HSN stands for Harmonized System of Nomenclature. It is a system for classifying commodities created by the World Customs organization. U.S. LTL shipping, however, uses NMFC classifications instead.
Freight class 50 is the least expensive because it refers to the freight that is easiest to transport for the carriers.
If you don't include an NMFC code on your BOL, it is very likely that your carrier will charge you a reclassification fee and charge you the cost of shipping the freight they they determine your shipment is.