Requirements:
- Setup: Inputs, Fields/Boundaries, Crop Plans and Tasks, Field Plans, and Contracts.
Answer:
The Crop Contracted widget on the Traction Enterprise Dashboard shows how much of your current production cycle's forecasted production is no longer exposed to futures price risk or basis price risk. In other words, it shows the percentage of your expected total harvest for each crop that has the futures or basis price set based on the contracts that you have entered in Traction Enterprise.
Example of how the "Futures" tab for commercial corn grain is calculated:
- Total bushels with futures and/or gross price set: 432,447 bushels
- Total forecasted quantity to harvest: 2,181,089 bushels
- (This can be found on either Financials>Profit Analyzer or Crops>Yield>Analyzer)
- (432,447 bu) / (2,181,089 bu) = 0.198
- % futures contracted = 20% (432,447 bu)
Example of how the "Basis" tab for commercial corn grain is calculated:
"% basis contracted" = (sum of bushels in any contract type, only Opened and Settled, where basis price and/or gross price is set) / (total forecasted harvest quantity for that crop)
- Total bushels with basis or gross price set = 85,000 bushels
- Total forecasted quantity to harvest= 410,680 bushels
- (This can be found on either Financials>Profit Analyzer or Crops>Yield>Analyzer)
- (85,000 bu) / (410,680 bu) = 0.206
- % basis contracted = 21% (85,000 bu)
Related Articles:
Getting Started: Dashboard
How are Forecasted Revenue and Forecasted Costs calculated for Crop Production on the Dashboard?