Farm Industry News Blog

FBS accounting software adds interface with DTN market prices

FBS Systems, Inc. has added the ability to automatically feed current commodity prices from DTN into its integrated management software suite, a first for the on-farm records software industry, the company claims.

 

FBS Systems, Inc. has added the ability to automatically feed current commodity prices from DTN into its integrated management software suite, a first for the on-farm records software industry, the company claims.

Setup and maintenance are simple and automated. Users select which commodities they wish to track and their expected seasonal basis levels. Then the software connects to the DTN website to download contract histories into an internal database. From that point, the database will update itself either daily or every 10 minutes, depending on the service plan.

The DTN interface is integrated into various FBS software modules, with more to come. The FBS Contract Module will display current net market positions by commodity, quarter and month. The Smart Feeder Planning module can project open and net cash animal sales, feed costs, margins and projected cash flows and income statements for as far into the future as commodities are trading. Upcoming software updates will link DTN data with Crop Audit, Inventory Register and Lower of Cost/Market modules.

The DTN database also is integrated with the Farm SeRVey web dashboard, which provides sophisticated monitoring and analysis options, including real-time graphing of futures, spreads, margins and expected versus actual basis.

For more information, contact FBS Systems at sales@fbssystems.com or call 800/437-7638.

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