What is Commodity?
Hi, Today I am going to tell you What is Commodity? A Commodity is a raw material or primary agricultural product that can be bought and sold, often in large quantities. Commodities are an important part of global trade and commerce, and their prices can have a significant impact on the global economy. Commodities can be broadly categorized into two groups: hard and soft commodities. Hard commodities are typically extracted from the ground and include metals like gold, silver, and copper, as well as energy products like oil, natural gas, and coal. Soft commodities, on the other hand, are typically agricultural products and include crops like wheat, corn, coffee, and sugar. Commodities are traded on exchanges around the world, with the largest and most well-known being the Chicago Mercantile Exchange (CME) and the New York Mercantile Exchange (NYMEX). These exchanges allow buyers and sellers to trade contracts for the delivery of a specific commodity at a future date. The prices of...