Certificated Stock
A stock of commodity that has been inspected by qualified representatives and determined to be of basis grade. Investopedia Says:
Stock of commodities that are certificated are also referred to as "certified stocks." They can be used as delivery against futures contracts and are normally kept at a holding facility until transfer.
For grain, a certificated stock is known as "stocks in deliverable position" or deliverable stock. Related Terms:
Actual
Approved Delivery Facility
Basis
Basis Grade
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