Commodities represent today the fastest growing markets worldwide. Historically misunderstood, generally under- studied and under- valued, certainly under- represented in the literature, commodities are suddenly receiving the attention they deserve. Bringing together some of the best authors in the field, this book focuses on the risk management issues associated with both soft and hard commodities: energy, weather, agriculturals, metals and shipping. Taking the reader through every part of the commodities markets, the authors discuss the intricacies of modelling spot and forward prices, as well as the design of new Futures markets. The book also looks at the use of options and other derivative contract forms for hedging purposes, as well as supply management in commodity markets. It looks at the implications for climate policy and climate research and analyzes the various freight derivatives markets and products used to manage shipping and freight risk in a global commodity world. It is required reading for energy and mining companies, utilities practitioners, commodity and cash derivatives traders in investment banks, CTA s and hedge funds

Commodities represent today the fastest growing markets worldwide.Historically misunderstood, generally under- studied and undervalued, certainly under- represented in the literature, commoditiesare suddenly receiving the attention they deserve.Bringing together some of the best authors in the field, thisbook focuses on the risk management issues associated with bothsoft and hard commodities: energy, weather, agriculturals, metalsand shipping. Taking the reader through every part of thecommodities markets, the authors discuss the intricacies ofmodelling spot and forward prices, as well as the design of newFutures markets. The book also looks at the use of options andother derivative contract forms for hedging purposes, as well assupply management in commodity markets. It looks at theimplications for climate policy and climate research and analyzesthe various freight derivatives markets and products used to manageshipping and freight risk in a global commodity world.It is required reading for energy and mining companiesutilities' practitioners, commodity and cash derivativestraders in investment banks, CTA's and hedge funds