Description
dryUnitPrice = wetUnitPrice/(1-observedMoisture); referenceUnitPrice = dryUnitPrice*(1-referenceMoisture).
Historical price series need compatible quantities, quality, dates and currency conventions. Rebasing or splicing a series changes its numerical scale without resolving source comparability or proving a change in living standards.
dryUnitPrice = wetUnitPrice/(1-observedMoisture); referenceUnitPrice = dryUnitPrice*(1-referenceMoisture).
When to use this tool
Use Historic Grain Moisture Price Factor when checking a supplied historical price or index transformation.
How to use the tool and how it works
- Enter wetUnitPrice, observedMoisture, referenceMoisture. Use the units and conventions below.
- Run the tool. Correct any format, range, or cross-field input error before interpreting the output.
- Read referenceUnitPrice, dryUnitPrice. Use the output convention below.
Require observedMoisture and referenceMoisture in [0,1). dryUnitPrice = wetUnitPrice/(1-observedMoisture); referenceUnitPrice = dryUnitPrice*(1-referenceMoisture).1
| Input field | Meaning and units | Accepted input |
|---|---|---|
| wetUnitPrice | Wet Unit Price | Required. Finite number. |
| observedMoisture | Observed Moisture | Required. Finite number; minimum 0; strictly below 1. |
| referenceMoisture | Reference Moisture | Required. Finite number; minimum 0; strictly below 1. |
| Output field | Interpretation | Returned shape |
|---|---|---|
| referenceUnitPrice | Reference Unit Price | Required. Finite number. |
| dryUnitPrice | Dry Unit Price | Required. Finite number. |
{
"input": {
"wetUnitPrice": 80,
"observedMoisture": 0.2,
"referenceMoisture": 0.1
},
"output": {
"referenceUnitPrice": 90,
"dryUnitPrice": 100
}
}Limitations and assumptions
- Moisture fractions use the wet-mass basis and prices the same mass unit. This assumes value tracks dry matter; quality, drying costs and historical trading rules are omitted.
- Inputs must satisfy both the field types and the cross-field conditions above. Invalid input causes an error; a successful false flag or documented placeholder is a different result.
- Numeric calculations use binary floating point unless exact decimal-integer arithmetic is explicitly stated. No hidden measurement tolerance or decimal rounding is added; nonfinite or out-of-contract results are rejected. Numeric signed-zero results are exported as zero.
Alternative or Complementary methods
Verify the original quotation basis and comparable series concepts, and use appropriate historical evidence for quality and unit adjustments.
References
Similar or alternative tools
- Historic Price Quality Adjustment Caller Factor
adjustedPrice = observedPrice*(referenceQuality/observedQuality)^elasticity.
- Historic Commodity Freight Price Share
landedPrice is their sum; freightShare = freight/landedPrice.