You are correct!

From our dictionary:

com•mod•i•ty

Pronunciation: (ku-mod'i-tE), [key]
n.,
pl. -ties.

1. an article of trade or commerce, esp. a product as distinguished from a service.
2. something of use, advantage, or value.
3. Stock Exchange.any unprocessed or partially processed good, as grain, fruits, and vegetables, or precious metals.
4. Obs.a quantity of goods.

Yesterday's Word Quiz  |  Tomorrow's Word Quiz
Analogy Quiz
Spelling Bee
Advanced Word Quiz