The dynamic asset allocation problem has its origin in the pioneering work of Merton (1969, 1971) using stochastic control framework and Hamilton-Jacobi-Bellman (HJB) equation. However, a drawback of his approach is the assumption of a deterministic interest rate. Also, it is well-known that commodities have played an important role as an alternative asset class for investors in recent years. I, therefore, study investment strategies with a simple interest rate model and mean reverting commodity prices. The model consists of three asset classes: bonds, stocks, and commodities. This research aims at finding an explicit investment policy with hedge variations of mixed bond-stock-commodity dynamic portfolio problems.