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Commodity market
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===Contracts in the commodity market=== A [[Spot contract]] is an agreement where delivery and payment either takes place immediately, or with a short lag. Physical trading normally involves a visual inspection and is carried out in physical [[Market (place)|market]]s such as a [[Farmers' market|farmers market]]. [[Derivatives market]]s, on the other hand, require the existence of agreed standards so that trades can be made without visual inspection.
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