schedule of Net Sales and Revenue for Each Product and Service Group - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2016	Apr. 30, 2015
Revenue from External Customer [Line Items]
Product or Service	$ 100,222	$ 105,197
Ethanol [Member]
Revenue from External Customer [Line Items]
Product or Service	77,631	78,572
Dried distillers grains [Member]
Revenue from External Customer [Line Items]
Product or Service	17,054	20,251
Non-food grade corn oil [Member]
Revenue from External Customer [Line Items]
Product or Service	3,846	3,959
Modified distillers grains [Member]
Revenue from External Customer [Line Items]
Product or Service	1,564	2,305
Other [Member]
Revenue from External Customer [Line Items]
Product or Service	$ 127	$ 110

Related-Party Transactions (Det

Related-Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2016	Apr. 30, 2015
One Earth Energy And Nu Gen Energy [Member]
Related-Party Transactions (Details) [Line Items]
Costs and Expenses, Related Party	$ 44.4	$ 38.1