UC-437
Grain Contract & Basis Position Book
Reads forward contracts, scale tickets and basis quotes, works out uncommitted tonnage and basis exposure, and issues a daily position book.
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The Challenge
Tonnage is sold twice or left unpriced into a falling basis because the position lives in one spreadsheet. It persists because contracts, scale tickets and hedge records are never reconciled daily.
How It Works
- Reads forward and deferred-price contracts, scale tickets, hedge records and basis quotes.
- Nets delivered against contracted tonnage per commodity and month and prices basis exposure.
- Issues a daily position book and flags unpriced tonnage before the delivery window closes.
What It Removes
- Rebuilding the position spreadsheet each morning
- Phoning elevators for the day's basis quotes
- Manual matching of scale tickets to contracts
Input Data RequirementsForward and deferred-price contracts, scale and delivery tickets, elevator basis quotes, hedge records, storage positions, crop estimates
Output FormatDaily position book by commodity and delivery month, an unpriced tonnage alert list, and a basis exposure summary for the grain desk
“We found out we were oversold on the March position when the elevator rang us, not before”