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id="mm-ads-leaderboard-spacer_1-0" class="comp mm-ads-leaderboard-spacer mntl-block js-rollaway-spacer"></div><main id="main" class="loc main" role="main"><iframe id="height-change-listener" role="none" tabindex="-1" src="about:blank" aria-hidden="true"></iframe> <div id="skip-to-content" class="jump-link"></div> <section id="mntl-taxonomysc_1-0" class="comp mntl-taxonomysc"><div id="mntl-taxonomysc-header_1-0" class="comp mntl-taxonomysc-header mntl-block"><div id="mntl-taxonomysc-header__top_1-0" class="comp mntl-taxonomysc-header__top mntl-block"><div id="mntl-taxonomysc-header-group_1-0" class="comp mntl-taxonomysc-header-group mntl-block"><ul id="mntl-breadcrumbs_1-0" class="comp mntl-breadcrumbs breadcrumbs mntl-block" data-tracking-container="true"><li id="mntl-breadcrumbs__item_1-0" class="comp mntl-breadcrumbs__item mntl-block"><a href="https://www.investopedia.com/investing-4427685" rel="nocaes" class="mntl-text-link mntl-breadcrumbs__link" id="mntl-text-link_1-0" data-tracking-container="true" ><span class="link__wrapper">Investing</span></a></li> <li id="mntl-breadcrumbs__item_2-0" class="comp mntl-breadcrumbs__item mntl-block"><a href="https://www.investopedia.com/commodities-4427780" rel="nocaes" class="mntl-text-link mntl-breadcrumbs__link" id="mntl-text-link_2-0" data-tracking-container="true" ><span class="link__wrapper">Commodities</span></a></li></ul> <h1 id="mntl-taxonomysc-heading_1-0" class="comp mntl-taxonomysc-heading mntl-text-block">Commodities</h1></div></div> <div id="mntl-taxonomysc-header__bottom_1-0" class="comp mntl-taxonomysc-header__bottom mntl-block"><div id="mntl-taxonomysc-intro_1-0" class="comp mntl-taxonomysc-intro mntl-sc-page mntl-block" data-sc-sticky-offset="60" data-sc-ad-label-height="24" data-sc-ad-track-spacing="100" data-sc-min-track-height="250" data-sc-max-track-height="600" data-sc-breakpoint="50em" data-sc-load-immediate="1" data-sc-content-positions="[300,600,900,1200,1500,1800,2100]" data-bind-scroll-on-start="true"><p id="mntl-sc-block_1-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Commodities are basic goods interchangeable between producers, such as grains, gold, beef, oil, and natural gas. As an asset class, they are highly speculative and are especially sensitive to economic shifts. </p> <div id="sponsorship-wrapper_1-0" class="comp sponsorship-wrapper mntl-block"></div></div></div></div><div id="mntl-taxonomysc-content_1-0" class="comp mntl-taxonomysc-content mntl-sc-page mntl-block" data-sc-sticky-offset="60" data-sc-ad-label-height="24" data-sc-ad-track-spacing="100" data-sc-min-track-height="250" data-sc-max-track-height="600" data-sc-breakpoint="50em" data-sc-load-immediate="1" data-sc-content-positions="[300,600,900,1200,1500,1800,2100]" data-bind-scroll-on-start="true"><div id="mntl-sc-block_2-0" class="comp mntl-sc-block finance-sc-block-spotlight mntl-sc-block-spotlight mntl-block"><h3 id="mntl-sc-block-spotlight__heading_1-0" class="comp mntl-sc-block-spotlight__heading mntl-text-block">Your Guide to Investing in Commodities</h3> <div id="mntl-sc-block-spotlight__articles_1-0" class="comp mntl-sc-block-spotlight__articles mntl-document-spotlight mntl-document-card-list mntl-card-list mntl-block" data-chunk="36"><a id="mntl-card-list-items_1-0" class="comp mntl-card-list-items mntl-document-card mntl-card card card--no-image" data-doc-id="4227109" data-tax-levels href="https://www.investopedia.com/ask/answers/06/commodityprices.asp" data-ordinal="1" data-cta="Read Now ▸"> <div class="loc card__top"><div class="card__media mntl-image card__media universal-image__container"> <img data-src="https://www.investopedia.com/thmb/g8fa8IGAwg9pQ03mo-SErjAERls=/800x533/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1500486143-e9dccda3bae2440eb88614ace9b78700.jpg" width="800" height="533" data-srcset="https://www.investopedia.com/thmb/clP82YXpY2uBA-U5X1Az4lq0vOE=/150x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1500486143-e9dccda3bae2440eb88614ace9b78700.jpg 150w, https://www.investopedia.com/thmb/ybZDkRKVXapJQAcAuMu5-XxaDSw=/200x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1500486143-e9dccda3bae2440eb88614ace9b78700.jpg 200w, https://www.investopedia.com/thmb/UDvLoVYds0iT-yoSqWo40hFZI0Q=/250x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1500486143-e9dccda3bae2440eb88614ace9b78700.jpg 250w, https://www.investopedia.com/thmb/k2U4ngVdSOm90iVkl3nSawjnNEs=/302x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1500486143-e9dccda3bae2440eb88614ace9b78700.jpg 302w" data-sizes="(min-width: 1280px) 300px, (min-width: 800px) calc(25vw - 1.25rem), (min-width: 640px) calc(33vw - 2rem), calc(50vw - 1.125rem)" alt="Sheet metal production worker checking stock in storage room in factory." class="lazyload card__img card__img universal-image__image" data-expand="300" /> <noscript> <img src="https://www.investopedia.com/thmb/g8fa8IGAwg9pQ03mo-SErjAERls=/800x533/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1500486143-e9dccda3bae2440eb88614ace9b78700.jpg" width="800" height="533" class="img--noscript card__img card__img universal-image__image" srcset="https://www.investopedia.com/thmb/clP82YXpY2uBA-U5X1Az4lq0vOE=/150x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1500486143-e9dccda3bae2440eb88614ace9b78700.jpg 150w, https://www.investopedia.com/thmb/ybZDkRKVXapJQAcAuMu5-XxaDSw=/200x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1500486143-e9dccda3bae2440eb88614ace9b78700.jpg 200w, https://www.investopedia.com/thmb/UDvLoVYds0iT-yoSqWo40hFZI0Q=/250x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1500486143-e9dccda3bae2440eb88614ace9b78700.jpg 250w, https://www.investopedia.com/thmb/k2U4ngVdSOm90iVkl3nSawjnNEs=/302x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1500486143-e9dccda3bae2440eb88614ace9b78700.jpg 302w" sizes="(min-width: 1280px) 300px, (min-width: 800px) calc(25vw - 1.25rem), (min-width: 640px) calc(33vw - 2rem), calc(50vw - 1.125rem)" alt="Sheet metal production worker checking stock in storage room in factory." /> </noscript> </div> </div> <div class="card__content " data-tag="Commodities"> <div class="card__header"></div> <span class="card__title"><span class="card__title-text ">Who Sets the Price of Commodities?</span></span> <div id="article-meta--simple_1-0" class="comp article-meta--simple mntl-block" data-tracking-container="true"><div id="byline--simple_1-0" class="comp byline--simple mntl-block"><div id="byline--simple__pre-author-text_1-0" class="comp byline--simple__pre-author-text mntl-text-block">By</div> <div id="byline--simple__author_1-0" class="comp byline--simple__author mntl-text-block">Kesavan Balasubramaniam</div></div> <div id="displayed-date_1-0" class="comp displayed-date"> <span class="displayed-date__date-text">Updated</span> <span class="displayed-date__date">Apr 23, 2024</span> </div></div> </div> </a> <a id="mntl-card-list-items_2-0" class="comp mntl-card-list-items mntl-document-card mntl-card card card--no-image" data-doc-id="4228402" data-tax-levels href="https://www.investopedia.com/ask/answers/021615/whats-difference-between-commodity-and-product.asp" data-ordinal="2" data-cta="Read Now ▸"> <div class="loc card__top"><div class="card__media mntl-image card__media universal-image__container"> <img data-src="https://www.investopedia.com/thmb/nFJczlDCeQUj1SsslK_r00VvVZc=/800x533/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-671580278-0afe7f196a43485eb3654ba6f4017225.jpg" width="800" height="533" data-srcset="https://www.investopedia.com/thmb/nYM8kH9ui4uDZOJpSYGOM-JhGQM=/150x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-671580278-0afe7f196a43485eb3654ba6f4017225.jpg 150w, https://www.investopedia.com/thmb/lMoXwb1Cq1JDRTDsnDk-7pn194E=/200x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-671580278-0afe7f196a43485eb3654ba6f4017225.jpg 200w, https://www.investopedia.com/thmb/WkCUET38CaR_t_RewqZr5EBbhm4=/250x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-671580278-0afe7f196a43485eb3654ba6f4017225.jpg 250w, https://www.investopedia.com/thmb/g3Z2OGDQu96L2AfN9qX3zsLbS2o=/302x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-671580278-0afe7f196a43485eb3654ba6f4017225.jpg 302w" data-sizes="(min-width: 1280px) 300px, (min-width: 800px) calc(25vw - 1.25rem), (min-width: 640px) calc(33vw - 2rem), calc(50vw - 1.125rem)" alt="Variety of grain seeds in sacks" class="lazyload card__img card__img universal-image__image" data-expand="300" /> <noscript> <img src="https://www.investopedia.com/thmb/nFJczlDCeQUj1SsslK_r00VvVZc=/800x533/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-671580278-0afe7f196a43485eb3654ba6f4017225.jpg" width="800" height="533" class="img--noscript card__img card__img universal-image__image" srcset="https://www.investopedia.com/thmb/nYM8kH9ui4uDZOJpSYGOM-JhGQM=/150x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-671580278-0afe7f196a43485eb3654ba6f4017225.jpg 150w, https://www.investopedia.com/thmb/lMoXwb1Cq1JDRTDsnDk-7pn194E=/200x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-671580278-0afe7f196a43485eb3654ba6f4017225.jpg 200w, https://www.investopedia.com/thmb/WkCUET38CaR_t_RewqZr5EBbhm4=/250x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-671580278-0afe7f196a43485eb3654ba6f4017225.jpg 250w, https://www.investopedia.com/thmb/g3Z2OGDQu96L2AfN9qX3zsLbS2o=/302x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-671580278-0afe7f196a43485eb3654ba6f4017225.jpg 302w" sizes="(min-width: 1280px) 300px, (min-width: 800px) calc(25vw - 1.25rem), (min-width: 640px) calc(33vw - 2rem), calc(50vw - 1.125rem)" alt="Variety of grain seeds in sacks" /> </noscript> </div> </div> <div class="card__content " data-tag="Commodities"> <div class="card__header"></div> <span class="card__title"><span class="card__title-text ">Commodity vs. Product: What's the Difference?</span></span> <div id="article-meta--simple_2-0" class="comp article-meta--simple mntl-block" data-tracking-container="true"><div id="byline--simple_2-0" class="comp byline--simple mntl-block"><div id="byline--simple__pre-author-text_2-0" class="comp byline--simple__pre-author-text mntl-text-block">By</div> <div id="byline--simple__author_2-0" class="comp byline--simple__author mntl-text-block">Nick Lioudis</div></div> <div id="displayed-date_2-0" class="comp displayed-date"> <span class="displayed-date__date-text">Updated</span> <span class="displayed-date__date">Aug 17, 2024</span> </div></div> </div> </a> <a id="mntl-card-list-items_3-0" class="comp mntl-card-list-items mntl-document-card mntl-card card card--no-image" data-doc-id="4571194" data-tax-levels href="https://www.investopedia.com/articles/trading/05/021605.asp" data-ordinal="3" data-cta="Read Now ▸"> <div class="loc card__top"><div class="card__media mntl-image card__media universal-image__container"> <img data-src="https://www.investopedia.com/thmb/65znKA5C2lTuITmWRsCEcL2NAsI=/800x533/filters:no_upscale():max_bytes(150000):strip_icc()/Commodities-The-Portfolio-HedgeV3-17a96720488345ad81eaf3029a674557.png" width="800" height="533" data-srcset="https://www.investopedia.com/thmb/YvLdW-dTvAAB57UZmyb1SKSlDTI=/150x0/filters:no_upscale():max_bytes(150000):strip_icc()/Commodities-The-Portfolio-HedgeV3-17a96720488345ad81eaf3029a674557.png 150w, https://www.investopedia.com/thmb/upbPYtlh8tl092JDYW3XPUPKAYM=/200x0/filters:no_upscale():max_bytes(150000):strip_icc()/Commodities-The-Portfolio-HedgeV3-17a96720488345ad81eaf3029a674557.png 200w, https://www.investopedia.com/thmb/6SPQn8YRPmZbmFiq87k98hDzrc0=/250x0/filters:no_upscale():max_bytes(150000):strip_icc()/Commodities-The-Portfolio-HedgeV3-17a96720488345ad81eaf3029a674557.png 250w, https://www.investopedia.com/thmb/5A-nPo0WA7aZXBCcFmbwrgSjzxs=/302x0/filters:no_upscale():max_bytes(150000):strip_icc()/Commodities-The-Portfolio-HedgeV3-17a96720488345ad81eaf3029a674557.png 302w" data-sizes="(min-width: 1280px) 300px, (min-width: 800px) calc(25vw - 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1.25rem), (min-width: 640px) calc(33vw - 2rem), calc(50vw - 1.125rem)" alt="Irrigation System" /> </noscript> </div> </div> <div class="card__content " data-tag="Commodities"> <div class="card__header"></div> <span class="card__title"><span class="card__title-text ">Water Investments: How to Invest in Water</span></span> <div id="article-meta--simple_5-0" class="comp article-meta--simple mntl-block" data-tracking-container="true"><div id="byline--simple_5-0" class="comp byline--simple mntl-block"><div id="byline--simple__pre-author-text_5-0" class="comp byline--simple__pre-author-text mntl-text-block">By</div> <div id="byline--simple__author_5-0" class="comp byline--simple__author mntl-text-block">James McWhinney</div></div> <div id="displayed-date_5-0" class="comp displayed-date"> <span class="displayed-date__date-text">Updated</span> <span class="displayed-date__date">Aug 02, 2023</span> </div></div> </div> </a></div> <div id="leaderboard2_1-0" class="comp leaderboard2 leaderboard--lazy leaderboard mm-ads-flexible-leaderboard mm-ads-flexible-ad mm-ads-gpt-adunit has-right-label visible-overflow js-lazy-ad gpt leaderboard dynamic"> <div id="leaderboard-flex-2" class="wrapper" data-timed-refresh="30000" data-type="leaderboard" data-pos="btf1" data-priority="3" data-sizes="[[728, 90], [970,90], [970, 250]]" data-rtb="true" data-wait-for-third-party="false" data-targeting="{}"></div> </div></div> <div id="mntl-sc-block_3-0" class="comp mntl-sc-block mntl-sc-block-faq mntl-block"><span class="heading-toc" id="toc-frequently-asked-questions-86954d40-cd30-4a0e-97c5-2318d5130a6d"></span> <div id="mntl-sc-block-faq__title_1-0" class="comp mntl-sc-block-faq__title mntl-text-block">Frequently Asked Questions</div> <ul id="mntl-sc-block-faq__content_1-0" class="comp mntl-sc-block-faq__content mntl-accordion js-accordion"> <li class="accordion__item js-accordion-item " data-ordinal="1"> <div tabindex="0" class="accordion__header js-accordion-trigger" id="mntl-accordion__item_1-0-section-0"> <svg class="icon icon-arrow-down accordion__icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#icon-arrow-down" href="#icon-arrow-down"></use> </svg> <span class="accordion__title">What is a commodity?</span> </div> <div class="accordion__body"> <div id="mntl-accordion__content_1-0" class="comp mntl-accordion__content"> <div class="faq-accordion__item-answer"> <p>A commodity is a basic good that is interchangeable with other goods of the same type. They are often used as inputs in the production of other goods or services and while the quality of a given commodity may differ slightly, it is essentially uniform across producers.</p> </div> <div class="faq-accordion__feature-link"> <span>Learn More</span> <span class="loc feature-link"><a href="https://www.investopedia.com/terms/c/commodity.asp" rel="nocaes" class="accordion-content__feature-link mntl-text-link " id="accordion-content__feature-link_1-0" data-tracking-container="true" ><span class="link__wrapper">Commodity Definition</span></a> </span> </div> </div> </div> </li> <li class="accordion__item js-accordion-item " data-ordinal="2"> <div tabindex="0" class="accordion__header js-accordion-trigger" id="mntl-accordion__item_2-0-section-1"> <svg class="icon icon-arrow-down accordion__icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#icon-arrow-down" href="#icon-arrow-down"></use> </svg> <span class="accordion__title">What commodities do well in inflation?</span> </div> <div class="accordion__body"> <div id="mntl-accordion__content_2-0" class="comp mntl-accordion__content"> <div class="faq-accordion__item-answer"> <p>Commodities—precious metals, agriculture goods, and oil & gas—have often been positioned as hedges against inflation. However, commodities tend to respond to changes in the dollar's relative strength in international markets rather than domestic inflation pressures.</p> </div> <div class="faq-accordion__feature-link"> <span>Learn More</span> <span class="loc feature-link"><a href="https://www.investopedia.com/articles/investing/020816/importance-commodity-pricing-understanding-inflation.asp" rel="nocaes" class="accordion-content__feature-link mntl-text-link " id="accordion-content__feature-link_2-0" data-tracking-container="true" ><span class="link__wrapper">The Correlation of Commodities to Inflation</span></a> </span> </div> </div> </div> </li> <li class="accordion__item js-accordion-item " data-ordinal="3"> <div tabindex="0" class="accordion__header js-accordion-trigger" id="mntl-accordion__item_3-0-section-2"> <svg class="icon icon-arrow-down accordion__icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#icon-arrow-down" href="#icon-arrow-down"></use> </svg> <span class="accordion__title">How do commodities markets work?</span> </div> <div class="accordion__body"> <div id="mntl-accordion__content_3-0" class="comp mntl-accordion__content"> <div class="faq-accordion__item-answer"> <p>Commodities work differently in spot markets and derivatives markets. In spot markets, the buyers and sellers exchange cash for immediate delivery of the commodity. In derivatives markets, the buyers and sellers exchange cash for the right to future delivery of that commodity. Derivatives holders will often roll over or close out their positions before delivery can happen since they aren’t necessarily looking to hold the commodity, but just speculate on its value.</p> </div> <div class="faq-accordion__feature-link"> <span>Learn More</span> <span class="loc feature-link"><a href="https://www.investopedia.com/terms/c/commodity-market.asp" rel="nocaes" class="accordion-content__feature-link mntl-text-link " id="accordion-content__feature-link_3-0" data-tracking-container="true" ><span class="link__wrapper">Commodity Market Definition</span></a> </span> </div> </div> </div> </li> <li class="accordion__item js-accordion-item " data-ordinal="4"> <div tabindex="0" class="accordion__header js-accordion-trigger" id="mntl-accordion__item_4-0-section-3"> <svg class="icon icon-arrow-down accordion__icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#icon-arrow-down" href="#icon-arrow-down"></use> </svg> <span class="accordion__title">What raw materials do auto manufacturers use?</span> </div> <div class="accordion__body"> <div id="mntl-accordion__content_4-0" class="comp mntl-accordion__content"> <div class="faq-accordion__item-answer"> <p>The automobile industry is one of the largest consumers of the world's raw materials. Some of the most common materials that industry relies on include aluminum, glass, and the iron ore to make steel, as well as petroleum products used to make plastics, rubber, and other special fibers.</p> </div> <div class="faq-accordion__feature-link"> <span>Learn More</span> <span class="loc feature-link"><a href="https://www.investopedia.com/ask/answers/062315/what-types-raw-materials-would-be-used-auto-manufacturer.asp" rel="nocaes" class="accordion-content__feature-link mntl-text-link " id="accordion-content__feature-link_4-0" data-tracking-container="true" ><span class="link__wrapper">What Raw Materials do Auto Manufacturers Use?</span></a> </span> </div> </div> </div> </li> </ul></div> <div id="mntl-sc-block_4-0" class="comp mntl-sc-block mntl-sc-block-keyterms mntl-block"><h3 id="mntl-sc-block-keyterms__title_1-0" class="comp mntl-sc-block-keyterms__title mntl-text-block">Key Terms</h3> <div id="mntl-sc-block-keyterms__nav_1-0" class="comp mntl-sc-block-keyterms__nav mntl-block" data-tracking-container="true"><button id="mntl-sc-block-keyterms__nav-item_1-0" class="comp mntl-sc-block-keyterms__nav-item mntl-button is-active" data-index="0"> Gross Processing Margin (GPM) </button> <button id="mntl-sc-block-keyterms__nav-item_2-0" class="comp mntl-sc-block-keyterms__nav-item mntl-button" data-index="1"> Mineral Rights </button> <button id="mntl-sc-block-keyterms__nav-item_3-0" class="comp mntl-sc-block-keyterms__nav-item mntl-button" data-index="2"> Commodities Hoarding </button> <button id="mntl-sc-block-keyterms__nav-item_4-0" class="comp mntl-sc-block-keyterms__nav-item mntl-button" data-index="3"> Hotellings Theory </button> <button id="mntl-sc-block-keyterms__nav-item_5-0" class="comp mntl-sc-block-keyterms__nav-item mntl-button" data-index="4"> Commodity ETF </button> <button id="mntl-sc-block-keyterms__nav-item_6-0" class="comp mntl-sc-block-keyterms__nav-item mntl-button" data-index="5"> S&P GSCI </button></div> <div id="mntl-sc-block-keyterms__carousel_1-0" class="comp mntl-sc-block-keyterms__carousel mntl-carousel--inline mntl-carousel mntl-carousel--inline mntl-carousel" data-use-placeholders="false" data-tracking-container="true" data-scroll-by-page="false" data-update-arrows-when-scrolling="false"> <div class="mntl-carousel__wrapper"> <div class="mntl-carousel__arrow mntl-carousel__arrow--left " data-click-tracked="true" role="button" aria-label="Present previous article"> <svg class="icon mntl-carousel__arrow-icon " > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#mntl-carousel__arrow-icon" href="#mntl-carousel__arrow-icon"></use> </svg> </div> <ul class="loc carousel-items mntl-carousel__items"><li id="mntl-carousel__item_1-0" class="comp mntl-carousel__item mntl-block is-active" data-ordinal="0" data-contain-tooltips="true"><div id="mntl-carousel__card_1-0" class="comp mntl-carousel__card mntl-block carousel-card"><div id="carousel-card__title_1-0" class="comp carousel-card__title mntl-text-block">Gross Processing Margin (GPM)</div> <div id="carousel-card__body_1-0" class="comp carousel-card__body mntl-text-block"><p>The spread between the cost of a raw commodity and the income it generates once sold as a finished product is known as the gross processing margin. It is affected by supply and demand.</p></div> <div id="carousel-card__link-wrapper_1-0" class="comp carousel-card__link-wrapper mntl-block"><a href="https://www.investopedia.com/terms/g/gpm.asp" rel="nocaes" class="carousel-card__link mntl-text-link " id="carousel-card__link_1-0" data-tracking-container="true" ><span class="link__wrapper">Learn More</span></a></div></div></li> <li id="mntl-carousel__item_2-0" class="comp mntl-carousel__item mntl-block" data-ordinal="1" data-contain-tooltips="true"><div id="mntl-carousel__card_2-0" class="comp mntl-carousel__card mntl-block carousel-card"><div id="carousel-card__title_2-0" class="comp carousel-card__title mntl-text-block">Mineral Rights</div> <div id="carousel-card__body_2-0" class="comp carousel-card__body mntl-text-block"><p>In the U.S., mineral rights are legally distinct from surface rights. Mineral rights are the ownership rights to underground resources such as fossil fuels, metals and ores, and mineable rocks such as limestone and salt.</p></div> <div id="carousel-card__link-wrapper_2-0" class="comp carousel-card__link-wrapper mntl-block"><a href="https://www.investopedia.com/terms/m/mineral-rights.asp" rel="nocaes" class="carousel-card__link mntl-text-link " id="carousel-card__link_2-0" data-tracking-container="true" ><span class="link__wrapper">Learn More</span></a></div></div></li> <li id="mntl-carousel__item_3-0" class="comp mntl-carousel__item mntl-block" data-ordinal="2" data-contain-tooltips="true"><div id="mntl-carousel__card_3-0" class="comp mntl-carousel__card mntl-block carousel-card"><div id="carousel-card__title_3-0" class="comp carousel-card__title mntl-text-block">Commodities Hoarding</div> <div id="carousel-card__body_3-0" class="comp carousel-card__body mntl-text-block"><p>While not exclusively used in the context of commodities, “hoarding” often refers to the purchase and warehousing of large quantities of a commodity by a speculator with the intent of benefiting from future price increases.</p></div> <div id="carousel-card__link-wrapper_3-0" class="comp carousel-card__link-wrapper mntl-block"><a href="https://www.investopedia.com/terms/h/hoarding.asp" rel="nocaes" class="carousel-card__link mntl-text-link " id="carousel-card__link_3-0" data-tracking-container="true" ><span class="link__wrapper">Learn More</span></a></div></div></li> <li id="mntl-carousel__item_4-0" class="comp mntl-carousel__item mntl-block" data-ordinal="3" data-contain-tooltips="true"><div id="mntl-carousel__card_4-0" class="comp mntl-carousel__card mntl-block carousel-card"><div id="carousel-card__title_4-0" class="comp carousel-card__title mntl-text-block">Hotellings Theory</div> <div id="carousel-card__body_4-0" class="comp carousel-card__body mntl-text-block"><p>Hotelling's Theory defines the price or yield at which the owner of a nonrenewable resource will extract it and sell it, rather than leave it and wait. Specifically, it suggests that that price will be above that which safe interest-paying securities such as U.S. Treasury Bonds will pay.</p></div> <div id="carousel-card__link-wrapper_4-0" class="comp carousel-card__link-wrapper mntl-block"><a href="https://www.investopedia.com/terms/h/hotellings-theory.asp" rel="nocaes" class="carousel-card__link mntl-text-link " id="carousel-card__link_4-0" data-tracking-container="true" ><span class="link__wrapper">Learn More</span></a></div></div></li> <li id="mntl-carousel__item_5-0" class="comp mntl-carousel__item mntl-block" data-ordinal="4" data-contain-tooltips="true"><div id="mntl-carousel__card_5-0" class="comp mntl-carousel__card mntl-block carousel-card"><div id="carousel-card__title_5-0" class="comp carousel-card__title mntl-text-block">Commodity ETF</div> <div id="carousel-card__body_5-0" class="comp carousel-card__body mntl-text-block"><p>A commodity exchange traded fund (ETF) tracks the prices of a commodity or that commodity's corresponding index. There are commodity ETFs that can be used to gain exposure to many popular types of commodities including gold, silver, oil, and natural gas.</p></div> <div id="carousel-card__link-wrapper_5-0" class="comp carousel-card__link-wrapper mntl-block"><a href="https://www.investopedia.com/terms/c/commodity-etf.asp" rel="nocaes" class="carousel-card__link mntl-text-link " id="carousel-card__link_5-0" data-tracking-container="true" ><span class="link__wrapper">Learn More</span></a></div></div></li> <li id="mntl-carousel__item_6-0" class="comp mntl-carousel__item mntl-block" data-ordinal="5" data-contain-tooltips="true"><div id="mntl-carousel__card_6-0" class="comp mntl-carousel__card mntl-block carousel-card"><div id="carousel-card__title_6-0" class="comp carousel-card__title mntl-text-block">S&P GSCI</div> <div id="carousel-card__body_6-0" class="comp carousel-card__body mntl-text-block"><p>The S&P GSCI is a benchmark commodities index that tracks the performance of the global commodities market and is made up of 24 exchange-traded futures contracts that cover commodities spanning five sectors.</p></div> <div id="carousel-card__link-wrapper_6-0" class="comp carousel-card__link-wrapper mntl-block"><a href="https://www.investopedia.com/terms/g/gsci.asp" rel="nocaes" class="carousel-card__link mntl-text-link " id="carousel-card__link_6-0" data-tracking-container="true" ><span class="link__wrapper">Learn More</span></a></div></div></li> </ul> <div class="mntl-carousel__arrow mntl-carousel__arrow--right " data-click-tracked="true" role="button" aria-label="Present next article"> <svg class="icon mntl-carousel__arrow-icon " > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#mntl-carousel__arrow-icon" href="#mntl-carousel__arrow-icon"></use> </svg> </div> </div> </div></div></div><div class="loc fixedContent"><div id="mntl-document-spotlight_1-0" class="comp mntl-document-spotlight mntl-document-card-list mntl-card-list mntl-block" data-chunk="36"><a id="mntl-card-list-items_6-0" class="comp mntl-card-list-items mntl-document-card mntl-card card card--no-image" data-doc-id="8777937" data-tax-levels href="https://www.investopedia.com/greenland-s-billions-in-rare-earth-minerals-8777937" data-ordinal="1" data-cta="Read Now ▸"> <div class="loc card__top"><div class="card__media mntl-image card__media universal-image__container"> <div class="img-placeholder" style="padding-bottom:66.6%;"> <img data-src="https://www.investopedia.com/thmb/WsSbb6pqxSdyCDs_S6bytLIsrNU=/800x533/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1143551617-07d9e26983974fcdbea7d27ba4e320e5.jpg" width="800" height="533" data-srcset="https://www.investopedia.com/thmb/pJ0E4NRq9KsBuescwlQJWkUl5Uw=/150x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1143551617-07d9e26983974fcdbea7d27ba4e320e5.jpg 150w, https://www.investopedia.com/thmb/4ziD5nTos0THEiL_-UiMYde2n2c=/200x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1143551617-07d9e26983974fcdbea7d27ba4e320e5.jpg 200w, https://www.investopedia.com/thmb/v8zl2wbETwTf40Vb7XVj7Dq2RfE=/250x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1143551617-07d9e26983974fcdbea7d27ba4e320e5.jpg 250w, https://www.investopedia.com/thmb/tWALrpIsw5nKVMQhh6ovdDKLFRs=/302x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1143551617-07d9e26983974fcdbea7d27ba4e320e5.jpg 302w" data-sizes="(min-width: 1280px) 300px, (min-width: 800px) calc(25vw - 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1.25rem), (min-width: 640px) calc(33vw - 2rem), calc(50vw - 1.125rem)" alt="Disko Bay in Greenland showing some houses above the frozen waters" /> </noscript> </div> </div> </div> <div class="card__content " data-tag="Commodities"> <div class="card__header"></div> <span class="card__title"><span class="card__title-text ">Inside the Race for Greenland's Billions in Rare Earth Minerals</span></span> <div id="article-meta--simple_6-0" class="comp article-meta--simple mntl-block" data-tracking-container="true"><div id="byline--simple_6-0" class="comp byline--simple mntl-block"><div id="byline--simple__pre-author-text_6-0" class="comp byline--simple__pre-author-text mntl-text-block">By</div> <div id="byline--simple__author_6-0" class="comp byline--simple__author mntl-text-block">Peter Gratton</div></div> <div id="displayed-date_6-0" class="comp displayed-date"> <span class="displayed-date__date-text">Published</span> <span class="displayed-date__date">Jan 28, 2025</span> </div></div> </div> </a> <a id="mntl-card-list-items_7-0" class="comp mntl-card-list-items mntl-document-card mntl-card card card--no-image" data-doc-id="8772970" data-tax-levels href="https://www.investopedia.com/mexico-s-tequila-lake-8772970" data-ordinal="2" data-cta="Read Now ▸"> <div class="loc card__top"><div class="card__media mntl-image card__media universal-image__container"> <div class="img-placeholder" style="padding-bottom:66.6%;"> <img data-src="https://www.investopedia.com/thmb/N-7pArqbLyc8rWu8VQQrb1MQXus=/800x533/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1392276212-1339054ed9ed4ccfb98c173baa83e3c1.jpg" width="800" height="533" data-srcset="https://www.investopedia.com/thmb/1HaKz_BKevNeYw40mmbaZEfpFk8=/150x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1392276212-1339054ed9ed4ccfb98c173baa83e3c1.jpg 150w, https://www.investopedia.com/thmb/Jh-Bx3We0ChPV5Um5cazA_HPpBo=/200x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1392276212-1339054ed9ed4ccfb98c173baa83e3c1.jpg 200w, https://www.investopedia.com/thmb/tXafHbUbm53CbWe-LmVKUjwco3g=/250x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1392276212-1339054ed9ed4ccfb98c173baa83e3c1.jpg 250w, https://www.investopedia.com/thmb/z-f4mpYMbj7oENdByJsza3oyHj0=/302x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1392276212-1339054ed9ed4ccfb98c173baa83e3c1.jpg 302w" data-sizes="(min-width: 1280px) 300px, (min-width: 800px) calc(25vw - 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1.25rem), (min-width: 640px) calc(33vw - 2rem), calc(50vw - 1.125rem)" alt="Investment Theme Stockmarket and Finance Business Analysis Stockmarket With Digital Tablet" class="lazyload card__img card__img universal-image__image" data-expand="300" /> <noscript> <img src="https://www.investopedia.com/thmb/DIWjJKd_ODsnDLtdd3ZqW84IYH4=/800x533/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1064145406-ad2bce35f8554b45a58bfdb3dbd5f7c8.jpg" width="800" height="533" class="img--noscript card__img card__img universal-image__image" srcset="https://www.investopedia.com/thmb/pj0lisJ0BW8oQuu4yPqcnPONCjE=/150x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1064145406-ad2bce35f8554b45a58bfdb3dbd5f7c8.jpg 150w, https://www.investopedia.com/thmb/3b8qkZ3BS4VwT1InXnWAuhKHS5U=/200x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1064145406-ad2bce35f8554b45a58bfdb3dbd5f7c8.jpg 200w, https://www.investopedia.com/thmb/NEBNK83UFkybL5hm6Ye5ppgJsVA=/250x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1064145406-ad2bce35f8554b45a58bfdb3dbd5f7c8.jpg 250w, https://www.investopedia.com/thmb/45bQy82LuKw47GKR2HulAeQUROE=/302x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1064145406-ad2bce35f8554b45a58bfdb3dbd5f7c8.jpg 302w" sizes="(min-width: 1280px) 300px, (min-width: 800px) calc(25vw - 1.25rem), (min-width: 640px) calc(33vw - 2rem), calc(50vw - 1.125rem)" alt="Investment Theme Stockmarket and Finance Business Analysis Stockmarket With Digital Tablet" /> </noscript> </div> </div> <div class="card__content " data-tag="Commodities"> <div class="card__header"></div> <span class="card__title"><span class="card__title-text ">Natural Resource Investing </span></span> <div id="article-meta--simple_62-0" class="comp article-meta--simple mntl-block" data-tracking-container="true"><div id="byline--simple_62-0" class="comp byline--simple mntl-block"><div id="byline--simple__pre-author-text_62-0" class="comp byline--simple__pre-author-text mntl-text-block">By</div> <div id="byline--simple__author_62-0" class="comp byline--simple__author mntl-text-block">Andrew Beattie</div></div> <div id="displayed-date_62-0" class="comp displayed-date"> <span class="displayed-date__date-text">Updated</span> <span class="displayed-date__date">Jan 25, 2022</span> </div></div> </div> </a> <a id="mntl-card-list-items_63-0" class="comp mntl-card-list-items mntl-document-card mntl-card card card--no-image" data-doc-id="4187387" data-tax-levels href="https://www.investopedia.com/terms/u/ung.asp" data-ordinal="53" data-cta="Read Now ▸"> <div class="loc card__top"><div class="card__media mntl-image card__media universal-image__container"> <img data-src="https://www.investopedia.com/thmb/kDVJj3vJFBg1sHFEShe2LP-NfLA=/800x533/filters:no_upscale():max_bytes(150000):strip_icc()/USNaturalGasFund-5e05223dddc0470dbe6c7c9a026b2256.jpg" width="800" height="533" data-srcset="https://www.investopedia.com/thmb/Wd2v869YIXMkwG-UUG1ZKfs-03s=/150x0/filters:no_upscale():max_bytes(150000):strip_icc()/USNaturalGasFund-5e05223dddc0470dbe6c7c9a026b2256.jpg 150w, https://www.investopedia.com/thmb/jkr5--28Ybly7so9GDuDt68iKZw=/200x0/filters:no_upscale():max_bytes(150000):strip_icc()/USNaturalGasFund-5e05223dddc0470dbe6c7c9a026b2256.jpg 200w, https://www.investopedia.com/thmb/_mrD7uKVkrtEDrfDj18AEuWgskM=/250x0/filters:no_upscale():max_bytes(150000):strip_icc()/USNaturalGasFund-5e05223dddc0470dbe6c7c9a026b2256.jpg 250w, https://www.investopedia.com/thmb/FM3q0ITN4JOU50ausUZU53XnYtc=/302x0/filters:no_upscale():max_bytes(150000):strip_icc()/USNaturalGasFund-5e05223dddc0470dbe6c7c9a026b2256.jpg 302w" data-sizes="(min-width: 1280px) 300px, (min-width: 800px) calc(25vw - 1.25rem), (min-width: 640px) calc(33vw - 2rem), calc(50vw - 1.125rem)" alt="A natural gas production facility is silhouetted against the rising sun as a worker turns a valve on top of a large tank." class="lazyload card__img card__img universal-image__image" data-expand="300" /> <noscript> <img src="https://www.investopedia.com/thmb/kDVJj3vJFBg1sHFEShe2LP-NfLA=/800x533/filters:no_upscale():max_bytes(150000):strip_icc()/USNaturalGasFund-5e05223dddc0470dbe6c7c9a026b2256.jpg" width="800" height="533" class="img--noscript card__img card__img universal-image__image" srcset="https://www.investopedia.com/thmb/Wd2v869YIXMkwG-UUG1ZKfs-03s=/150x0/filters:no_upscale():max_bytes(150000):strip_icc()/USNaturalGasFund-5e05223dddc0470dbe6c7c9a026b2256.jpg 150w, https://www.investopedia.com/thmb/jkr5--28Ybly7so9GDuDt68iKZw=/200x0/filters:no_upscale():max_bytes(150000):strip_icc()/USNaturalGasFund-5e05223dddc0470dbe6c7c9a026b2256.jpg 200w, https://www.investopedia.com/thmb/_mrD7uKVkrtEDrfDj18AEuWgskM=/250x0/filters:no_upscale():max_bytes(150000):strip_icc()/USNaturalGasFund-5e05223dddc0470dbe6c7c9a026b2256.jpg 250w, https://www.investopedia.com/thmb/FM3q0ITN4JOU50ausUZU53XnYtc=/302x0/filters:no_upscale():max_bytes(150000):strip_icc()/USNaturalGasFund-5e05223dddc0470dbe6c7c9a026b2256.jpg 302w" sizes="(min-width: 1280px) 300px, (min-width: 800px) calc(25vw - 1.25rem), (min-width: 640px) calc(33vw - 2rem), calc(50vw - 1.125rem)" alt="A natural gas production facility is silhouetted against the rising sun as a worker turns a valve on top of a large tank." /> </noscript> </div> </div> <div class="card__content " data-tag="Commodities"> <div class="card__header"></div> <span class="card__title"><span class="card__title-text ">United States Natural Gas Fund (UNG): Meaning, How it Works</span></span> <div id="article-meta--simple_63-0" class="comp article-meta--simple mntl-block" data-tracking-container="true"><div id="byline--simple_63-0" class="comp byline--simple mntl-block"><div id="byline--simple__pre-author-text_63-0" class="comp byline--simple__pre-author-text mntl-text-block">By</div> <div id="byline--simple__author_63-0" class="comp byline--simple__author mntl-text-block">James Chen</div></div> <div id="displayed-date_63-0" class="comp displayed-date"> <span class="displayed-date__date-text">Updated</span> <span class="displayed-date__date">Jun 19, 2022</span> </div></div> </div> </a> <a id="mntl-card-list-items_64-0" class="comp mntl-card-list-items mntl-document-card mntl-card card card--no-image" data-doc-id="4190760" data-tax-levels href="https://www.investopedia.com/terms/p/proven-reserves.asp" data-ordinal="54" data-cta="Read Now ▸"> <div class="loc card__top"><div class="card__media mntl-image card__media universal-image__container"> <img data-src="https://www.investopedia.com/thmb/jwBM9Q2mBre6LVBeHihN9tK_cCI=/800x533/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1214001126-301eefa918ad4b4d929b185f7918de66.jpg" width="800" height="533" data-srcset="https://www.investopedia.com/thmb/AvK7SfiMQabmyw40nMC4EKu-u0M=/150x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1214001126-301eefa918ad4b4d929b185f7918de66.jpg 150w, https://www.investopedia.com/thmb/IrGeO9pajRYGgBvkDBVjyxmk1xQ=/200x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1214001126-301eefa918ad4b4d929b185f7918de66.jpg 200w, https://www.investopedia.com/thmb/YXCZkqHVmLAjj-NMJdKEQTKScWw=/250x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1214001126-301eefa918ad4b4d929b185f7918de66.jpg 250w, https://www.investopedia.com/thmb/KcgJq16r8ivjK694c9Z9nLmdmGw=/302x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1214001126-301eefa918ad4b4d929b185f7918de66.jpg 302w" data-sizes="(min-width: 1280px) 300px, (min-width: 800px) calc(25vw - 1.25rem), (min-width: 640px) calc(33vw - 2rem), calc(50vw - 1.125rem)" alt="Several oil pumps extracting oil from the ground" class="lazyload card__img card__img universal-image__image" data-expand="300" /> <noscript> <img src="https://www.investopedia.com/thmb/jwBM9Q2mBre6LVBeHihN9tK_cCI=/800x533/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1214001126-301eefa918ad4b4d929b185f7918de66.jpg" width="800" height="533" class="img--noscript card__img card__img universal-image__image" srcset="https://www.investopedia.com/thmb/AvK7SfiMQabmyw40nMC4EKu-u0M=/150x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1214001126-301eefa918ad4b4d929b185f7918de66.jpg 150w, https://www.investopedia.com/thmb/IrGeO9pajRYGgBvkDBVjyxmk1xQ=/200x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1214001126-301eefa918ad4b4d929b185f7918de66.jpg 200w, https://www.investopedia.com/thmb/YXCZkqHVmLAjj-NMJdKEQTKScWw=/250x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1214001126-301eefa918ad4b4d929b185f7918de66.jpg 250w, https://www.investopedia.com/thmb/KcgJq16r8ivjK694c9Z9nLmdmGw=/302x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1214001126-301eefa918ad4b4d929b185f7918de66.jpg 302w" sizes="(min-width: 1280px) 300px, (min-width: 800px) calc(25vw - 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