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The modern American or US bushel is rounded to exactly 2150.42 cubic inches, a difference of less than one part per ten million. [ 5 ] In English use, a bushel was a round willow basket with fixed dimensions, and its inside measurements were as follows - base diameter 12 inches, top diameter 18 inches, height 12 inches - thus giving a volume of ...
The bushel was not fully standardized and the Chicago Mercantile Exchange still (May 2013) uses different bushels for different commodities—a bushel of corn being 56 lb, a bushel of oats 38 lb and a bushel of soybeans 60 lb and a bushel of red winter wheat (both hard and soft) also 60 lb. Other commodities at the exchange are reckoned in ...
For example, each "tick" for the grain market (soybeans, corn and wheat) is 0.25 cents per bushel, on one 5,000-bushel futures contract. Tick values for some popular contracts (as of June 2010 [ 1 ] )
Indeed, the bushel, the best-known unit of dry measure as the quoted unit in commodity markets, is a unit of mass in those contexts. Conversely, the ton used in specifying tonnage and in freight calculations is often a volume measurement rather than a mass measurement.
One common term is barrels per day (BPD, BOPD, bbl/d, bpd, bd, or b/d), where 1 BPD is equivalent to 0.0292 gallons per minute. [15] One BPD also becomes 49.8 tonnes per year. [ 15 ] At an oil refinery, production is sometimes reported as barrels per calendar day (b/cd or bcd), which is total production in a year divided by the days in that year.
Prices were hovering at between $1,770 and $2,175 per tonne [107] as the markets became more bullish and increased prices after China's car scrapping scheme had caused a general upturn in lead, zinc, cadmium and aluminium production. [107] [108] By the June 2010, prices stood at only $870 per tonne, and were back to about $2,200 in the July 2010.
When dealing with the US oat markets though, special attention must be paid to the definition of bushel weight because the US uses a Winchester bushel (35.239 litres). [29] In livestock auction markets, cattle are sold in dollars per short hundredweight (cwt; 100 lbs; 45.36 kg), whereas hogs are sold in dollars per hundred kilograms. [citation ...
In agricultural practice, a bushel is a fixed volume of 2,150.42 cubic inches (35.2391 liters). The mass of grain will therefore vary according to density. Some nominal weight examples are: [25] [26] 1 bushel (corn) = 56 lb (25.4012 kg) 1 bushel (wheat) = 60 lb (27.2155 kg) 1 bushel (barley) = 48 lb (21.7724 kg)