Progress bar
% Marketed
The percentage of total production that is either sold or hedged.
Sold: bushels committed for physical delivery to a buyer with or without a final price set.
Hedged: bushels with limited market price risk through the use of risk management products (certain futures and options contracts).
% Unprotected
The percentage of total production without any price protection. The value of this position will go up and down with the market.
Marketed
This section shows the average profit to date for your marketed crop (all sold and hedged grain).
The average per bushel cash price is on the far left, followed by your projected total profit and per/ac profit values. If you have open brokerage positions, this value is subject to fluctuate with the market. To calculate your marketed grain profit we include:
- all sold crop
- the mark-to-market price of any open positions in the financial market
- gain or loss from all closed positions in the markets
- the current market price for any hedged grain
Your marketed value found in this section is equivalent to the profit you would make if you were to close all financial positions and sell the equivalent physical grain at the current cash price*. The total profit and per acre profit calculations take your cost of production into consideration, so the value listed is profit above your cost of production.
*Current Cash Price
This number is the current value of the harvest contract month for the commodity (Dec for corn, Nov for soybeans, etc) subtracting the estimated basis that you entered into the Crop Details. Once the harvest contract month arrives, we use the current value.
Unprotected
This section shows the current potential value of your unmarketed crop above your cost of production.
Using the current market value we calculate your potential average per bushel and total value, as well as your potential per acre profit. The potential profit factors in your cost of production. The numbers represent the potential value of your unprotected grain if you were to sell or contract all of it at the current cash price (current cash price = current futures price - estimated basis).
Mark-to-market
We take the current market price of all futures and options and use it to calculate the value of these positions. This is subject to change with market fluctuations. For options, we calculate the difference between the opening premium and what the option is trading at today. It is NOT calculated as the difference between the strike and the futures for that position.
Note: Marketing is included in the Bushel Farm Business plan. Learn more about our plans and pricing here.
Comments