TeachMeFinance.com - explain Basing point
Basing point The term 'Basing point ' as it applies to the area of agriculture can be defined as ' A geographical site used to establish fixed rates and/or prices for federal milk marketing orders. Generally, rates or prices increase according to the distance from the basing point. The FAIR Act of 1996 authorizes USDA to consider the use of multiple basing points for pricing milk under federal milk orders'.
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