basis grade

Definition of "basis grade"
  1. A standard or par commodity grade used in a futures contract
How to use "basis grade" in a sentence
  1. The wheat used in the futures contract is determined by the basis grade.
  2. When trading, it's crucial to understand the basis grade of the commodity.
  3. The rise in the price of the commodity affected the value of futures contracts, though the basis grade remained unaffected.

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