Yes, 21/64 is just a bit shy of 1/2. 5/16 = 20/64, so 21/64 is 1/64 over 5/16.
If you have a 1/2 inch drill index, 31/64 is the next smaller drill from 1/2 inch. If that's the one you used, it was misread.
Rear tractor tubes (sounds like you are patching your rear rim from your other post) I am familiar with need a 5/8 clear hole for the tube stem. The stem holds the tube in place with a nylon nut at the base of the stem where it protrudes from the hole in the rim. .453 and .625 are standard rim hole sizes. Apparently, yours is different if you only need a 31/64 hole. I just double checked my spare tube, and the threaded brass area for the nut is 31/64 OD. The rubber, which needs to fit into the rim hole, below the nut, is 5/8 OD. Please double check yours, I'm not trying to jerk you around.
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Today's Featured Article - Grain Threshing in the Early 40's - by Pat Browning. The setting is rural Wisconsin, halfway between East Troy and Elkhorn, on Hodunk Road, our nation was at war, and I was 6, 7 and 8 years old. George was our "threshing neighbor." He was the one with the threshing machine, a JI Case on steel wheels, and he pulled it to our farm with a JI Case standard tractor also on steel. In those days, steel wheeled implements were common. The roads were general gravel, so the lugs cutting into them wasn't a problem. George would set up the thresher, s
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