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When do I need to set my basis?

Typically, your basis will need to be set prior to delivery of the grain or at a date that is specified on your ADM contract, whichever comes sooner.

Glossary

DP

DP is an acronym for “Deferred or Delayed Pricing.” It can also be referred to as “PL/Price Later.” When utilizing a DP contract, ownership of the grain transfers to the elevator. This contract allows the customer to deliver the grain to ADM under the agreement that the grain will be priced at a later date.…

Futures Reference Price

This price is reflected on ADM contracts to determine the final cash price once the basis has also been established. The futures reference price relates directly to exchange futures prices for that specific commodity. Futures reference prices may be established in many ways depending on the contract type.

Cash

Cash is the cash price established when you sell grain to ADM and what you will receive for each bushel/ton/etc. before any possible fees, taxes, or discounts.

ASP™

ASP is a trademarked product offered by ADM and references a contract that can help a customer capture an Average Seasonal Price. This contract varies by commodity and location, but is a valuable tool to help establish a futures reference price by using a formula that captures seasonal trends.

Price Point

ADM contract that combines a floor with upside potential.

Service Fee

Per bushel charge by ADM for contract participation.

Crow Trading

Independent commodities trader available to price grain contracts enrolled in ADM Advantage Expert.

Farm Direction

Independent commodities trader available to price grain contracts enrolled in ADM Advantage Expert.
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