Can someone spell out exactly what commodity trading is? Some say it is as risky as Forex trading. Comments?

Commodity trading is exactly what the names says--the trading of physical commodities. If I recall correctly, Instead of purchasing physical objects, however, you trade "contracts" or rights to these commodities.

See if this FM article herlps:
http://www.financemarkets.co.uk/2007...s-markets-for/