Commodity prices are often erratic. This is because there are many factors that affect the demand and supply of a commodity, and thus affect the price too. This article aims to add further clarity to what these factors determining commodity pricing are in order to give everyone a basic understanding of how the market for commodities works.  What is a commodity?  Before delving into what these factors are it’s crucial to establish what a commodity is. Some prime examples of commodities include; Copper Crude oil Wheat  Iron ore Coffee beans Gold In economic terms, you can easily differentiate a commodity by labeling it as an asset whereby if depletion occurred…