On July 21, 2010, the U.S. Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act, which amends the definition of agricultural raw materials. The operational definition used by Dodd-Frank includes « all other goods that are or have been or come from living organisms, including plant, animal and aquatic organisms, generally functional, within their respective classes and mainly used for food, shelter, animal feed or natural fibre ». Three other categories were explained and listed.  Agricultural futures are the oldest used in the United States for more than 170 years.  Modern term agreements began in Chicago in the 1840s with the appearance of grain elevators.  Chicago, located in the center, has become a crossroads between midwestern peasants and East Coast consumer centers. The United States has completed recent efforts to renegotiate the ICA and the text of the Seventh International Coffee Agreement (ICA 2007) was adopted by the International Coffee Council on September 28, 2007. The new ICA aims to strengthen the OIC`s role as a forum for government consultation, increase its contribution to meaningful market information and market transparency, and ensure that the organization plays a unique role in developing innovative and effective capabilities in the coffee sector. Features of the new agreement include a first advisory forum on coffee-sector finance to promote the development and dissemination of innovation and best practices enabling coffee producers to better manage the financial aspects of intrinsic volatility and risks related to competitive and developing markets. Other notable changes include expanding the Organization`s work in providing relevant statistical and market information and strengthening efforts to develop, review and implement capacity-building projects that are particularly important for smallholder farmers in developing countries` major trading partners.
Raw materials can be invested in various ways. An investor can buy shares from companies whose activities depend on commodity prices or buy investment funds, index funds or EXCHANGE-traded funds (ETFs) focused on commodity-related companies. The most direct way to invest in commodities is to buy in a futures contract. A futures contract requires the holder to buy or sell goods at a predetermined price on a delivery date in the future. Robust growth in emerging markets (emerging countries such as Brazil, Russia, India and China) from the 1990s ons « pushed commodity markets into a super cycle ». The size and diversity of commodity markets have increased internationally, and pension funds and sovereign wealth funds have begun to allocate more capital to commodities in order to diversify into an asset class less engaged in currency devaluations.  On traditional stock markets such as the New York Stock Exchange (NYSE), most trading activities in trading mines took place through personal interactions between brokers and traders as part of an open trade of outcry.  In 1992, the fix (Financial Information eXchange) protocol was introduced, which allows for the real-time international exchange of information on market transactions. . . .