Business / Agriculture Glossary

Assimilative Capacity: The ability of a body of water to cleanse itself: its capacity to receive waste waters or toxic materials without deleterious effects and without damage to aquatic life or humans who consume . . . View Full Definition

Association Of Southeast Asian Nations (ASEAN): A multilateral organization formed in 1967 by the governments of Indonesia, Malaysia, the Philippines, Singapore, and Thailand to promote economic, social, and cultural cooperation among nat . . . View Full Definition

Atrazine: A selective herbicide, widely used on corn. It is environmentally significant, since it was the second most commonly detected pesticide residue in an Environmental Protection Agency survey o . . . View Full Definition

Attainment Area: An area considered to have air quality as good as or better than the National Ambient Air Quality Standards as defined in the Clean Air Act. An area may be an attainment area for one polluta . . . View Full Definition

Attractant: A chemical or agent that lures insects or other pests by stimulating their sense of smell. Attractants are a nontoxic technique for luring insects into traps and are heavily used in orchard . . . View Full Definition

Australian Wheat Board (AWB): A statutory marketing agency, which handles Australia’s domestic marketing of wheat and export marketings of wheat and flour. Under the Australian system, farmers take their wheat to elevato . . . View Full Definition

Balance Of Payments: An accounting statement measuring the value of goods, services and capital exchanged between a country and all foreign countries. A nation is said to have either: (1) a balance of payments d . . . View Full Definition

Balance Of Trade: The difference in value between a country’s merchandise imports and exports in a specified period. A country’s balance of trade is only one factor - though an important one - in its balance . . . View Full Definition

Band Application: The spreading of chemicals over, or next to, each row of plants in a field, as opposed to broadcast application.

Bank For Cooperatives (BC): Lending institution within the Farm Credit System that provides credit to agricultural cooperatives and rural utility cooperatives nationwide. Nationally chartered cobank Agricultural Bank ( . . . View Full Definition

Bankhead-Jones Farm Tenant Act Of 1937: P.L. 75-210 authorized acquisition by the federal government of damaged lands to rehabilitate and use them for various purposes. Both the Forest Service and the Bureau of Land Management man . . . View Full Definition

Bargaining Association: A farmer cooperative intended primarily to influence farm prices or other terms of trade between the members and the buyers of the commodities they produce.

Barrows And Gilts: A barrow is a young castrated male hog: a gilt is a young female hog. Both are raised for pork. Market news reports of prices paid for 'barrows and gilts' are of keen interest to producers a . . . View Full Definition

Barter: A form of countertrade in which goods having comparable values are exchanged under a single contract, within a specified period of time, and without any flow of money taking place. The U.S. . . . View Full Definition

Base (Or Contract) Acreage: A farm’s crop-specific acreage of wheat, feed grains, upland cotton, or rice eligible to enroll in commodity programs under previous legislation, and subsequently eligible for production fle . . . View Full Definition

Base Period Price: The average price for an item in a specified time period used as a base for an index - such as 1910-14, 1957-59, 1967, 1977, or 1982. Time series of data are often deflated to a base period . . . View Full Definition

Base Property: For the Bureau of Land Management: land or water resources, owned or controlled by a holder of a grazing permit or lease, that are suitable to support livestock for a part of the year. For t . . . View Full Definition

Base Rates: The minimum cash price for national forest timber to be cut and removed.

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