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10-Q/A - FOR QUARTERLY PERIOD ENDED JUNE 30, 2011 - NEDAK ETHANOL, LLCform10qa_091411.htm
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v2.3.0.11
Derivative Financial Instruments
6 Months Ended
Jun. 30, 2011
Derivative Financial Instruments  
Derivative Financial Instruments

 

4.  DERIVATIVE FINANCIAL INSTRUMENTS

 

The Company periodically hedges a portion of its future corn and natural gas purchases for minimizing risk from market price fluctuations.  Derivative financial instruments recorded on the balance sheet represent the current fair value of the instruments.

 

As of June 30, 2011 and December 31, 2010, the Company had no open derivative positions.

 

The following table provides details regarding the gains from the Company's derivative financial instruments in the statements of operations, none of which are designated as hedging instruments:

 

 

 

Derivatives not

 

Location of Gain

 

Amount of Gain

 

 

Designated as Hedging

 

Recognized in

 

Recognized in

 

 

Instruments

 

Income

 

Income

Six months ended June 30, 2011

 

Three months ended June 30, 2011

 

Commodity contracts

 

Commodity contracts

 

Cost of goods sold

 

Cost of goods sold

$

-

 

-

 

Six months ended June 30, 2010

 

Three months ended June 30, 2010

 

 

Commodity contracts

 

Commodity contracts

 

 

 

 

Cost of goods sold

 

Cost of goods sold

 

 

707,266

 

18,304