a market in which Commodities are purchased and sold for cash and delivered “on the spot” or very soon after the sale. Also called a “cash market.” A sale on the Spot Market is known as a “spot sale.” A company sells Commodities on a “contracted” basis rather than a “spot” basis if it enters into a contract to sell the Commodities over a period of time at a specified price or pursuant to a specified price generating formula.
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