commodity market

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commodity market

a MARKET for the buying and selling of agricultural produce and minerals such as coffee and tin. Commodity business is conducted through various inter-national commodity exchanges, some of the more prominent ones being based in London, for example the London Metal Exchange and the London International Financial Futures Exchange. Commodity markets provide an organizational framework for the establishment of market prices and ‘clearing’ deals between buyers and sellers (see CLEARING HOUSE SYSTEM). Commodity dealers and brokers act as intermediaries between buyers and sellers wishing to conclude immediate spot transactions (see SPOT MARKET) or to buy or sell forward (see FORWARD MARKET). See BALTIC MERCANTILE AND SHIPPING EXCHANGE, CORN EXCHANGE, EQUILIBRIUM MARKET PRICE.

commodity market

a market for the buying and selling of agricultural produce and minerals such as coffee and tin. Commodity business is conducted through various international commodity exchanges, some of the more prominent ones being based in London, for example the London Metal Exchange and the London International Financial Futures Exchange.

Commodity markets provide an organizational framework for the establishment of market prices and ‘clearing’ deals between buyers and sellers (see CLEARING HOUSE SYSTEM). Commodity dealers and brokers act as intermediaries between buyers and sellers wishing to conclude immediate spot transactions (see SPOT MARKET) or to buy or sell forward (see FUTURES MARKET).

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