Pricing Lines & Pricing Histories

Overview

Pricing Lines

A Pricing Line captures the delivery and main pricing information for a portion of the total contracted quantity. A Contract will frequently only have one Pricing Line, however Bushel supports multiple Pricing Lines which is common in some systems. This allows a single Contract to have multiple delivery periods, delivery locations, and/or pricing information.

Pricing Histories

Pricing Histories are directly related to a Pricing Line and provide additional pricing details and context that compose a Pricing Line. These details include the date that the Futures and Basis prices were set in addition to any premiums or deductions applied to the Pricing Line that are not otherwise captured by the Futures and Basis prices. Unlike Pricing Lines, Pricing Histories are not an essential component of a Contract but do provide useful information to producers such as when the Futures and Basis prices were locked in or last modified. In addition, Pricing Histories reveal the price and description of any premiums or deductions that affect the final Cash Price of the Contract.

Pricing Histories represent the current snapshot of a Pricing Lines pricing components rather than a historical record of all pricing changes. Thus, if the value of a Pricing History record is modified (for example, the Basis is updated) the existing ‘Basis’ Pricing History record should be updated rather than sending a 2nd, additional Pricing History record.

Data Mapping

Pricing Lines and Histories Data Mapping
# Name Description API Source

1

Pricing Line Details

A lower level details of an individual Pricing Line.

2

Pricing Line Number

The pricing line identifier as it would be known to the producer.

pricing_line.display_id if not null, pricing_line.id otherwise

3

Delivery Period

The timeframe during which the commodity can be brought to the Delivery Location to fulfill the Contract

The timezone-adjusted dates of pricing_line.delivery_period_start and pricing_line.delivery_period_end

4

Delivery Location

The name of the Location(s) that will receive the commodity

The name of the Location with an id matching pricing_line.location_id. If no match is found, "UNKNOWN"

5

Amount

The amount and units of measure of the contracted quantity covered by this Pricing Line.

pricing_line.quantity_priced and pricing_line.quantity_uom

6

Signature Status

The state of the selling party’s signature of acceptance of this Pricing Line.

pricing_line.signature_status

7

Futures Price

If applicable for the contract type, the price of commodity on the futures market that the price of this Pricing Line is based on.

pricing_line.futures_price

8

Basis

If applicable for the contract type and set, the Basis (or difference between Cash Price and Futures Price) for this Pricing Line

pricing_line.basis_price

9

Adjustment

The total of all per-unit-of-measure premiums or deductions applied to the contract price that are not reflected in the Basis. This value is calculated from the Pricing Histories records associated with this Pricing Line.

The sum of the price from all Pricing Histories with a mode equal to "per_unit" and type not equal to "basis" or "futures" (case sensitive)

10

Cash Price

The cash value (per unit of measure) of the quantity of the commodity covered by this Pricing Line

pricing_line.cash_price

11

Futures Month

If applicable for the contract type, the contract month in the futures market that the price is based on.

pricing_line.futures_month

12

Pricing History Details

A list of the pricing events and other factors that dictate the overall Cash Price of the Contract

13

Last Updated

The date the pricing event was set or last modified

pricing_history.updated_at

14

Price

The amount that the Cash Price or contract value was modified

pricing_history.price

15

Mode

Whether the Price affects the per-unit-of-measure price of the contract or is applied once following all other pricing calculations. E.g. a 'Flat' Pricing History may be a discount given if the contract was signed via eSign.

"Unit" when pricing_history.mode is "per_unit"

"Flat" when pricing_history.mode is "flat"

16

Type

A description of what event or category of price modification the Pricing History represents.

pricing_history.type

Pricing Modes

Both "flat" and "per_unit" pricing modes are supported. This indicates how the pricing information in a Pricing History is used to calculate the cash value of the Contract.

Per Unit

A pricing_mode of "per_unit" is the most common form of Pricing Histories and capture modifications to the Contracts pricing that may not otherwise not captured by the Futures or Basis prices. These premiums or deductions are given in terms of ‘price per unit of measure’, with the unit of measure being the same as the parent Contract’s quantity_uom.

All Per-Unit Pricing Histories with a type other than "basis" or "futures" will be added together and displayed as an ‘Adjustment’ in the parent Pricing Line.

Flat

A flat pricing mode is a modification to the contract price that is independent of the quantity contracted. For instance, if a $3 discount is given whenever eSign is utilized in signing the contract, the following Pricing History may be sent:

  {
    "price": -3,
    "pricing_mode": "flat",
    "type": "eSign Discount",
    "id": "c1223_pl1_esign_discount",
    "pricing_line_id": "c1223_pl1",
    "created_at": "2024-05-06T17:12:34-05:00",
    "updated_at": "2024-05-06T17:12:34-05:00",
    "version": "1.0.0"
  }

Flat pricing modes are not included in any Adjustment calculations.