Commodity

A commodity, as defined in the Commodity Exchange ActThe Commodity Exchange Act, 7 USC 1, et seq., provides for the federal regulation of commodity futures, includes the agricultural commodities enumerated in SectionSection of land is established by government survey, contains 640 acres and is one mile square. 1a(4) of the Commodity ExchangeWhen ownership of like-kind properties are transferred between two or more owners; can result in postponement Act, 7 USC 1a(4), and all other goods and articles, except onions as provided in PublicIn trade parlance, non-professional speculators as distinguished from hedgers and professional speculators or traders. Law 85-839 (7 USC 13-1), a 1958 law that banned futuresSee Futures Contract. trading in onions, and all services, rights, and interests in which contracts for future deliveryThe tender and receipt of the actual commodity, the cash value of the commodity, or of a delivery instrument are presently or in the future dealt in.