The Collaborative International Dictionary of English v.0.48:

Commodity \Com*mod"i*ty\, n.; pl. Commodities. [F.
   commodit['e], fr. L. commoditas. See Commode.]
   1. Convenience; accommodation; profit; benefit; advantage;
      interest; commodiousness. [Obs.]
      [1913 Webster]

            Drawn by the commodity of a footpath. --B. Jonson.
      [1913 Webster]

            Men may seek their own commodity, yet if this were
            done with injury to others, it was not to be
            suffered.                             --Hooker.
      [1913 Webster]

   2. That which affords convenience, advantage, or profit,
      especially in commerce, including everything movable that
      is bought and sold (except animals), -- goods, wares,
      merchandise, produce of land and manufactures, etc.
      [1913 Webster]

   3. A parcel or quantity of goods. [Obs.]
      [1913 Webster]

            A commodity of brown paper and old ginger. --Shak.
      [1913 Webster]

WordNet (r) 3.0 (2006):

commodity
    n 1: articles of commerce [syn: commodity, trade good,
         good]