What you might not have realised is that, as raw materials, each of these is an asset that can be invested in, or traded, for a profit. Now it is one of the most popular types of markets to trade on, from commercials, institutions and speculators alike.Įvery person engages with commodities every day - from your morning coffee or orange juice, to the crude oil and gas that fuel your car and power your home. However, the global commodities market, and commodity trading itself really kicked off when the Chicago Board of Trade was set up in 1848. In 17th century Japan, rice merchants used to sell their stores of rice by selling 'rice tickets' (just like clay tokens) to willing buyers. Locals would use clay tokens as a medium of exchange for goats. Did you know that commodity trading dates back to ancient civilisation?Īs far back as 4500 BCE in Sumer (now modern day Iraq), there was a commodity market.
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