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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.

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