price basing

Definition of "price basing"
  1. When commercial transaction prices for a commodity are set based on its futures prices or related commodities, common in grain and metal markets
How to use "price basing" in a sentence
  1. The farmer used price basing to set the value for his corn crop.
  2. Due to price basing, the cost of the metal fluctuated following changes in the futures market.
  3. In the grain market, price basing has led to more predictable revenues for farmers.

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