Rolling is an industry term that indicates changing futures reference price to reflect a deferred futures month or changing basis to be valued versus a deferred futures month. A customer may roll for various reasons, including capturing a futures spread, or wanting more time to price their grain. Rolling is sensitive to market conditions and…
A spot price is determined by the flat cash price at the delivery location on the date of delivery. A customer may utilize this price if they don’t have contracts that apply.
HTA is an acronym for Hedge to Arrive; may also be referred to as “Futures Only.” This contract allows the customer to lock in the futures piece of their final flat price contract. Basis must be set before delivery. Fees and specifics on rolling vary by location.
