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TeachMeFinance.com - explain Fungibility Fungibility The term 'Fungibility ' as it applies to the area of agriculture can be defined as ' The characteristic of interchangeability. Bulk commodities are generally described as fungible, whereas those with special characteristics may be marketed as identity preserved. Futures contracts for the same commodity and delivery month are fungible due to their standardized specifications for quality, quantity, delivery date and delivery locations'. Previous 5 Terms: Fund for Rural America Fundamental Theorem of Algebra fundiform funebral fungi Next 5 Terms: Fungicide fungiform fungous funicular Funnel Cloud 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.