US stock futures are down today following their worst single session yesterday in two weeks after oil,  gasoline and corn hit record highs.

Dow Jones MarketWatch reports that S&P 500 futures fell 6.5 points to 1,353.80 and Nasdaq 100 futures dropped 8.25 points to 1,829.00, while Dow industrial futures fell 52 points.

Yesterday, the Dow Jones Industrial Average shed 49 points, the Nasdaq Composite lost 26 points and the S&P 500 fell 11 points.

Meanwhile, oil futures were up 96 cents to $111.83 a barrel and corn futures rose 1% to $6.11 per bushel.

“How do we square the strong rallies we’re seeing in oil, gold, grains and basic materials with forecasts some are making for a global recession?” asks Black Bear.

“Answer: Somebody is obviously wrong. You can’t have demand and prices soaring at the same time that a global recession is taking place. Our solution is to follow the money — and bet on commodities. We think the next tidal wave of wealth pouring into commodities could be a real doozy.”