A raw material or agricultural product, such as soybeans, cotton, or livestock. The CEA gives the CFTC authority to regulate contracts for the sale of a commodity for future delivery. The CFTC also has the authority to regulate US commodities futures markets and their participants. For important information on final CFTC rules setting position limits for physical commodities under the Dodd-Frank Act, and the controversy surrounding those rules, see Practice Note, Summary of the Dodd-Frank Act: Swaps and Derivatives: Commodity Position Limits. For more information on the regulation of commodities under the Dodd-Frank Act, see Legal Update, CFTC Adopts Final Rules Prohibiting Market Manipulation under Dodd-Frank.