REX American Resources (REX) 10-Q 3 Dec 18 2018 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Oct. 31, 2018	Nov. 30, 2018
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		6,327,178
Amendment Flag	false
Entity Central Index Key	744,187
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Period End Date	Oct. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Ex Transition Period	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 31, 2018	Jan. 31, 2018
Current assets:
Cash and cash equivalents	$ 178,229	$ 190,988
Short-term investments	14,891
Restricted cash	434	354
Accounts receivable	15,732	12,913
Inventory	21,636	20,755
Refundable income taxes	8,339	6,612
Prepaid expenses and other	8,111	7,412
Total current assets	247,372	239,034
Property and equipment, net	186,458	197,827
Other assets	8,562	7,454
Equity method investment	33,724	34,549
Total assets	476,116	478,864
Current liabilities:
Accounts payable, trade	9,387	8,149
Accrued expenses and other current liabilities	10,225	13,716
Total current liabilities	19,612	21,865
Long-term liabilities:
Deferred taxes	123	21,706
Other long-term liabilities	7,947	3,367
Total long-term liabilities	8,070	25,073
REX shareholders’ equity:
Common stock	299	299
Paid-in capital	148,242	146,923
Retained earnings	578,501	547,913
Treasury stock	(331,763)	(313,643)
Total REX shareholders’ equity	395,279	381,492
Noncontrolling interests	53,155	50,434
Total equity	448,434	431,926
Total liabilities and equity	$ 476,116	$ 478,864

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Net sales and revenue	$ 123,750	$ 121,164	$ 373,327	$ 343,051
Cost of sales	116,003	106,297	345,330	304,914
Gross profit	7,747	14,867	27,997	38,137
Selling, general and administrative expenses	(5,412)	(7,347)	(16,075)	(17,528)
Equity in income of unconsolidated affiliates	611	1,094	2,182	1,931
Interest and other income	809	645	2,159	1,194
Income before income taxes	3,755	9,259	16,263	23,734
Benefit for income taxes	10,014	5,735	18,348	1,043
Net income	13,769	14,994	34,611	24,777
Net income attributable to noncontrolling interests	(1,894)	(1,826)	(4,023)	(4,124)
Net income attributable to REX common shareholders	$ 11,875	$ 13,168	$ 30,588	$ 20,653
Weighted average shares outstanding – basic and diluted (in Shares)	6,388	6,597	6,473	6,594
Basic and diluted net income per share attributable to REX common shareholders (in Dollars per share)	$ 1.86	$ 2	$ 4.73	$ 3.13

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED 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, 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
Balance at Jan. 31, 2018	$ 299	$ (313,643)	146,923	547,913	50,434	431,926
Balance (in Shares) at Jan. 31, 2018	29,853	23,287
Net income				30,588	4,023	34,611
Treasury stock acquired		$ (18,419)				(18,419)
Treasury stock acquired (in Shares)		253
Capital contributions					432	432
Issuance of equity awards and stock based compensation expense		$ 299	1,319			1,618
Issuance of equity awards and stock based compensation expense (in Shares)		(13)
Noncontrolling interests distribution and other					(1,734)	(1,734)
Balance at Oct. 31, 2018	$ 299	$ (331,763)	$ 148,242	$ 578,501	$ 53,155	$ 448,434
Balance (in Shares) at Oct. 31, 2018	29,853	23,527

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017
Net income including noncontrolling interests	$ 34,611	$ 24,777
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	18,673	15,695
Income from equity method investments	(2,182)	(1,931)
Dividends received from equity method investee	3,007	4,009
Interest income from investments	(993)
Deferred income tax	(22,146)	(5,682)
Stock based compensation expense	730	881
Loss (gain) on disposal of property and equipment	104	87
Loss on sale of investment		13
Changes in assets and liabilities:
Accounts receivable	(2,819)	2,023
Inventories	(881)	(7,039)
Other assets	(2,996)	(222)
Accounts payable, trade	1,682	2,195
Other liabilities	2,079	(746)
Net cash provided by operating activities	28,869	34,060
Cash flows from investing activities:
Capital expenditures	(7,954)	(19,315)
Acquisition of business, net of cash acquired		(12,049)
Sale of short-term investments	112,091
Purchase of short-term investments	(125,989)
Other	25	275
Net cash used in investing activities	(21,827)	(31,089)
Cash flows from financing activities:
Treasury stock acquired	(18,419)
Dividend payments to and purchases of stock from noncontrolling interests holders	(1,734)	(1,725)
Capital contributions from minority investor	432	738
Net cash used in financing activities	(19,721)	(987)
Net (decrease) increase in cash, cash equivalents and restricted cash	(12,679)	1,984
Cash, cash equivalents and restricted cash, beginning of period	191,342	188,706
Cash, cash equivalents and restricted cash, end of period	178,663	190,690
Non cash investing activities – Accrued capital expenditures	603	1,049
Non cash financing activities – Stock awards accrued	585	768
Non cash financing activities – Stock awards issued	1,473	1,195
Cash and cash equivalents	178,229	190,460
Restricted cash	$ 434	$ 230

Consolidated Condensed Financia

Consolidated Condensed Financial Statements	9 Months Ended
	Oct. 31, 2018
Condensed Financial Information Disclosure [Abstract]
Condensed Financial Information of Parent Company Only 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, 2018 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, 2018 (fiscal year 2017). 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, 2018. 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 consolidates the results of its four majority owned subsidiaries. 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 as One Earth has a fiscal year end of December 31. 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 4). 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.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Oct. 31, 2018
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 2017 Annual Report on Form 10-K and the adoption of new accounting standards described at the end of this footnote. 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. Cash and Cash Equivalents Cash and cash equivalents includes bank deposits as well as short-term, highly liquid investments with original maturities of three months or less. Revenue Recognition For ethanol and by-products segment sales, the Company recognizes sales of ethanol, distillers grains and non-food grade corn oil when obligations under the terms of the respective contracts with customers are satisfied; this occurs with the transfer of control of products, 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 of refined coal when obligations under the term of the contract with its customer are satisfied; this occurs when title and control of the product 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 the processed refined coal is sold. 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, beginning August 10, 2017, the date of the refined coal acquisition (see Note 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 $0.9 million and approximately $6.8 million during the nine months ended October 31, 2018 and 2017, respectively. The Company did not receive any refunds of income taxes during the nine months ended October 31, 2018. The Company received refunds of state income taxes of approximately $0.5 million during the nine months ended October 31, 2017. As of October 31, 2018 and January 31, 2018, total unrecognized tax benefits were approximately $6.6 million and $2.0 million, respectively. Accrued penalties and interest were approximately $0.4 million at October 31, 2018 and January 31, 2018. If the Company were to prevail on all unrecognized tax benefits recorded, the provision for income taxes would be reduced by approximately $6.0 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. At October 31, 2018, there was a permanent write-down of inventory of approximately $0.4 million. There was no significant permanent write-down of inventory at January 31, 2018. 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, Ethanol and other finished goods $ 6,014 $ 8,402 Work in process 2,924 2,824 Grain and other raw materials 12,698 9,529 Total $ 21,636 $ 20,755 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 5 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 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. Short-term investments are considered held to maturity, and, therefore are carried at amortized historical cost. 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 Effective February 1, 2018, the Company adopted the amended guidance in ASC Topic 606 “ Revenue from Contracts with Customers Effective February 1, 2018, the Company prospectively adopted Accounting Standards Update “ASU” 2016-15 “ Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments Effective February 1, 2018, the Company adopted ASU 2016-18 “ Statement of Cash Flows (Topic 230), Restricted Cash”. In February 2016, the FASB issued ASU 2016-02 “Leases”. This standard requires that virtually all leases will be recognized by lessees on their balance sheet as a right-of-use asset and a corresponding lease liability, including leases currently accounted for as operating leases. The Company will be required to adopt this standard effective February 1, 2019. The related leases are currently accounted for as operating leases (see Note 5). This standard requires a modified retrospective transition approach and allows for early adoption. In July 2018, FASB issued Accounting Standards Update, Leases (Topic 842): Targeted Improvements

NET SALES AND REVENUE

NET SALES AND REVENUE	9 Months Ended
	Oct. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Note 3. Net Sales and Revenue On February 1, 2018, the Company adopted the amended guidance in ASC Topic 606, “ Revenue from Contracts with Customers The Company recognizes sales of products when obligations under the terms of the respective contracts with customers are satisfied. This occurs with the transfer of control of products, generally upon shipment from the ethanol plant or upon loading of the rail car used to transport the products. Revenue is measured as the amount of consideration expected to be received in exchange for transferring goods. Sales, value add and other taxes the Company collects concurrent with revenue producing activities are excluded from net sales and revenue. The majority of the Company’s sales have payment terms ranging from 5 to 10 days after transfer of control. The Company has determined that sales contracts do not generally include a significant financing component. The Company has not historically, and does not intend to, enter into sales contracts in which payment is due from a customer prior to transferring product to the customer. Thus, the Company does not record unearned revenue. The Company elected, pursuant to the new accounting guidance, to recognize as fulfillment activities the cost for shipping and handling activities that occur after the customer obtains control of the promised goods and not when performance obligations are met. See Note 17 for disaggregation of net sales and revenue by operating segment and by product.

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	9 Months Ended
	Oct. 31, 2018
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Note 4. 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 2017, is as follows: Cost of sales would have increased by approximately $1,385,000 for the nine months ended October 31, 2017. This pro forma increase is a result of increased depreciation expense as if the refined coal entity was consolidated since the beginning of the nine months ended October 31, 2017. Selling, general and administrative expenses would have increased by approximately $370,000 for the nine months ended October 31, 2017. These pro forma adjustments are a result of transaction costs occurring (on a pro forma basis) during the first quarter of fiscal year 2017. The provision for income taxes would have decreased by approximately $667,000 for the nine months ended October 31, 2017. Net income attributable to REX common shareholders would have decreased by approximately $1,037,000 for the nine months ended October 31, 2017. Basic and diluted net income per share attributable to REX common shareholders would have decreased by approximately $0.16 for the nine months ended October 31, 2017. The results of the Company’s refined coal operations (approximately $1.0 million of net sales and revenue and approximately $14.2 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 final fair value assessment results of a valuation analysis. 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 $2.5 million during fiscal year 2017. The Company does not expect to incur additional transaction costs from this acquisition.

LEASES

LEASES	9 Months Ended
	Oct. 31, 2018
Leases [Abstract]
Leases of Lessee Disclosure [Text Block]	Note 5. Leases At October 31, 2018, 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 Remainder of 2019 $ 1,982 2020 7,220 2021 5,865 2022 5,182 2023 3,600 Thereafter 7,123 Total $ 30,972

FAIR VALUE

FAIR VALUE	9 Months Ended
	Oct. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Note 6. 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. 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, 2018 are summarized below (amounts in thousands): Level 1 Level 2 Level 3 Fair Value Investment in cooperative (2) $ — $ — $ 333 $ 333 Commodity futures and options (5) — 72 — 72 Total assets $ — $ 72 $ 333 $ 405 Commodity futures (3) $ — $ — $ — $ — Forward purchase contract liability (4) — 528 — 528 Total liabilities $ — $ 528 $ — $ 528 Financial assets and liabilities measured at fair value on a recurring basis at January 31, 2018 are summarized below (amounts in thousands): Level 1 Level 2 Level 3 Fair Value Forward purchase contracts asset (1) $ — $ 72 $ — $ 72 Investment in cooperative (2) — — 333 333 Total assets $ — $ 72 $ 333 $ 405 Commodity futures (3) $ — $ 87 $ — $ 87 Forward purchase contract liability (4) — 34 — 34 Total liabilities $ — $ 121 $ — $ 121 (1) The forward purchase contract asset is 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) Commodity futures are included in “Accrued expenses and other current liabilities” 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. (5) The commodity futures and options asset is included in “Prepaid expenses and other current assets”. 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, 2018 or January 31, 2018. As discussed in Note 4, 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, 2018
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	Note 7. Property and Equipment The components of property and equipment are as follows for the periods presented (amounts in thousands): October 31, January 31, Land and improvements $ 21,095 $ 21,074 Buildings and improvements 23,609 23,272 Machinery, equipment and fixtures 295,114 288,832 Construction in progress 3,241 3,155 343,059 336,333 Less: accumulated depreciation (156,601 ) (138,506 ) Total $ 186,458 $ 197,827

OTHER ASSETS

OTHER ASSETS	9 Months Ended
	Oct. 31, 2018
Disclosure Text Block Supplement [Abstract]
Other Assets Disclosure [Text Block]	Note 8. Other Assets The components of other assets are as follows for the periods presented (amounts in thousands): October 31, January 31, Real estate taxes refundable $ 7,290 $ 6,719 Deferred income taxes 563 — Deposits — 5 Other 709 730 Total $ 8,562 $ 7,454 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.

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	9 Months Ended
	Oct. 31, 2018
Disclosure Text Block Supplement [Abstract]
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	Note 9. 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, Accrued payroll and related items $ 2,252 $ 5,108 Accrued utility charges 2,167 2,639 Accrued real estate taxes 2,007 2,678 Accrued income taxes 62 61 Other 3,737 3,230 Total $ 10,225 $ 13,716

REVOLVING LINES OF CREDIT

REVOLVING LINES OF CREDIT	9 Months Ended
	Oct. 31, 2018
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Note 10. Revolving Lines of Credit Effective April 1, 2016, One Earth and NuGen Energy, LLC (“NuGen”) each entered into $10.0 million revolving loan facilities that mature June 1, 2019 as extended. Neither One Earth nor NuGen had outstanding borrowings on the revolving loans during the nine months ended October 31, 2018 and 2017.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	9 Months Ended
	Oct. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	Note 11. 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 October 31, January 31, October 31, January 31, Commodity futures (1) $ 72 $ — $ — $ 87 Forward purchase contracts (2) — 72 528 34 Total $ 72 $ 72 $ 528 $ 121 (1) Commodity futures liabilities are included in accrued expenses and other current liabilities. Commodity futures assets are included in prepaid expenses and other current assets. These contracts are short/sell positions for approximately 2.7 million bushels of corn at October 31, 2018. These contracts are short/sell positions for approximately 2.5 million bushels of corn and approximately 2.8 million gallons of ethanol and long/buy positions for approximately 2.8 million gallons of ethanol at January 31, 2018. (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 2.6 million and 11.7 million bushels of corn at October 31, 2018 and January 31, 2018, respectively. As of October 31, 2018, 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 and amounts owed or owing with the same counterparty. As of October 31, 2018, 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, 2018, the Company was required to maintain collateral in the amount of approximately $434,000 to secure the Company’s derivative position. See Note 6 which contains fair value information related to derivative financial instruments. Gains on the Company’s derivative financial instruments of approximately $2,432,000 and approximately $75,000 for the third quarters of fiscal years 2018 and 2017, respectively, were included in cost of sales on the Consolidated Condensed Statements of Operations. Gains on the Company’s derivative financial instruments of approximately $2,273,000 and approximately $1,052,000 for the first nine months of fiscal years 2018 and 2017, respectively, were included in cost of sales on the Consolidated Condensed Statements of Operations. Losses on the Company’s derivative financial instruments of approximately $64,000 for the third quarter and first nine months of fiscal year 2018 were included in interest and other income on the Consolidated Condensed Statements of Operations.

INVESTMENTS

INVESTMENTS	9 Months Ended
	Oct. 31, 2018
Investments Schedule [Abstract]
Investment [Text Block]	Note 12. Investments The following table summarizes the Company’s equity method investment at October 31, 2018 and January 31, 2018 (dollars in thousands): Entity Ownership Percentage Carrying Amount Carrying Amount Big River 10.3 % $ 33,724 $ 34,549 Undistributed earnings of the Company’s equity method investee totaled approximately $13.7 million and $14.5 million at October 31, 2018 and January 31, 2018, respectively. The Company received dividends from its equity method investee of approximately $3.0 million and approximately $4.0 million during the first nine months of fiscal years 2018 and 2017, respectively. 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 2018 2017 2018 2017 Net sales and revenue $ 196,169 $ 201,621 $ 600,204 $ 606,190 Gross profit $ 15,150 $ 18,620 $ 39,489 $ 38,363 Income from continuing operations $ 5,932 $ 11,010 $ 21,164 $ 19,628 Net income $ 5,932 $ 11,010 $ 21,164 $ 19,628 The following table summarizes the Company’s held-to-maturity security at October 31, 2018 (dollars in thousands): Amortized Gross Unrealized Estimated United States Treasury Bill $ 14,891 $ 5 $ 14,886 As of October 31, 2018, the contractual maturity of this investment was less than one year. The yield to maturity rate is 2.34%. The Company had no held-to-maturity investments as of January 31, 2018.

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS	9 Months Ended
	Oct. 31, 2018
Disclosure Text Block Supplement [Abstract]
Compensation and Employee Benefit Plans [Text Block]	Note 13. 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. Since plan inception, the Company has only granted restricted stock awards. 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, 2018, 489,430 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 predetermined grant date. 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 on the predetermined grant date. At October 31, 2018 and January 31, 2018, unrecognized compensation cost related to nonvested restricted stock was approximately $237,000 and $233,000, respectively. The following tables summarize non-vested restricted stock award activity for the nine months ended October 31, 2018 and 2017: Nine Months Ended October 31, 2018 Non-Vested Weighted Weighted Non-Vested at January 31, 2018 29,415 $ 2,275 2 Granted 21,745 1,622 Forfeited — — Vested 13,124 963 Non-Vested at October 31, 2018 38,036 $ 2,934 2 Nine Months Ended October 31, 2017 Non-Vested Weighted Weighted 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 The above tables include 34,148 and 24,711 non-vested shares at October 31, 2018 and 2017, respectively, which are included in the number of weighted average shares outstanding used to determine basic and diluted earnings per share attributable to REX common shareholders. Such shares are treated, for accounting purposes, as being fully vested at the grant date as they were granted to recipients who were retirement eligible at the time of grant.

Income Taxes

Income Taxes	9 Months Ended
	Oct. 31, 2018
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Note 14 . Income Taxes The effective tax rate on consolidated pre-tax income was (266.7)% and (61.9)% for the three months ended October 31, 2018 and 2017, respectively and was (112.8)% and (4.4)% for the nine months ended October 31, 2018 and 2017, respectively. The fluctuation in the rate results primarily from the production tax credits the Company expects to receive associated with its refined coal segment, lower tax rates as a result of the Tax Cuts and Jobs Act of 2017 (“the Tax Act”) and expected research and experimentation federal tax credits to be claimed and earned in fiscal year 2018. The Company records its tax provision/benefit based on an estimated annual effective rate adjusted for items recorded discretely. The estimated annual effective tax rate includes the impact of the refined coal operation and the expected federal income tax credits to be earned in fiscal year 2018. The Tax Act signed into law on December 22, 2017, reduced the federal corporate income tax rate to 21% effective January 1, 2018. The Tax Act also made numerous other changes to the U.S. tax code, including, but not limited to, permitting full expensing of qualified property acquired after September 27, 2017, expanding prior limitations of the deductibility of certain executive compensation and eliminating the corporate alternative minimum tax. The SEC issued Staff Accounting Bulletin 118 (“SAB 118”), which provides guidance on accounting for the tax effects of the Tax Act. In recognition of the inherent complexities associated with accounting for the effects of the Tax Act, SAB 118 provides a measurement period of up to one year from enactment of the Tax Act for companies to complete the accounting for the tax effects of the Tax Act. Although the Company’s accounting for the tax effects of the Tax Act are not yet complete, at January 31, 2018, the Company made a preliminary estimate of the effect of the tax rate reduction on the existing deferred tax balances and recorded a tax benefit of approximately $14,362,000 to remeasure the deferred tax liability at the new 21% rate. The Company will continue to refine the calculation as additional analysis is completed, which will include a final determination of the deferred tax balances at January 31, 2018 after the Company’s federal income tax return is filed, and as further guidance is provided by the Internal Revenue Service. Through its refined coal operation, the Company earns production tax credits pursuant to IRC Section 45. The credits can be used to reduce future income tax liabilities for up to 20 years. 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, 2013 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 2018 2017 Unrecognized tax benefits, beginning of period $ 2,325 $ 2,096 Changes for prior years’ tax positions 4,666 247 Changes for current year tax positions — — Unrecognized tax benefits, end of period $ 6,991 $ 2,343 The Company expects to claim research and experimentation credits in the current year and certain prior years. In connection with this, the Company has increased the amount of unrecognized tax benefits.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Note 15. 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 6.5 million bushels of corn, the principal raw material for their ethanol plants. They expect to take delivery of the grain through March 2019. One Earth and NuGen have combined forward purchase contracts for approximately 2,732,000 Mmbtu (million british thermal units) of natural gas. They expect to take delivery of the natural gas through May 2019. One Earth and NuGen have combined sales commitments for approximately 37.9 million gallons of ethanol, approximately 109,000 tons of distillers grains and approximately 19.1 million pounds of non-food grade corn oil. They expect to deliver a majority of the ethanol, distillers grains and non-food grade corn oil through January 2019. 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. These fees totaled approximately $7.7 million in the first nine months of fiscal year 2018.

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Oct. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	Note 16. Related-Party Transactions During the third quarters of fiscal years 2018 and 2017, One Earth and NuGen purchased approximately $47.3 million and approximately $43.4 million, respectively, of corn from minority equity investors and board members of those subsidiaries. Such purchases totaled approximately $138.6 million and approximately $121.8 million for the nine months ended October 31, 2018 and 2017, respectively. One Earth purchases all of its corn from an equity investor which acts as a grain origination agent for One Earth. The Company had amounts payable to related parties for corn purchases of approximately $2.0 million and $0.9 million at October 31, 2018 and January 31, 2018, respectively. During the three months ended October 31, 2018 and 2017, the Company recognized commission expense of approximately $0.4 million and approximately $1.6 million, respectively, payable to the minority investor in the refined coal entity. The Company recognized commission expense of approximately $0.7 million and approximately $1.6 million during the first nine months of fiscal years 2018 and 2017, respectively. The commission expense is associated with the refined coal acquisition. The Company had accrued liabilities and accounts payable related to the commission expense of approximately $1.6 million and $1.5 million at October 31, 2018 and January 31, 2018, respectively.

Segment Reporting

Segment Reporting	9 Months Ended
	Oct. 31, 2018
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Note 17. 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 4.) The Company has two segments: ethanol and by-products and refined coal. 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 2018 2017 2018 2017 Net sales and revenue: Ethanol and by-products $ 123,546 $ 120,971 $ 372,717 $ 342,858 Refined coal 1 204 193 610 193 Total net sales and revenue $ 123,750 $ 121,164 $ 373,327 $ 343,051 1 Segment gross profit (loss): Ethanol and by-products $ 11,260 $ 18,257 $ 38,475 $ 41,527 Refined coal (3,513 ) (3,390 ) (10,478 ) (3,390 ) Total gross profit $ 7,747 $ 14,867 $ 27,997 $ 38,137 Income (loss) before income taxes: Ethanol and by-products $ 8,405 $ 15,554 $ 29,491 $ 31,807 Refined coal (4,240 ) (5,684 ) (11,887 ) (5,684 ) Corporate and other (410 ) (611 ) (1,341 ) (2,389 ) Total income (loss) before income taxes $ 3,755 $ 9,259 $ 16,263 $ 23,734 Benefit (provision) for income taxes: Ethanol and by-products $ 1,643 $ (4,379 ) $ (1,806 ) $ (9,712 ) Refined coal 8,318 9,918 19,914 9,918 Corporate and other 53 196 240 837 Total benefit (provision) for income taxes $ 10,014 $ 5,735 $ 18,348 $ 1,043 Segment profit (loss) (net of noncontrolling interests): Ethanol and by-products $ 7,946 $ 9,058 $ 23,096 $ 17,665 Refined coal 4,260 4,520 8,549 4,520 Corporate and other (331 ) (410 ) (1,057 ) (1,532 ) Net income attributable to REX common shareholders $ 11,875 $ 13,168 $ 30,588 $ 20,653 October 31, January 31, Assets: Ethanol and by-products $ 407,094 $ 384,997 Refined coal 9,330 12,165 Corporate and other 59,692 81,702 Total assets $ 476,116 $ 478,864 Three Months Ended Nine Months Ended 2018 2017 2018 2017 Sales of products, ethanol and by-products segment: Ethanol $ 91,538 $ 96,296 $ 283,720 $ 276,553 Dried distillers grains 24,683 16,703 65,826 45,325 Non-food grade corn oil 4,964 6,041 15,019 15,359 Modified distillers grains 2,340 1,889 8,100 5,557 Other 21 42 52 64 Total $ 123,546 $ 120,971 $ 372,717 $ 342,858 Sales of products, refined coal segment: Refined coal $ 204 $ 193 $ 610 $ 193

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	9 Months Ended
	Oct. 31, 2018
Accounting Policies [Abstract]
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents Cash and cash equivalents includes bank deposits as well as short-term, highly liquid investments with original maturities of three months or less.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition For ethanol and by-products segment sales, the Company recognizes sales of ethanol, distillers grains and non-food grade corn oil when obligations under the terms of the respective contracts with customers are satisfied; this occurs with the transfer of control of products, 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 of refined coal when obligations under the term of the contract with its customer are satisfied; this occurs when title and control of the product 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 the processed refined coal is sold.
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, beginning August 10, 2017, the date of the refined coal acquisition (see Note 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 $0.9 million and approximately $6.8 million during the nine months ended October 31, 2018 and 2017, respectively. The Company did not receive any refunds of income taxes during the nine months ended October 31, 2018. The Company received refunds of state income taxes of approximately $0.5 million during the nine months ended October 31, 2017. As of October 31, 2018 and January 31, 2018, total unrecognized tax benefits were approximately $6.6 million and $2.0 million, respectively. Accrued penalties and interest were approximately $0.4 million at October 31, 2018 and January 31, 2018. If the Company were to prevail on all unrecognized tax benefits recorded, the provision for income taxes would be reduced by approximately $6.0 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. At October 31, 2018, there was a permanent write-down of inventory of approximately $0.4 million. There was no significant permanent write-down of inventory at January 31, 2018. 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, Ethanol and other finished goods $ 6,014 $ 8,402 Work in process 2,924 2,824 Grain and other raw materials 12,698 9,529 Total $ 21,636 $ 20,755
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 5 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 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. Short-term investments are considered held to maturity, and, therefore are carried at amortized historical cost.
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 Effective February 1, 2018, the Company adopted the amended guidance in ASC Topic 606 “ Revenue from Contracts with Customers Effective February 1, 2018, the Company prospectively adopted Accounting Standards Update “ASU” 2016-15 “ Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments Effective February 1, 2018, the Company adopted ASU 2016-18 “ Statement of Cash Flows (Topic 230), Restricted Cash”. In February 2016, the FASB issued ASU 2016-02 “Leases”. This standard requires that virtually all leases will be recognized by lessees on their balance sheet as a right-of-use asset and a corresponding lease liability, including leases currently accounted for as operating leases. The Company will be required to adopt this standard effective February 1, 2019. The related leases are currently accounted for as operating leases (see Note 5). This standard requires a modified retrospective transition approach and allows for early adoption. In July 2018, FASB issued Accounting Standards Update, Leases (Topic 842): Targeted Improvements

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Oct. 31, 2018
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, Ethanol and other finished goods $ 6,014 $ 8,402 Work in process 2,924 2,824 Grain and other raw materials 12,698 9,529 Total $ 21,636 $ 20,755

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	9 Months Ended
	Oct. 31, 2018
Business Combinations [Abstract]
Schedule of Finite-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, 2018
Leases [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	At October 31, 2018, 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 Remainder of 2019 $ 1,982 2020 7,220 2021 5,865 2022 5,182 2023 3,600 Thereafter 7,123 Total $ 30,972

FAIR VALUE (Tables)

FAIR VALUE (Tables)	9 Months Ended
	Oct. 31, 2018
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, 2018 are summarized below (amounts in thousands): Level 1 Level 2 Level 3 Fair Value Investment in cooperative (2) $ — $ — $ 333 $ 333 Commodity futures and options (5) — 72 — 72 Total assets $ — $ 72 $ 333 $ 405 Commodity futures (3) $ — $ — $ — $ — Forward purchase contract liability (4) — 528 — 528 Total liabilities $ — $ 528 $ — $ 528 Level 1 Level 2 Level 3 Fair Value Forward purchase contracts asset (1) $ — $ 72 $ — $ 72 Investment in cooperative (2) — — 333 333 Total assets $ — $ 72 $ 333 $ 405 Commodity futures (3) $ — $ 87 $ — $ 87 Forward purchase contract liability (4) — 34 — 34 Total liabilities $ — $ 121 $ — $ 121 (1) The forward purchase contract asset is 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) Commodity futures are included in “Accrued expenses and other current liabilities” 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. (5) The commodity futures and options asset is included in “Prepaid expenses and other current assets”.

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	9 Months Ended
	Oct. 31, 2018
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, Land and improvements $ 21,095 $ 21,074 Buildings and improvements 23,609 23,272 Machinery, equipment and fixtures 295,114 288,832 Construction in progress 3,241 3,155 343,059 336,333 Less: accumulated depreciation (156,601 ) (138,506 ) Total $ 186,458 $ 197,827

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	9 Months Ended
	Oct. 31, 2018
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, January 31, Real estate taxes refundable $ 7,290 $ 6,719 Deferred income taxes 563 — Deposits — 5 Other 709 730 Total $ 8,562 $ 7,454

ACCRUED EXPENSES AND OTHER CU_2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	9 Months Ended
	Oct. 31, 2018
Disclosure Text Block Supplement [Abstract]
Schedule of Accrued 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, Accrued payroll and related items $ 2,252 $ 5,108 Accrued utility charges 2,167 2,639 Accrued real estate taxes 2,007 2,678 Accrued income taxes 62 61 Other 3,737 3,230 Total $ 10,225 $ 13,716

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Oct. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [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 October 31, January 31, October 31, January 31, Commodity futures (1) $ 72 $ — $ — $ 87 Forward purchase contracts (2) — 72 528 34 Total $ 72 $ 72 $ 528 $ 121 (1) Commodity futures liabilities are included in accrued expenses and other current liabilities. Commodity futures assets are included in prepaid expenses and other current assets. These contracts are short/sell positions for approximately 2.7 million bushels of corn at October 31, 2018. These contracts are short/sell positions for approximately 2.5 million bushels of corn and approximately 2.8 million gallons of ethanol and long/buy positions for approximately 2.8 million gallons of ethanol at January 31, 2018. (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 2.6 million and 11.7 million bushels of corn at October 31, 2018 and January 31, 2018, respectively.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
	Oct. 31, 2018
Investments Schedule [Abstract]
Equity Method Investments [Table Text Block]	The following table summarizes the Company’s equity method investment at October 31, 2018 and January 31, 2018 (dollars in thousands): Entity Ownership Percentage Carrying Amount Carrying Amount Big River 10.3 % $ 33,724 $ 34,549
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 2018 2017 2018 2017 Net sales and revenue $ 196,169 $ 201,621 $ 600,204 $ 606,190 Gross profit $ 15,150 $ 18,620 $ 39,489 $ 38,363 Income from continuing operations $ 5,932 $ 11,010 $ 21,164 $ 19,628 Net income $ 5,932 $ 11,010 $ 21,164 $ 19,628
Schedule of Defined Benefit Plans Disclosures [Table Text Block]	The following table summarizes the Company’s held-to-maturity security at October 31, 2018 (dollars in thousands): Amortized Gross Unrealized Estimated United States Treasury Bill $ 14,891 $ 5 $ 14,886

EMPLOYEE BENEFITS (Tables)

EMPLOYEE BENEFITS (Tables)	9 Months Ended
	Oct. 31, 2018
Disclosure Text Block Supplement [Abstract]
Nonvested Restricted Stock Shares Activity [Table Text Block]	The following tables summarize non-vested restricted stock award activity for the nine months ended October 31, 2018 and 2017: Nine Months Ended October 31, 2018 Non-Vested Weighted Weighted Non-Vested at January 31, 2018 29,415 $ 2,275 2 Granted 21,745 1,622 Forfeited — — Vested 13,124 963 Non-Vested at October 31, 2018 38,036 $ 2,934 2 Nine Months Ended October 31, 2017 Non-Vested Weighted Weighted 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

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Oct. 31, 2018
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 2018 2017 Unrecognized tax benefits, beginning of period $ 2,325 $ 2,096 Changes for prior years’ tax positions 4,666 247 Changes for current year tax positions — — Unrecognized tax benefits, end of period $ 6,991 $ 2,343

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Oct. 31, 2018
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 2018 2017 2018 2017 Net sales and revenue: Ethanol and by-products $ 123,546 $ 120,971 $ 372,717 $ 342,858 Refined coal 1 204 193 610 193 Total net sales and revenue $ 123,750 $ 121,164 $ 373,327 $ 343,051 Segment gross profit (loss): Ethanol and by-products $ 11,260 $ 18,257 $ 38,475 $ 41,527 Refined coal (3,513 ) (3,390 ) (10,478 ) (3,390 ) Total gross profit $ 7,747 $ 14,867 $ 27,997 $ 38,137 Income (loss) before income taxes: Ethanol and by-products $ 8,405 $ 15,554 $ 29,491 $ 31,807 Refined coal (4,240 ) (5,684 ) (11,887 ) (5,684 ) Corporate and other (410 ) (611 ) (1,341 ) (2,389 ) Total income (loss) before income taxes $ 3,755 $ 9,259 $ 16,263 $ 23,734 Benefit (provision) for income taxes: Ethanol and by-products $ 1,643 $ (4,379 ) $ (1,806 ) $ (9,712 ) Refined coal 8,318 9,918 19,914 9,918 Corporate and other 53 196 240 837 Total benefit (provision) for income taxes $ 10,014 $ 5,735 $ 18,348 $ 1,043 Segment profit (loss) (net of noncontrolling interests): Ethanol and by-products $ 7,946 $ 9,058 $ 23,096 $ 17,665 Refined coal 4,260 4,520 8,549 4,520 Corporate and other (331 ) (410 ) (1,057 ) (1,532 ) Net income attributable to REX common shareholders $ 11,875 $ 13,168 $ 30,588 $ 20,653 Three Months Ended Nine Months Ended 2018 2017 2018 2017 Sales of products, ethanol and by-products segment: Ethanol $ 91,538 $ 96,296 $ 283,720 $ 276,553 Dried distillers grains 24,683 16,703 65,826 45,325 Non-food grade corn oil 4,964 6,041 15,019 15,359 Modified distillers grains 2,340 1,889 8,100 5,557 Other 21 42 52 64 Total $ 123,546 $ 120,971 $ 372,717 $ 342,858 Sales of products, refined coal segment: Refined coal $ 204 $ 193 $ 610 $ 193 1
Assets [Member]
Segment Reporting (Tables) [Line Items]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	October 31, January 31, Assets: Ethanol and by-products $ 407,094 $ 384,997 Refined coal 9,330 12,165 Corporate and other 59,692 81,702 Total assets $ 476,116 $ 478,864

Consolidated Condensed Financ_2

Consolidated Condensed Financial Statements (Details)	3 Months Ended	9 Months Ended	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2018	Jan. 31, 2017
Consolidated Condensed Financial Statements (Details) [Line Items]
Number of Consolidated Subsidiaries		4
Number of Reportable Segments	2	2	1
Ethanol [Member]
Consolidated Condensed Financial Statements (Details) [Line Items]
Number of Operating Segments		3
Ethanol [Member] | Majority-Owned Subsidiary, Unconsolidated [Member]
Consolidated Condensed Financial Statements (Details) [Line Items]
Number of Operating Segments		2
Refined Coal [Member] | Majority-Owned Subsidiary, Unconsolidated [Member]
Consolidated Condensed Financial Statements (Details) [Line Items]
Number of Operating Segments		1

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	9 Months Ended		12 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Jan. 31, 2018	Jan. 31, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Income Taxes Paid	$ 900,000
Proceeds from Income Tax Refunds		$ 500,000
Unrecognized Tax Benefits	6,600,000	2,000,000	$ 2,325,000	$ 2,096,000
Inventory Write-down	$ 400,000		0
Property, Plant and Equipment, Depreciation Methods	Depreciation iscomputed using the straight-line method.
Asset Impairment Charges	$ 0	0
Cash and Cash Equivalents, Period Increase (Decrease)		230,000	354,000	$ 130,000
Provision for Income Taxes [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Unrecognized Tax Benefits		6,000,000
Cost of Sales [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Maximum Percentage of Equity Ownership Interest Which May be Considered for Equity Method of Accounting	20.00%
Minimum [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Income Taxes Paid		$ 6,800,000
Minimum [Member] | Building and Building Improvements [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	5
Minimum [Member] | Fixtures And Equipment [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	2
Maximum [Member] | Building and Building Improvements [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	40 years
Maximum [Member] | Fixtures And Equipment [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	20years
Customer Concentration Risk [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Income Tax Examination, Penalties and Interest Accrued	$ 400,000		$ 400,000
Accounting Standards Update 2016-15 [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Description	Effective February 1, 2018, the Companyprospectively adopted Accounting Standards Update “ASU” 2016-15 “Statement of Cash Flows (Topic 230), Classificationof Certain Cash Receipts and Cash Payments”. This standard provides guidance on eight specific cash flow issues. Thecash flow issues covered by this ASU are: 1) debt prepayment or debt extinguishment costs; 2) settlement of zero-coupon debt instrumentsor other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of theborrowing; 3) contingent consideration payments made after a business combination; 4) proceeds from the settlement of insuranceclaims; 5) proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies;6) distributions received from equity method investees; 7) beneficial interests in securitization transactions; and 8) separatelyidentifiable cash flows and application of the predominance principle for distributions received from equity method investeesin the Statement of Cash Flows. The adoption of this standard did not affect the consolidated condensed financial statements andrelated disclosures.
Accounting Standards Update 2016-18 [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Description	Effective February 1, 2018, the Companyadopted ASU 2016-18 “Statement of Cash Flows (Topic 230), Restricted Cash”. This standard requires that thestatements of cash flows explain the changes in the combined total of restricted and unrestricted cash balances. Amounts generallydescribed as restricted cash will be combined with unrestricted cash and cash equivalents when reconciling the beginning and endof period balances on the statements of cash flows. The Company adopted this standard retrospectively. Therefore, the beginningperiod balance of cash and cash equivalents as of January 31, 2017 was increased by $130,000, the end of period balance of cashand cash equivalents as of October 31, 2017 was increased by $230,000 and the beginning period balance of cash and cashequivalents as of January 31, 2018 was increased by $354,000 to reflect the respective restricted cash amounts.
Accounting Standards Update 2016-02 [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Description	In February 2016, the FASB issued ASU 2016-02“Leases”. This standard requires that virtually all leases will be recognized by lessees on their balance sheet asa right-of-use asset and a corresponding lease liability, including leases currently accounted for as operating leases. The Companywill be required to adopt this standard effective February 1, 2019. The related leases are currently accounted for as operatingleases (see Note 5). This standard requires a modified retrospective transition approach and allows for early adoption. In July2018, FASB issued Accounting Standards Update, Leases (Topic 842): Targeted Improvements, which provides an option to applythe transition provisions of the new standard at the adoption date instead of the earliest comparative period presented in thefinancial statements. The Company has not completed its analysis of the effect of adopting this guidance but it does expect theadoption of this guidance to have a material impact on its Consolidated Balance Sheet related to the right-of-use asset and leaseobligation liability to be recognized upon adoption of this guidance in addition to requiring expanded disclosures in the Company’sconsolidated financial statements. The Company expects to complete its analysis of the impact of adopting this guidance duringthe fourth quarter of fiscal year 2018.

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Schedule of Components of Inventory - USD ($) $ in Thousands	Oct. 31, 2018	Jan. 31, 2018
Schedule of Components of Inventory [Abstract]
Ethanol and other finished goods	$ 6,014	$ 8,402
Work in process	2,924	2,824
Grain and other raw materials	12,698	9,529
Total	$ 21,636	$ 20,755

BUSINESS COMBINATIONS (Details)

BUSINESS COMBINATIONS (Details) - Refined Coal [Member] - USD ($)	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017	Jan. 31, 2018	Aug. 10, 2017
BUSINESS COMBINATIONS (Details) [Line Items]
Income Tax Expense (Benefit)	$ (8,318,000)	$ (9,918,000)	$ (19,914,000)	$ (9,918,000)
Business Acquisition, Pro Forma Earnings Per Share, Basic (in Dollars per share)				$ 0.16
Business Acquisition, Pro Forma Revenue			1,000,000
Business Acquisition, Pro Forma Net Income (Loss)			14,200,000
Payments to Acquire Businesses, Gross			$ 12,049,000
Business Acquisition, Transaction Costs					$ 2,500,000
Pro Forma [Member]
BUSINESS COMBINATIONS (Details) [Line Items]
Costs and Expenses				$ 1,385,000
Selling, General and Administrative Expense				370,000
Net Income (Loss) Attributable to Parent				1,037,000
Pro Forma1 Member
BUSINESS COMBINATIONS (Details) [Line Items]
Income Tax Expense (Benefit)				$ 667,000
Refined Coal Facility [Member]
BUSINESS COMBINATIONS (Details) [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent						95.35%

BUSINESS COMBINATIONS (Detail_2

BUSINESS COMBINATIONS (Details) - Schedule of Estimated Fair Values of Assets Acquired at Acquisition Date $ in Thousands	6 Months Ended
	Jul. 31, 2018USD ($)
Schedule of Estimated Fair Values of Assets Acquired at Acquisition Date [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, 2018USD ($)
Schedule of Future Minimum Rental Payments for Operating Leases [Abstract]
Remainder of 2019	$ 1,982
2,020	7,220
2,021	5,865
2,022	5,182
2,023	3,600
Thereafter	7,123
Total	$ 30,972

FAIR VALUE (Details) - Schedule

FAIR VALUE (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis - USD ($) $ in Thousands		Oct. 31, 2018	Jan. 31, 2018
Derivative Financial Instruments, Liabilities [Member]
FAIR VALUE (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Commodity futures (3)	[1]		$ 87
Forward purchase contract liability (4)	[2]	528	34
Total liabilities		528	121
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 1 [Member]
FAIR VALUE (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Commodity futures (3)	[1]
Forward purchase contract liability (4)	[2]
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 2 [Member]
FAIR VALUE (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Commodity futures (3)	[1]		87
Forward purchase contract liability (4)	[2]	528	34
Total liabilities		528	121
Derivative Financial Instruments, Liabilities [Member] | Fair Value, Inputs, Level 3 [Member]
FAIR VALUE (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Commodity futures (3)	[1]
Forward purchase contract liability (4)	[2]
Derivative Financial Instruments, Assets [Member]
FAIR VALUE (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investment in cooperative (2)	[3]	333	333
Commodity futures and options	[4]	72
Total assets		405	405
Forward purchase contracts asset	[5]		72
Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 1 [Member]
FAIR VALUE (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investment in cooperative (2)	[3]
Commodity futures and options	[4]
Forward purchase contracts asset	[5]
Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 2 [Member]
FAIR VALUE (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investment in cooperative (2)	[3]
Commodity futures and options	[4]	72
Total assets		72	72
Forward purchase contracts asset	[5]		72
Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 3 [Member]
FAIR VALUE (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Investment in cooperative (2)	[3]	333	333
Commodity futures and options	[4]
Total assets		$ 333	333
Forward purchase contracts asset	[5]
[1]	Commodity futures are included in "Accrued expenses and other current liabilities" on the accompanying Consolidated Condensed Balance Sheets.
[2]	The forward purchase contract liability is included in "Accrued expenses and other current liabilities" 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 commodity futures and options asset is included in "Prepaid expenses and other current assets".
[5]	The forward purchase contract asset is included in "Prepaid expenses and other current assets" 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, 2018	Jan. 31, 2018
Schedule of Property and Equipment [Abstract]
Land and improvements	$ 21,095	$ 21,074
Buildings and improvements	23,609	23,272
Machinery, equipment and fixtures	295,114	288,832
Construction in progress	3,241	3,155
	343,059	336,333
Less: accumulated depreciation	(156,601)	(138,506)
Total	$ 186,458	$ 197,827

OTHER ASSETS (Details) - Schedu

OTHER ASSETS (Details) - Schedule of Other Assets - USD ($) $ in Thousands	Oct. 31, 2018	Jan. 31, 2018
Schedule of Other Assets [Abstract]
Real estate taxes refundable	$ 7,290	$ 6,719
Deferred income taxes	563
Deposits		5
Other	709	730
Total	$ 8,562	$ 7,454

ACCRUED EXPENSES AND OTHER CU_3

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - Schedule of accrued expenses and other current liabilities - USD ($) $ in Thousands	Oct. 31, 2018	Jan. 31, 2018
Schedule of accrued expenses and other current liabilities [Abstract]
Accrued payroll and related items	$ 2,252	$ 5,108
Accrued utility charges	2,167	2,639
Accrued real estate taxes	2,007	2,678
Accrued income taxes	62	61
Other	3,737	3,230
Total	$ 10,225	$ 13,716

REVOLVING LINES OF CREDIT (Deta

REVOLVING LINES OF CREDIT (Details) $ in Millions	9 Months Ended
	Oct. 31, 2018USD ($)
Debt Disclosure [Abstract]
Debt Instrument, Maturity Date	Jun. 1, 2019
Line of Credit Facility, Maximum Borrowing Capacity	$ 10

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS (Details) gal in Millions, bu in Millions	3 Months Ended		9 Months Ended
	Oct. 31, 2018USD ($)bu	Oct. 31, 2017USD ($)	Oct. 31, 2018USD ($)bu	Oct. 31, 2017USD ($)	Jan. 31, 2018bugal
DERIVATIVE FINANCIAL INSTRUMENTS (Details) [Line Items]
Debt Instrument, Collateral Amount	$ 434,000		$ 434,000
Derivative, Gain on Derivative	2,432,000	$ 75,000	2,273,000	$ 1,052,000
Derivative, Loss on Derivative	$ 64,000		$ 64,000
Corn [Member]
DERIVATIVE FINANCIAL INSTRUMENTS (Details) [Line Items]
Forward Purchase Contracts, Quantity (in US Bushels) | bu	2.6		2.6		11.7
Corn [Member] | Short/Sell [Member]
DERIVATIVE FINANCIAL INSTRUMENTS (Details) [Line Items]
Commodity Futures, Quantity | bu	2.7		2.7		2.5
Ethanol [Member] | Short/Sell [Member]
DERIVATIVE FINANCIAL INSTRUMENTS (Details) [Line Items]
Commodity Futures, Quantity | gal					2.8
Ethanol [Member] | Long/Buy [Member]
DERIVATIVE FINANCIAL INSTRUMENTS (Details) [Line Items]
Commodity Futures, Quantity | gal					2.8

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS (Details) - Schedule of Fair Values for Derivative Financial Instruments - USD ($) $ in Thousands		Oct. 31, 2018	Jan. 31, 2018
DERIVATIVE FINANCIAL INSTRUMENTS (Details) - Schedule of Fair Values for Derivative Financial Instruments [Line Items]
Asset Derivatives, Fair Value		$ 72	$ 72
Liability Derivatives, Fair Value		528	121
Commodity Contract [Member]
DERIVATIVE FINANCIAL INSTRUMENTS (Details) - Schedule of Fair Values for Derivative Financial Instruments [Line Items]
Asset Derivatives, Fair Value	[1]	72
Liability Derivatives, Fair Value	[1]		87
Forward Contracts [Member]
DERIVATIVE FINANCIAL INSTRUMENTS (Details) - Schedule of Fair Values for Derivative Financial Instruments [Line Items]
Asset Derivatives, Fair Value	[2]		72
Liability Derivatives, Fair Value	[2]	$ 528	$ 34
[1]	Commodity futures liabilities are included in accrued expenses and other current liabilities. Commodity futures assets are included in prepaid expenses and other current assets. These contracts are short/sell positions for approximately 2.7 million bushels of corn at October 31, 2018. These contracts are short/sell positions for approximately 2.5 million bushels of corn and approximately 2.8 million gallons of ethanol and long/buy positions for approximately 2.8 million gallons of ethanol at January 31, 2018.
[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 2.6 million and 11.7 million bushels of corn at October 31, 2018 and January 31, 2018, respectively.

INVESTMENTS (Details)

INVESTMENTS (Details) - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Jan. 31, 2018
INVESTMENTS (Details) [Line Items]
Proceeds from Equity Method Investment, Distribution	$ 3,007	$ 4,009
Yield To Maturity Rates Minimum	2.34%
Big River [Member]
INVESTMENTS (Details) [Line Items]
Retained Earnings, Undistributed Earnings from Equity Method Investees	$ 13,700		$ 14,500
Proceeds from Equity Method Investment, Distribution	$ 3,000	$ 4,000

INVESTMENTS (Details) - Schedul

INVESTMENTS (Details) - Schedule of Equity Method Investments - USD ($) $ in Thousands	Oct. 31, 2018	Jan. 31, 2018
Schedule of Equity Method Investments [Abstract]
Big River	10.30%
Big River	$ 33,724	$ 34,549

INVESTMENTS (Details) - Sched_2

INVESTMENTS (Details) - Schedule of Financial information For Equity Method Investment - Big River [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
INVESTMENTS (Details) - Schedule of Financial information For Equity Method Investment [Line Items]
Net sales and revenue	$ 196,169	$ 201,621	$ 600,204	$ 606,190
Gross profit	15,150	18,620	39,489	38,363
Income from continuing operations	5,932	11,010	21,164	19,628
Net income	$ 5,932	$ 11,010	$ 21,164	$ 19,628

INVESTMENTS (Details) - Sched_3

INVESTMENTS (Details) - Schedule of Held To Maturity Securities $ in Thousands	9 Months Ended
	Oct. 31, 2018USD ($)
Schedule of Held To Maturity Securities [Abstract]
United States Treasury Bill	$ 14,891
United States Treasury Bill	5
United States Treasury Bill	$ 14,886

EMPLOYEE BENEFITS (Details)

EMPLOYEE BENEFITS (Details) - USD ($)	Oct. 31, 2018	Jan. 31, 2018	Oct. 31, 2017	Jan. 31, 2017
EMPLOYEE BENEFITS (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	38,036	29,415	29,415	23,350
Rex Shareholders [Member]
EMPLOYEE BENEFITS (Details) [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars)	$ 237,000	$ 233,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	34,148		24,711
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	489,430

EMPLOYEE BENEFITS (Details) - S

EMPLOYEE BENEFITS (Details) - Schedule of Non-Vested Restricted Stock Award Activity - USD ($) $ / shares in Thousands, $ in Thousands	9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017
Schedule of Non-Vested Restricted Stock Award Activity [Abstract]
Non-Vested Shares, Beginning of Period	29,415	23,350
Weighted Average Grant Date Fair Value,Beginning of Period (in Dollars)	$ 2,275	$ 1,386
Weighted Average Vesting Term, Beginning of Period	2 years	2 years
Non-Vested Shares, Granted	21,745	14,156
Weighted Average Grant Date Fair Value, Granted (in Dollars per share)	$ 1,622	$ 1,370
Non-Vested Shares, Forfeited
Weighted Average Grant Date Fair Value, Forfeited (in Dollars)
Non-Vested Shares, Vested	13,124	8,091
Weighted Average Grant Date Fair Value, Vested (in Dollars)	$ 963	$ 481
Non-Vested Shares, End of Period	38,036	29,415
Weighted Average Grant Date Fair Value, End of Period (in Dollars)	$ 2,934	$ 2,275
Weighted Average Vesting Term, End of Period	2 years	2 years

Income Taxes (Details)

Income Taxes (Details) - USD ($)	Jan. 31, 2018	Jan. 01, 2018	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Depreciation, Percent			(266.70%)	(61.90%)	(112.80%)	(4.40%)
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		21.00%
Deferred Other Tax Expense (Benefit) (in Dollars)	$ (14,362,000)

Income Taxes (Details) - Schedu

Income Taxes (Details) - Schedule of Unrecognized Tax Benefits Roll Forward - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017
Schedule of Unrecognized Tax Benefits Roll Forward [Abstract]
Unrecognized tax benefits, beginning of period	$ 2,325	$ 2,096
Changes for prior years’ tax positions	4,666	247
Unrecognized tax benefits, end of period	$ 6,991	$ 2,343

Commitments and Contingencies (

Commitments and Contingencies (Details) lb in Millions, gal in Millions, bu in Millions, $ in Millions	9 Months Ended
	Oct. 31, 2018USD ($)MMBTUTlbbugal
One Earth Energy And Nu Gen Energy [Member]
Commitments and Contingencies (Details) [Line Items]
Quantity of Bushels under Forward Purchase Contract | bu	6.5
Quantity Of Natural Gas Under Sales Commitment | MMBTU	2,732,000
Quantity of Ethanol under Sales Commitment | gal	37.9
Quantity of Distillers Grains Under Sales Commitment | T	109,000
Quantity of Non-food Grade Corn Oil Under Sales Commitments | lb	19.1
Refined Coal [Member]
Commitments and Contingencies (Details) [Line Items]
Fees Incurred By Subsidiary | $	$ 7.7

Related-Party Transactions (Det

Related-Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017	Jan. 31, 2018
Related-Party Transactions (Details) [Line Items]
Costs and Expenses, Related Party			$ 138.6	$ 121.8
Accounts Payable, Related Parties, Current	$ 2		2		$ 0.9
Accrued Liabilities for Commissions, Expense and Taxes	1.6		1.6		$ 1.5
Refined Coal [Member]
Related-Party Transactions (Details) [Line Items]
Payments for Commissions	0.4	$ 1.6	$ 0.7	$ 1.6
One Earth Energy And Nu Gen Energy [Member]
Related-Party Transactions (Details) [Line Items]
Costs and Expenses, Related Party	$ 47.3	$ 43.4

Segment Reporting (Details)

Segment Reporting (Details)	3 Months Ended	9 Months Ended	12 Months Ended
	Oct. 31, 2017	Oct. 31, 2018	Jan. 31, 2017
Segment Reporting [Abstract]
Number of Reportable Segments	2	2	1

Segment Reporting (Details) - S

Segment Reporting (Details) - Schedule Of Segment Results And Assets - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Segment Reporting Information [Line Items]
Net sales and revenue:		$ 123,750	$ 121,164	$ 373,327	$ 343,051
Segment gross profit (loss):		7,747	14,867	27,997	38,137
Income (loss) before income taxes:		3,755	9,259	16,263	23,734
Benefit (provision) for income taxes:		10,014	5,735	18,348	1,043
Segment profit (loss):		11,875	13,168	30,588	20,653
Sales of products, ethanol and by-products and refined coal segments:		123,546	120,971	372,717	342,858
Ethanol [Member]
Segment Reporting Information [Line Items]
Net sales and revenue:		123,546	120,971	372,717	342,858
Segment gross profit (loss):		11,260	18,257	38,475	41,527
Income (loss) before income taxes:		8,405	15,554	29,491	31,807
Benefit (provision) for income taxes:		1,643	(4,379)	(1,806)	(9,712)
Segment profit (loss):		7,946	9,058	23,096	17,665
Sales of products, ethanol and by-products and refined coal segments:		91,538	96,296	283,720	276,553
Refined Coal [Member]
Segment Reporting Information [Line Items]
Net sales and revenue:	[1]	204	193	610	193
Segment gross profit (loss):		(3,513)	(3,390)	(10,478)	(3,390)
Income (loss) before income taxes:		(4,240)	(5,684)	(11,887)	(5,684)
Benefit (provision) for income taxes:		8,318	9,918	19,914	9,918
Segment profit (loss):		4,260	4,520	8,549	4,520
Sales of products, ethanol and by-products and refined coal segments:		204	193	610	193
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Income (loss) before income taxes:		(410)	(611)	(1,341)	(2,389)
Benefit (provision) for income taxes:		53	196	240	837
Segment profit (loss):		(331)	(410)	(1,057)	(1,532)
Dried Distillers Grains [Member]
Segment Reporting Information [Line Items]
Sales of products, ethanol and by-products and refined coal segments:		24,683	16,703	65,826	45,325
Non-Food Grade Corn Oil [Member]
Segment Reporting Information [Line Items]
Sales of products, ethanol and by-products and refined coal segments:		4,964	6,041	15,019	15,359
Modified Distillers Grains [Member]
Segment Reporting Information [Line Items]
Sales of products, ethanol and by-products and refined coal segments:		2,340	1,889	8,100	5,557
Other Segments [Member]
Segment Reporting Information [Line Items]
Sales of products, ethanol and by-products and refined coal segments:		$ 21	$ 42	$ 52	$ 64
[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.

Segment Reporting (Details) -_2

Segment Reporting (Details) - Schedule Of Segment Assets - USD ($) $ in Thousands	Oct. 31, 2018	Jan. 31, 2018
Segment Reporting Information [Line Items]
Assets	$ 476,116	$ 478,864
Ethanol [Member]
Segment Reporting Information [Line Items]
Assets	407,094	384,997
Refined Coal [Member]
Segment Reporting Information [Line Items]
Assets	9,330	12,165
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Assets	$ 59,692	$ 81,702