REX American Resources (REX) 10-Q 6 Dec 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Oct. 31, 2017	Dec. 05, 2017
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		6,566,769
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	Oct. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 31, 2017	Jan. 31, 2017
Current assets:
Cash and cash equivalents	$ 190,460	$ 188,576
Restricted cash	230	130
Accounts receivable	9,801	11,901
Inventory	24,145	17,057
Refundable income taxes	977	1,070
Prepaid expenses and other	6,828	6,959
Deferred taxes, net		824
Total current assets	232,441	226,517
Property and equipment, net	198,959	182,761
Other assets	7,190	6,913
Equity method investments	35,755	37,833
Total assets	474,345	454,024
Current liabilities:
Accounts payable, trade	11,778	9,171
Accrued expenses and other current liabilities	11,223	13,348
Total current liabilities	23,001	22,519
Long-term liabilities:
Deferred taxes	34,629	41,135
Other long-term liabilities	3,343	2,096
Total long-term liabilities	37,972	43,231
REX shareholders’ equity:
Common stock	299	299
Paid-in capital	146,887	145,767
Retained earnings	528,860	508,207
Treasury stock	(313,650)	(313,838)
Total REX shareholders’ equity	362,396	340,435
Noncontrolling interests	50,976	47,839
Total equity	413,372	388,274
Total liabilities and equity	$ 474,345	$ 454,024

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2017	Oct. 31, 2016
Net sales and revenue	$ 121,164	$ 116,283	$ 343,051	$ 332,212
Cost of sales	106,297	96,121	304,914	286,344
Gross profit	14,867	20,162	38,137	45,868
Selling, general and administrative expenses	(7,347)	(5,082)	(17,528)	(14,315)
Equity in income of unconsolidated affiliates	1,094	1,838	1,931	3,257
(Loss) gain on sale of investment			(13)	192
(Loss) gain on disposal of property and equipment, net	(100)	179	(87)	364
Interest and other income	745	117	1,294	374
Income before income taxes	9,259	17,214	23,734	35,740
Benefit (provision) for income taxes	5,735	(5,740)	1,043	(11,771)
Net income	14,994	11,474	24,777	23,969
Net income attributable to noncontrolling interests	(1,826)	(2,536)	(4,124)	(4,017)
Net income attributable to REX common shareholders	$ 13,168	$ 8,938	$ 20,653	$ 19,952
Weighted average shares outstanding – basic and diluted (in Shares)	6,597	6,590	6,594	6,591
Basic and diluted net income per share attributable to REX common shareholders (in Dollars per share)	$ 2	$ 1.36	$ 3.13	$ 3.03

CONSOLIDATED CONDENSED STATEME4

CONSOLIDATED CONDENSED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
Balance at Jan. 31, 2016	$ 299	$ (309,754)	$ 144,844	$ 475,874	$ 44,496	$ 355,759
Balance (in Shares) at Jan. 31, 2016	29,853	23,204
Net income				19,952	4,017	23,969
Treasury stock acquired		$ (4,353)				(4,353)
Treasury stock acquired (in Shares)		88
Stock based compensation expense		$ 263	900			1,163
Noncontrolling interests distribution and other					(2,096)	(2,096)
Balance at Oct. 31, 2016	$ 299	$ (313,844)	145,744	495,826	46,417	374,442
Balance (in Shares) at Oct. 31, 2016	29,853	23,292
Balance at Jan. 31, 2017	$ 299	$ (313,838)	145,767	508,207	47,839	388,274
Balance (in Shares) at Jan. 31, 2017	29,853	23,292
Net income				20,653	4,124	24,777
Capital contributions					738	738
Issuance of equity awards and stock based compensation expense		$ 188	1,120			1,308
Issuance of equity awards and stock based compensation expense (in Shares)		(5)
Noncontrolling interests distribution and other					(1,725)	(1,725)
Balance at Oct. 31, 2017	$ 299	$ (313,650)	$ 146,887	$ 528,860	$ 50,976	$ 413,372
Balance (in Shares) at Oct. 31, 2017	29,853	23,287

CONSOLIDATED CONDENSED STATEME5

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2017	Oct. 31, 2016
Cash flows from operating activities:
Net income including noncontrolling interests	$ 24,777	$ 23,969
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	15,695	14,567
Income from equity method investments	(1,931)	(3,257)
Dividends received from equity method investee	4,009	4,010
Loss (gain) on disposal of real estate and property and equipment, net	87	(364)
Loss (gain) on sale of investment	13	(192)
Deferred income tax	(5,682)	(1,019)
Stock based compensation expense	881	68
Changes in assets and liabilities:
Accounts receivable	2,023	(1,686)
Inventories	(7,039)	(2,305)
Other assets	(222)	2,758
Accounts payable, trade	2,195	1,653
Other liabilities	(746)	3,157
Net cash provided by operating activities	34,060	41,359
Cash flows from investing activities:
Capital expenditures	(19,315)	(11,836)
Acquisition of business, net of cash acquired	(12,049)
Restricted cash	(100)	8
Restricted investments and deposits	150	460
Proceeds from sale of investment	64	2,275
Proceeds from sale of real estate and property and equipment, net	42	1,510
Other	19	17
Net cash used in investing activities	(31,189)	(7,566)
Cash flows from financing activities:
Dividend payments to and purchases of stock from noncontrolling interests holders	(1,725)	(2,096)
Capital contributions from minority investor	738
Treasury stock acquired		(4,709)
Net cash used in financing activities	(987)	(6,805)
Net increase in cash and cash equivalents	1,884	26,988
Cash and cash equivalents, beginning of period	188,576	135,765
Cash and cash equivalents, end of period	190,460	162,753
Non cash investing activities – Accrued capital expenditures	1,049	1,183
Non cash financing activities – Stock awards accrued	768
Non cash financing activities – Stock awards issued	$ 1,195	$ 1,095

CONSOLIDATED CONDENSED FINANCIA

CONSOLIDATED CONDENSED FINANCIAL STATEMENTS	9 Months Ended
	Oct. 31, 2017
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, 2017 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, 2017 (fiscal year 2016). 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, 2017. 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 – In the third quarter of fiscal year 2017, the Company began reporting the results of its refined coal operation as a new segment as a result of the August 10, 2017 acquisition of an entity that operates a refined coal facility (see Note 3). Prior to the acquisition, the Company had one reportable segment, ethanol. Beginning with the third quarter of fiscal year 2017, the Company has two reportable segments: i) ethanol and by-products and ii) refined coal. Within the ethanol and by-products segment, the Company has equity investments in three ethanol limited liability companies, two of which are majority ownership interests. Within the refined coal segment, the Company has a majority equity interest in one refined coal limited liability company.

ACCOUNTING POLICIES

ACCOUNTING POLICIES	9 Months Ended
	Oct. 31, 2017
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 2016 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 For ethanol and by-products segment sales, 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. For refined coal segment sales, the Company recognizes sales from the production of refined coal when title transfers to its customer, generally upon the coal leaving the refined coal plant. Refined coal sales are recorded net of the cost of coal as the Company purchases the coal feedstock from the customer to which refined coal is sold (after processing). 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 compensations 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 Certain 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. The changes in fair value of these derivative financial instruments are recognized in current period earnings as the Company does not use hedge accounting. Income Taxes The Company applies an effective tax rate to interim periods that is consistent with the Company’s estimated annual effective tax rate as adjusted for discrete items impacting the interim periods. The Company’s estimated annual effective tax rate includes the impact of its refined coal operation and the expected federal income tax credits to be earned in fiscal year 2017 beginning on the date of the refined coal acquisition (see Note 3). Based on current projections, the Company has estimated that its annual effective tax rate will be a tax benefit of approximately 4%, which is significantly less than prior estimates. As a result of the timing of the August 10, 2017 refined coal acquisition, the Company’s effective tax rate for the quarter ended October 31, 2017 was a benefit of approximately 62% (as the cumulative effect of the reduced annual effective tax rate was recorded in the third quarter of fiscal year 2017), which then results in a year to date effective rate of a benefit of approximately 4%. 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 income taxes of approximately $6.8 million and $5.1 million during the nine months ended October 31, 2017 and 2016, respectively. The Company received refunds of state income taxes of approximately $0.5 million during the nine months ended October 31, 2017. The Company received no refunds of income taxes during the nine months ended October 31, 2016. As of October 31, 2017 and January 31, 2017, total unrecognized tax benefits were approximately $2.0 million and $1.9 million, respectively. Accrued penalties and interest were approximately $0.3 million and $0.2 million at October 31, 2017 and January 31, 2017, respectively. If the Company were to prevail on all unrecognized tax benefits recorded, the provision for income taxes would be reduced by approximately $1.3 million. In addition, the impact of penalties and interest would also benefit the effective tax rate. Interest and penalties associated with unrecognized tax benefits are recorded within income tax expense. On a quarterly 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 and refined coal. 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 October 31, 2017 and January 31, 2017. 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): October 31, January 31, 2017 Ethanol and other finished goods $ 5,144 $ 5,262 Work in process 2,881 2,359 Grain and other raw materials 16,120 9,436 Total $ 24,145 $ 17,057 Property and Equipment Property and equipment is recorded at cost or the fair value on the date of acquisition (for property and equipment acquired in a business combination). 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 four majority owned subsidiaries, One Earth Energy, LLC (“One Earth”), NuGen Energy, LLC (“NuGen”), Future Energy, LLC (“Future Energy”) and an entity that owns a refined coal facility. 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 and the refined coal entity have the same fiscal year as the parent, and therefore, there is no lag in reporting the results of NuGen or the refined coal entity. 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”) 2016-09, “ Improvements to Employee Share-Based Payment Accounting In February 2016, the FASB issued ASU 2016-02 “ Leases The Company will be required to adopt the amended guidance in ASC Topic 606 “ Revenue from Contracts with Customers In November 2015, the FASB issued ASU 2015-17 “ Balance Sheet Classification of Deferred Taxes

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	9 Months Ended
	Oct. 31, 2017
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Note 3. Business Combinations On August 10, 2017, the Company, through a 95.35% owned subsidiary, purchased the entire ownership interest of an entity that owns a refined coal facility. The Company began operating its refined coal facility immediately after the acquisition. The Company expects that the revenues from the sale of refined coal produced in the facility will be subsidized by federal production tax credits through November 2021, subject to meeting qualified emissions reductions as governed by Section 45 of the Internal Revenue Code. The impact on the combined results of operations of the Company and the refined coal entity, on a pro forma basis, as though the companies had been combined as of the beginning of fiscal year 2016 is as follows: Cost of sales would have increased by approximately $692,000 for the quarter ended October 31, 2016. Cost of sales would have increased by approximately $1,385,000 and $2,077,000 for the nine months ended October 31, 2017 and 2016, respectively. These pro forma increases are a result of increased depreciation expense as if the refined coal entity was consolidated during those periods. Selling, general and administrative expenses would have decreased by approximately $2,077,000 and $2,140,000 for the quarter and nine months ended October 31, 2017, respectively. Selling, general and administrative expenses would have increased by approximately $2,140,000 for the nine months ended October 31, 2016. These pro forma adjustments are a result of transaction costs occurring (on a pro forma basis) during the first quarter of fiscal year 2016. The benefit for income taxes would have increased by approximately $789,000 and $287,000 for the quarter and nine months ended October 31, 2017, respectively. The provision for income taxes would have decreased by approximately $263,000 and $1,602,000 for the quarter and nine months ended October 31, 2016, respectively. Net income attributable to REX common shareholders would have increased by approximately $1,228,000 and $447,000 for the quarter and nine months ended October 31, 2017, respectively. Net income attributable to REX common shareholders would have decreased by approximately $409,000 and $2,493,000 for the quarter and nine months ended October 31, 2016, respectively. Basic and diluted net income per share attributable to REX common shareholders would have increased by approximately $0.19 per share and $0.07 per share for the quarter and nine months ended October 31, 2017, respectively. Basic and diluted net income per share attributable to REX common shareholders would have decreased by approximately $0.06 per share and $0.38 per share for the quarter and nine months ended October 31, 2016, respectively. The results of the Company’s refined coal operations (approximately $0.2 million of net sales and revenue and approximately $4.5 million of net income attributable to REX common shareholders, including the income tax benefit of estimated Section 45 credits to be earned) have been included in the consolidated financial statements subsequent to the acquisition date and are included in the Company’s refined coal segment. The purchase price was $12,049,000, which was paid in cash. The acquisition was recorded by allocating the total purchase price to the assets acquired, based on their estimated fair values at the acquisition date. The purchase price allocation is based on the preliminary results of a valuation analysis. The purchase price allocation is preliminary until the valuation analysis is completed. The income approach was used to determine the fair values of assets acquired. The following table summarizes the estimated fair values of the assets acquired at the acquisition date (amounts in thousands): Inventory $ 49 Property, plant and equipment 12,000 Total assets acquired and purchase price $ 12,049 Transaction costs totaled approximately $2.1 million during the first nine months of fiscal year 2017 and are included in selling, general and administrative expenses in the Condensed Consolidated Statement of Operations.

LEASES

LEASES	9 Months Ended
	Oct. 31, 2017
Leases [Abstract]
Leases of Lessor Disclosure [Text Block]	Note 4. Leases At October 31, 2017, 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 2018 $ 1,774 2019 6,910 2020 5,700 2021 3,931 2022 3,299 Thereafter 3,026 Total $ 24,640

FAIR VALUE

FAIR VALUE	9 Months Ended
	Oct. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Note 5. Fair Value The Company applies ASC 820, “ Fair Value Measurements and Disclosures” 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 judgment 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 October 31, 2017 are summarized below (amounts in thousands): Level 1 Level 2 Level 3 Fair Value Commodity futures (1) $ - $ 120 $ - $ 120 Investment in cooperative (2) - - 333 333 Total assets $ - $ 120 $ 333 $ 453 Forward purchase contract liability (3) $ - $ 287 $ - $ 287 Financial assets and liabilities measured at fair value on a recurring basis at January 31, 2017 are summarized below (amounts in thousands): Level 1 Level 2 Level 3 Fair Value Commodity futures (1) $ - $ 45 $ - $ 45 Forward purchase contract asset (4) - 163 - 163 Investment in cooperative (2) - - 333 333 Total assets $ - $ 208 $ 333 $ 541 Forward purchase contract liability (3) $ - $ 136 $ - $ 136 (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. (4) The forward purchase contract asset is included in “Prepaid expenses and other current assets” 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 October 31, 2017 or January 31, 2017. As discussed in Note 3, the Company estimated the fair values of refined coal assets acquired using the income approach. This estimated fair value is a level 3 measurement.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	9 Months Ended
	Oct. 31, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	Note 6. Property and Equipment The components of property and equipment are as follows for the periods presented (amounts in thousands): October 31, January 31, 2017 Land and improvements $ 21,074 $ 20,951 Buildings and improvements 23,272 23,203 Machinery, equipment and fixtures 280,986 255,348 Construction in progress 6,590 1,046 331,922 300,548 Less: accumulated depreciation (132,963 ) (117,787 ) Total $ 198,959 $ 182,761

OTHER ASSETS

OTHER ASSETS	9 Months Ended
	Oct. 31, 2017
Disclosure Text Block Supplement [Abstract]
Other Assets Disclosure [Text Block]	Note 7. Other Assets The components of other assets are as follows for the periods presented (amounts in thousands): October 31, 2017 January 31, 2017 Real estate taxes refundable $ 6,450 $ 5,923 Deposits 5 155 Other 735 835 Total $ 7,190 $ 6,913 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	9 Months Ended
	Oct. 31, 2017
Disclosure Text Block Supplement [Abstract]
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	Note 8. 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): October 31, January 31, 2017 Accrued utility charges $ 2,097 $ 2,414 Accrued payroll and related items 2,855 4,279 Accrued real estate taxes 1,966 2,716 Accrued income taxes 52 2,120 Other 4,253 1,819 Total $ 11,223 $ 13,348

REVOLVING LINES OF CREDIT

REVOLVING LINES OF CREDIT	9 Months Ended
	Oct. 31, 2017
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Note 9. Revolving Lines of Credit Effective April 1, 2016, One Earth and NuGen each entered into $10.0 million revolving loan facilities that matured April 1, 2017. During the second quarter of fiscal year 2017, One Earth and NuGen renewed the revolving loan facilities, which now mature June 1, 2018. Neither One Earth nor NuGen had outstanding borrowings on the revolving loans during the nine months ended October 31, 2017 and 2016.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	9 Months Ended
	Oct. 31, 2017
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 following table provides information about the fair values of the Company’s derivative financial instruments (that are not accounted for under the “normal purchases and normal sales” scope exemption of ASC 815) and the line items on the Consolidated Condensed Balance Sheets in which the fair values are reflected (in thousands): Asset Derivatives Liability Derivatives Fair Value Fair Value October 31, 2017 January 31, 2017 October 31, 2017 January 31, 2017 Commodity futures (1) $ 120 $ 45 $ - $ - Forward purchase contracts (2) - 163 287 136 Total $ 120 $ 208 $ 287 $ 136 (1) Commodity futures are included in prepaid expenses and other current assets. These contracts are short/sell positions for approximately 1.5 million and 0.7 million bushels of corn at October 31, 2017 and January 31, 2017, respectively. (2) Forward purchase contracts assets are included in prepaid expenses and other current assets while forward purchase contracts liabilities are included in accrued expenses and other current liabilities. These contracts are for purchases of approximately 4.7 million and 5.3 million bushels of corn at October 31, 2017 and January 31, 2017, respectively. As of October 31, 2017, 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 October 31, 2017, 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 October 31, 2017, the Company was required to maintain collateral with the counterparty in the amount of approximately $230,000 to secure the Company’s derivative position. See Note 4 which contains fair value information related to derivative financial instruments. Gains on the Company’s derivative financial instruments of approximately $75,000 and $115,000 for the third quarters of fiscal years 2017 and 2016, respectively, were included in cost of sales on the Consolidated Condensed Statements of Operations. Gains on the Company’s derivative financial instruments of approximately $1,052,000 and $1,740,000 for the first nine months of fiscal years 2017 and 2016, respectively, were included in cost of sales on the Consolidated Condensed Statements of Operations.

INVESTMENTS

INVESTMENTS	9 Months Ended
	Oct. 31, 2017
Investments Schedule [Abstract]
Investment [Text Block]	Note 11. Investments The following table summarizes the Company’s equity method investment at October 31, 2017 and January 31, 2017 (dollars in thousands): Entity Ownership Percentage Carrying Amount October 31, 2017 Carrying Amount Big River 10.3% at October 31, 2017 and 9.7% at January 31, 2017 $35,755 $37,833 Undistributed earnings of the Company’s equity method investee totaled approximately $15.7 million and $17.8 million at October 31, 2017 and January 31, 2017, respectively. The Company received dividends from its equity method investee of approximately $4.0 million during the first nine months of fiscal years 2017 and 2016. Summarized financial information for the Company’s equity method investee is presented in the following table for the periods presented (amounts in thousands): Three Months Ended Nine Months Ended 2017 2016 2017 2016 Net sales and revenue $ 201,621 $ 216,505 $ 606,190 $ 611,050 Gross profit $ 18,620 $ 26,191 $ 38,363 $ 49,119 Income from continuing operations $ 11,010 $ 18,934 $ 19,628 $ 33,555 Net income $ 11,010 $ 18,934 $ 19,628 $ 33,555 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 October 31, 2017 and January 31, 2017 are approximately $276.4 million and $278.7 million, respectively. On June 1, 2015, Patriot Holdings, LLC (“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. The Company does not expect any further proceeds or gain/loss on sale of investment to be significant.

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS	9 Months Ended
	Oct. 31, 2017
Disclosure Text Block Supplement [Abstract]
Compensation and Employee Benefit Plans [Text Block]	Note 12. Employee Benefits The Company maintains the REX 2015 Incentive 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 liability and equity awards in its consolidated financial statements over the requisite service period on a straight-line basis. At October 31, 2017, 511,174 shares remain available for issuance under the Plan. As a component of their compensation, restricted stock has been granted to directors at the closing 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 closing market price of REX common stock. At October 31, and January 31, 2017, unrecognized compensation cost related to nonvested restricted stock was approximately $277,000 and $214,000, respectively. The following table summarizes non-vested restricted stock award activity for the nine months ended October 31, 2017 and 2016: Nine Months Ended October 31, 2017 Weighted Weighted Average Grant Average Remaining Non-Vested Date Fair Value Vesting Term Shares (000’s) (in years) Non-Vested at January 31, 2017 23,350 $ 1,386 2 Granted 14,156 1,370 Forfeited - - Vested 8,091 481 Non-Vested at October 31, 2017 29,415 $ 2,275 2 Nine Months Ended October 31, 2016 Weighted Weighted Average Grant Average Remaining Non-Vested Date Fair Value Vesting Term Shares (000’s) (in years) Non-Vested at January 31, 2016 3,168 $ 200 2 Granted 21,502 1,269 Forfeited - - Vested 1,320 83 Non-Vested at October 31, 2016 23,350 $ 1,386 3

INCOME TAXES

INCOME TAXES	9 Months Ended
	Oct. 31, 2017
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Note 13 . Income Taxes The Company files a U.S. federal income tax return and various state income tax returns. 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): Nine Months Ended 2017 2016 Unrecognized tax benefits, beginning of period $ 2,096 $ 987 Changes for prior years’ tax positions 247 749 Changes for current year tax positions - 491 Unrecognized tax benefits, end of period $ 2,343 $ 2,227

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Oct. 31, 2017
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 adverse effect on the Company’s Consolidated Condensed Financial Statements. One Earth and NuGen have combined forward purchase contracts for approximately 9.1 million bushels of corn, the principal raw material for their ethanol plants. They expect to take delivery of the grain through March 2018. One Earth and NuGen have combined sales commitments for approximately 29.8 million gallons of ethanol, approximately 108,000 tons of distillers grains and approximately 16.7 million pounds of non-food grade corn oil. They expect to deliver the ethanol, distillers grains and non-food grade corn oil through December 2017. The refined coal entity has various agreements (site license, operating agreements, etc.) containing payment terms based upon production of refined coal under which the Company is required to pay various fees. Since refined coal production began, these fees have totaled $2.4 million.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Oct. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	Note 15. Related-Party Transactions During the third quarters of fiscal year 2017 and 2016, One Earth and NuGen purchased approximately $43.4 million and approximately $34.2 million, respectively, of corn from minority equity investors and board members of those subsidiaries. Such purchases totaled approximately $121.8 million and approximately $114.6 million for the nine months ended October 31, 2017 and 2016, respectively. The Company had amounts payable to related parties for corn purchases of approximately $2.7 million and $1.7 million at October 31, 2017 and January 31, 2017, respectively. The Company recognized commission expense of approximately $1.6 million, payable to the minority investor in the refined coal entity. The commission expense is associated with the refined coal acquisition. The Company had accrued liabilities related to the commission expense of approximately $1.5 million at October 31, 2017.

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
	Oct. 31, 2017
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Note 16. Segment Reporting In the third quarter of fiscal year 2017, the Company began reporting the results of its refined coal operations as a new segment as a result of the refined coal acquisition (see Note 3.) The Company has two segments: ethanol and by-products and refined coal. Historical amounts have been reclassified to conform to the current year segment reporting presentation. The Company evaluates the performance of each reportable segment based on net income attributable to REX common shareholders. The following table summarizes segment and other results and assets (amounts in thousands): Three Months Ended Nine Months Ended October 31, October 31, 2017 2016 2017 2016 Net sales and revenue: Ethanol and by-products $ 120,971 $ 116,283 $ 342,858 $ 332,212 Refined coal 1 193 - 193 - Total net sales and revenue $ 121,164 $ 116,283 $ 343,051 $ 332,212 Segment gross profit (loss): Ethanol and by-products $ 18,257 $ 20,162 $ 41,527 $ 45,868 Refined coal (3,390 ) - (3,390 ) - Total gross profit $ 14,867 $ 20,162 $ 38,137 $ 45,868 Three Months Ended Nine Months Ended October 31, October 31, 2017 2016 2017 2016 Income (loss) before income taxes: Ethanol and by-products $ 15,554 $ 17,682 $ 31,807 $ 37,294 Refined coal (5,684 ) - (5,684 ) - Corporate and other (611 ) (468 ) (2,389 ) (1,554 ) Total income (loss) before income taxes $ 9,259 $ 17,214 $ 23,734 $ 35,740 Benefit (provision) for income taxes: Ethanol and by-products $ (4,379 ) $ (5,917 ) $ (9,712 ) $ (12,331 ) Refined coal 2 9,918 - 9,918 - Corporate and other 196 177 837 560 Total benefit (provision) for income taxes $ 5,735 $ (5,740 ) $ 1,043 $ (11,771 ) Segment profit (loss): Ethanol and by-products $ 9,058 $ 9,209 $ 17,665 $ 20,901 Refined coal 4,520 - 4,520 - Corporate and other (410 ) (271 ) (1,532 ) (949 ) Net income attributable to REX common shareholders $ 13,168 $ 8,938 $ 20,653 $ 19,952 October 31, 2017 January 31, 2017 Assets: Ethanol and by-products $ 396,927 $ 371,465 - - Refined coal 11,937 - - - Corporate and other 65,481 82,559 - - Total assets $ 474,345 $ 454,024 - - 1 The Company records sales in the refined coal segment net of the cost of coal as the Company purchases the coal feedstock from the customer to which refined coal is sold. 2 The Company records its tax provision/benefit based on an estimated annual rate adjusted for items recorded discretely which it estimates to be approximately negative 4%. As a result of the timing of the refined coal acquisition on August 10, 2017, the Company’s effective tax rate for the quarter ended October 31, 2017 was a benefit of approximately 62%, which then results in a year to date effective rate of a benefit of approximately 4%. Three Months Ended Nine Months Ended October 31, October 31, 2017 2016 2017 2016 Sales of products, ethanol and by-products segment: Ethanol $ 96,296 $ 90,702 $ 276,553 $ 259,266 Dried distillers grains 16,703 19,551 45,325 55,551 Non-food grade corn oil 6,041 5,074 15,359 13,658 Modified distillers grains 1,889 853 5,557 3,400 Other 42 103 64 337 Total $ 120,971 $ 116,283 $ 342,858 $ 332,212 Sales of products, refined coal segment: Refined coal $ 193 $ - $ 193 $ -

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	9 Months Ended
	Oct. 31, 2017
Accounting Policies [Abstract]
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition For ethanol and by-products segment sales, 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. For refined coal segment sales, the Company recognizes sales from the production of refined coal when title transfers to its customer, generally upon the coal leaving the refined coal plant. Refined coal sales are recorded net of the cost of coal as the Company purchases the coal feedstock from the customer to which refined coal is sold (after processing).
Cost of Sales, Policy [Policy Text Block]	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 compensations costs, and general facility overhead charges
Selling, General and Administrative Expenses, Policy [Policy Text Block]	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.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Financial Instruments Certain 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. The changes in fair value of these derivative financial instruments are recognized in current period earnings as the Company does not use hedge accounting.
Income Tax, Policy [Policy Text Block]	Income Taxes The Company applies an effective tax rate to interim periods that is consistent with the Company’s estimated annual effective tax rate as adjusted for discrete items impacting the interim periods. The Company’s estimated annual effective tax rate includes the impact of its refined coal operation and the expected federal income tax credits to be earned in fiscal year 2017 beginning on the date of the refined coal acquisition (see Note 3). Based on current projections, the Company has estimated that its annual effective tax rate will be a tax benefit of approximately 4%, which is significantly less than prior estimates. As a result of the timing of the August 10, 2017 refined coal acquisition, the Company’s effective tax rate for the quarter ended October 31, 2017 was a benefit of approximately 62% (as the cumulative effect of the reduced annual effective tax rate was recorded in the third quarter of fiscal year 2017), which then results in a year to date effective rate of a benefit of approximately 4%. 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 income taxes of approximately $6.8 million and $5.1 million during the nine months ended October 31, 2017 and 2016, respectively. The Company received refunds of state income taxes of approximately $0.5 million during the nine months ended October 31, 2017. The Company received no refunds of income taxes during the nine months ended October 31, 2016. As of October 31, 2017 and January 31, 2017, total unrecognized tax benefits were approximately $2.0 million and $1.9 million, respectively. Accrued penalties and interest were approximately $0.3 million and $0.2 million at October 31, 2017 and January 31, 2017, respectively. If the Company were to prevail on all unrecognized tax benefits recorded, the provision for income taxes would be reduced by approximately $1.3 million. In addition, the impact of penalties and interest would also benefit the effective tax rate. Interest and penalties associated with unrecognized tax benefits are recorded within income tax expense. On a quarterly 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 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 and refined coal. 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 October 31, 2017 and January 31, 2017. 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): October 31, January 31, 2017 Ethanol and other finished goods $ 5,144 $ 5,262 Work in process 2,881 2,359 Grain and other raw materials 16,120 9,436 Total $ 24,145 $ 17,057
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Property and equipment is recorded at cost or the fair value on the date of acquisition (for property and equipment acquired in a business combination). 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]	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 four majority owned subsidiaries, One Earth Energy, LLC (“One Earth”), NuGen Energy, LLC (“NuGen”), Future Energy, LLC (“Future Energy”) and an entity that owns a refined coal facility. 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 and the refined coal entity have the same fiscal year as the parent, and therefore, there is no lag in reporting the results of NuGen or the refined coal entity. 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]	Comprehensive Income The Company has no components of other comprehensive income, and therefore, comprehensive income equals net income.
New Accounting Pronouncements, Policy [Policy Text Block]	Accounting Changes and Recently Issued Accounting Standards In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, “ Improvements to Employee Share-Based Payment Accounting In February 2016, the FASB issued ASU 2016-02 “ Leases The Company will be required to adopt the amended guidance in ASC Topic 606 “ Revenue from Contracts with Customers In November 2015, the FASB issued ASU 2015-17 “ Balance Sheet Classification of Deferred Taxes

ACCOUNTING POLICIES (Tables)

ACCOUNTING POLICIES (Tables)	9 Months Ended
	Oct. 31, 2017
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): October 31, January 31, 2017 Ethanol and other finished goods $ 5,144 $ 5,262 Work in process 2,881 2,359 Grain and other raw materials 16,120 9,436 Total $ 24,145 $ 17,057

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	9 Months Ended
	Oct. 31, 2017
Business Combinations [Abstract]
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	The following table summarizes the estimated fair values of the assets acquired at the acquisition date (amounts in thousands): Inventory $ 49 Property, plant and equipment 12,000 Total assets acquired and purchase price $ 12,049

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Oct. 31, 2017
Leases [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	The following table is a summary of future minimum rentals on such leases (amounts in thousands): Years Ended January 31, Minimum Rentals Remainder of 2018 $ 1,774 2019 6,910 2020 5,700 2021 3,931 2022 3,299 Thereafter 3,026 Total $ 24,640

FAIR VALUE (Tables)

FAIR VALUE (Tables)	9 Months Ended
	Oct. 31, 2017
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 October 31, 2017 are summarized below (amounts in thousands): Level 1 Level 2 Level 3 Fair Value Commodity futures (1) $ - $ 120 $ - $ 120 Investment in cooperative (2) - - 333 333 Total assets $ - $ 120 $ 333 $ 453 Forward purchase contract liability (3) $ - $ 287 $ - $ 287 Level 1 Level 2 Level 3 Fair Value Commodity futures (1) $ - $ 45 $ - $ 45 Forward purchase contract asset (4) - 163 - 163 Investment in cooperative (2) - - 333 333 Total assets $ - $ 208 $ 333 $ 541 Forward purchase contract liability (3) $ - $ 136 $ - $ 136 (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. (4) The forward purchase contract asset is included in “Prepaid expenses and other current assets” on the accompanying Consolidated Condensed Balance Sheets.

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	9 Months Ended
	Oct. 31, 2017
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): October 31, January 31, 2017 Land and improvements $ 21,074 $ 20,951 Buildings and improvements 23,272 23,203 Machinery, equipment and fixtures 280,986 255,348 Construction in progress 6,590 1,046 331,922 300,548 Less: accumulated depreciation (132,963 ) (117,787 ) Total $ 198,959 $ 182,761

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	9 Months Ended
	Oct. 31, 2017
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): October 31, 2017 January 31, 2017 Real estate taxes refundable $ 6,450 $ 5,923 Deposits 5 155 Other 735 835 Total $ 7,190 $ 6,913

ACCRUED EXPENSES AND OTHER CU29

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	9 Months Ended
	Oct. 31, 2017
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): October 31, January 31, 2017 Accrued utility charges $ 2,097 $ 2,414 Accrued payroll and related items 2,855 4,279 Accrued real estate taxes 1,966 2,716 Accrued income taxes 52 2,120 Other 4,253 1,819 Total $ 11,223 $ 13,348

DERIVATIVE FINANCIAL INSTRUME30

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Oct. 31, 2017
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 (that are not accounted for under the “normal purchases and normal sales” scope exemption of ASC 815) and the line items on the Consolidated Condensed Balance Sheets in which the fair values are reflected (in thousands): Asset Derivatives Liability Derivatives Fair Value Fair Value October 31, 2017 January 31, 2017 October 31, 2017 January 31, 2017 Commodity futures (1) $ 120 $ 45 $ - $ - Forward purchase contracts (2) - 163 287 136 Total $ 120 $ 208 $ 287 $ 136 (1) Commodity futures are included in prepaid expenses and other current assets. These contracts are short/sell positions for approximately 1.5 million and 0.7 million bushels of corn at October 31, 2017 and January 31, 2017, respectively. (2) Forward purchase contracts assets are included in prepaid expenses and other current assets while forward purchase contracts liabilities are included in accrued expenses and other current liabilities. These contracts are for purchases of approximately 4.7 million and 5.3 million bushels of corn at October 31, 2017 and January 31, 2017, respectively.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
	Oct. 31, 2017
Investments Schedule [Abstract]
Equity Method Investments [Table Text Block]	The following table summarizes the Company’s equity method investment at October 31, 2017 and January 31, 2017 (dollars in thousands): Entity Ownership Percentage Carrying Amount October 31, 2017 Carrying Amount Big River 10.3% at October 31, 2017 and 9.7% at January 31, 2017 $35,755 $37,833
Schedule of Financial Information for Equity Method Investments [Table Text Block]	Summarized financial information for the Company’s equity method investee is presented in the following table for the periods presented (amounts in thousands): Three Months Ended Nine Months Ended 2017 2016 2017 2016 Net sales and revenue $ 201,621 $ 216,505 $ 606,190 $ 611,050 Gross profit $ 18,620 $ 26,191 $ 38,363 $ 49,119 Income from continuing operations $ 11,010 $ 18,934 $ 19,628 $ 33,555 Net income $ 11,010 $ 18,934 $ 19,628 $ 33,555

EMPLOYEE BENEFITS (Tables)

EMPLOYEE BENEFITS (Tables)	9 Months Ended
	Oct. 31, 2017
Disclosure Text Block Supplement [Abstract]
Nonvested Restricted Stock Shares Activity [Table Text Block]	The following table summarizes non-vested restricted stock award activity for the nine months ended October 31, 2017 and 2016: Nine Months Ended October 31, 2017 Weighted Weighted Average Grant Average Remaining Non-Vested Date Fair Value Vesting Term Shares (000’s) (in years) Non-Vested at January 31, 2017 23,350 $ 1,386 2 Granted 14,156 1,370 Forfeited - - Vested 8,091 481 Non-Vested at October 31, 2017 29,415 $ 2,275 2 Nine Months Ended October 31, 2016 Weighted Weighted Average Grant Average Remaining Non-Vested Date Fair Value Vesting Term Shares (000’s) (in years) Non-Vested at January 31, 2016 3,168 $ 200 2 Granted 21,502 1,269 Forfeited - - Vested 1,320 83 Non-Vested at October 31, 2016 23,350 $ 1,386 3

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Oct. 31, 2017
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): Nine Months Ended 2017 2016 Unrecognized tax benefits, beginning of period $ 2,096 $ 987 Changes for prior years’ tax positions 247 749 Changes for current year tax positions - 491 Unrecognized tax benefits, end of period $ 2,343 $ 2,227

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
	Oct. 31, 2017
SEGMENT REPORTING (Tables) [Line Items]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	The following table summarizes segment and other results and assets (amounts in thousands): Three Months Ended Nine Months Ended October 31, October 31, 2017 2016 2017 2016 Net sales and revenue: Ethanol and by-products $ 120,971 $ 116,283 $ 342,858 $ 332,212 Refined coal 1 193 - 193 - Total net sales and revenue $ 121,164 $ 116,283 $ 343,051 $ 332,212 Segment gross profit (loss): Ethanol and by-products $ 18,257 $ 20,162 $ 41,527 $ 45,868 Refined coal (3,390 ) - (3,390 ) - Total gross profit $ 14,867 $ 20,162 $ 38,137 $ 45,868 Three Months Ended Nine Months Ended October 31, October 31, 2017 2016 2017 2016 Income (loss) before income taxes: Ethanol and by-products $ 15,554 $ 17,682 $ 31,807 $ 37,294 Refined coal (5,684 ) - (5,684 ) - Corporate and other (611 ) (468 ) (2,389 ) (1,554 ) Total income (loss) before income taxes $ 9,259 $ 17,214 $ 23,734 $ 35,740 Benefit (provision) for income taxes: Ethanol and by-products $ (4,379 ) $ (5,917 ) $ (9,712 ) $ (12,331 ) Refined coal 2 9,918 - 9,918 - Corporate and other 196 177 837 560 Total benefit (provision) for income taxes $ 5,735 $ (5,740 ) $ 1,043 $ (11,771 ) Segment profit (loss): Ethanol and by-products $ 9,058 $ 9,209 $ 17,665 $ 20,901 Refined coal 4,520 - 4,520 - Corporate and other (410 ) (271 ) (1,532 ) (949 ) Net income attributable to REX common shareholders $ 13,168 $ 8,938 $ 20,653 $ 19,952 Three Months Ended Nine Months Ended October 31, October 31, 2017 2016 2017 2016 Sales of products, ethanol and by-products segment: Ethanol $ 96,296 $ 90,702 $ 276,553 $ 259,266 Dried distillers grains 16,703 19,551 45,325 55,551 Non-food grade corn oil 6,041 5,074 15,359 13,658 Modified distillers grains 1,889 853 5,557 3,400 Other 42 103 64 337 Total $ 120,971 $ 116,283 $ 342,858 $ 332,212 Sales of products, refined coal segment: Refined coal $ 193 $ - $ 193 $ - 1 The Company records sales in the refined coal segment net of the cost of coal as the Company purchases the coal feedstock from the customer to which refined coal is sold. 2 The Company records its tax provision/benefit based on an estimated annual rate adjusted for items recorded discretely which it estimates to be approximately negative 4%. As a result of the timing of the refined coal acquisition on August 10, 2017, the Company’s effective tax rate for the quarter ended October 31, 2017 was a benefit of approximately 62%, which then results in a year to date effective rate of a benefit of approximately 4%.
Assets [Member]
SEGMENT REPORTING (Tables) [Line Items]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	October 31, 2017 January 31, 2017 Assets: Ethanol and by-products $ 396,927 $ 371,465 - - Refined coal 11,937 - - - Corporate and other 65,481 82,559 - - Total assets $ 474,345 $ 454,024 - -

CONSOLIDATED CONDENSED FINANC35

CONSOLIDATED CONDENSED FINANCIAL STATEMENTS (Details)	3 Months Ended	6 Months Ended	9 Months Ended
	Oct. 31, 2017	Jul. 31, 2017	Oct. 31, 2017
Disclosure Text Block [Abstract]
Number of Operating Segments	2	1	2
Number of Ethanol Entities Under Ownership Interest			3
Number of Ethanol Entities Under Majority Ownership Interest			2
Number Of Refined Coal Limited Liability Entities Under Majority Owership Interest			1

ACCOUNTING POLICIES (Details)

ACCOUNTING POLICIES (Details) - USD ($)	3 Months Ended	9 Months Ended
	Oct. 31, 2017	Oct. 31, 2017	Oct. 31, 2016	Jan. 31, 2017
ACCOUNTING POLICIES (Details) [Line Items]
Effective Income Tax Rate Reconciliation, Percent	62.00%	4.00%
Income Taxes Paid		$ 6,800,000	$ 5,100,000
Proceeds from Income Tax Refunds		500,000	$ 0
Income Tax Examination, Penalties and Interest Accrued	$ 300,000	300,000		$ 200,000
Unrecognized Tax Benefits, Period Increase (Decrease)		$ (1,300,000)
Property, Plant and Equipment, Depreciation Methods		Depreciation is computedusing the straight-line method
Asset Impairment Charges		$ 0
Approximate [Member]
ACCOUNTING POLICIES (Details) [Line Items]
Unrecognized Tax Benefits	$ 2,000,000	$ 2,000,000		$ 1,900,000
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%
Building and Building Improvements [Member] | Minimum [Member]
ACCOUNTING POLICIES (Details) [Line Items]
Property, Plant and Equipment, Estimated Useful Lives		15
Building and Building Improvements [Member] | Maximum [Member]
ACCOUNTING POLICIES (Details) [Line Items]
Property, Plant and Equipment, Estimated Useful Lives		40 years
Fixtures And Equipment [Member] | Minimum [Member]
ACCOUNTING POLICIES (Details) [Line Items]
Property, Plant and Equipment, Estimated Useful Lives		2
Fixtures And Equipment [Member] | Maximum [Member]
ACCOUNTING POLICIES (Details) [Line Items]
Property, Plant and Equipment, Estimated Useful Lives		20 years

ACCOUNTING POLICIES (Details) -

ACCOUNTING POLICIES (Details) - Schedule of Components of Inventory - USD ($) $ in Thousands	Oct. 31, 2017	Jan. 31, 2017
Schedule of Components of Inventory [Abstract]
Ethanol and other finished goods	$ 5,144	$ 5,262
Work in process	2,881	2,359
Grain and other raw materials	16,120	9,436
Total	$ 24,145	$ 17,057

BUSINESS COMBINATIONS (Details)

BUSINESS COMBINATIONS (Details) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2017	Oct. 31, 2016
BUSINESS COMBINATIONS (Details) [Line Items]
Selling, General and Administrative Expense	$ 7,347,000	$ 5,082,000	$ 17,528,000	$ 14,315,000
Income Tax Expense (Benefit)	(5,735,000)	5,740,000	(1,043,000)	11,771,000
Net Income (Loss) Attributable to Parent	$ 13,168,000	$ 8,938,000	$ 20,653,000	$ 19,952,000
Earnings Per Share, Basic and Diluted (in Dollars per share)	$ 2	$ 1.36	$ 3.13	$ 3.03
Payments to Acquire Businesses, Gross			$ 12,049,000
Refined Coal [Member]
BUSINESS COMBINATIONS (Details) [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	95.35%		95.35%
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual			$ 200,000
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual			4,500,000
Payments to Acquire Businesses, Gross			12,049,000
Business Acquisition, Transaction Costs	$ 2,100,000		2,100,000
Pro Forma [Member] | Refined Coal [Member]
BUSINESS COMBINATIONS (Details) [Line Items]
Costs and Expenses		$ 692,000	1,385,000	$ 2,077,000
Selling, General and Administrative Expense	(2,077,000)		(2,140,000)	2,140,000
Income Tax Expense (Benefit)	789,000	(263,000)	287,000	(1,602,000)
Net Income (Loss) Attributable to Parent	$ 1,228,000	$ (409,000)	$ 447,000	$ (2,493,000)
Earnings Per Share, Basic and Diluted (in Dollars per share)	$ 0.19	$ (0.06)	$ 0.07	$ (0.38)

BUSINESS COMBINATIONS (Detail39

BUSINESS COMBINATIONS (Details) - Schedule of Estimated Fair Values of Assets Acquired $ in Thousands	9 Months Ended
	Oct. 31, 2017USD ($)
Schedule of Estimated Fair Values of Assets Acquired [Abstract]
Inventory	$ 49
Property, plant and equipment	12,000
Total assets acquired and purchase price	$ 12,049

LEASES (Details) - Schedule of

LEASES (Details) - Schedule of Future Minimum Rental Payments for Operating Leases $ in Thousands	Oct. 31, 2017USD ($)
Schedule of Future Minimum Rental Payments for Operating Leases [Abstract]
Remainder of 2018	$ 1,774
2,019	6,910
2,020	5,700
2,021	3,931
2,022	3,299
Thereafter	3,026
Total	$ 24,640

FAIR VALUE (Details) - Schedule

FAIR VALUE (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis - USD ($) $ in Thousands		Oct. 31, 2017	Jan. 31, 2017
FAIR VALUE (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Commodity futures (1)	[1]	$ 120	$ 45
Forward purchase contract asset	[2]		163
Investment in cooperative (2)	[3]	333	333
Total assets		453	541
Forward purchase contract liability (3)	[4]	287	136
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]
Forward purchase contract asset	[2]
Investment in cooperative (2)	[3]
Forward purchase contract liability (3)	[4]
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]	120	45
Forward purchase contract asset	[2]		163
Investment in cooperative (2)	[3]
Total assets		120	208
Forward purchase contract liability (3)	[4]	287	136
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]
Forward purchase contract asset	[2]
Investment in cooperative (2)	[3]	333	333
Total assets		333	333
Forward purchase contract liability (3)	[4]
[1]	Commodity futures are included in "Prepaid expenses and other current assets" on the accompanying Consolidated Condensed Balance Sheets.
[2]	The forward purchase contract asset is included in "Prepaid expenses and other current assets" on the accompanying Consolidated Condensed Balance Sheets.
[3]	The investment in cooperative is included in "Other assets" on the accompanying Consolidated Condensed Balance Sheets.
[4]	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 and Equipment - USD ($) $ in Thousands	Oct. 31, 2017	Jan. 31, 2017
Schedule of Property and Equipment [Abstract]
Land and improvements	$ 21,074	$ 20,951
Buildings and improvements	23,272	23,203
Machinery, equipment and fixtures	280,986	255,348
Construction in progress	6,590	1,046
	331,922	300,548
Less: accumulated depreciation	(132,963)	(117,787)
Total	$ 198,959	$ 182,761

OTHER ASSETS (Details) - Schedu

OTHER ASSETS (Details) - Schedule of Other Assets - USD ($) $ in Thousands	Oct. 31, 2017	Jan. 31, 2017
Schedule of Other Assets [Abstract]
Real estate taxes refundable	$ 6,450	$ 5,923
Deposits	5	155
Other	735	835
Total	$ 7,190	$ 6,913

ACCRUED EXPENSES AND OTHER CU44

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - Schedule of accrued expenses and other current liabilities - USD ($) $ in Thousands	Oct. 31, 2017	Jan. 31, 2017
Schedule of accrued expenses and other current liabilities [Abstract]
Accrued utility charges	$ 2,097	$ 2,414
Accrued payroll and related items	2,855	4,279
Accrued real estate taxes	1,966	2,716
Accrued income taxes	52	2,120
Other	4,253	1,819
Total	$ 11,223	$ 13,348

REVOLVING LINES OF CREDIT (Deta

REVOLVING LINES OF CREDIT (Details) - One Earth Energy And Nu Gen Energy [Member] - Revolving Credit Facility [Member] $ in Millions	9 Months Ended
	Oct. 31, 2017USD ($)
REVOLVING LINES OF CREDIT (Details) [Line Items]
Debt Instrument, Maturity Date	Jun. 1, 2018
Line of Credit, Current	$ 10

DERIVATIVE FINANCIAL INSTRUME46

DERIVATIVE FINANCIAL INSTRUMENTS (Details) bu in Millions	3 Months Ended		9 Months Ended
	Oct. 31, 2017USD ($)bu	Oct. 31, 2016USD ($)	Oct. 31, 2017USD ($)bu	Oct. 31, 2016USD ($)	Jan. 31, 2017bu
Disclosure Text Block Supplement [Abstract]
Quantity Of Bushels Under Commodity Futures (in US Bushels) | bu	1.5		1.5		0.7
Quantity of Bushels under Forward Purchase Contract (in US Bushels) | bu	4.7		4.7		5.3
Debt Instrument, Collateral Amount | $	$ 230,000		$ 230,000
Derivative, Gain on Derivative | $	$ 75,000	$ 115,000	$ 1,052,000	$ 1,740,000

DERIVATIVE FINANCIAL INSTRUME47

DERIVATIVE FINANCIAL INSTRUMENTS (Details) - Schedule of Fair Values for Derivative Financial Instruments - USD ($) $ in Thousands		Oct. 31, 2017	Jan. 31, 2017
DERIVATIVE FINANCIAL INSTRUMENTS (Details) - Schedule of Fair Values for Derivative Financial Instruments [Line Items]
Asset Derivatives, Fair Value		$ 120	$ 208
Liability Derivatives, Fair Value		287	136
Commodity Contract [Member]
DERIVATIVE FINANCIAL INSTRUMENTS (Details) - Schedule of Fair Values for Derivative Financial Instruments [Line Items]
Asset Derivatives, Fair Value	[1]	120	45
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]		163
Liability Derivatives, Fair Value	[2]	$ 287	$ 136
[1]	Commodity futures are included in prepaid expenses and other current assets. These contracts are short/sell positions for approximately 1.5 million and 0.7 million bushels of corn at October 31, 2017 and January 31, 2017, respectively.
[2]	Forward purchase contracts assets are included in prepaid expenses and other current assets while forward purchase contracts liabilities are included in accrued expenses and other current liabilities. These contracts are for purchases of approximately 4.7 million and 5.3 million bushels of corn at October 31, 2017 and January 31, 2017, respectively.

INVESTMENTS (Details)

INVESTMENTS (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Apr. 30, 2016	Oct. 31, 2017	Oct. 31, 2016	Jan. 31, 2017
INVESTMENTS (Details) [Line Items]
Income (Loss) from Equity Method Investments	$ 1,094	$ 1,838		$ 1,931	$ 3,257
Proceeds from Equity Method Investment, Distribution				4,009	4,010
Gain (Loss) on Sale of Investments				(13)	$ 192
Big River [Member]
INVESTMENTS (Details) [Line Items]
Income (Loss) from Equity Method Investments				15,700		$ 17,800
Proceeds from Equity Method Investment, Distribution				4,000
Equity Method Investment, Underlying Equity in Net Assets	$ 276,400			$ 276,400		$ 278,700
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	9 Months Ended
	Oct. 31, 2017	Jan. 31, 2017
Schedule of Equity Method Investments [Line Items]
Big River	$ 35,755	$ 37,833
Big River [Member]
Schedule of Equity Method Investments [Line Items]
Big River	10.3% at October 31, 2017 and 9.7% at January 31, 2017
Big River	$ 35,755	$ 37,833

INVESTMENTS (Details) - Sched50

INVESTMENTS (Details) - Schedule of Financial information For Equity Method Investment - Big River [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2017	Oct. 31, 2016
INVESTMENTS (Details) - Schedule of Financial information For Equity Method Investment [Line Items]
Net sales and revenue	$ 201,621	$ 216,505	$ 606,190	$ 611,050
Gross profit	18,620	26,191	38,363	49,119
Income from continuing operations	11,010	18,934	19,628	33,555
Net income	$ 11,010	$ 18,934	$ 19,628	$ 33,555

EMPLOYEE BENEFITS (Details)

EMPLOYEE BENEFITS (Details) - USD ($)	Oct. 31, 2017	Jan. 31, 2017
EMPLOYEE BENEFITS (Details) [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 277,000	$ 214,000
Stock Option Plans 2015 [Member] | Employee Stock Option [Member]
EMPLOYEE BENEFITS (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	550,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	511,174

EMPLOYEE BENEFITS (Details) - S

EMPLOYEE BENEFITS (Details) - Schedule of Non-Vested Restricted Stock Award Activity - $ / shares $ / shares in Thousands	9 Months Ended
	Oct. 31, 2017	Oct. 31, 2016
Schedule of Non-Vested Restricted Stock Award Activity [Abstract]
Non-Vested, Beginning of Period	23,350	3,168
Non-Vested, Beginning of Period	$ 1,386	$ 200
Non-Vested, Beginning of Period	2 years	2 years
Granted	14,156	21,502
Granted	$ 1,370	$ 1,269
Forfeited
Forfeited
Vested	8,091	1,320
Vested	$ 481	$ 83
Non-Vested, End of Period	29,415	23,350
Non-Vested, End of Period	$ 2,275	$ 1,386
Non-Vested, End of Period	2 years	2 years

INCOME TAXES (Details) - Sched

INCOME TAXES (Details) - Schedule of Unrecognized Tax Benefits Roll Forward - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2017	Oct. 31, 2016
Schedule of Unrecognized Tax Benefits Roll Forward [Abstract]
Unrecognized tax benefits, beginning of period	$ 2,096	$ 987
Changes for prior years’ tax positions	247	749
Changes for current year tax positions		491
Unrecognized tax benefits, end of period	$ 2,343	$ 2,227

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) lb in Millions, gal in Millions, bu in Millions, $ in Millions	9 Months Ended
	Oct. 31, 2017USD ($)Tlbbugal	Jan. 31, 2017bu
COMMITMENTS AND CONTINGENCIES (Details) [Line Items]
Quantity of Bushels under Forward Purchase Contract	4.7	5.3
One Earth Energy And Nu Gen Energy [Member]
COMMITMENTS AND CONTINGENCIES (Details) [Line Items]
Quantity of Bushels under Forward Purchase Contract	9.1
Quantity of Ethanol under Sales Commitment | gal	29.8
Quantity of Distillers Grains Under Sales Commitment | T	108,000
Quantity of Non-food Grade Corn Oil Under Sales Commitments | lb	16.7
Supply Commitment Expected Period Of Delivery	They expect to deliver the ethanol, distillers grains and non-food grade corn oil through December2017.
Refined Coal [Member]
COMMITMENTS AND CONTINGENCIES (Details) [Line Items]
Operating Leases, Rent Expense, Net | $	$ 2.4

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2017	Oct. 31, 2016	Jan. 31, 2017
RELATED PARTY TRANSACTIONS (Details) [Line Items]
Accrued Liabilities for Commissions, Expense and Taxes	$ 1.5		$ 1.5
One Earth Energy And Nu Gen Energy [Member]
RELATED PARTY TRANSACTIONS (Details) [Line Items]
Costs and Expenses, Related Party	43.4	$ 34.2	121.8	$ 114.6
Accounts Payable, Related Parties, Current	$ 2.7		2.7		$ 1.7
Refined Coal [Member]
RELATED PARTY TRANSACTIONS (Details) [Line Items]
Costs and Expenses, Related Party			$ 1.6

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details)	3 Months Ended	6 Months Ended	9 Months Ended
	Oct. 31, 2017	Jul. 31, 2017	Oct. 31, 2017
Segment Reporting [Abstract]
Number of Operating Segments	2	1	2
Effective Income Tax Rate Reconciliation, Percent	62.00%		4.00%

SEGMENT REPORTING (Details) - S

SEGMENT REPORTING (Details) - Schedule Of Segment Results And Assets - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Oct. 31, 2017	Oct. 31, 2016	Oct. 31, 2017	Oct. 31, 2016
Segment Reporting Information [Line Items]
Net sales and revenue:		$ 121,164	$ 116,283	$ 343,051	$ 332,212
Segment gross profit (loss):		14,867	20,162	38,137	45,868
Income (loss) before income taxes:		9,259	17,214	23,734	35,740
Benefit (provision) for income taxes:		5,735	(5,740)	1,043	(11,771)
Segment profit (loss):		13,168	8,938	20,653	19,952
Sales of products:		120,971	116,283	342,858	332,212
Ethanol [Member]
Segment Reporting Information [Line Items]
Net sales and revenue:		120,971	116,283	342,858	332,212
Segment gross profit (loss):		18,257	20,162	41,527	45,868
Income (loss) before income taxes:		15,554	17,682	31,807	37,294
Benefit (provision) for income taxes:		(4,379)	(5,917)	(9,712)	(12,331)
Segment profit (loss):		9,058	9,209	17,665	20,901
Sales of products:		96,296	90,702	276,553	259,266
Refined Coal [Member]
Segment Reporting Information [Line Items]
Net sales and revenue:	[1]	193		193
Segment gross profit (loss):		(3,390)		(3,390)
Income (loss) before income taxes:		(5,684)		(5,684)
Benefit (provision) for income taxes:	[2]	9,918		9,918
Segment profit (loss):		4,520		4,520
Sales of products:		193		193
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Income (loss) before income taxes:		(611)	(468)	(2,389)	(1,554)
Benefit (provision) for income taxes:		196	177	837	560
Segment profit (loss):		(410)	(271)	(1,532)	(949)
Dried Distillers Grains [Member]
Segment Reporting Information [Line Items]
Sales of products:		16,703	19,551	45,325	55,551
Non-Food Grade Corn Oil [Member]
Segment Reporting Information [Line Items]
Sales of products:		6,041	5,074	15,359	13,658
Modified Distillers Grains [Member]
Segment Reporting Information [Line Items]
Sales of products:		1,889	853	5,557	3,400
Other Segments [Member]
Segment Reporting Information [Line Items]
Sales of products:		$ 42	$ 103	$ 64	$ 337
[1]	The Company records sales in the refined coal segment net of the cost of coal as the Company purchases the coal feedstock from the customer to which refined coal is sold.
[2]	The Company records its tax provision/benefit based on an estimated annual rate adjusted for items recorded discretely which it estimates to be approximately negative 4%. As a result of the timing of the refined coal acquisition on August 10, 2017, the Company's effective tax rate for the quarter ended October 31, 2017 was a benefit of approximately 62%, which then results in a year to date effective rate of a benefit of approximately 4%.

SEGMENT REPORTING (Details) -58

SEGMENT REPORTING (Details) - Schedule Of Segment Assests - USD ($) $ in Thousands	Oct. 31, 2017	Jan. 31, 2017
Segment Reporting Information [Line Items]
Assets:	$ 474,345	$ 454,024
Ethanol [Member]
Segment Reporting Information [Line Items]
Assets:	396,927	371,465
Refined Coal [Member]
Segment Reporting Information [Line Items]
Assets:	11,937
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Assets:	$ 65,481	$ 82,559