Hundredweight or Bushel as a Trading Unit for Grain

William A. Faught and Woodrow A. Schlegel

No 310476, Marketing Research Reports from United States Department of Agriculture, Agricultural Marketing Service, Transportation and Marketing Program

Abstract: Excerpts from the report Summary: A study of the probable effects of a shift from the bushel to the hundredweight measure in the grain industry indicated that the advantages would vary in degree, depending upon the group concerned. The advantages, however, would be permanent. Disadvantages would be more numerous but not insurmountable, continuing only during the transitional period. Principal advantages were found to be: (1) Conversion of quantities of grain from bushels to pounds and vice versa, now necessary in many cases, would be largely eliminated, with a probable saving in time and work and the possibility of a reduction of errors in such computations; (2) comparisons by farmers and traders of prices and relative feeding values of grains would be facilitated by keeping the different grains on an equal weight basis (per 100 pounds) rather than on the basis of bushels that vary widely in weight. Disadvantages included: (1) The required adjustment in habits of thinking in the grain trade, from the bushel unit to the hundredweight; (2) changes in legislation that would be necessary; (3) changes in forms and office procedures; (4) revisions of historical data; (5) changes in trading practices. The study was made through interviews with representatives of farmers, farm organizations, the grain trade, banks, insurance companies, and other interested agencies and groups. This report presents their views on the merits and problems of the proposed change.

Keywords: Crop Production/Industries; Marketing; Research Methods/Statistical Methods (search for similar items in EconPapers)
Pages: 18
Date: 1957-04
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uamsmr:310476

DOI: 10.22004/ag.econ.310476

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