Light

When the volume of supplies is below average for the market being reported.  See related terms supply/offeringheavy, and moderate for those definitions.

Market

A term with several meanings:

A. A geographic location where a commodity is traded.

B. The price, or price level, at which a commodity is traded.

C. To sell a commodity.

Mercosur

An economic and commercial bloc of countries in South America composed of Argentina, Brazil, Paraguay, and Uruguay.  Chile, Bolivia, Colombia, Ecuador, and Peru are associate countries.