Commodities Demystified 0071549501.pdf

COMMODITIES DEMYSTIFIED

This page intentionally left blank

COMMODITIES DEMYSTIFIED

SCOTT FRUSH

NewYork Chicago SanFrancisco Lisbon

London Madrid MexicoCity Milan NewDelhi

SanJuan Seoul Singapore Sydney Toronto

of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, with-

out the prior written permission of the publisher.

ISBN: 978-0-07-154951-6

MHID: 0-07-154951-X

The material in this eBook also appears in the print version of this title: ISBN: 978-0-07-154950-9, MHID: 0-07-154950-1.

All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trade-

marked name, we use names in an editorial fashion only, and to the benefit of the trademark owner, with no intention of infringe-

ment of the trademark. Where such designations appear in this book, they have been printed with initial caps.

McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate

training programs. To contact a representative please visit the Contact Us page at www.mhprofessional.com.

This is a copyrighted work and The McGraw-Hill Companies, Inc. (“McGraw-Hill”) and its licensors reserve all rights in and to the

work. Use of this work is subject to these terms. Except as permitted under the Copyright Act of 1976 and the right to store and

retrieve one copy of the work, you may not decompile, disassemble, reverse engineer, reproduce, modify, create derivative works

based upon, transmit, distribute, disseminate, sell, publish or sublicense the work or any part of it without McGraw-Hill’s prior con-

sent. You may use the work for your own noncommercial and personal use; any other use of the work is strictly prohibited. Your right

to use the work may be terminated if you fail to comply with these terms.

THE WORK IS PROVIDED “AS IS.” McGRAW-HILL AND ITS LICENSORS MAKE NO GUARANTEES OR WARRANTIES

AS TO THE ACCURACY, ADEQUACY OR COMPLETENESS OF OR RESULTS TO BE OBTAINED FROM USING THE

WORK, INCLUDING ANY INFORMATION THAT CAN BE ACCESSED THROUGH THE WORK VIA HYPERLINK OR OTH-

ERWISE, AND EXPRESSLY DISCLAIM ANY WARRANTY, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO

IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. McGraw-Hill and its

licensors do not warrant or guarantee that the functions contained in the work will meet your requirements or that its operation will

be uninterrupted or error free. Neither McGraw-Hill nor its licensors shall be liable to you or anyone else for any inaccuracy, error

or omission, regardless of cause, in the work or for any damages resulting therefrom. McGraw-Hill has no responsibility for the con-

tent of any information accessed through the work. Under no circumstances shall McGraw-Hill and/or its licensors be liable for any

indirect, incidental, special, punitive, consequential or similar damages that result from the use of or inability to use the work, even

if any of them has been advised of the possibility of such damages. This limitation of liability shall apply to any claim or cause

whatsoever whether such claim or cause arises in contract, tort or otherwise.