Commodities are basic goods used in commerce that are interchangeable with other goods of the same type. They include energy resources like crude oil and natural gas, precious metals such as gold and silver, and agricultural products like wheat, corn, and coffee. Commodities markets play a crucial role in global trade, influencing inflation, currency values, and economic growth. Prices are driven by supply and demand dynamics, geopolitical events, and weather conditions, making them a vital focus for investors and policymakers.