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TeachMeFinance.com - explain Basic commodities Basic commodities The term 'Basic commodities ' as it applies to the area of agriculture can be defined as ' Six agricultural crops (corn, cotton, peanuts, rice, tobacco, and wheat) declared by permanent law as requiring federal price support'. Previous 5 Terms: Basement basial BASIC Basic Benefits Basic Benefits (Medigap Policy) Next 5 Terms: Basic formula price (BFP) basic science basin Basin Boundary Basin Lag 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.