Any article exchanged in trade, most commonly used to refer to raw materials and agricultural products.

Bulk goods such as metals, foods, grain, livestock, currency and lumber that are traded on a commodities exchange or a spot market.

Staple agricultural products. Basic raw materials used to make processed foods.

Typically, raw materials such as natural resources and agricultural products that are traded, usually through futures contracts, on an authorized Commodities Exchange. The price of commodities is usually based on supply and demand.

a budget category that includes miscellaneous expendable materials and supplies, such as paper, computer diskettes, etc., costing less than $5,000 on federal grants. Note that computer software is considered contractual services, not commodities.

Items of expenditure (in the Operating Budget) which, after use, are consumed or show a material change in their physical condition, and which are generally of limited value and are characterized by rapid depreciation. Office supplies and motor fuel are examples of commodities.

Articles of a consumable nature which show a material change or significant depreciation with first usage, as well as repair parts and equipment (excluding books other than consumable workbooks and books given to outside parties) having a unit value less than $100.

a budget category that includes miscellaneous expendable materials and supplies, such as paper, printer cartridges, etc. Much equipment on federal grants also falls into this budget category. Note that computer software is considered contractual services, not commodities. See section 9 of ORDA's Sponsored Project Guide.