Company: REX
Filing Date: 2025-06-04
Form Type: 10-Q
Source: 0000930413-25-001941
Chunk: 16

Company: REX AMERICAN RESOURCES Corp
Filing Date: 2025-06-04
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 and distillers corn oil) contracts. The Company does not purchase
or sell derivative financial instruments for trading or speculative purposes. The Company does not purchase or sell derivative
financial instruments for which a lack of marketplace quotations would require the use of fair value estimation techniques. The
changes in fair value of these derivative financial instruments are recognized in current period earnings as the Company does not
use hedge accounting.

The following table provides information
about the fair values of the Company’s derivative financial instruments (that are not accounted for under the “normal
purchases and normal sales” scope exemption of ASC 815) and the line items on the Consolidated Balance Sheets in which the
fair values are reflected (in thousands):

    Asset Derivatives Fair Value  
    Liability Derivatives Fair Value 

    April
    30,  2025  
    January 31,  2025  
    April
    30,  2025  
    January 31,  2025 

    Forward purchase contracts (1) 
    $840  
    $1,253  
    $1,105  
    $378 

    Cash collateral balance (3) 
    $534  
    $2,523  
    $-  
    $- 

    Commodity futures (2) 
     669  
     (1,291)  
     -  
     - 

       Net position with broker 
    $1,203  
    $1,232  
    $-  
    $- 

    Total 
    $2,043  
    $2,485  
    $1,105  
    $378 

(1)Forward purchase contracts assets are included in “Prepaid expenses and other” on the accompanying Consolidated
Balance Sheets. These contracts are for purchases of approximately 8.1 million and 16.8 million bushels of corn at April 30, 2025
and January 31, 2025, respectively.

Forward purchase contracts liabilities are included
in “Accrued expenses and other current liabilities” on the accompanying Consolidated Balance Sheets. These contracts
are for purchases of approximately 9.5 million and 7.6 million bushels of corn at April 30, 2025 and January 31, 2025, respectively.

(2)Commodity futures assets and liabilities are included