Pricing a Contract

If only part of the contract is to be priced the quantity must first be split.

To do this enter the amount to be split in the Quantity field select the units under Quantity Type and click the Button.

To unsplit a line use the Button. this will merge the highlighted line with the one above it.

Line 1 has been priced; line 2 is available to be priced.

Which ever line is highlighed in blue will be the line that you are pricing. Most contracts will only have 1 line, so you will be on the correct line.

Choose if you plan to price in bushels or tonnes/tons. This will change the way the program does the behind the scenes.

The price goes in this box.

Pricing by bushel the cbot price is what is entered. The program will add the basis to this number and end up with a price/bu and converts that to a price/T.

Pricing by Tonne/Ton The final price/t is entered, the value will be converted to a price/bu then the basis will be remove to determine the cbot.

The date the contract was priced is chosen from the pop up widget.

The Basis will be already here from creating the contract, but the basis can be changed if desired.

If there is a premium or a trucking charge you would like to appear on any tickets put against this contract, enter them here, they will automatically be in Bushels or Tonnes/Tons depending on the radio button chosen in 2.

All the details are now complete, press the button save the pricing.

If there are any tickets that have been put against the contract before it was priced and now need to be priced, press the “price tickets” button and all tickets connected to that pricing line will be priced automatically.

The above example shows 5,000 bushels being priced. Because is is being priced in bushels, the cbot price is $5. The basis of $-0.8 is added to create a bushel price of $4.20. That is then converted to a price/t and displayed in line 1.