The August 2014 Release for GrainBridge was an update that went live for all customers on August 7, 2014.
This release was largely focused on improving functionality within the cash sales section of the application. We introduced the ability to establish cash on portions of Basis, HTA and NPE contracts. We also added the ability to attach brokerage positions to cash sales allowing users to view the overall value with both positions combined, all on one screen. In addition, a simple delivery tracking feature was added to manage bushels delivered on a cash sale. The last major enhancement is advanced filtering options within the cash dashboard. These changes and other additions are listed and detailed below.
- Clean and simple “Add cash sale” screen.
The screen for adding a cash sale is now more streamlined. At the bottom of the screen, you will see “Show more options.” This link is where you can expand the view to find and add the Sale Date, Ref ID & notes.
- Improved cash sale view mode to reflect the idea of a “cash contract.”
- NEW: Ability to set partial cash on a portion of a Basis, HTA or NPE contract.
Previously, offsetting basis and HTA contracts had to be achieved by editing the original Basis or HTA contract and creating a new cash contract.
For example, if you had 15,000 bushels of corn on a basis contract and then wanted to put 5,000 on a cash contract, you would have to edit the basis contract and remove 5,000 bushels and then add a new cash contract to put them in.With this release, partial cash can be set on these contracts to better reflect and track your positions. Your cash summary will reflect these changes as they are made; the original contract amount will be shown, but with these changes attached.
- NEW: Attach brokerage positions to cash sales.
Brokerage positions can be attached to open positions or closed positions. NOTE- when a position is offset or closed the link or attachment to a cash position is removed because a new position has been created (closed position). You may want to wait to attach the positions once they have been closed.
- NEW: Track delivery on cash transactions.
You now have the ability to track delivered amounts in the cash section. This feature can be accessed via the “View” link on the right side of a cash sale.
This process will show delivered amounts, dates, and how much is yet to be delivered.
- NEW: cash sale filters.
In addition to the standard filter in the cash list, there is now an advanced filter. This filter allows sorting by one or multiple criteria.
- NEW: “Print sale” option to print the cash sale.
- Risk Management Report Summary Totals.
The risk management report provides a new column with a weighted average for each cash transaction type.
- Improved functionality with copying per acre expenses in the Plan section.
You are now able to copy per acre expenses from all profiles with the same base commodity. Previously, you could copy expenses from a crop type and year, but not the per acre expenses of an individual profile. With this update, you can choose a particular profile to copy the expenses from.
This new functionality is particularly helpful for those managing field-by-field.
- NEW: Organization for the Futures and Options: Futures and Options can now be grouped by “Month”. Notice that Futures and Options are now listed under the “Brokerage” tab on the Dashboard.
- Auto-Import of short-dated options: The auto-import process of short-dated options is currently being integrated by specific firms on request. If interested please contact email@example.com for further details.
Listed below are the dates, times, and registration links for all Producer webinars that we will be hosting throughout June and July.
June Webinar Sessions
July Webinar Sessions
Whenever we bring on a new ag business as a client, our main objective is always a smooth implementation- making GrainBridge a part of your business and getting producers on the system and using it with ease. We do our best from the start to ensure that our new clients have the support and training that they and their producers need.
But, what about after the initial implementation? Maybe your business has had GrainBridge for a couple of years now, and you have a pretty decent client base, but is there room for growth? You have a group of farmers that are using a few tools on the system, but could there be tools they don’t even know about?
These are valid questions, but these are questions that take time to address. We understand that both the ag business and the producers are incredibly busy throughout the year. You’re planting, planning, trading, , harvesting, marketing, selling, and then learning to use these new management tools on top of everything else? That’s a lot to take on. And that’s why we’re here to give our businesses and producers a helping hand with a summer series of webinars.
These webinars will be focused on both exciting and educating producers about the GrainBridge platform. We will be walking through all of the key components of our software- from the planning pieces of setting up profiles, to managing expenses and setting targets, as well as tracking futures and options trades. This will be a great basic education for new users, as well as a brush-up for those who already know how to use the system. This will also be a great opportunity to show off what all GrainBridge has to offer for producers who are not yet on the system.
These sessions will take place every Tuesday morning at 8 AM CST and Thursday afternoons at 1 PM CST. The session itself will be a recorded tour of the system, but a GrainBridge team member will be standing by throughout the session to answer any questions.
1. CHS Hedging Brokerage Import
GrainBridge now supports automatic brokerage importing for clients who use CHS Hedging. This is in addition to our current list of brokerage clearing firms: ADM Investor Services, LIN Group, RCG, RJ O’Brien, Vision, and FC Stone.
To learn more about brokerage importing with GrainBridge, visit our online help guide at help.grainbridge.com or call GrainBridge Customer Support.
2. What-If Analysis for Targets
One of the most frequently used and exciting tools from GrainBridge is the What-If Analyzer. You can now run analyses on Targets, in addition to Board Prices, Yield, Insurance, and Basis Prices.
This analysis allows a producer to see how lowering or raising their target prices will impact their profitability and alter the rest of their operation.
To learn more about setting your target prices in GrainBridge, click here.
The GrainBridge 2014 Q1 Release was an update to GrainBridge that went live for our customers on March 16.This update consists of many new features, as well as numerous improvements and bug fixes which are detailed below.
- Tuesday, July 1, 8 AM CST https://www2.gotomeeting.com/register/914616122
- Thursday, July 3, 1 PM CST https://www2.gotomeeting.com/register/939231786
- Tuesday, July 8, 8 AM CST https://www2.gotomeeting.com/register/345760658
- Thursday, July 10, 1 PM CST https://www2.gotomeeting.com/register/680996178
- Tuesday, July 15, 8 AM CST https://www2.gotomeeting.com/register/800398578
- Thursday, July 17, 1 PM CST https://www2.gotomeeting.com/register/850961778
- Tuesday, July 22, 8 AM CST https://www2.gotomeeting.com/register/928303618
- Thursday, July 24, 1 PM CST https://www2.gotomeeting.com/register/955788874
- GrainBridge Offer Management – Our new offer management system is automated to provide the merchandisers with a simple, safe and secure place to manage customer offers across the desk or the internet. GrainBridge Offer Management provides the convenience of tracking multiple offers with ability to filter by crop, transaction type, delivery, closest to reach and more. Offers automatically light up when reached and the buyer has final decision in accepting or denying offers.
- FCStone Automatic Brokerage Importing – For those utilizing our brokerage import tools, we have already been offering ADM Investor Services, LIN Group, RCG, RJ O’Brien, and Vision. GrainBridge is pleased to announce that FCStone has now joined our growing group of brokerage clearing firms.
- Short Dated Options – By popular request from the brokerage firms that GrainBridge imports from, we added the ability to enter short-dated option trades. Short-dated options are available for the major crops- corn, wheat, and soybeans.
- Scheduled Report Delivery – Administrators now have the ability to schedule reports to be sent to their clients and/or to themselves. In the previous version of GrainBridge, admins could push out reports to clients, but each report had to be pushed individually. Administrators may now schedule report deliveries to any selection of clients or groups, and pre-set delivery times for a one-time delivery, or for daily, weekly, or monthly reports. This versatility in automatic reporting can provide greater engagement between admins and their clients with a lesser time commitment for setting up and sending reports.
- Improved Risk Management Reporting – Not only does this new release allow for scheduled report delivery, the reports themselves are even sleeker and more comprehensive than before to give the best picture of an operation’s positions and profitability.
- “Delivered” Flag and Date Settings for Cash Sales – The cash sales section now not only includes your delivery date, but you may also mark a sale once it has actually been delivered. Tracking if your commodity has been delivered and the exact date of delivery is a great tool for better management and record keeping of your cash sales.
- “Basis Set Date” Option- For cash transactions where you enter a basis value, you may now add a “basis set date” to track when you set which basis.
- 2014 New Insurance Products – With the new Farm Bill, crop insurance has underwent several changes. This new release of GrainBridge accounts for these changes with the new insurance types. Our application now includes RP, RP (HPE), YP, ARP (HRE), ARP, AYP, and APH policies. We have also updated the March guaranteed rates, which can be found in your Insurance section.
- Improved Usability on Tablets and Mobile Devices – This updated version of GrainBridge has increased its capacity to recognize and adjust to a wider variety of screen sizes on your mobile phone and tablet. GrainBridge will automatically accommodate any screen size and is fully functional on both Apple or Android devices. All tabs and features that are available when using the system online are available via dropdown menus on mobile devices.
New Product release, introducing a new set of risk management modules. Risk Management made simple.
- New Support Portal – GrainBridge is excited to provide our valued users with a newly-created online Support Portal. This Support portal allows users to find answers on an array of topics ranging from basic set up to complex individual questions that can be found in each topic sections FAQs. Our support portal is fully searchable, allowing users to type in questions or keywords, or you may simply browse through the articles for new information. If you have a specific question, we encourage you to ask it via our portal. When asking a question via the portal, our support team and other GrainBridge clients are able to reply to your question publicly, making the answer instantly available to all. This portal may be accessed through the Help Center under the Help tab in the application or at help.grainbridge.com .
What-If Analyzer – Powerful tool to help the producer and the agribusiness understand potential risk exposure
Grain Procurement – Make procuring grain simple for all your originators or manage all from one location!
Ten years ago I switch our home phone service that Qwest provided to a VOIP service, which stands for “Voice Over Internet Protocol.” The VOIP service works the same as the old-fashion phone except it used high speed internet to carry the conversations vs. the traditional phone line. Five years ago I was so pleased with how the home phone VOIP service was working that I subscribed to the service in our offices. This new technology costs a fraction of what traditional phone services cost and comes with many amazing options to help you’re ag business communicate with clients and employees.
One of my favorite features are Answering ruleswhich route calls based on the time called, caller ID or the number called. Imagine having a system that routed calls based on the caller ID, let’s say your company has a grain broker that you communicate with often and when he calls, the system automatically routes his call to your desk and cellphone at the same time, this potentially saves your broker, the secretary and yourself time and money. How about that important farm client that you want routed directly to you; they would really be impressed?
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1. Meeting with John Doe in Waterloo to go over grain contracts
2. Meeting with Bob Doe in Valley to go over 2012 grain programs
3. Board meeting in Main Office to discuss new storage facility
4. All company safety meeting at Duncan location
5. Present 2013 Budget to General Manager in Main Office
Does this type of schedule look familiar to you? It’s hard to get much done in a day when you are running all over the country. Today, you can become more efficient if you utilize the new communication technologies that provide web meeting services.
A Web meeting will work great to conduct your meeting with John Doe, discuss his existing grain contracts by sharing the screen on your computer with him or let him take control and share his screen with you. If you really want to add the personal touch you can even activate the camera on your computer and show your face.
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Photos: Drought Disaster 2012
Today agricultural professionals spend more time than ever before on the computer reading email, searching the internet, working with software applications and entertaining themselves. Keeping your digital life organized continues to be a challenge with emails you want to keep, web pages you want to save and documents that need filed.
EVERNOTE is a software application that has made its way to the top of the digital organization industry. Evernote can be installed on your smart phone, tablet, laptop and desktop. Once installed you have access to all the digital information you have organized in one convenient place no matter what device you are using.
Click here to read the full article by Mark Frank
- What-If Analyzer – Create what-if analysis adjusting yield, price, basis and insurance levels to determine worst case/ best case opportunities.
- Understand your risk exposer when yields and markets are volatile.
- Realize estimated value on your unsold grain, futures, options and how it affects your bottom line.
- Determine estimated “indemnity payment” on current crop insurance program.
- Offer Management Tools – Manage all offers from one secure site. Track offers in house with option to allow clients to send offers via the internet system. NO Transaction fees.