commodity

noun

com·​mod·​i·​ty kə-ˈmä-də-tē 

plural commodities

1

: an economic good: such as

a

: a product of agriculture or mining

agricultural commodities like grain and corn

b

: an article of commerce especially when delivered for shipment

reported the damaged commodities to officials

c

: a mass-produced unspecialized product

commodity chemicals

commodity memory chips

2

a

: something useful or valued

that valuable commodity, patience

also : thing, entity

b

: convenience, advantage

… the many commodities incidental to the life of a public office …

—Charles Lamb

3

: a good or service whose wide availability typically leads to smaller profit margins and diminishes the importance of factors (such as brand name) other than price

4

: one that is subject to ready exchange or exploitation within a market

… stars as individuals and as commodities of the film industry.

—Film Quarterly

5

obsolete : quantity, lot

Synonyms

• object
• entity
• substance
• reality

Examples of commodity in a Sentence

agricultural commodities like grain and corn

Oil is a commodity in high demand.

Patience is a rare commodity.

Recent Examples on the Web

Fitting it all in With the two toddlers, as well as a husband who is also a student at SCC with his own online businesses, time is a precious commodity. —Greg Mellen, Oc Register, 26 Sep. 2025

Jon Devine, senior economist at Cotton Incorporated, keeps key stakeholders in the textile and investment communities informed via timely market analyses of commodity economics and factors influencing their stability. —Sj Guest Editorial, Sourcing Journal, 26 Sep. 2025

Stablecoins are a type of cryptocurrency designed to provide users with greater price stability by pegging to an existing fiat currency — such as the dollar or euro — or commodity. —Hugh Leask, CNBC, 25 Sep. 2025

In recent months, farmers have cited depressed commodity prices, high input costs and a weak export market as pressing economic stressors going into the harvest season. —Cristina Larue, Arkansas Online, 24 Sep. 2025

Word History

Etymology

Middle English commoditee, from Anglo-French, from Latin commoditat-, commoditas, from commodus

First Known Use

15th century, in the meaning defined at sense 1

Phrases Containing commodity

• hot commodity

Rhymes for commodity

• oddity

Kids Definition

commodity

noun

com·​mod·​i·​ty kə-ˈmäd-ət-ē 

plural commodities

1

: a product of agriculture or mining

2

: an article that is bought and sold in commerce

Legal Definition

commodity

noun

com·​mod·​i·​ty kə-ˈmä-də-tē 

plural commodities

: a class of economic goods

especially : an item of merchandise (as soybeans) whose price is the basis of futures trading