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A commodities exchange is an exchange, or market, where various commodities are traded. Most commodity markets around the world trade in agricultural products and other raw materials (like wheat , barley , sugar , maize , cotton , cocoa , coffee , milk products, pork bellies , oil , and metals ).
In finance, a spot contract, spot transaction, or simply spot, is a contract of buying or selling a commodity, security or currency for immediate settlement (payment and delivery) on the spot date, which is normally two business days after the trade date. The settlement price (or rate) is called spot price (or spot rate).
Soft commodities may be perishable and harvested, while hard commodities are usually mined, such as gold and oil. [1] Futures contracts are the oldest way of investing in commodities. [citation needed] Commodity markets can include physical trading and derivatives trading using spot prices, forwards, futures, and options on futures.
The Bloomberg Commodity Spot Index, which tracks prices for 23 raw materials, hit the highest-ever level.
In a spot market, settlement normally happens in T+2 working days, i.e., delivery of cash and commodity must be done after two working days of the trade date. [1] A spot market can be through an exchange or over-the-counter (OTC). Spot markets can operate wherever the infrastructure exists to conduct the transaction.
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