Pricing a Contract

Overview

Use this job aid to price a contract. The Price Contracts function is used to price any portion of a not yet priced contract, or to change the price on any portion of a priced contract. If you enter an amount in the Scheduled box that is different than the scheduled amount, a new contract schedule is created for this amount.

To price a contract:

1. From the Toolbar, click GRN for Commodity Management.

2. From the Commodity menu, select Contracts, and then select Price Contracts.

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3. In the Location Code box, click Lookup or type * and press Enter, and then select the accounting location, or type the accounting location .

4. In the Purchases/Sales box, type P for purchases or type S for Sales.

5. In the Contract Number box, click Lookup or type * and press Enter, and then select the contract number, or type the contract number.

6. Click OK.

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7. Select this contract #? Click Yes.

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8. Select the contract.

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9. In the Scheduled box, type the amount to be priced.

10. In the Applied box, type the amount to be applied.

11. Click OK.

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12. In the Delivery Date box, type the beginning date for this contract to be delivered. The current position date displays, and can be changed as necessary.

13. In the Due Date box, type the ending date for this contract to be delivered. The current position date displays, and can be changed as necessary.

14. Click OK.

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15. In hte Salesperson, Weight Base and Grade Base box, use the lookup button to make any changes. Click OK.

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16. In the Price Status box, type P for Priced, U for Unpriced or, X for Settled.

17. In the Pricing Date box, the current position date displays, type the date this pricing is effective.

18. In the Board Name box, type the abbreviation name of the board from the Commodity Tables, for example Chicago Board of Trade (CBOT).

19. In the Futures Month box, type the valid board month appropriate for this contract. Valid futures months are defined under Commodity Tables.

20. In the Price box, type the price per unit of measure (bushel) this price is the "scheduled price" on this pricing, or leave blank to calculate.

21. In the Futures and Basis Amount boxes, type the future price and basis price, or leave blank to calculate.

22. Click OK.

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Learn more about Contracts feature: