What is a "commodity"?
In the most general terms, a commodity is a product or a good where the producer or the maker of that commodity doesn't matter. So as an example, corn as a commodity. We really don't care who grows the corn, what farmer grows the corn. Oil is another example. A barrel of oil is a barrel of oil. We don't care where, what part of the world that oil came from, oil is oil. So, a commodity is any good or real product where we're neutral; we don't care where it comes from, we just really want it.