If you're hearing whispers that the dollar might be creeping up in value and that this might put downward pressure on commodities, then let me tell you: Don't you believe it. Although some upward adjustment might occur for the dollar, it's my opinion that this won't, by itself, reduce commodity prices. To think so is just too limited an economic scope.

First, we can believe that the platform of oil prices is going to hold solid. I do think that the price of oil will eventually recede, but it's not going to be soon and it's not going to be much. It'll be a couple years before we see any real decline, if we ever do. That reality gives us a good launching point for some speculation. Alternative fueling for motor vehicles will keep upward pressure on oils other than petroleum. Consider commodity soybeans, soybean oil, and palm oil as possible hedges. There's also potential in propane, and to me, natural gas is still artificially under valued. You might not think there's a relationship between these commodities and petroleum. Believe me though, there is. Also, like the high volume traded commodities, other vegetable oils, such as sunflower oil and cottonseed oil, are worth looking into.

Shares of chemical maker EI DuPont de Nemours & Co. (NYSE: DD) are trading slightly higher in the premarket after the company reported a rise of 26% in its first quarter. The chemical maker also affirmed its second-quarter and full-year earnings outlooks, but warned about a weak domestic demand that is likely to put pressure on growth outside the country through the rest of 2008.

For its most recent quarter, the giant chemicals maker said its profit climbed to $1.19 billion, or $1.31 a share, compared with $945 million, or $1.01 a share reported in the same period a year ago. Analysts had expected DuPont show earnings of $1.29 a share, according to Reuters Estimates.

Looking at revenue, DuPont saw a growth of 9% to $8.58 billion, inline with analysts' predictions. The third-biggest U.S. chemical maker had to face continued economic worries such as higher fuel prices and declining housing markets that put a curb on consumer spending. However, the company was able to successfully surpass those obstacles, helped by the weak dollar and higher selling prices that offset flat domestic sales.