Corn
Corn is a food crop originating in the Americas. Corn, similar to other food commodities such as wheat, are widely traded and exported throughout the world. Corn is traded in the U.S. in three primary forms, Yellow Corn #1, #2, and #3. As a food product, corn kernels can be consumed whole or ground into a flour for baked goods. Corn, unlike other food commodities also serves as a type of energy commodity as the primary component of the fuel additive Ethanol. Ethanol is a type of sugar based alcohol derived from corn which can be used to reduce the amount of gasoline an automobile requires to operate.
Coffee
In 1457, the first recorded instance of a coffee shop opened in Constantinople. Since then, coffee has become the drink preferred by millions for the physical effects the drink has on the body. Many varieties of coffee exist today. The various types of coffee are determined by factors such as chemical makeup of the ground in which the plants grown. In the U.S. the coffee commodity is traded as a food item. The grade of the coffee is determined using specimens of samples from various locations.
Sugar
Sugar was such a rare commodity in the 15th and 16th centuries it was referred to as while gold. In modern times, sugar is created from sugar cane or sugar beets. Both produce an almost pure sucrose which is then processed into sugar. The prevalence of sugar in modern markets has turned this commodity into an indicator of discretionary spending.
Gold
Gold is historically viewed as the most sought after of the precious metals. Having many unique physical properties, the desire for the metal has allowed gold to serve as the most widely used and recognized currency in history spanning culture, language, and nationality. The allure of the metal's lustrous appearance also sees demand for jewelry and other decorative uses. Strong demand for the metal for currency and utility, the gold has historically served as the ultimate reserve currency of institution and investor alike. Gold and a few other precious metals, such as silver, are still minted into reserve currency coins by most modern nations.
Silver
Silver, similar to gold, has also seen wide spread use as a historic currency. Silver also has unique physical characteristics that have provided sustained historic and modern demand for the metal. Silver is a soft ductile metal (though not as much so as gold) and is the most electrically conductive naturally occurring metal with widespread use in modern electronics. Silver is also be utilized in a number of alloys such as palladium with strong industrial use. Like gold, silver is also minted into reserve currency coins by the worlds governments.
Oil
Oil is the most important energy commodity in use by modern civilization. Crude oil (the raw state of oil upon extraction from the earth) is the base component for all liquid fossil fuels in use today and the single most used power source for transportation in the modern world. Oil can be refined into various fuels including gasoline, propane, and heating oil. The utility use of oil and petroleum products is also truly astonishing, a required component in synthetic products ranging from rubber and plastic products to chemical compounds such as Teflon. These products are staples in the modern world and are used in every aspect of our lives in applications ranging from cellular phones to picnic dinnerware.
Wheat
Wheat is one of the primary food crops in the modern world. Wheat kernels are ground into flours that are used to make various food products. Wheat is traded as a food commodity and various characteristics of wheat such as the kernel quality determine the type of wheat to be traded. In the U.S., commodity grades of wheat vary from Millfeed quality which is suitable for livestock to Soft White Grade 2, a high quality wheat used for human consumption. Other factors, such as environmental needs of the plant, also determine the grade of wheat sold. Most wheat grown in the U.S., for example, is referred to as winter wheat since the plants thrive in cooler weather conditions during the early stages of life.
Currencies
Monetary currency is the mechanism by which labor and services are translated into wealth and goods. Governments throughout history have produced and utilized some form of monetary currency to simplify the day to day trade of food, goods, and services. In recent times, currencies issued by governments are a fiat currency. Fiat currencies are guaranteed to have monetary value by the issuing government rather than having physical backing by a demanded commodity such as a precious metal. Fiat currencies, which are not fixed to a physical commodity, often fluctuate in value with respect to one another. The Foreign Exchange (FOREX) market specializes in the trade of currencies based on such fluctuations.
