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When the market says that the corn price is 362.50 what is the bushel price and how do you figure that out?
Wiki User
∙ 14y ago
The US commodity markets have a somewhat different convention for showing the current price of the commodities. The price for corn, for example, might be shown as 362.50, or as 362'5 or even 36250, but they all mean $3.625 US per bushel at the commodity market. Keep in mind that the Chicago market, for instance, sells only in 5,000 bushel lots, and that any local buyer or seller will have a "distance from destination" charge, commonly called "basis", which will be taken off the market price.
Wiki User
∙ 14y ago
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