Offer Manager
- Chris Harrison
- Mark O'Riley
- Brendan Hebert (Unlicensed)
The most widely used and essential panel for any merchandiser’s workflow is the Offer Manager panel. Create, edit, cancel and view all existing offers in one centralized panel.
Inserting the Offer Manager Panel
Insert the Offer Manager panel by selecting Connect in the main toolbar or clicking on the '+' next to a panel tab.
Viewing Offers
Once the panel is inserted into the workspace (and your Connect account is configured), all existing Pending (more of offer ‘Status’ types below) offers will be displayed.
Offer Creation
To create a new offer on behalf of a farmer / producer, click on the ‘New Offer’ button located in the top right corner of the Offer Manager panel.
Once selected, a new Create Offer dialogue will appear. Here you can begin creating the offer by first selecting the ‘Offer Type’
Below are the offer types available and a brief description
Offer Type | Description |
|---|---|
Cash | Indicates the offer will match based on the difference of the price and basis for the commodity. |
HTA | Indicates the offer will match based on the futures price. |
Basis | Indicates the offer will match based on the basis price for the commodity. |
Spot | Identical to Cash offers except the delivery date will dynamically roll over to the closest date as long as the offer has not expired (note: these offers are only supported for Connect only & non-Hedging (HMS) users) |
(Note: Each company can configure which the types of offers they accept via Connect and / or CQG for Hedging purposes.)
Next, you will need to enter the Create Offer input fields. Below are the fields required and a brief description.
Create Offer Fields | Description |
|---|---|
Farmer | The global ID for the farmer making the offer. More times than not this will display with the producer’s name in the selection field. |
ERP Account | The global ID for the account the offer should be assigned to within the elevator's accounting provider (optional depended on accounting provider integration) |
Cash Account | When enabled for Hedging (HMS), a Cash account can be selected for cash grain execution |
Location | The unique Name or ID associated to a location within the elevator's cash bid. |
Commodity | The underlying product / instrument type of the cash bid. |
Delivery | The start and end of the delivery range for the cash bid. (Note: For Hedge (HMS) users the delivery range will also include a description of the cash bid) |
Future | The underlying source futures contract of the cash bid and that future’s last traded price. |
Basis | The basis of the cash bid. |
Current Cash | The current prevailing price of the cash bid. |
Price | The price the offer is being made at. |
Quantity | The number of bushels the offer is being made for. |
Expiration | The date at which the offer is no longer valid at. |
Notes | Any miscellaneous information about the offer.
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Once all fields have been input, click Create in the lower right corner of the dialogue to submit the cash offer.
Once the cash offer is submitted, the order will display in the offers table.
Update Offer
Edit an existing offer by double-clicking or right-clicking on the cash offer in the Offer Manager panel.
The Edit Offer dialogue will display where the Offer (price), quantity of bushels, delivery and expiration date can be update.
Timeline
Track the history of a cash offer by clicking on the Timeline button in the Edit dialogue.
Offer Status
Once the cash offer is submitted in the Offer Manager panel, the offer will be updated with various statuses along the lifecycle. Update the offer status of existing offer by double-clicking or right-clicking on the cash offer in the Offer Manager panel.
Below are the various statuses in chronological order and a brief description of each.
Offer Status | Description |
|---|---|
Pending | Indicates the offer has been created and no action has been taken yet. |
Acknowledged | Indicates the offer has been acknowledged by the elevator, but no action has been taken. |
Accepted | Indicates the offer has been accepted by the elevator. |
Rejected | Indicates the offer has been rejected by the elevator. |
Cancelled | Indicates the offer has been canceled by the customer. |
Matched | Indicates the offer has matched its target price (Only used in offer Timeline) |
Expired | Indicates the offer has expired. |
Orphaned | Indicates the offer has an invalid delivery date. An offer in this state is not guaranteed to match. |
Hedging of Cash Offers
If a hedging (HMS) account is synced, once an order is placed cash offers are auto acknowledged and depending on the quantity of bushels of the offer a hedge can be automatically placed. In the Offer Manager, you can find the details of the offsetting hedge in the Associated Hedge ID column.
These offsetting futures hedges (when available) will also be visible in the Orders panel.
Filtering Cash Offers
The cash offers table can be filtered in a variety of ways to improve workflow. The filters are found in atop the Offer Manager.
Filter on Status, Location, Commodity, and created/delivery/expiration date. Further the table can be grouped by Location, Farmer, Commodity, Delivery and Expiration Date.
Additionally, sort the table alphabetically, in ascending / descending order by clicking on the Header cell associated with a Grouping name. Note the up (down) arrow below.
Columns
Apply (remove) a variety of data fields by clicking on the Columns dropdown menu in the upper right corner of the Offer Manager panel.
Use ‘Autofit Columns' to size all of the applied columns to your screen. ‘Restore Default Columns’ will remove any additional columns selected. Below are the column ‘fields’ and a breif description of each.
Column | Description |
|---|---|
Number | The cash offer ID associated with the customer and corresponding to the cash bid |
Location | The unique Name or ID associated to a location within the elevator's cash bid. |
Commodity | The underlying product / instrument type of the cash bid. |
Type | The cash offer type |
Names | The farmer / producer name |
Side | The direction of the cash order (sell or buy) |
Delivery | The start and end of the delivery range for the cash bid. (Note: For Hedge (HMS) users the delivery range will also include a description of the cash bid) |
Quantity | The number of bushels the offer is being made for. |
Status | The cash offer status |
Offer Price | The price the offer is being made at. |
Basis | The basis of the cash bid. |
Futures Required | The underlying futures price target to trigger the cash offer transaction |
Futures Price | The last traded price of the underlying future |
Offer to Match | The change in cash to trigger to the cash transaction |
Future | The underlying futures contract |
Expiration | The date at which the offer is no longer valid at. |
Submitted | The date at which the offer was entered |
Hedged | The status of the working futures hedges |
Associated Offer ID | The order details of the cash of the cash offer order (Note: click on the hyperlink to view the timeline of the order activity) |
Associated Hedge ID | The order details of the futures hedge associated with the cash offer |
Brokerage Account | Brokerage account name |
Brokerage Account # | Brokerage account number |
Filled | The number of futures hedged filled offsetting the cash offer |
Unfilled | The number of futures hedges outstanding tied to the cash offer |
Fill Date / Time | The date and time of the futures hedge fill |
ERP Account | The global ID for the account the offer should be assigned to within the elevator's accounting provider (optional depended on accounting provider integration) |
Export
Export the Offer Manager panel’s table to Excel by clicking ‘Export’ button.
Settings
Customize the font, gridline display or opt to color alternate rows by clicking on the Settings (cog wheel) in the upper right corner of the panel.