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Express Your Bias

Markets are constantly moving. Cargill Focal Point is for the customer who wants to be "hands on" in expressing a market bias. Focal Point allows you to sell your grain and re-establish futures price risk. You establish an initial Focal Point price on a selected futures month and then re-price at a later date, allowing you to stay in the market. The resulting gain or loss from that initial price then becomes a part of your final contract price.

When is it used?

Focal Point should be used when you feel that futures prices have upside potential in relationship to the current market. It can be used prior to delivery or when you need to transfer ownership of grain due to space limitations, grain condition or financial need. Utilize the contract when you are confident that futures prices in the selected month will improve and you are comfortable without an absolute price floor.

What are the advantages of the Focal Point contract?

  • Lock in a futures level through a futures-only or priced cash contract, knowing that if market conditions change you can participate in a potential futures price movement

  • Can establish or re-price the Focal Point outside of normal CBOT trading hours

  • Cash can be generated in the form of an advance on delivered production; advance levels may vary by location

  • Offers an alternative to paying No Price Established (NPE) charges or storage charges

  • Flexibility of having the opportunity to improve the futures level after already making a selling decision

  • Possibility of an increase in the contract price from the initial Focal Point price

  • Per local policy, you can establish and re-establish a Focal Point price multiple times if it is prior to delivery

  • Relatively straightforward and easy to understand compared to using more traditional brokerage services that require margining

  • Use of downside protection is required, which can be in the form of a fixed price stop, trailing stop, or strategy using a long put

Download: Focal Point