Managing Futures gives you the ability to specify Month/Year Futures combinations per hedgeable Commodity. These Futures Month/Year values are then used on purchase and sales transactions.
What you'll find:
To add new futures:
* indicates a required field (other fields are optional)
Navigate to Grain > Manage > Futures Month/Year.
The Manage Grain Futures Month/Year window opens.
Select a Commodity and a Year from the dropdown lists and click Retrieve.
Only hedgeable commodities are listed. Years include past years with data, this year, and next 2 years.
Any existing Futures will be displayed.
If no rows are retrieved, select Copy to duplicate the prior year's values.
Select a Month and type a Future.
Ensure the Active box is checked.
Tip
Generally a commodity only has certain months for which it will need Futures values. For example, if Soybeans are bought & sold only in October and November you don’t need to add the other 10 months of the year.
Check the applicable Delivery Months.
A delivery month cannot be included in more than one Futures Month.
Add additional Month/Futures rows and select Delivery Months as required.
Click Save to save the Futures Month/Year.
The Manage Grain Futures Month/Year window closes.
You can change the Month, Year, and Active status.
To edit a future:
Navigate to Grain > Manage > Futures Month/Year.
The Manage Grain Futures Month/Year window opens.
Select a Commodity and a Year from the dropdown lists and click Retrieve.
Any existing Futures will be listed.
Make your changes as needed.
Click Save.
The Manage Grain Futures Month/Year window closes.
If there's a future you no longer need but has been used so it can't be removed, you can deactivate it. Once a future has been deactivated it cannot be used on any new transactions but can still be viewed on existing transactions.
To deactivate a future:
Navigate to Grain > Manage > Futures Month/Year.
The Manage Grain Futures Month/Year window opens.
Select a Commodity and a Year from the dropdown lists and click Retrieve.
Any existing Futures will be listed.
Uncheck the Active checkbox.
Click Save.
The Edit Grain Futures Month/Year window closes.
Removing a Futures Month/Year deletes it from the database.
A futures row can be deleted only if it has not been associated with any grain activity - but you can deactivate it if you no longer want to use it.
To delete a future:
Navigate to Grain > Manage > Futures Month/Year.
The Manage Grain Futures Month/Year window opens.
Select a Commodity and a Year from the dropdown lists and click Retrieve.
Any existing Futures will be listed.
Select a Futures row.
Click Remove Futures Month/Year.
The Confirm Row Removal window opens.
Select Yes to delete the futures row.
Select No to cancel the row removal.
The row is removed but you will need to Save your changes to make the removal permanent.
Click Save.
The Manage Grain Futures Month/Year window closes.