LAYOUT OF HEDGE POSITION REPORT

Hedge Position Reports are used to track your Cash & Basis Position. When running a Hedge Position Report it is reporting on “a moment in time” on what the position is right then. As users are doing transactions, the Hedge Position is constantly changing & updating with every transaction done. We do have the ability now to be able to run the Hedge Position for a prior day, but it is only going to give you the “end of day” balance for that prior day. We do not have the ability to run a Hedge Position Report for a specific time of day, like you can with Inventory Reports.

To run a Hedge Position Report go to GRN > Commodity Positions > Hedge Position Reports or, go to GRN > Report Manager > Hedge Position Reports. Standard Report #1 Hedge Position Report is the best option when just starting to work with Hedge Positions. After you become more familiar there are other options you can use to see your info in different formats.

Here is an example of the Standard Hedge Position Report:

Open

How to read/understand the Hedge Position:

1. The first section is the balance of your Stocks on Hand & a breakdown of your Liabilities by Liability Type, Inbound Hold, Grain Bank, Open Storage, & Warehouse Receipts. These numbers are used in the calculation to get to your Company Owned Paid amount. Company Owned Paid is the difference between Stocks, less the Liabilities listed above, less Unpaid Grain, plus any Company Warehouse Receipts.

2. The next section explains 0) Company Owned Inventory & 1) Adjusted Inventory. These are calculated balances & are the same values you will see in Inventory Position Reports (DPR).

   1. Company Owned Paid – Grain that you own & have already paid for. Calculation given in A above.

   2. + Company Owned Unpaid – Inbound grain that has been applied to any contract type, and grain applied to little dp (delayed price), all of which has not had Final Settlements done yet, either Priced & Unpriced.

   3. + Inbound In-Transit – Inbound tickets that have been entered with Ticket Status of I. Inbound In-Transit tickets are entered to inform that grain has been loaded at an origin & is headed to your facility but has not yet arrived. The ticket are applied to a Contract, but do not update Stock on Hand yet, as it has not physically unloaded.

   4. – In-Transit on Hold – Same type of tickets as noted in c. but these tickets have not been applied to a Contract, they are sitting on Hold.

   5. + Outbound In-Transit – Outbound tickets that are on Hold, they have not yet been applied to a contract. They can have any Ticket Status. You can not change the Ticket Status of Intransit until the ticket is applied. Doing the application should change the status on it’s own.

   6. + Terminal Storage – Outbound tickets where you have selected the Ticket Type of S (Terminal Storage). This can only be used on Outbound Tickets, it’s used when you are loading out grain & storing it at a 3^rd party facility. The intent is that you will eventually sell the grain to the 3^rd party it is shipped to. The Outbound Ticket will remain on Hold until further action is taken.

   7. Non Bulk Inventory – This will only occur if you use the INV package & you Integrate Inventory Management System to Include Commodity Inventory Items on you Position Report.

   8. Company Owned Available – The sum of Company Owed Paid through Non Bulk Inventory (a – g)

   9. + Company Warehouse Receipts – Company Warehouse Receipts can be positive or negative. They are used to move storage obligations around between locations within a company. They can also be used to represent collateral from a bank.

   10. 0) Company Owned Inventory – This is a calculation of a – I, Company Owned Paid – Company Warehouse Receipts. It’s info you will also find on you Inventory Position (DPR).

   11. – Delayed Price – Inbound grain that has been applied to “little” dp. Not applied on a DP Contract.

   12. – Over Applied Contracts – Contract that have been Over Applied. It will take settling the contract or Pricing the contract for this to clear out.

   13. + Under Applied Contracts – Contract marked at application time as wanting them to be Under Applied. Even though marked at application time, a Contract Cancel is still needed to get these contracts Underfilled.

   14. 1) Adjusted Inventory – The sum of Company Owned Inventory (j) less dp (k) less Over Applied Contracts (l) plus, Under Applied Contracts (m). This is the end of the Inventory section of the position.

3. The next section deals with Contracts. The Contracts are grouped together by common Contract Types. Each Contract Type can affect the Position differently based on whether the Contract is Priced or Unpriced. This status also determines if the Cash Position is affected or the Basis Position is affected. The basic difference between the Cash & Basis Position is, the Cash Position are items that can be hedged to where Futures Contracts are bot or sold. Basis Positions are Unpriced items and will probably not have Futures Hedges done. The information in the Contract section comes from the Contrac2.GRN file & it gives the Status of the Contract at the moment the report is run. These balances are constantly changing as transactions are being done. The info on a Hedge Position is only completely accurate for the moment the report was ran.

   1. 2) Applied Basis – Bushels applied to Unpriced Contracts where only the Basis Price has been established.

   2. 3) Applied Futures Only – Bushels applied to Unpriced Contracts where only the Futures Price has been established.

   3. 4) Applied D. P. Contracts – Bushels applied to Unpriced Contracts where none of the Pricing Components have been established. What is often referred to as Big DP.

   4. 5) – 9) These sections are the open, unapplied balances of the contracts. The system refers to them as Remaining Quantity. The 1^st column is the total amount remaining, then each column to the right breaks out the remaining quantity by Delivery or Due Month. The Standard Hedge Report uses Due Month, but in a User Defined report it can be changed to reflect Contract balances by Delivery Month if desired. The Nearby column will have all past due contracts along with the current month. On a printed report there is limited space to allow showing very many months forward, so the last column will be listed as Later & that will be all forward months that won’t fit on the page. A User Defined report can be created to expand the Later column to show the actual months, but it would not be a report to print, it would be best to print to the screen & just view it on screen.