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TeachMeFinance.com - explain Contract commodity Contract commodity The term 'Contract commodity ' as it applies to the area of agriculture can be defined as ' The commodities previously eligible for deficiency payments and now eligible for production flexibility contracts under the FAIR Act of 1996: wheat, corn, sorghum, barley, oats, rice, and upland cotton'. Previous 5 Terms: Contour mining Contour plowing Contour strip farming Contract Contract acreage Next 5 Terms: Contract for future sale Contract payments under AMTA Contract price Contract production Contract rate About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.