FarmLead, North America’s Grain Marketplace, announced today the launch of the FarmLead Basis Negotiation feature on its leading trade platform. The new feature allows buyers and sellers to post and negotiate basis contracts in addition to the existing options of cash contracts. The announcement complements the company’s continued expansion across North America.
The new feature benefits grain buyers by enabling them to set a cash price by adjusting their basis against a commodity’s futures price. Buyers no longer have to worry about the impact of their cash bid being out of the market when the futures markets move up or down. By setting their basis on the FarmLead platform, their cash price will update automatically as futures values change on a daily basis.
Sellers benefit from the increased price transparency and knowledge of changes in the cash AND basis markets. Giving both the basis and cash contract options, along with current option to negotiate different delivery periods will help farmers optimize their grain marketing plan better than ever before.
“The FarmLead Basis Negotiation feature is truly a one of its kind offering in the agricultural industry,” said FarmLead founder and CEO Brennan Turner. “This new feature on the FarmLead Marketplace will help both buyers and grain farmers maximize their respective buying and selling plans. This Basis Negotiation feature offers more proof that FarmLead has established itself as the most innovative company in grain trade today.”
FarmLead also unveiled new features that allow grain buyers and sellers to negotiate commodities in different currencies. In addition, general updates include a new look and feel to the FarmLead marketplace.