REX American Resources (REX) 10-Q 4 Dec 20 2020 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Oct. 31, 2020	Dec. 03, 2020
Document Information Line Items
Entity Registrant Name	REX AMERICAN RESOURCES CORPORATION
Trading Symbol	REX
Document Type	10-Q
Current Fiscal Year End Date	--01-31
Entity Common Stock, Shares Outstanding		5,992,002
Amendment Flag	false
Entity Central Index Key	0000744187
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Period End Date	Oct. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-09097
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	31-1095548
Entity Address, Address Line One	7720 Paragon Road
Entity Address, City or Town	Dayton
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45459
City Area Code	937
Local Phone Number	276-3931
Title of 12(b) Security	Common stock, $0.01 par value
Security Exchange Name	NYSE
Entity Interactive Data Current	Yes

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 31, 2020	Jan. 31, 2020
Current assets:
Cash and cash equivalents	$ 173,075	$ 179,658
Short-term investments	29,216	26,073
Restricted cash	884	1,113
Accounts receivable	12,496	12,969
Inventory	21,616	35,634
Refundable income taxes	5,947	6,029
Prepaid expenses and other	9,771	9,659
Total current assets	253,005	271,135
Property and equipment, net	154,401	163,327
Operating lease right-of-use assets	14,054	16,173
Deferred taxes	22,297	17,061
Other assets	1,278	342
Equity method investment	30,126	32,464
Total assets	475,161	500,502
Current liabilities:
Accounts payable, trade (includes $777 and $686 with related parties at October 31, 2020 and January 31, 2020, respectively)	15,588	18,900
Current operating lease liabilities	5,105	4,935
Accrued expenses and other current liabilities (includes $186 and $474 with related parties at October 31, 2020 and January 31, 2020, respectively)	6,049	7,764
Total current liabilities	26,742	31,599
Long-term liabilities:
Deferred taxes	4,138	4,334
Long-term operating lease liabilities	8,548	10,688
Other long-term liabilities	282	275
Total long-term liabilities	12,968	15,297
REX shareholders’ equity:
Common stock	299	299
Paid-in capital	149,077	148,789
Retained earnings	586,443	586,985
Treasury stock	(353,910)	(335,066)
Total REX shareholders’ equity	381,909	401,007
Noncontrolling interests	53,542	52,599
Total equity	435,451	453,606
Total liabilities and equity	$ 475,161	$ 500,502

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Oct. 31, 2020	Jan. 31, 2020
Statement of Financial Position [Abstract]
Accounts payable, related parties	$ 777	$ 686
Accrued expenses, related parties	$ 186	$ 474

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019
Income Statement [Abstract]
Net sales and revenue	$ 124,251	$ 86,671	$ 246,828	$ 297,114
Cost of sales (includes $16,861 and $58,536 with related parties for the quarters ended October 31, 2020 and 2019, respectively, and $34,021 and $148,743 with related parties for the nine months ended October 31, 2020 and 2019, respectively	106,572	88,429	239,810	291,222
Gross profit (loss)	17,679	(1,758)	7,018	5,892
Selling, general and administrative expenses (includes $(15) and $(242) with related parties for the quarters ended October 31, 2020 and 2019, respectively, and $(160) and $(577) with related parties for the nine months ended October 31, 2020 and 2019, respectively)	(4,257)	(4,133)	(13,300)	(13,629)
Equity in income (loss) of unconsolidated affiliates	1,152	(15)	168	350
Interest and other income, (net)	537	1,002	1,403	3,381
Income (loss) before income taxes	15,111	(4,904)	(4,711)	(4,006)
(Provision) benefit for income taxes	(4,052)	3,231	5,307	9,401
Net income (loss)	11,059	(1,673)	596	5,395
Net income attributable to noncontrolling interests	(2,218)	(379)	(1,138)	(2,370)
Net income (loss) attributable to REX common shareholders	$ 8,841	$ (2,052)	$ (542)	$ 3,025
Weighted average shares outstanding – basic and diluted (in Shares)	6,143	6,319	6,221	6,318
Basic and diluted net income (loss) per share attributable to REX common shareholders (in Dollars per share)	$ 1.44	$ (0.32)	$ (0.09)	$ 0.48

CONSOLIDATED STATEMENTS OF OP_2

CONSOLIDATED STATEMENTS OF OPERATIONS (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019
Income Statement [Abstract]
Cost of sales, related parties	$ 16,861	$ 58,536	$ 34,021	$ 148,743
Selling, general and administrative expenses, related parties	$ (15)	$ (242)	$ (160)	$ (577)

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, 2019	$ 299	$ (335,193)	$ 148,273	$ 579,558	$ 52,334	$ 445,271
Balance (in Shares) at Jan. 31, 2019	29,853	23,580
Net (loss) income				3,025	2,370	5,395
Noncontrolling interests distribution and other					(2,598)	(2,598)
Capital contributions					258	258
Issuance of equity awards and stock based compensation expense		$ 120	483			603
Issuance of equity awards and stock based compensation expense (in Shares)		(19)
Stock based compensation expense						215
Balance at Oct. 31, 2019	$ 299	$ (335,073)	148,756	582,583	52,364	448,929
Balance (in Shares) at Oct. 31, 2019	29,853	23,561
Balance at Jul. 31, 2019	$ 299	$ (335,080)	148,724	584,635	51,912	450,490
Balance (in Shares) at Jul. 31, 2019	29,853	23,561
Net (loss) income				(2,052)	379	(1,673)
Capital contributions					73	73
Stock based compensation expense		$ 7	32			39
Balance at Oct. 31, 2019	$ 299	$ (335,073)	148,756	582,583	52,364	448,929
Balance (in Shares) at Oct. 31, 2019	29,853	23,561
Balance at Jan. 31, 2020	$ 299	$ (335,066)	148,789	586,985	52,599	453,606
Balance (in Shares) at Jan. 31, 2020	29,853	23,561
Net (loss) income				(542)	1,138	596
Treasury stock acquired		$ (18,918)				(18,918)
Treasury stock acquired (in Shares)		306
Noncontrolling interests distribution and other					(283)	(283)
Capital contributions					88	88
Issuance of equity awards and stock based compensation expense		$ 74	288			362
Issuance of equity awards and stock based compensation expense (in Shares)		(15)
Stock based compensation expense						122
Balance at Oct. 31, 2020	$ 299	$ (353,910)	149,077	586,443	53,542	435,451
Balance (in Shares) at Oct. 31, 2020	29,853	23,852
Balance at Jul. 31, 2020	$ 299	$ (340,591)	149,044	577,602	51,385	437,739
Balance (in Shares) at Jul. 31, 2020	29,853	23,655
Net (loss) income				8,841	2,218	11,059
Treasury stock acquired		$ (13,328)				(13,328)
Treasury stock acquired (in Shares)		197
Noncontrolling interests distribution and other					(124)	(124)
Capital contributions					63	63
Stock based compensation expense		$ 9	33			42
Balance at Oct. 31, 2020	$ 299	$ (353,910)	$ 149,077	$ 586,443	$ 53,542	$ 435,451
Balance (in Shares) at Oct. 31, 2020	29,853	23,852

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	3 Months Ended	9 Months Ended
	Oct. 31, 2019USD ($)	Oct. 31, 2020USD ($)	Oct. 31, 2019USD ($)
Cash flows from operating activities:
Net income including noncontrolling interests	$ (1,673)	$ 596	$ 5,395
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation		15,697	17,682
Amortization of operating lease right-of-use assets		3,982	4,648
Income from equity method investments	15	(168)	(350)
Dividends received from equity method investee		2,506	1,003
Interest income from investments		(200)	(25)
Deferred income tax		(5,431)	(9,828)
Stock based compensation expense	39	122	215
Gain on sale of property and equipment – net		(58)
Changes in assets and liabilities:
Accounts receivable		473	(5,013)
Inventories		14,018	(12,561)
Refundable income taxes		82	473
Other assets		(517)	(583)
Accounts payable, trade		(4,302)	5,618
Other liabilities		(5,301)	(9,010)
Net cash provided by (used in) operating activities		21,499	(2,336)
Cash flows from investing activities:
Capital expenditures		(6,610)	(2,643)
Purchase of short-term investments		(68,225)
Sale of short-term investments		65,282	15,000
Other		(474)	369
Net cash (used in) provided by investing activities		(10,027)	12,726
Cash flows from financing activities:
Treasury stock acquired		(18,089)
Payments to noncontrolling interests holders		(283)	(2,598)
Capital contributions from minority investor	73	88	258
Net cash used in financing activities		(18,284)	(2,340)
Net (decrease) increase in cash, cash equivalents and restricted cash		(6,812)	8,050
Cash, cash equivalents and restricted cash, beginning of period		180,771	188,812
Cash, cash equivalents and restricted cash, end of period	196,862	173,959	196,862
Non cash investing activities – Accrued capital expenditures		198	272
Non cash financing activities – Stock awards accrued			99
Non cash financing activities – Stock awards issued		240	487
Initial right-of-use assets and liabilities recorded upon adoption of ASC 842	20,918		20,918
Right-of-use assets acquired and liabilities incurred upon lease execution		1,863	432
Cash and cash equivalents	196,339	173,075	196,339
Restricted cash	$ 523	$ 884	$ 523

Consolidated Condensed Financia

Consolidated Condensed Financial Statements	9 Months Ended
	Oct. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Condensed Financial Information of Parent Company Only Disclosure [Text Block]	Note 1. Consolidated Condensed Financial Statements References to the Company – References to “REX” or the “Company” in the consolidated condensed financial statements and in these notes to the consolidated condensed financial statements refer to REX American Resources Corporation, a Delaware corporation, and its majority and wholly owned subsidiaries. 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, 2020 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, 2020 (fiscal year 2019). 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, 2020. 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 the Company. 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 –The Company has two reportable segments: i) ethanol and by-products; and ii) refined coal. Within the ethanol and by-products segment, the Company has equity investments in three ethanol limited liability companies, two of which are majority ownership interests. Within the refined coal segment, the Company has a majority equity interest in one refined coal limited liability company.

Accounting Policies

Accounting Policies	9 Months Ended
	Oct. 31, 2020
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 2019 Annual Report on Form 10-K. While management believes that the procedures followed in the preparation of interim financial information are reasonable, the accuracy of some estimated amounts is dependent upon facts that will exist or calculations that will be accomplished at fiscal year-end. Examples of such estimates include accrued liabilities, such as management bonuses, and the provision for income taxes. Any adjustments pursuant to such estimates during the quarter were of a normal recurring nature. Actual results could differ from those estimates. 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. Net sales and revenue also includes net gains or losses from derivative financial instruments related to products sold. 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, general facility overhead charges and net gains or losses from derivative financial instruments related to commodities purchased. Selling, General and Administrative (“SG&A”) Expenses The Company includes non-production related costs such as professional fees, selling charges and certain payroll in SG&A 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 and swaps) to manage a portion of the risk associated with changes in commodity prices, primarily related to ethanol, corn and distillers grains. 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 determined that small changes in estimated “ordinary” income would result in significant changes in the estimated annual effective tax rate. Thus, the Company used a discrete effective tax rate method to calculate the provision or benefit for income taxes for the three and nine months ended October 31, 2020 and 2019. 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 $0.5 million and received refunds of income taxes of approximately $0.7 million during the nine months ended October 31, 2020. The Company paid no income taxes nor received refunds of income taxes during the nine months ended October 31, 2019. As of October 31, 2020, and January 31, 2020, total unrecognized tax benefits were approximately $7,298,000 and $7,353,000, respectively. Accrued penalties and interest were insignificant at October 31, 2020 and January 31, 2020, If the Company were to prevail on all unrecognized tax benefits recorded, the provision for income taxes would be reduced by approximately $7.3 million at October 31, 2020. 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 net realizable value on a first-in, first-out basis. Inventory includes direct production costs and certain overhead costs such as depreciation, property taxes and utilities associated with producing ethanol and related by-products. Inventory is written down for instances when cost exceeds estimated net realizable value; such write-downs are based primarily upon commodity prices as the market value of inventory is often dependent upon changes in commodity prices. There was no inventory write-down at October 31, 2020. The Company recorded approximately $1.3 million of inventory write-downs in cost of sales at January 31, 2020. Fluctuations in the write-down of inventory generally relate to the levels and composition of such inventory and changes in commodity prices at a given point in time. The components of inventory are as follows as of the dates presented (amounts in thousands): October 31, 2020 January 31, Ethanol and other finished goods $ 7,013 $ 10,864 Work in process 3,010 3,258 Grain and other raw materials 11,593 21,512 Total $ 21,616 $ 35,634 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 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. 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 In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12, “ Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

Net Sales and Revenue

Net Sales and Revenue	9 Months Ended
	Oct. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Note 3. Net Sales and Revenue 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 added 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. See Note 14 for disaggregation of net sales and revenue by operating segment and by product.

Leases

Leases	9 Months Ended
	Oct. 31, 2020
Disclosure Text Block [Abstract]
Leases of Lessee Disclosure [Text Block]	Note 4. Leases At October 31, 2020, the Company has lease agreements, as lessee, for railcars. All of the leases are accounted for as operating leases. The lease agreements do not contain a specified implicit interest rate; therefore, the Company’s estimated incremental borrowing rate was used to determine the present value of future minimum lease payments. The exercise of any lease renewal is at the Company’s sole discretion. The lease term for all of the Company’s leases includes the noncancelable period of the lease and any periods covered by renewal options that the Company is reasonably certain to exercise. Certain leases include rent escalations pre-set in the agreements, which are factored into the lease payment stream. The components of lease expense, classified as SG&A expenses on the Consolidated Condensed Statement of Operations, are as follows: Three Months Nine Months 2020 2019 2020 2019 Operating lease expense $ 1,545 $ 1,557 $ 4,779 $ 4,867 Variable lease expense 79 139 417 491 Total lease expense $ 1,624 $ 1,696 $ 5,196 $ 5,358 The following table is a summary of future minimum rentals on such leases at October 31, 2020 (amounts in thousands): Years Ended January 31, Minimum Rentals Remainder of 2021 $ 1,516 2022 5,397 2023 3,690 2024 2,524 2025 1,648 Thereafter 49 Total 14,824 Less: present value discount 1,171 Operating lease liabilities $ 13,653 At October 31, 2020, the weighted average remaining lease term is 3.1 years and the weighted average discount rate is 5.27% for the above leases. The following table is a summary of future minimum rentals on such leases at January 31, 2020 (amounts in thousands): Years Ended January 31, Minimum Rentals 2021 $ 5,668 2022 4,958 2023 3,251 2024 2,085 2025 1,228 Thereafter 29 Total 17,219 Less: present value discount 1,596 Operating lease liabilities $ 15,623 At January 31, 2020, the weighted average remaining lease term was 3.5 years and the weighted average discount rate was 5.46% for the above leases.

Fair Value

Fair Value	9 Months Ended
	Oct. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Note 5. Fair Value The Company applies ASC 820, “ Fair Value Measurements and Disclosures” The Company determines the fair market values of its financial instruments based on the fair value hierarchy established by ASC 820 which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair values which are provided below. The Company carries certain cash equivalents, investments and derivative instruments at fair value. The fair values of derivative assets and liabilities traded in the over-the-counter market are determined using quantitative models that require the use of multiple market inputs including interest rates, prices and indices to generate pricing and volatility factors, which are used to value the position. The predominance of market inputs are actively quoted and can be validated through external sources, including brokers, market transactions and third-party pricing services. Estimation risk is greater for derivative asset and liability positions that are either option-based or have longer maturity dates where observable market inputs are less readily available or are unobservable, in which case interest rate, price or index scenarios are extrapolated in order to determine the fair value. The fair values of derivative assets and liabilities include adjustments for market liquidity, counterparty credit quality, the Company’s own credit standing and other specific factors, where appropriate. 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, 2020 are summarized below (amounts in thousands): Level 1 Level 2 Level 3 Fair Value Investment in cooperative (1) $ - $ - $ 354 $ 354 Forward purchase contracts (2) - 351 - 351 Total assets $ - $ 351 $ 354 $ 705 Commodity futures and swaps liability (3) $ - $ 378 $ - $ 378 Financial assets and liabilities measured at fair value on a recurring basis at January 31, 2020 are summarized below (amounts in thousands): Level 1 Level 2 Level 3 Fair Value Investment in cooperative (1) $ - $ - $ 341 $ 341 Commodity futures and swaps (2) - 352 - 352 Total assets $ - $ 352 $ 341 $ 693 Forward purchase contract liability (3) $ - $ 230 $ - $ 230 (1) The investment in cooperative is included in “Other assets” on the accompanying Consolidated Condensed Balance Sheets. (2) The forward purchase contract asset and the commodity futures and swaps asset are included in “Prepaid expenses and other current assets” on the accompanying Consolidated Condensed Balance Sheets. (3) The forward purchase contract liability and the commodity futures and swaps liability are included in “Accrued expenses and other current liabilities” on the accompanying Consolidated Condensed Balance Sheets. The Company determined the fair value of the investment in cooperative by using a discounted cash flow analysis on the expected cash flows. Inputs used in the analysis include the face value of the allocated equity amount, the projected term for repayment based upon a historical trend and a risk adjusted discount rate based on the expected compensation participants would demand because of the uncertainty of the future cash flows. The inherent risk and uncertainty associated with unobservable inputs could have a significant effect on the actual fair value of the investment. There were no assets measured at fair value on a non-recurring basis at October 31, 2020 or January 31, 2020.

Property and Equipment

Property and Equipment	9 Months Ended
	Oct. 31, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	Note 6. Property and Equipment October 31, 2020 January 31, Land and improvements $ 26,244 $ 21,957 Buildings and improvements 23,643 23,643 Machinery, equipment and fixtures 302,367 300,972 Construction in progress 746 193 353,000 346,765 Less: accumulated depreciation (198,599) (183,438) Total $ 154,401 $ 163,327

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	9 Months Ended
	Oct. 31, 2020
Disclosure Text Block Supplement [Abstract]
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	Note 7. Accrued Expenses and Other Current Liabilities The components of accrued expenses and other current liabilities are as follows for the periods presented (amounts in thousands): October 31, 2020 January 31, Accrued payroll and related items $ 555 $ 1,152 Accrued utility charges 1,650 2,398 Accrued transportation related items 1,560 1,500 Accrued real estate taxes 1,348 1,755 Commodity futures 378 - Forward purchase contracts - 230 Accrued income taxes 43 68 Other 515 661 Total $ 6,049 $ 7,764

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Oct. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	Note 8. 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 natural gas) and sale (ethanol, distillers grains and non-food grade corn oil) contracts. The Company does not purchase or sell derivative financial instruments for trading or speculative purposes. The Company does not purchase or sell derivative financial instruments for which a lack of marketplace quotations would require the use of fair value estimation techniques. The following table provides information about the fair values of the Company’s derivative financial instruments (that are not accounted for under the “normal purchases and normal sales” scope exemption of ASC 815) and the line items on the Consolidated Condensed Balance Sheets in which the fair values are reflected (in thousands): Asset Derivatives Liability Derivatives Fair Value Fair Value October 31, 2020 January 31, 2020 October 31, 2020 January 31, 2020 Commodity futures and swaps (1) $ - $ 352 $ 378 $ - Forward purchase contracts (2) 351 - - 230 Total $ 351 $ 352 $ 378 $ 230 (1) Commodity futures and swaps assets are included in prepaid expenses and other current assets. These contracts are short/sell positions for approximately 3.7 million bushels of corn and long/buy positions for approximately 2.2 million bushels of corn at January 31, 2020. Commodity futures and swaps liabilities are included in accrued expenses and other current liabilities. These contracts are short/sell positions for approximately 4.6 million bushels of corn, long/buy positions for approximately 4.8 million bushels of corn and short/sell positions for approximately 4.2 million gallons of ethanol at October 31, 2020. (2) Forward purchase contracts assets are included in prepaid expenses and other current assets. These contracts are for purchases of approximately 5.4 million bushels of corn at October 31, 2020. Forward purchase contracts liabilities are included in accrued expenses and other current liabilities. These contracts are for purchases of approximately 1.6 million bushels of corn at January 31, 2020. As of October 31, 2020, and January 31, 2020, all 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, 2020, and January 31, 2020, 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. The Company was required to maintain collateral in the amount of approximately $884,000 and approximately $1,113,000 to secure the Company’s derivative position at October 31, 2020 and January 31, 2020, respectively. See Note 5 which contains fair value information related to derivative financial instruments. (Losses) gains on derivative financial instruments of approximately $(26,000) and approximately $248,000 for the third quarters of fiscal years 2020 and 2019, respectively, were included in cost of sales on the Consolidated Condensed Statements of Operations. (Losses) gains on derivative financial instruments of approximately $(1,785,000) and approximately $1,478,000 for the first nine months of fiscal years 2020 and 2019, respectively, were included in cost of sales on the Consolidated Condensed Statements of Operations. Losses on derivative financial instruments of approximately $777,000 and $1,076,000 for the third quarter and first nine months, respectively, of fiscal year 2020 were included in net sales and revenue on the Consolidated Condensed Statements of Operations.

Investments

Investments	9 Months Ended
	Oct. 31, 2020
Disclosure Text Block Supplement [Abstract]
Investment [Text Block]	Note 9. Investments The following table summarizes the Company’s equity method investment at October 31, 2020 and January 31, 2020 (dollars in thousands): Ownership Carrying Amount Entity Percentage October 31, 2020 January 31, 2020 Big River 10.3% $30,126 $32,464 Undistributed earnings of the Company’s equity method investee totaled approximately $10.1 million and approximately $12.4 million at October 31, 2020 and January 31, 2020, respectively. The Company received dividends from its equity method investee of approximately $2.5 million and approximately $1.0 million during the first nine months of fiscal years 2020 and 2019, 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 2020 2019 2020 2019 Net sales and revenue $ 209,397 $ 220,387 $ 537,155 $ 598,187 Gross profit $ 15,419 $ 10,269 $ 13,041 $ 18,864 Income (loss) from continuing operations $ 11,167 $ (149) $ 1,627 $ 3,397 Net income (loss) $ 11,167 $ (149) $ 1,627 $ 3,397 At October 31, 2020, the Company owned certificates of deposit that had an amortized cost, or carrying value, of approximately $29,216,000. The contractual maturity of these investments was less than one year. The yield to maturity rate was approximately 0.2%. Unrealized gains or losses were insignificant. At January 31, 2020, the Company owned certificates of deposit that had an amortized cost, or carrying value, of approximately $26,073,000. The contractual maturity of these investments was less than one year. The yield to maturity rate was approximately 1.8%. Unrealized gains or losses were insignificant.

Employee Benefits

Employee Benefits	9 Months Ended
	Oct. 31, 2020
Disclosure Text Block Supplement [Abstract]
Compensation and Employee Benefit Plans [Text Block]	Note 10. 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, with no adjustments 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, 2020, 473,830 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 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 grant date. The Company’s board of directors has determined that the grant date will be June 15 th th At October 31, 2020 and January 31, 2020, unrecognized compensation cost related to nonvested restricted stock was approximately $272,000 and $220,000, respectively. The following tables summarize non-vested restricted stock award activity for the periods presented: Nine Months Ended October 31, 2020 Weighted Weighted Average Grant Average Remaining Non-Vested Date Fair Value Vesting Term Shares (000’s) (in years) Non-Vested at January 31, 2020 28,576 $ 2,193 2 Granted 6,158 416 Forfeited - - Vested 15,029 1,211 Non-Vested at October 31, 2020 19,705 $ 1,398 2 Nine Months Ended October 31, 2019 Weighted Weighted Average Grant Average Remaining Non-Vested Date Fair Value Vesting Term Shares (000’s) (in years) Non-Vested at January 31, 2019 38,036 $ 2,935 2 Granted 9,442 662 Forfeited - - Vested 18,902 1,404 Non-Vested at October 31, 2019 28,576 $ 2,193 2 The above tables include 14,777 and 24,219 non-vested shares at October 31, 2020 and 2019, 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, 2020
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Note 11 . Income Taxes The Company determined that small changes in estimated “ordinary” income would result in significant changes in the estimated annual effective tax rate. Thus, the Company used a discrete effective tax rate method to calculate the provision or benefit for income taxes for the three and nine months ended October 31, 2020 and 2019. The Company’s income tax provision was approximately 26.8% and was a benefit of approximately 65.9% for the three months ended October 31, 2020 and 2019, respectively. The Company’s income tax benefit was approximately 112.7% and approximately 234.7% for the nine months ended October 31, 2020 and 2019, respectively. The fluctuation in the rate results primarily from the production tax credits the Company expects to receive associated with its refined coal segment relative to consolidated pre-tax income or loss. 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’s income tax provision for the third quarter of fiscal year 2020 includes approximately $1.8 million related to reversing previously recognized tax benefits associated with the lengthening of a net operating loss carryback allowed by the CARES Act as the Company no longer has a year to date estimated taxable loss. 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, 2014 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 2020 2019 Unrecognized tax benefits, beginning of period $ 7,370 $ 9,232 Changes for prior years’ tax positions (57) (77) Changes for current year tax positions - - Unrecognized tax benefits, end of period $ 7,313 $ 9,155

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Note 12. 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. As of October 31, 2020, One Earth and NuGen have combined forward purchase contracts for approximately 6.2 million bushels of corn, the principal raw material for their ethanol plants, and they have combined forward purchase contracts for approximately 1,391,000 MmBtu (Million British Thermal Units) of natural gas. As of October 31, 2020, One Earth and NuGen have combined sales commitments for approximately 37.6 million gallons of ethanol, approximately 109,000 tons of distillers grains and approximately 32.6 million pounds of non-food grade corn oil. As of October 31, 2020, 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 $0.5 million and approximately $0.9 million in the third quarter of fiscal years 2020 and 2019, respectively. Such fees totaled approximately $1.9 million and approximately $3.6 million for the nine months ended October 31, 2020 and 2019, respectively.

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Oct. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	Note 13. Related-Party Transactions During the third quarters of fiscal years 2020 and 2019, the Company purchased approximately $16.9 million and approximately $58.5 million, respectively, of corn and other supplies from minority equity investors and board members of One Earth and NuGen. Such purchases totaled approximately $34.0 million and approximately $148.7 million for the nine months ended October 31, 2020 and 2019, respectively. The Company had amounts payable to related parties of approximately $0.8 million and approximately $0.7 million at October 31, 2020 and January 31, 2020, respectively. During the third quarters of fiscal years 2020 and 2019, the Company reduced commission expense by approximately $15,000 and approximately $242,000, respectively, payable to the minority investor in the refined coal entity. During the first nine months of fiscal years 2020 and 2019, the Company reduced commission expense by approximately $160,000 and approximately $577,000, respectively. The commission expense is associated with the refined coal acquisition. The Company had accrued liabilities related to the commission expense of approximately $0.2 million and approximately $0.5 million at October 31, 2020 and January 31, 2020, respectively.

Segment Reporting

Segment Reporting	9 Months Ended
	Oct. 31, 2020
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Note 14. Segment Reporting The Company has two reportable segments: i) ethanol and by-products; and ii) refined coal. The Company evaluates the performance of each reportable segment based on segment profit. The following tables summarize segment and other results and assets (amounts in thousands): Three Months Ended Nine Months Ended October 31, October 31, 2020 2019 2020 2019 Net sales and revenue: Ethanol and by-products $ 124,217 $ 86,603 $ 246,694 $ 296,826 Refined coal 1 34 68 134 288 Total net sales and revenue $ 124,251 $ 86,671 $ 246,828 $ 297,114 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 gross profit (loss): Ethanol and by-products $ 18,929 $ 28 $ 11,259 $ 12,312 Refined coal (1,250) (1,786) (4,241) (6,420) Total gross profit (loss) $ 17,679 $ (1,758) $ 7,018 $ 5,892 Income (loss) before income taxes: Ethanol and by-products $ 17,007 $ (2,822) $ 1,397 $ 3,491 Refined coal (1,270) (1,648) (4,235) (6,351) Corporate and other (626) (434) (1,873) (1,146) Total income (loss) before income taxes $ 15,111 $ (4,904) $ (4,711) $ (4,006) (Provision) benefit for income taxes: Ethanol and by-products $ (5,071) $ 945 $ (17) $ (160) Refined coal 985 2,181 4,863 9,282 Corporate and other 34 105 461 279 Total (provision) benefit for income taxes $ (4,052) $ 3,231 $ 5,307 $ 9,401 Segment profit (loss) (net of noncontrolling interests): Ethanol and by-products $ 9,660 $ (2,330) $ 49 $ 684 Refined coal (227) 607 821 3,209 Corporate and other (592) (329) (1,412) (868) Net income (loss) attributable to REX common shareholders $ 8,841 $ (2,052) $ (542) $ 3,025 Assets: October 31, 2020 January 31, 2020 Ethanol and by-products $ 400,180 $ 408,746 Refined coal 3,605 6,101 Corporate and other 71,376 85,655 Total assets $ 475,161 $ 500,502 Three Months Ended Nine Months Ended October 31, October 31, Sales of products, ethanol and by-products segment: 2020 2019 2020 2019 Ethanol $ 98,850 $ 66,149 $ 191,971 $ 226,986 Dried distillers grains 20,916 16,627 45,314 51,188 Non-food grade corn oil 4,661 3,099 9,162 12,681 Modified distillers grains 562 702 1,228 5,846 Derivative financial instruments losses (777) - (1,075) - Other 5 26 94 125 Total $ 124,217 $ 86,603 $ 246,694 $ 296,826 Sales of products, refined coal segment: Refined coal $ 34 $ 68 $ 134 $ 288

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	9 Months Ended
	Oct. 31, 2020
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 [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. Net sales and revenue also includes net gains or losses from derivative financial instruments related to products sold. 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 Goods and Service [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, general facility overhead charges and net gains or losses from derivative financial instruments related to commodities purchased.
Selling, General and Administrative Expenses, Policy [Policy Text Block]	Selling, General and Administrative (“SG&A”) Expenses The Company includes non-production related costs such as professional fees, selling charges and certain payroll in SG&A 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 and swaps) to manage a portion of the risk associated with changes in commodity prices, primarily related to ethanol, corn and distillers grains. 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 determined that small changes in estimated “ordinary” income would result in significant changes in the estimated annual effective tax rate. Thus, the Company used a discrete effective tax rate method to calculate the provision or benefit for income taxes for the three and nine months ended October 31, 2020 and 2019. 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 $0.5 million and received refunds of income taxes of approximately $0.7 million during the nine months ended October 31, 2020. The Company paid no income taxes nor received refunds of income taxes during the nine months ended October 31, 2019. As of October 31, 2020, and January 31, 2020, total unrecognized tax benefits were approximately $7,298,000 and $7,353,000, respectively. Accrued penalties and interest were insignificant at October 31, 2020 and January 31, 2020, If the Company were to prevail on all unrecognized tax benefits recorded, the provision for income taxes would be reduced by approximately $7.3 million at October 31, 2020. 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 net realizable value on a first-in, first-out basis. Inventory includes direct production costs and certain overhead costs such as depreciation, property taxes and utilities associated with producing ethanol and related by-products. Inventory is written down for instances when cost exceeds estimated net realizable value; such write-downs are based primarily upon commodity prices as the market value of inventory is often dependent upon changes in commodity prices. There was no inventory write-down at October 31, 2020. The Company recorded approximately $1.3 million of inventory write-downs in cost of sales at January 31, 2020. Fluctuations in the write-down of inventory generally relate to the levels and composition of such inventory and changes in commodity prices at a given point in time. The components of inventory are as follows as of the dates presented (amounts in thousands): October 31, 2020 January 31, Ethanol and other finished goods $ 7,013 $ 10,864 Work in process 3,010 3,258 Grain and other raw materials 11,593 21,512 Total $ 21,616 $ 35,634
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 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.
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 In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12, “ Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

Accounting Policies (Tables)

Accounting Policies (Tables)	9 Months Ended
	Oct. 31, 2020
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, 2020 January 31, Ethanol and other finished goods $ 7,013 $ 10,864 Work in process 3,010 3,258 Grain and other raw materials 11,593 21,512 Total $ 21,616 $ 35,634

Leases (Tables)

Leases (Tables)	9 Months Ended
	Oct. 31, 2020
Disclosure Text Block [Abstract]
Lease, Cost [Table Text Block]	The components of lease expense, classified as SG&A expenses on the Consolidated Condensed Statement of Operations, are as follows: Three Months Nine Months 2020 2019 2020 2019 Operating lease expense $ 1,545 $ 1,557 $ 4,779 $ 4,867 Variable lease expense 79 139 417 491 Total lease expense $ 1,624 $ 1,696 $ 5,196 $ 5,358
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	The following table is a summary of future minimum rentals on such leases at October 31, 2020 (amounts in thousands): Years Ended January 31, Minimum Rentals Remainder of 2021 $ 1,516 2022 5,397 2023 3,690 2024 2,524 2025 1,648 Thereafter 49 Total 14,824 Less: present value discount 1,171 Operating lease liabilities $ 13,653 Years Ended January 31, Minimum Rentals 2021 $ 5,668 2022 4,958 2023 3,251 2024 2,085 2025 1,228 Thereafter 29 Total 17,219 Less: present value discount 1,596 Operating lease liabilities $ 15,623

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Oct. 31, 2020
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, 2020 are summarized below (amounts in thousands): Level 1 Level 2 Level 3 Fair Value Investment in cooperative (1) $ - $ - $ 354 $ 354 Forward purchase contracts (2) - 351 - 351 Total assets $ - $ 351 $ 354 $ 705 Commodity futures and swaps liability (3) $ - $ 378 $ - $ 378 Level 1 Level 2 Level 3 Fair Value Investment in cooperative (1) $ - $ - $ 341 $ 341 Commodity futures and swaps (2) - 352 - 352 Total assets $ - $ 352 $ 341 $ 693 Forward purchase contract liability (3) $ - $ 230 $ - $ 230 (1) The investment in cooperative is included in “Other assets” on the accompanying Consolidated Condensed Balance Sheets. (2) The forward purchase contract asset and the commodity futures and swaps asset are included in “Prepaid expenses and other current assets” on the accompanying Consolidated Condensed Balance Sheets. (3) The forward purchase contract liability and the commodity futures and swaps liability are included in “Accrued expenses and other current liabilities” on the accompanying Consolidated Condensed Balance Sheets.

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Oct. 31, 2020
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, 2020 January 31, Land and improvements $ 26,244 $ 21,957 Buildings and improvements 23,643 23,643 Machinery, equipment and fixtures 302,367 300,972 Construction in progress 746 193 353,000 346,765 Less: accumulated depreciation (198,599) (183,438) Total $ 154,401 $ 163,327

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
	Oct. 31, 2020
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, 2020 January 31, Accrued payroll and related items $ 555 $ 1,152 Accrued utility charges 1,650 2,398 Accrued transportation related items 1,560 1,500 Accrued real estate taxes 1,348 1,755 Commodity futures 378 - Forward purchase contracts - 230 Accrued income taxes 43 68 Other 515 661 Total $ 6,049 $ 7,764

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Oct. 31, 2020
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 Fair Value Fair Value October 31, 2020 January 31, 2020 October 31, 2020 January 31, 2020 Commodity futures and swaps (1) $ - $ 352 $ 378 $ - Forward purchase contracts (2) 351 - - 230 Total $ 351 $ 352 $ 378 $ 230 (1) Commodity futures and swaps assets are included in prepaid expenses and other current assets. These contracts are short/sell positions for approximately 3.7 million bushels of corn and long/buy positions for approximately 2.2 million bushels of corn at January 31, 2020. Commodity futures and swaps liabilities are included in accrued expenses and other current liabilities. These contracts are short/sell positions for approximately 4.6 million bushels of corn, long/buy positions for approximately 4.8 million bushels of corn and short/sell positions for approximately 4.2 million gallons of ethanol at October 31, 2020. (2) Forward purchase contracts assets are included in prepaid expenses and other current assets. These contracts are for purchases of approximately 5.4 million bushels of corn at October 31, 2020. Forward purchase contracts liabilities are included in accrued expenses and other current liabilities. These contracts are for purchases of approximately 1.6 million bushels of corn at January 31, 2020.

Investments (Tables)

Investments (Tables)	9 Months Ended
	Oct. 31, 2020
Disclosure Text Block Supplement [Abstract]
Equity Method Investments [Table Text Block]	The following table summarizes the Company’s equity method investment at October 31, 2020 and January 31, 2020 (dollars in thousands): Ownership Carrying Amount Entity Percentage October 31, 2020 January 31, 2020 Big River 10.3% $30,126 $32,464
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 2020 2019 2020 2019 Net sales and revenue $ 209,397 $ 220,387 $ 537,155 $ 598,187 Gross profit $ 15,419 $ 10,269 $ 13,041 $ 18,864 Income (loss) from continuing operations $ 11,167 $ (149) $ 1,627 $ 3,397 Net income (loss) $ 11,167 $ (149) $ 1,627 $ 3,397

Employee Benefits (Tables)

Employee Benefits (Tables)	9 Months Ended
	Oct. 31, 2020
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 periods presented: Nine Months Ended October 31, 2020 Weighted Weighted Average Grant Average Remaining Non-Vested Date Fair Value Vesting Term Shares (000’s) (in years) Non-Vested at January 31, 2020 28,576 $ 2,193 2 Granted 6,158 416 Forfeited - - Vested 15,029 1,211 Non-Vested at October 31, 2020 19,705 $ 1,398 2 Nine Months Ended October 31, 2019 Weighted Weighted Average Grant Average Remaining Non-Vested Date Fair Value Vesting Term Shares (000’s) (in years) Non-Vested at January 31, 2019 38,036 $ 2,935 2 Granted 9,442 662 Forfeited - - Vested 18,902 1,404 Non-Vested at October 31, 2019 28,576 $ 2,193 2

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Oct. 31, 2020
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 2020 2019 Unrecognized tax benefits, beginning of period $ 7,370 $ 9,232 Changes for prior years’ tax positions (57) (77) Changes for current year tax positions - - Unrecognized tax benefits, end of period $ 7,313 $ 9,155

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Oct. 31, 2020
Segment Reporting (Tables) [Line Items]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	The following tables summarize segment and other results and assets (amounts in thousands): Three Months Ended Nine Months Ended October 31, October 31, 2020 2019 2020 2019 Net sales and revenue: Ethanol and by-products $ 124,217 $ 86,603 $ 246,694 $ 296,826 Refined coal 1 34 68 134 288 Total net sales and revenue $ 124,251 $ 86,671 $ 246,828 $ 297,114 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 gross profit (loss): Ethanol and by-products $ 18,929 $ 28 $ 11,259 $ 12,312 Refined coal (1,250) (1,786) (4,241) (6,420) Total gross profit (loss) $ 17,679 $ (1,758) $ 7,018 $ 5,892 Income (loss) before income taxes: Ethanol and by-products $ 17,007 $ (2,822) $ 1,397 $ 3,491 Refined coal (1,270) (1,648) (4,235) (6,351) Corporate and other (626) (434) (1,873) (1,146) Total income (loss) before income taxes $ 15,111 $ (4,904) $ (4,711) $ (4,006) (Provision) benefit for income taxes: Ethanol and by-products $ (5,071) $ 945 $ (17) $ (160) Refined coal 985 2,181 4,863 9,282 Corporate and other 34 105 461 279 Total (provision) benefit for income taxes $ (4,052) $ 3,231 $ 5,307 $ 9,401 Segment profit (loss) (net of noncontrolling interests): Ethanol and by-products $ 9,660 $ (2,330) $ 49 $ 684 Refined coal (227) 607 821 3,209 Corporate and other (592) (329) (1,412) (868) Net income (loss) attributable to REX common shareholders $ 8,841 $ (2,052) $ (542) $ 3,025 Three Months Ended Nine Months Ended October 31, October 31, Sales of products, ethanol and by-products segment: 2020 2019 2020 2019 Ethanol $ 98,850 $ 66,149 $ 191,971 $ 226,986 Dried distillers grains 20,916 16,627 45,314 51,188 Non-food grade corn oil 4,661 3,099 9,162 12,681 Modified distillers grains 562 702 1,228 5,846 Derivative financial instruments losses (777) - (1,075) - Other 5 26 94 125 Total $ 124,217 $ 86,603 $ 246,694 $ 296,826 Sales of products, refined coal segment: Refined coal $ 34 $ 68 $ 134 $ 288
Assets [Member]
Segment Reporting (Tables) [Line Items]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Assets: October 31, 2020 January 31, 2020 Ethanol and by-products $ 400,180 $ 408,746 Refined coal 3,605 6,101 Corporate and other 71,376 85,655 Total assets $ 475,161 $ 500,502

Consolidated Condensed Financ_2

Consolidated Condensed Financial Statements (Details)	9 Months Ended
	Oct. 31, 2020
Consolidated Condensed Financial Statements (Details) [Line Items]
Number of Consolidated Subsidiaries	4
Number of Reportable Segments	2
Ethanol [Member]
Consolidated Condensed Financial Statements (Details) [Line Items]
Number of Operating Segments	3
Majority-Owned Subsidiary, Unconsolidated [Member] | Ethanol [Member]
Consolidated Condensed Financial Statements (Details) [Line Items]
Number of Operating Segments	2
Majority-Owned Subsidiary, Unconsolidated [Member] | Refined Coal [Member]
Consolidated Condensed Financial Statements (Details) [Line Items]
Number of Operating Segments	1

Accounting Policies (Details)

Accounting Policies (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Oct. 31, 2020	Jan. 31, 2020
Accounting Policies (Details) [Line Items]
Income Taxes Paid	$ 500
Proceeds from Income Tax Refunds	700
Unrecognized Tax Benefits	7,298	$ 7,353
Inventory Write-down		$ 1,300
Provision for Income Taxes [Member]
Accounting Policies (Details) [Line Items]
Unrecognized Tax Benefits	$ (7,300)
Cost of Sales [Member]
Accounting Policies (Details) [Line Items]
Maximum Percentage of Equity Ownership Interest Which May be Considered for Equity Method of Accounting	20.00%
Building and Building Improvements [Member] | Minimum [Member]
Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	5
Building and Building Improvements [Member] | Maximum [Member]
Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	40 years
Fixtures And Equipment [Member] | Minimum [Member]
Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	2
Fixtures And Equipment [Member] | Maximum [Member]
Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	20 years

Accounting Policies (Details) -

Accounting Policies (Details) - Schedule of Components of Inventory - USD ($) $ in Thousands	Oct. 31, 2020	Jan. 31, 2020
Schedule of Components of Inventory [Abstract]
Ethanol and other finished goods	$ 7,013	$ 10,864
Work in process	3,010	3,258
Grain and other raw materials	11,593	21,512
Total	$ 21,616	$ 35,634

Leases (Details)

Leases (Details)	Oct. 31, 2020	Jan. 31, 2020
Disclosure Text Block [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	3 years 1 month 6 days	3 years 6 months
Operating Lease, Weighted Average Discount Rate, Percent	5.27%	5.46%

Leases (Details) - Schedule of

Leases (Details) - Schedule of Components of Lease Expense - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019
Schedule of Components of Lease Expense [Abstract]
Operating lease expense	$ 1,545	$ 1,557	$ 4,779	$ 4,867
Variable lease expense	79	139	417	491
Total lease expense	$ 1,624	$ 1,696	$ 5,196	$ 5,358

Leases (Details) - Schedule o_2

Leases (Details) - Schedule of Future Minimum Rental Payments for Operating Leases - USD ($) $ in Thousands	Oct. 31, 2020	Jan. 31, 2020
Schedule of Future Minimum Rental Payments for Operating Leases [Abstract]
2021	$ 1,516	$ 5,668
2022	5,397	4,958
2023	3,690	3,251
2024	2,524	2,085
2025	1,648	1,228
Thereafter	49	29
Total	14,824	17,219
Less: present value discount	1,171	1,596
Operating lease liabilities	$ 13,653	$ 15,623

Fair Value (Details)

Fair Value (Details) - USD ($)	3 Months Ended	9 Months Ended
	Apr. 30, 2019	Oct. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value, Assets, Measured On Nonrecurring Basis Change In Unrealized Gain (Loss)	$ 0	$ 0

Fair Value (Details) - Schedule

Fair Value (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis - USD ($) $ in Thousands		Oct. 31, 2020		Jan. 31, 2020
Fair Value (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Forward purchase contracts				$ (230)
Commodity futures and swaps		$ (378)
Derivative Financial Instruments, Liabilities [Member]
Fair Value (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Forward purchase contracts	[1]	351
Total assets		705
Forward purchase contract liability	[2]			230
Fair Value, Inputs, Level 1 [Member] | Derivative Financial Instruments, Liabilities [Member]
Fair Value (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Forward purchase contracts	[1]
Forward purchase contract liability	[2]
Fair Value, Inputs, Level 2 [Member] | Derivative Financial Instruments, Liabilities [Member]
Fair Value (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Forward purchase contracts	[1]	351
Total assets		351
Forward purchase contract liability	[2]			230
Fair Value, Inputs, Level 3 [Member] | Derivative Financial Instruments, Liabilities [Member]
Fair Value (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Forward purchase contracts	[1]
Total assets		354
Forward purchase contract liability	[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	[3]	354		341
Total assets				693
Commodity futures and swaps		378	[2]	352	[1]
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	[3]
Commodity futures and swaps			[2]		[1]
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	[3]
Total assets				352
Commodity futures and swaps		378	[2]	352	[1]
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	[3]	354		341
Total assets				341
Commodity futures and swaps			[2]		[1]
[1]	The forward purchase contract asset and the commodity futures and swaps asset are included in “Prepaid expenses and other current assets” on the accompanying Consolidated Condensed Balance Sheets.
[2]	The forward purchase contract liability and the commodity futures and swaps liability are 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.

Property and Equipment (Details

Property and Equipment (Details) - Schedule of Property and Equipment - USD ($) $ in Thousands	Oct. 31, 2020	Jan. 31, 2020
Schedule of Property and Equipment [Abstract]
Land and improvements	$ 26,244	$ 21,957
Buildings and improvements	23,643	23,643
Machinery, equipment and fixtures	302,367	300,972
Construction in progress	746	193
	353,000	346,765
Less: accumulated depreciation	(198,599)	(183,438)
Total	$ 154,401	$ 163,327

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, 2020	Jan. 31, 2020
Schedule of Accrued Expenses and Other Current Liabilities [Abstract]
Accrued payroll and related items	$ 555	$ 1,152
Accrued utility charges	1,650	2,398
Accrued transportation related items	1,560	1,500
Accrued real estate taxes	1,348	1,755
Commodity futures	378
Forward purchase contracts		230
Accrued income taxes	43	68
Other	515	661
Total	$ 6,049	$ 7,764

Derivative Financial Instrume_3

Derivative Financial Instruments (Details) $ in Thousands, gal in Millions, bu in Millions	3 Months Ended		9 Months Ended
	Oct. 31, 2020USD ($)bugal	Oct. 31, 2019USD ($)	Oct. 31, 2020USD ($)bugal	Oct. 31, 2019USD ($)	Jan. 31, 2020USD ($)bu
Derivative Financial Instruments (Details) [Line Items]
Debt Instrument, Collateral Amount | $	$ 884		$ 884		$ 1,113
Gain (Loss) on Derivative Instruments, Net, Pretax | $	(26)	$ 248	(1,785)	$ 1,478
Gain (Loss) on Derivative Instruments, Net, Sales and Revenue | $	$ 777		$ 1,076
Assets [Member] | Corn [Member]
Derivative Financial Instruments (Details) [Line Items]
Forward Purchase Contracts, Quantity (in US Bushels)	5.4		5.4
Liability [Member] | Corn [Member]
Derivative Financial Instruments (Details) [Line Items]
Forward Purchase Contracts, Quantity (in US Bushels)					1.6
Short/Sell [Member] | Assets [Member] | Corn [Member]
Derivative Financial Instruments (Details) [Line Items]
Commodity Futures, Quantity	4.6		4.6		3.7
Short/Sell [Member] | Assets [Member] | Ethanol [Member]
Derivative Financial Instruments (Details) [Line Items]
Commodity Futures, Quantity | gal	4.2		4.2
Long/Buy | Assets [Member] | Corn [Member]
Derivative Financial Instruments (Details) [Line Items]
Commodity Futures, Quantity	4.8		4.8		2.2

Derivative Financial Instrume_4

Derivative Financial Instruments (Details) - Schedule of Fair Values for Derivative Financial Instruments - USD ($) $ in Thousands		Oct. 31, 2020	Jan. 31, 2020
Derivative Financial Instruments (Details) - Schedule of Fair Values for Derivative Financial Instruments [Line Items]
Asset Derivatives, Fair Value		$ 351	$ 352
Liability Derivatives, Fair Value		378	230
Commodity Contract [Member]
Derivative Financial Instruments (Details) - Schedule of Fair Values for Derivative Financial Instruments [Line Items]
Asset Derivatives, Fair Value	[1]		352
Liability Derivatives, Fair Value	[1]	378
Forward Contracts [Member]
Derivative Financial Instruments (Details) - Schedule of Fair Values for Derivative Financial Instruments [Line Items]
Asset Derivatives, Fair Value	[2]	351
Liability Derivatives, Fair Value	[2]		$ 230
[1]	Commodity futures and swaps assets are included in prepaid expenses and other current assets. These contracts are short/sell positions for approximately 3.7 million bushels of corn and long/buy positions for approximately 2.2 million bushels of corn at January 31, 2020. Commodity futures and swaps liabilities are included in accrued expenses and other current liabilities. These contracts are short/sell positions for approximately 4.6 million bushels of corn, long/buy positions for approximately 4.8 million bushels of corn and short/sell positions for approximately 4.2 million gallons of ethanol at October 31, 2020.
[2]	Forward purchase contracts assets are included in prepaid expenses and other current assets. These contracts are for purchases of approximately 5.4 million bushels of corn at October 31, 2020. Forward purchase contracts liabilities are included in accrued expenses and other current liabilities. These contracts are for purchases of approximately 1.6 million bushels of corn at January 31, 2020.

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Jan. 31, 2020
Disclosure Text Block Supplement [Abstract]
Retained Earnings, Undistributed Earnings from Equity Method Investees	$ 10,100		$ 12,400
Proceeds from Equity Method Investment, Distribution	2,506	$ 1,003
Short-term Investments	$ 29,216		$ 26,073
Debt Securities, Held-to-Maturity, Weighted Average Yield, Maturity, Year One	0.20%		1.80%

Investments (Details) - Schedul

Investments (Details) - Schedule of Equity Method Investments - USD ($) $ in Thousands	Oct. 31, 2020	Jan. 31, 2020
Schedule of Equity Method Investments [Abstract]
Big River	10.30%
Big River	$ 30,126	$ 32,464

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, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019
Investments (Details) - Schedule of Financial Information For Equity Method Investment [Line Items]
Net sales and revenue	$ 209,397	$ 220,387	$ 537,155	$ 598,187
Gross profit	15,419	10,269	13,041	18,864
Income (loss) from continuing operations	11,167	(149)	1,627	3,397
Net income (loss)	$ 11,167	$ (149)	$ 1,627	$ 3,397

Employee Benefits (Details)

Employee Benefits (Details) - USD ($) $ in Thousands	Oct. 31, 2020	Jan. 31, 2020	Oct. 31, 2019	Jan. 31, 2019
Employee Benefits (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	19,705,000	28,576,000	28,576,000	38,036,000
Rex Shareholders [Member]
Employee Benefits (Details) [Line Items]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount (in Dollars)	$ 272	$ 220
Share-based Payment Arrangement, Option [Member] | Rex Shareholders [Member]
Employee Benefits (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	14,777		24,219
Stock Option Plans 2015 [Member] | Share-based Payment Arrangement, 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	473,830

Employee Benefits (Details) - S

Employee Benefits (Details) - Schedule of Non-Vested Restricted Stock Award Activity - USD ($) shares in Thousands, $ / shares in Thousands, $ in Thousands	9 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Schedule of Non-Vested Restricted Stock Award Activity [Abstract]
Non-Vested Shares, Beginning of Period	28,576	38,036
Weighted Average Grant Date Fair Value, Beginning of Period (in Dollars)	$ 2,193	$ 2,935
Weighted Average Vesting Term, Beginning of Period	2 years	2 years
Non-Vested Shares, Granted	6,158	9,442
Weighted Average Grant Date Fair Value, Granted (in Dollars per share)	$ 416	$ 662
Non-Vested Shares, Vested	15,029	18,902
Weighted Average Grant Date Fair Value, Vested (in Dollars)	$ 1,211	$ 1,404
Non-Vested Shares, End of Period	19,705	28,576
Weighted Average Grant Date Fair Value, End of Period (in Dollars)	$ 1,398	$ 2,193
Weighted Average Vesting Term, End of Period	2 years	2 years

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019
Income Taxes (Details) [Line Items]
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Depreciation, Percent	26.80%	65.90%	112.70%	234.70%
CARES Act Net Operating Loss Carryback [Member]
Income Taxes (Details) [Line Items]
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability (in Dollars)			$ (1.8)

Income Taxes (Details) - Schedu

Income Taxes (Details) - Schedule of Unrecognized Tax Benefits Roll Forward - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Schedule of Unrecognized Tax Benefits Roll Forward [Abstract]
Unrecognized tax benefits, beginning of period	$ 7,370	$ 9,232
Changes for prior years’ tax positions	(57)	(77)
Unrecognized tax benefits, end of period	$ 7,313	$ 9,155

Commitments and Contingencies (

Commitments and Contingencies (Details) lb in Millions, gal in Millions, bu in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Oct. 31, 2020USD ($)MMBTUTlbbugal	Oct. 31, 2019USD ($)	Oct. 31, 2020USD ($)MMBTUTlbbugal	Oct. 31, 2019USD ($)
One Earth Energy And Nu Gen Energy [Member]
Commitments and Contingencies (Details) [Line Items]
Quantity of Bushels under Forward Purchase Contract (in US Bushels) | bu	6.2		6.2
Quantity Of Natural Gas Under Sales Commitment (in Millions of British Thermal Units) | MMBTU	1,391,000		1,391,000
Quantity of Ethanol under Sales Commitment (in US Gallons) | gal	37.6		37.6
Quantity of Distillers Grains Under Sales Commitment (in US Tons) | T	109,000		109,000
Quantity of Non-food Grade Corn Oil Under Sales Commitments (in Pounds) | lb	32.6		32.6
Refined Coal [Member]
Commitments and Contingencies (Details) [Line Items]
Fees Incurred By Subsidiary | $	$ 0.5	$ 0.9	$ 1.9	$ 3.6

Related-Party Transactions (Det

Related-Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019	Jan. 31, 2020
Related-Party Transactions (Details) [Line Items]
Accounts Payable, Related Parties, Current	$ 777		$ 777		$ 686
One Earth Energy And Nu Gen Energy [Member]
Related-Party Transactions (Details) [Line Items]
Costs and Expenses, Related Party	16,900	$ 58,500	34,000	$ 148,700
Accounts Payable, Related Parties, Current	800		800		700
Refined Coal [Member]
Related-Party Transactions (Details) [Line Items]
Payments for Commissions	15,000,000	$ 242,000,000	160,000,000	$ 577,000,000
Accrued Liabilities for Commissions, Expense and Taxes	$ 200		$ 200		$ 500

Segment Reporting (Details)

Segment Reporting (Details)	9 Months Ended
	Oct. 31, 2020
Segment Reporting [Abstract]
Number of Reportable Segments	2

Segment Reporting (Details) - S

Segment Reporting (Details) - Schedule Of Segment Results And Assets - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Oct. 31, 2020		Oct. 31, 2019		Oct. 31, 2020	Oct. 31, 2019
Segment Reporting Information [Line Items]
Net sales and revenue:	$ 124,251		$ 86,671		$ 246,828	$ 297,114
Segment gross (loss) profit:	17,679		(1,758)		7,018	5,892
(Loss) income before income taxes:	15,111		(4,904)		(4,711)	(4,006)
Benefit (provision) for income taxes:	(4,052)		3,231		5,307	9,401
Segment (loss) profit (net of noncontrolling interests):	8,841		(2,052)		(542)	3,025
Sales of products, ethanol and by-products segment:	124,217		86,603		246,694	296,826
Ethanol [Member]
Segment Reporting Information [Line Items]
Net sales and revenue:	124,217		86,603		246,694	296,826
Segment gross (loss) profit:	18,929		28		11,259	12,312
(Loss) income before income taxes:	17,007		(2,822)		1,397	3,491
Benefit (provision) for income taxes:	(5,071)		945		(17)	(160)
Segment (loss) profit (net of noncontrolling interests):	9,660		(2,330)		49	684
Sales of products, ethanol and by-products segment:	98,850		66,149		191,971	226,986
Refined Coal [Member]
Segment Reporting Information [Line Items]
Net sales and revenue:	34	[1]	68	[1]	134	288
Segment gross (loss) profit:	(1,250)		(1,786)		(4,241)	(6,420)
(Loss) income before income taxes:	(1,270)		(1,648)		(4,235)	(6,351)
Benefit (provision) for income taxes:	985		2,181		4,863	9,282
Segment (loss) profit (net of noncontrolling interests):	(227)		607		821	3,209
Sales of products, ethanol and by-products segment:	34		68		134	288
Corporate and Other [Member]
Segment Reporting Information [Line Items]
(Loss) income before income taxes:	(626)		(434)		(1,873)	(1,146)
Benefit (provision) for income taxes:	34		105		461	279
Segment (loss) profit (net of noncontrolling interests):	(592)		(329)		(1,412)	(868)
Dried Distillers Grains [Member]
Segment Reporting Information [Line Items]
Sales of products, ethanol and by-products segment:	20,916		16,627		45,314	51,188
Non-Food Grade Corn Oil [Member]
Segment Reporting Information [Line Items]
Sales of products, ethanol and by-products segment:	4,661		3,099		9,162	12,681
Modified Distillers Grains [Member]
Segment Reporting Information [Line Items]
Sales of products, ethanol and by-products segment:	562		702		1,228	5,846
Derivative Financial Instruments, Assets [Member]
Segment Reporting Information [Line Items]
Sales of products, ethanol and by-products segment:	(777)				(1,075)
Other Segments [Member]
Segment Reporting Information [Line Items]
Sales of products, ethanol and by-products segment:	$ 5		$ 26		$ 94	$ 125
[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, 2020	Jan. 31, 2020
Segment Reporting Information [Line Items]
Assets	$ 475,161	$ 500,502
Ethanol [Member]
Segment Reporting Information [Line Items]
Assets	400,180	408,746
Refined Coal [Member]
Segment Reporting Information [Line Items]
Assets	3,605	6,101
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Assets	$ 71,376	$ 85,655