Understanding commodity unit prices

RichardJW1

Looking at the world commodity prices how can I tell exactly what the unit weight is.

For example Wheat is $524.76.....what? Surely not per tonne?

Cotton is $43.56 - what? a bale? how heavy is a bale? Is it processed?

anyone can advise?

nomoneytoday

$528 is the price of wheat for the forward delivery of 5000 bushels in March, made up of a synthetic amount of Northern Spring, Hard red winter, soft red and dark Northern wheats

Cotton is based on the contract price for physical delivery of exchange grade product for approx 100 bales of cotton as graded by the Dept of Agriculture. Current delivery contracts at $44 are for May 09.

Hope that helps,