basis quote

Definition of "basis quote"
  1. A cash commodity's offer or sale, estimated as a difference above or below a future price
How to use "basis quote" in a sentence
  1. The market analyst used the basis quote to calculate the final price for the wheat consignment.
  2. The price of oil was settled as a basis quote over the futures price.
  3. Understanding how the basis quote works can be crucial for commodities traders.

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