UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D. C. 20549



FORM N-CSRS



Investment Company Act file number  811-21600



DWS Global Commodities Stock Fund, Inc.

(Exact Name of Registrant as Specified in Charter)



One South Street

Baltimore, MD  21202

(Address of principal executive offices)             (Zip code)



Registrants Telephone Number, including Area Code:(212) 454-7190



Paul Schubert

345 Park Avenue

New York, NY 10154

(Name and Address of Agent for Service)



Date of fiscal year end:
        6/30




Date of reporting period:
        12/31/07






ITEM 1.REPORT TO STOCKHOLDERS





DECEMBER 31, 2007

# Semiannual Report
to Stockholders

DWS Global Commodities
Stock Fund, Inc.

Ticker Symbol: GCS

|gcs_cover160
|------------

DWS Global Commodities Stock Fund, Inc.

Investment Objectives and Policies

capital appreciation with total return as a secondary objective

Investment Characteristics

a non-diversified, closed-end investment company investing primarily
in equity and commodities-linked securities

a vehicle for global investment through participation primarily in
developed countries and, to a limited extent, emerging market
countries

General Information

|Executive Offices                             | DWS Global Commodities Stock Fund, Inc.
345 Park Avenue
New York, NY 10154                                                                                                                                                         
|--------------------------------------------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Automated Information Line                    | DWS Closed-End Fund Info Line
(800) 349-4281                                                                                                                                                                                       
|Web Sites                                     | Visit our Direct Link:www.cef.dws-scudder.com
Obtain quarterly fact sheets, financial reports, press
releases and webcasts when available.www.cef.dws-scudder.com/alerts
Register online to receive email alerts on your DWS
funds.
|Transfer Agent and Registrar                  | DWS Scudder Investments Service Company
P.O. Box 219066
Kansas City, MO 64121-9066For account information: (800) 294-4366                                                                                                          
|Dividend Reinvestment
Plan Agent              | Computershare Inc.*
P.O. Box 43078Providence, RI 02940-3078                                                                                                                                                                        
|Legal Counsel                                 | Willkie Farr & Gallagher LLP                                                                                                                                                                                                       
|Custodian                                     | Brown Brothers Harriman & Co.                                                                                                                                                                                                      
|Independent Registered
Public Accounting Firm | PricewaterhouseCoopers LLP                                                                                                                                                                                                         
|New York Stock Exchange Symbol  GCS         

Contents

click herePortfolio Management Review

click hereOther Information

click hereInvestment Summary

click herePortfolio Summary

click hereInvestment Portfolio

click hereFinancial Statements

click hereFinancial Highlights

click hereNotes to Financial Statements

click hereDividend Reinvestment and Cash Purchase Plan

click hereStockholder Meeting Results

click hereInvestment Management Agreement Approval

click hereInvestment Manager

click herePrivacy Statement

|Investments in funds involve risk. The fund is non-diversified and can take larger
positions in fewer companies, increasing its overall risk profile. Shares of
closed-end funds frequently trade at a discount to net asset value. The price of
the fund's shares is determined by a number of factors, several of which are
beyond the control of the fund. Therefore, the fund cannot predict whether its
shares will trade at, below or above net asset value. The fund concentrates its
investments in securities related to commodities-related industries. Because
the fund concentrates its investments in securities related to commodities,
market price movements, regulatory changes and economic changes as well as
adverse political or financial factors or factors affecting a particular industry or
commodity could have a significant impact on the fund's performance. The
commodity-linked structured notes and futures contracts in which the fund invests
have substantial additional risks, including risk of loss of a significant portion of their
principal value and liquidity risk, as well as the risk of greater volatility. Additionally,
this fund is subject to stock market risk. An investment in common shares
represents an indirect investment in the portfolio securities held by the fund.
The value of these securities fluctuates.
This report is sent to the stockholders of DWS Global Commodities Stock Fund, Inc. for
their information. It is not a prospectus, circular or representation intended for use in the
purchase or sale of shares of the fund or of any securities mentioned in the report.
NOT FDIC/NCUA INSURED NO BANK GUARANTEE MAY LOSE VALUE
NOT A DEPOSIT NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Portfolio Management Review

In the following interview, Portfolio Managers Theresa Gusman,
Terence Brennan and Jeffrey Saeger discuss recent market events as
well as the performance and positioning of the fund during the
semiannual period ended December 31, 2007.

The views expressed in the following discussion reflect those of the portfolio managers only
through the end of the period of the report as stated on the cover. The management team's
views are subject to change at any time based on market and other conditions and should
not be construed as a recommendation. Past performance is no guarantee of future results.

Q: How did the fund and the overall commodity markets
perform during the reporting period?

A:Volatility in the commodity markets was extraordinarily high
during the past six months, but overall the asset class performed
very well. The top three performing commodities in the second
half were wheat, soybeans and corn, all of which benefited as the
growing use of corn for ethanol production continued to displace
acreage typically planted with wheat, soybeans and corn used for
food. The worst-performing commodities were the industrial
metals, zinc and nickel. Gold also gained substantially during
the period.

In this environment, the fund produced a cumulative total return
at net asset value of 16.97%. The price of the fund's shares
traded on the New York Stock Exchange returned 17.01% based
on market performance. In comparison, the fund's benchmark 
which is divided between the S&P® Goldman Sachs Commodity
Index (20%), the Morgan Stanley Capital International (MSCI)
World Energy Index (40%), and the MSCI World Materials Index
(40%)  returned 12.10% during the same period.1 (Past
performance is no guarantee of future results. Please see page 12
for more complete performance information.)

We believe the rapid rise in commodity prices can be explained by
the combination of a weaker US dollar  which makes
commodities less expensive for nondollar buyers  as well as
investors' search for "safe havens" amid the turbulence in
equities and the global credit markets. The continuous injections
of liquidity by global central banks, which were designed to
restore confidence in the credit markets amid the broadening
US subprime crisis, also served to strengthen the rally in
commodity-related equities.

Q: What were some of the factors underpinning the fund's
outperformance?

A:We look to capture commodity returns via (1) our investment
in commodity-linked structured notes, as well as commodity
related equities. We will allocate more toward commodity-linked
structured notes or commodity related equities, whichever we
believe has the greatest potential return, (2) tactical positions in
specific commodities achieved through investments in
commodity-linked structured notes and (3) individual security
selection.

During the second half of 2007, positive performance relative to
the benchmark was driven by our ability to actively allocate
between commodity-linked securities and securities of companies
of commodities-related industries. Throughout the period, we
moved from an underweight in commodity-linked securities to an
overweight, a move that was a positive for performance. We
elected to take profits late in the period by moving this
overweight back to neutral.2

An example of when we choose equities over commodity-linked
structured notes can be seen in our recent strategy of investing in
agricultural and fertilizer stocks rather than securities directly
linked to agricultural commodities. The basis for this positioning
was our view that the growing usage of corn-derived ethanol
would have material implications for grain prices. Instead of
trading in structured notes linked to grains, we looked for stocks
that had greater leverage to the same theme. For example, we
purchased Monsanto Co. and Agrium, Inc., both of which gained
over 100% during 2007. In contrast, the return of a direct
commodity investment, which in this case would have been
structured notes in the DJ-AIG Agricultural Index, was just over
24%.3 Both investments provided exposure to the same theme
 rising grain prices  but in this case, we believed the most
efficient way to exploit this theme was through the stocks, which
experienced greater earnings leverage from higher prices for seed
(Monsanto) and fertilizer (Agrium).

Key contributors to performance were overweight positions
in gold and the agricultural chemicals/fertilizer subindustry
group, along with stock selection in the diversified metals/mining
and specialty chemical industries. Areas in which our stock
selection was less effective were paper products and oil and gas
equipment/services. An overweight position in the platinum
sector also detracted from performance.

Q: What individual holdings helped and hurt performance?

A:On the equity side of the fund, the top five performers during
the second half were two stocks mentioned above: Monsanto, an
agricultural biotechnology company through which we seek to
exploit the favorable cycle for grains such as corn and soy, and
Agrium, a fertilizer company that supplies nitrogen, phosphate and
potash. Also helping performance were Uralkali, a Russian potash
company, which is one of the largest direct suppliers of fertilizer
to China, Gazprom, the Russian natural gas company, and First
Solar, Inc., which produces solar modules. First Solar is one of the
fund's key investments in alternative energy.

The two largest detractors from performance were Stora Enso
Oyj, an integrated paper and forest products manufacturer
based in Finland, and Martin Marietta Materials, Inc., a
cement/aggregates company in which the fund held an
overweight position. Other notable detractors were Tokyo
Steel Manufacturing Co., Ltd., a Japanese steel manufacturer
exposed to the weak price environment for scrap metal, and
Domtar Corp.*, a producer of specialty and fine papers based in
Canada. Relative performance also was hurt by the fund's zero
weighting in a stock that performed very well: Potash Corp., the
world's largest producer of potash.

Q: Please discuss the areas of the market in which you are
finding opportunity.

A:With oil prices close to $100 as of year-end, our current view is
that the risk-reward trade-off at this level is much less favorable
than it was at the beginning of 2007. While the potential always
exists for the oil price to be driven higher in the short term by
unforeseen supply disruptions or turmoil in the Middle East, we
believe the bulk of the gain in oil is now behind us. On the other
hand, we believe natural gas prices are likely to trend higher,
particularly in North America. In addition, we believe strong
demand from China should continue to support bulk and base
metals at current levels. Finally, we hold a cautious outlook on
commodity-related equities based on our view that slowing
economic growth in the United States is not yet being fully priced
into current stock valuations.

With this as a backdrop, we have added overweight positions in
three areas: natural gas, gasoline and corn. These additions have
been funded, in part, by a reduction in the fund's exposure to oil.
The fund also has exposure to platinum, which we believe has
robust supply-and-demand fundamentals. At the same time that
clean air requirements are becoming more stringent, thereby
raising the demand for platinum in devices such as catalytic
converters, production of the metal is becoming increasingly
difficult.

We also are maintaining an overweight position in gold. In an
environment of high investor risk aversion, demand for gold
should remain sturdy as it becomes increasingly viewed by
investors more as a currency and less as a precious metal.

Elsewhere in the commodity sector, we hold an underweight
position in chemical stocks based on our belief that the industry's
fundamentals have yet to turn positive. We also reduced the
fund's position in paper and forest products companies whose
longer-term restructuring processes appear to be more protracted
than originally perceived. On the other hand, we are maintaining
overweight positions in the agricultural and fertilizer sectors,
where, we believe fundamentals look quite good for the next
few years.

We also hold a positive view on the alternative energy sector,
where fundamentals remain strong and government policy has
grown increasingly supportive. Aside from First Solar, the fund's
leading positions in this group are Wacker Chemie AG, a German
specialty chemical manufacturer and one of the largest suppliers
of polysilicon, which is used in the manufacturing of solar
panels; Yingli Green Energy Holding Co., Ltd., a China-based
manufacturer of solar modules; and Gamesa Corporacion
Tecnologica SA, a Spanish manufacturer of wind-powered
electricity generators.

Q: Do you have any closing thoughts for investors?

A:Overall, we believe the backdrop of decreasing supply
and increased demand suggests that upward pressure on
commodity prices will continue  albeit with volatility inherent
to commodities  for the foreseeable future.

Other Information

Proxy Voting

A description of the fund's policies and procedures for voting proxies for
portfolio securities and information about how the fund voted proxies
related to its portfolio securities during the 12-month period endedJune 30is available on our Web site  www.dws-scudder.com (click on
"proxy voting"at the bottom of the page)  or on the SEC's Web site 
www.sec.gov. To obtain a written copy of the fund's policies and
procedures without charge, upon request, call us toll free at
(800) 621-1048.

Dividend Reinvestment Plan and Cash Purchase Plan

The fund's Dividend Reinvestment and Cash Purchase Plan offers you a
convenient way to have your dividends and capital gain distributions
reinvested in shares of the fund. We believe this Plan is attractive for
stockholders. Its features are more fully described on page 33. You may
obtain more detailed information by requesting a copy of the Plan from
the Transfer Agent. All correspondence (including notifications) should be
directed to: DWS Global Commodities Stock Fund, Inc. Dividend
Reinvestment and Cash Purchase Plan, c/o DWS Scudder Investments
Service Company, P.O. Box 219066, Kansas City, MO 64121-9066, or by
calling (800) 294-4366.

Net Asset Value

The fund's NAV is available daily on our Web site atwww.cef.dws-scudder.com. The fund's NAV is published weekly on Monday
in The Wall Street Journalunder the heading "Closed End Funds." The
fund's market value is published weekly in Barron's. The fund's NAV is
also published weekly in Barron's.

Tender Offer Program for Fund Shares

The fund's Board of Directors has authorized, subject to applicable
law, a program of tender offers for the fund's common shares for six
consecutive semiannual periods of operation beginning with the
semiannual period ending December 2005. In the event that the common
shares have traded at an average discount from net asset value of more
than 10% for the twelve weeks immediately preceding the end of the first
quarter of such semiannual period (i.e., the first calendar quarter and the
third calendar quarter), the fund, under normal circumstances and subject
to certain conditions, will make offers to purchase up to 5% of its
outstanding common shares at or near their net asset value from all
beneficial shareholders. At the time of any such tender offer, the Board of
Directors, considering facts and circumstances existing at such time, will
determine the amount of such offer. The Board of Directors reserves the
right to modify the conditions described in this paragraph in light of
experience and other factors. The Board of Directors also will consider,
from time to time as conditions and circumstance warrant, additional
tender offers for the fund's outstanding shares. There is no guarantee that
the Board of Directors will authorize such additional tender offers. In
addition, the Board of Directors may consider from time to time open
market repurchases of the fund's outstanding common shares.

Under certain circumstances, the Board of Directors may determine not
to undertake a tender offer even if the conditions described in the
preceding paragraph are met. Moreover, there can be no assurance that
any such tender offers would cause the common shares to trade at a price
equal to their net asset value or reduce the spread between the market
price and the net asset value per common share. There can be no
assurance that the fund will in fact effect repurchases of or tender offers
for any of its common shares. The fund's potential tender offers may
prevent the fund from taking advantage of attractive investment
opportunities and if the fund does not generate sufficient cash flow from
operations, it may be forced to sell investments at disadvantageous times
or to borrow money to fund tender offers. Interest on any such borrowing
would increase the fund's expenses and reduce the fund's net income.
The acquisition of common shares by the fund will decrease the total
assets of the fund and, therefore, will have the effect of increasing the
fund's expense ratio.

On June 11, 2007, the fund commenced the fourth tender offer for cash
for up to 5% of its issued and outstanding shares of common stock. The
tender offer expired on July 17, 2007. The fund accepted after adjusting for
fractional shares in accordance with the terms of the offer, 1,113,387
properly tendered shares at a price equal to 98% of the net asset value on
the next business day after the offer expired.  Approximately 13,753,961
shares of common stock, or approximately 62% of the fund's common
shares outstanding, were tendered through the expiration date. Under the
final pro-ration calculation, 8.09499% of the non-odd lot shares were
properly tendered and accepted for payments. The shares accepted for
tender received cash at a repurchase price of $21.795, which is equal to
98% of the fund's net asset value on July 18, 2007.

On December 28, 2007, the fund commenced the fifth tender offer for up
to 5% of its issued and outstanding shares of common stock. The tender
offer expired on February 6, 2008. The fund accepted, after adjusting for
fractional shares in accordance with the terms of the offer, 1,057,718
properly tendered shares at a price equal to 98% of the net asset value on
the next business day after the offer expired. Approximately 12,595,892
shares of common stock, or approximately 59% of the fund's common
shares outstanding, were tendered through the expiration date. Under the
final pro-ration calculation, 8.39737% of the tendered shares were
properly tendered and accepted for payments. The shares accepted for
tender received cash at a repurchase price of $17.814, which is equal to
98% of the Fund's net asset value on February 7, 2008.

There can be no assurance that any action proposed or adopted by the
Board of Directors will reduce or eliminate the discount at which the
fund's shares trade. The tender offer was made only by the Offer to
Purchase and the related Letter of Transmittal.

Certifications

The fund's chief executive officer has certified to the New York Stock
Exchange that, as of November 16, 2007, he was not aware of any
violation by the fund of applicable NYSE corporate governance listing
standards. The fund's reports on Form N-CSRs and N-Q contain
certifications by the fund's chief executive officer and chief financial officer
that relate to the fund's disclosure in such reports and that are required by
the Rule 30a-2(a) under the Investment Company Act.

Investment Summaryas of December 31, 2007

All performance shown is historical, assumes reinvestment of all dividend and
capital gain distributions, and does not guarantee future results. Investment
return and principal value fluctuate with changing market conditions so that,
when sold, shares may be worth more or less than their original cost. Current
performance may be lower or higher than the performance data quoted. Please
visit www.cef.dws-scudder.com for the Fund's most recent performance.

|Total Returnas of 12/31/07          | 6-Month | 1-Year | 3-Year | Life of
Fund*
|----------------------------------- | -------- | ------ | ------ | -------------
|Based on Net Asset Value(a)         | 16.97%   | 40.99% | 26.97% | 26.48%       
|Based on Market Price(a)            | 17.01%   | 38.25% | 25.35% | 19.79%       
|Blended Index+                      | 12.10%   | 32.04% | 21.67% | 23.59%       
|S&P® Goldman Sachs Commodity Index+ | 24.44%   | 32.67% | 11.25% | 7.41%        
|MSCI World Energy Index+            | 10.23%   | 29.79% | 23.17% | 25.71%       
|MSCI World Materials Index+         | 7.93%    | 33.24% | 24.59% | 28.95%       

Sources: Lipper Inc. and Deutsche Investment Management Americas Inc.

|Per Share Information | As of 12/31/07 | As of 6/30/07
|--------------------- | -------------- | -------------
|Net Asset Value       | $      20.09   | $      21.25 
|Market Price          | $      17.61   | $      18.62 

Prices and net asset value fluctuate and are not guaranteed.

|Distribution Information                  
|------------------------------------------
|Six Months as of 12/31/07:Income Dividends
|Capital Gain Distributions                

Portfolio Summary

|Asset Allocation(As a % of Investment Portfolio) | 12/31/07 | 6/30/07
|------------------------------------------------ | -------- | -------
|                                                 |          |        
|Common Stocks                                    | 76%      | 74%    
|Commodities Linked/Structured Notes              | 17%      | 23%    
|Cash Equivalents                                 | 4%       | 1%     
|Exchange Traded Funds                            | 3%       | 2%     
|                                                 | 100%     | 100%   

|Geographical Diversification(As a % of Common Stocks) | 12/31/07 | 6/30/07
|----------------------------------------------------- | -------- | -------
|                                                      |          |        
|United States                                         | 48%      | 44%    
|United Kingdom                                        | 11%      | 10%    
|Canada                                                | 9%       | 9%     
|Netherlands                                           | 6%       | 7%     
|Russia                                                | 6%       | 3%     
|France                                                | 4%       | 7%     
|Australia                                             | 4%       | 5%     
|Luxembourg                                            | 2%       |       
|Norway                                                | 2%       | 2%     
|Finland                                               | 1%       | 3%     
|Italy                                                 |         | 3%     
|Other                                                 | 7%       | 7%     
|                                                      | 100%     | 100%   

|Sector Diversification(As a % of Common Stocks) | 12/31/07 | 6/30/07
|----------------------------------------------- | -------- | -------
|                                                |          |        
|Energy                                          | 49%      | 51%    
|Materials                                       | 48%      | 48%    
|Industrials                                     | 3%       | 1%     
|                                                | 100%     | 100%   

Asset allocation, geographical and sector diversification are subject to change.

|Ten Largest Equity Holdings at December 31, 2007(34.3% of Net Assets)              
|-----------------------------------------------------------------------------------
|1.      ExxonMobil Corp.
Explorer and producer of oil and gas                      
|2.      Royal Dutch Shell PLC
Explores, produces and refines petroleum             
|3.      BP PLC
Exporter and producer of oil and natural gas                        
|4.      Monsanto Co.
Provider of agricultural products                             
|5.      BHP Billiton PLC
Producer of petroleum, minerals and steel products        
|6.      Rio Tinto PLC
Operator of a mining, manufacturing and development company  
|7.      Suncor Energy, Inc.
Integrated energy company                              
|8.      Schlumberger Ltd.
Provider of technology services to the petroleum industry
|9.      Apache Corp.
Explorer, developer and producer of natural gas and crude oil 
|10.     Occidental Petroleum Corp.
Producer of oil and natural gas                 

Portfolio holdings are subject to change.

For more complete details about the Fund's investment portfolio, see page 15. A quarterly
Fact Sheet is available upon request. Please see the General Information section in the
beginning of this report for contact information.

Following the Fund's fiscal first and third quarter-end, a complete portfolio
holdings listing is filed with the SEC on Form N-Q. The form will be
available on the SEC's Web site at www.sec.gov, and it also may be
reviewed and copied at the SEC's Public Reference Room in Washington,
D.C. Information on the operation of the SEC's Public Reference Room
may be obtained by calling (800) SEC-0330.

Investment Portfolioas of December 31, 2007 (Unaudited)

|                                                               | Shares      | Value ($) 
|-------------------------------------------------------------- | ----------- | ----------
|                                                               |            
|Common Stocks 91.9%                                           
|Argentina 0.9%                                                
|Tenaris SA (ADR) (Cost $3,173,704)                             | 82,700      | 3,699,171 
|Australia 3.9%                                                
|BHP Billiton Ltd.                                              | 342,900     | 12,024,880
|Rio Tinto Ltd.                                                 | 38,698      | 4,517,992 
|(Cost $8,240,173)                                              | 16,542,872 
|Bermuda 1.0%                                                  
|Aquarius Platinum Ltd.                                         | 172,800     | 1,948,318 
|Nabors Industries Ltd.*                                        | 83,300      | 2,281,587 
|(Cost $4,170,095)                                              | 4,229,905  
|Brazil 0.4%                                                   
|Companhia Vale do Rio Doce (ADR) (Cost $1,973,329)             | 54,300      | 1,773,981 
|Canada 7.9%                                                   
|Agrium, Inc.                                                   | 108,800     | 7,900,801 
|EnCana Corp.                                                   | 112,500     | 7,694,159 
|Kinross Gold Corp.*                                            | 258,700     | 4,796,808 
|Suncor Energy, Inc.                                            | 99,364      | 10,864,093
|Uranium One, Inc.*                                             | 141,900     | 1,269,545 
|Uranium Participation Corp.*                                   | 95,300      | 1,014,847 
|(Cost $20,880,693)                                             | 33,540,253 
|China 0.6%                                                    
|Yingli Green Energy Holding Co., Ltd. (ADR)* (Cost $2,158,746) | 67,500      | 2,612,250 
|Finland 1.4%                                                  
|Stora Enso Oyj "R" (Cost $6,875,168)                           | 394,700     | 5,857,617 
|France 3.7%                                                   
|Lafarge SA                                                     | 27,570      | 4,990,649 
|Total SA                                                       | 90,895      | 7,543,341 
|Vallourec SA                                                   | 12,471      | 3,357,247 
|(Cost $12,829,169)                                             | 15,891,237 
|Germany 1.4%                                                  
|Wacker Chemie AG (Cost $4,144,481)                             | 20,900      | 5,994,537 
|Japan 1.2%                                                    
|JFE Holdings, Inc.                                             | 48,300      | 2,433,868 
|Tokyo Steel Manufacturing Co., Ltd.                            | 236,500     | 2,626,957 
|(Cost $6,918,130)                                              | 5,060,825  
|Luxembourg 1.5%                                               
|ArcelorMittal (Cost $5,263,263)                                | 82,347      | 6,331,740 
|Netherlands 5.6%                                              
|Royal Dutch Shell PLC "A"                                      | 263,625     | 11,105,964
|Royal Dutch Shell PLC "B"                                      | 203,837     | 8,525,178 
|SBM Offshore NV                                                | 140,860     | 4,418,346 
|(Cost $22,514,571)                                             | 24,049,488 
|Norway 1.5%                                                   
|StatoilHydro ASA (ADR) (Cost $4,851,483)                       | 205,140     | 6,260,873 
|Russia 5.1%                                                   
|Gazprom (ADR) (a)                                              | 1,485       | 84,199    
|Gazprom (ADR) (a)                                              | 137,701     | 7,754,196 
|Integra Group Holdings (GDR)*                                  | 191,700     | 3,243,564 
|Magnitogorsk Iron & Steel Works (GDR) 144A                     | 282,780     | 4,736,565 
|Uralkali (GDR) 144A*                                           | 157,000     | 5,848,250 
|(Cost $15,961,146)                                             | 21,666,774 
|South Africa 0.5%                                             
|Gold Fields Ltd. (ADR) (Cost $2,687,163)                       | 166,600     | 2,365,720 
|Spain 0.5%                                                    
|Gamesa Corporacion Tecnologica SA (Cost $2,006,972)            | 43,200      | 1,998,729 
|Sweden 0.8%                                                   
|SSAB Svenskt Stal AB "A" (Cost $3,831,111)                     | 121,400     | 3,258,720 
|United Kingdom 10.2%                                          
|Anglo American PLC                                             | 69,518      | 4,213,061 
|BHP Billiton PLC                                               | 246,131     | 7,581,315 
|BP PLC                                                         | 1,413,715   | 17,289,146
|Lonmin PLC                                                     | 47,395      | 2,924,104 
|Rio Tinto PLC                                                  | 107,078     | 11,218,309
|(Cost $29,035,682)                                             | 43,225,935 
|United States 43.8%                                           
|Air Products & Chemicals, Inc.                                 | 66,820      | 6,590,457 
|Alcoa, Inc.                                                    | 147,600     | 5,394,780 
|Allegheny Technologies, Inc.                                   | 26,027      | 2,248,733 
|Apache Corp.                                                   | 91,460      | 9,835,608 
|Cameron International Corp.*                                   | 67,098      | 3,229,427 
|Chevron Corp.                                                  | 73,400      | 6,850,422 
|Commercial Metals Co.                                          | 79,535      | 2,342,306 
|Dow Chemical Co.                                               | 137,800     | 5,432,076 
|EOG Resources, Inc.                                            | 40,500      | 3,614,625 
|ExxonMobil Corp.                                               | 317,610     | 29,756,881
|First Solar, Inc.*                                             | 8,800       | 2,350,832 
|Freeport-McMoRan Copper & Gold, Inc.                           | 43,900      | 4,497,116 
|Frontier Oil Corp.                                             | 43,800      | 1,777,404 
|Marathon Oil Corp.                                             | 114,000     | 6,938,040 
|Martin Marietta Materials, Inc.                                | 38,800      | 5,144,880 
|Monsanto Co.                                                   | 148,264     | 16,559,606
|Nucor Corp.                                                    | 60,721      | 3,595,898 
|Occidental Petroleum Corp.                                     | 112,580     | 8,667,534 
|Owens-Illinois, Inc.*                                          | 100,200     | 4,959,900 
|Packaging Corp. of America                                     | 63,600      | 1,793,520 
|Patriot Coal Corp.*                                            | 7,522       | 313,968   
|Peabody Energy Corp.                                           | 75,224      | 4,636,807 
|PPG Industries, Inc.                                           | 64,430      | 4,524,919 
|Praxair, Inc.                                                  | 85,500      | 7,584,705 
|Schlumberger Ltd.                                              | 103,020     | 10,134,077
|Steel Dynamics, Inc.                                           | 60,500      | 3,603,985 
|The Mosaic Co.*                                                | 34,800      | 3,283,032 
|Ultra Petroleum Corp.*                                         | 41,100      | 2,938,650 
|Valero Energy Corp.                                            | 62,800      | 4,397,884 
|Weyerhaeuser Co.                                               | 79,700      | 5,877,078 
|XTO Energy, Inc.                                               | 147,250     | 7,562,760 
|(Cost $118,337,548)                                            | 186,437,910
|Total Common Stocks (Cost $275,852,627)                        | 390,798,537
|                                                              
|Exchange Traded Funds 3.0%                                    
|streetTRACKS Gold Trust*(Cost $7,323,430)                      | 154,353     | 12,727,949

|                                                             | Principal
Amount ($) | Value ($) 
|------------------------------------------------------------ | -------------------- | ----------
|                                                             |                     
|Commodities Linked/Structured Notes 20.6%                   
|Barclays S&P GSCI Structured Note, 144A, 4.5%,
7/8/2008 (b)  | 15,000,000           | 18,855,930
|Barclays S&P GSCI Structured Note, 144A,
4.5%, 6/30/2008 (b) | 10,800,000           | 13,451,227
|Lehman S&P GSCI Structured Note, 144A, 4.33%,
7/30/2008 (b)  | 28,000,000           | 33,188,400
|UBS S&P GSCI Structured Note, 144A, 4.48%, 12/8/2008 (b)     | 21,000,000           | 21,891,870
|Total Commodities Linked/Structured Notes (Cost $74,800,000) | 87,387,427          
|                                                            
|Government & Agency Obligations 0.1%                        
|US Treasury Obligations                                     
|US Treasury Bills:                                           |                      |           
|3.7%**, 1/17/2008 (c)                                        | 129,000              | 128,858   
|2.52%**, 1/17/2008 (c)                                       | 328,000              | 327,633   
|2.42%**, 1/17/2008 (c)                                       | 25,000               | 24,973    
|Total Government & Agency Obligations (Cost $481,394)        | 481,464             

|                                                       | Shares     | Value ($) 
|------------------------------------------------------ | ---------- | ----------
|                                                       |           
|Cash Equivalents 5.2%                                 
|Cash Management QP Trust, 4.67% (d) (Cost $21,934,781) | 21,934,781 | 21,934,781

|                                               | % of Net
Assets | Value ($)   
|---------------------------------------------- | --------------- | ------------
|                                               |                
|Total Investment Portfolio(Cost $380,392,232)+ | 120.8           | 513,330,158 
|Other Assets and Liabilities, Net              | (20.8)          | (88,291,062)
|Net Assets                                     | 100.0           | 425,039,096 

144A: Security exempt from registration under Rule 144A of the Securities Act of 1933.
These securities may be resold in transactions exempt from registration, normally to
qualified institutional buyers.

ADR: American Depositary Receipt

GDR: Global Depositary Receipt

S&P GSCI: S&P Goldman Sachs Commodity Index

At December 31, 2007, open future contracts purchased were as follows:

|Futures                           | Expiration
Date | Contracts | Aggregated
Face
Value ($) | Value ($)  | Unrealized
Appreciation ($)
|--------------------------------- | --------------- | --------- | ------------------------- | ---------- | ---------------------------
|S&P Goldman
Sachs
Commodity Index | 1/15/2008       | 120       | 17,712,162                | 18,273,000 | 560,838                    

At December 31, 2007, open written options contracts were as follows:

|Written Options                                        | Number of
Contracts | Expiration
Date | Strike
Price ($) | Value ($)
|------------------------------------------------------ | ------------------- | --------------- | ---------------- | ---------
|Call Options
Monsanto Co.                              | 148                 | 1/19/2008       | 100              | (207,200)
|Put Options
Allegheny Technologies, Inc.               | 260                 | 1/19/2008       | 90               | (135,200)
|Total open written options (premium received $236,382) | (342,400)          

Financial Statements

|Statement of Assets and Liabilitiesas of December 31, 2007 (Unaudited)                                                                                               
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Assets                                                                                                                                                               
|Investments:Investments in securities, at value (cost $358,457,451)                                                                                                  
|Investment in Cash Management QP Trust (cost $21,934,781)                                                                                                            
|Total investments, at value (cost $380,392,232)                                                                                                                      
|Foreign currency, at value (cost $9,874)                                                                                                                             
|Interest receivable                                                                                                                                                  
|Dividends receivable                                                                                                                                                 
|Foreign taxes recoverable                                                                                                                                            
|Other assets                                                                                                                                                         
|Total assets                                                                                                                                                         
|Liabilities                                                                                                                                                          
|Cash overdraft                                                                                                                                                       
|Payable for daily variation margin on open futures contracts                                                                                                         
|Distributions payable                                                                                                                                                
|Options written, at value (premium $236,382)                                                                                                                         
|Accrued management fee                                                                                                                                               
|Accrued expenses and other liabilities                                                                                                                               
|Total liabilities                                                                                                                                                    
|Net assets, at value                                                                                                                                                 
|Net Assets consist of                                                                                                                                                
|Accumulated distributions in excess of net investment income                                                                                                         
|Net unrealized appreciation (depreciation) on:Investments                                                                                                            
|Futures                                                                                                                                                              
|Written options                                                                                                                                                      
|Foreign currency related transactions                                                                                                                                
|Accumulated net realized gain (loss)                                                                                                                                 
|Cost of 4,817,643 shares held in treasury                                                                                                                            
|Paid-in capital                                                                                                                                                      
|Net assets, at value                                                                                                                                                 
|Net Asset Value:                                                                                                                                                     
|Net Asset Value offering and redemption price per share
($425,039,096 ÷ 21,154,358 shares of common stock outstanding,
$.01 par value, 240,000,000 shares authorized)

The accompanying notes are an integral part of the financial statements.

|Statement of Operationsfor the six months ended December 31, 2007 (Unaudited)
|-----------------------------------------------------------------------------
|Investment Income                                                            
|Income:Interest                                                              
|Dividends (net of foreign taxes withheld of $101,534)                        
|Interest  Cash Management QP Trust                                          
|Total Income                                                                 
|Expenses:Management fee                                                      
|Custody and accounting fees                                                  
|Reports to shareholders and shareholder meeting                              
|Professional fees                                                            
|Services to shareholders                                                     
|NYSE listing fees                                                            
|Trustees' fees and expenses                                                  
|Other                                                                        
|Total expenses                                                               
|Net investment income (loss)                                                 
|Realized and Unrealized Gain (Loss)                                          
|Net realized gain (loss) from:Investments                                    
|Futures                                                                      
|Written options                                                              
|Foreign currency                                                             
|                                                                             
|Change in net unrealized appreciation (depreciation) on:Investments          
|Futures                                                                      
|Written options                                                              
|Foreign currency                                                             
|                                                                             
|Net gain (loss)                                                              
|Net increase (decrease) in net assets resulting from operations              

The accompanying notes are an integral part of the financial statements.

|Statement of Changes in Net Assets                                                                                                                                                 
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                   
|Operations:Net investment income (loss)                                                                                                                                            
|Net realized gain (loss)                                                                                                                                                           
|Change in net unrealized appreciation (depreciation)                                                                                                                               
|Net increase (decrease) in net assets resulting from
operations                                                                                                                    
|Distributions to shareholders from:Net investment income                                                                                                                           
|Net realized gains                                                                                                                                                                 
|Total distributions to shareholders                                                                                                                                                
|Fund share transactions:Cost of shares tendered                                                                                                                                    
|Net increase (decrease) in net assets from Fund share
transactions                                                                                                                 
|Increase (decrease) in net assets                                                                                                                                                  
|Net assets at beginning of year                                                                                                                                                    
|Net assets at end of year (including accumulated
distributions in excess of net investment income and
undistributed net investment income of $147,097 and
$1,871,660, respectively)
|Other Information                                                                                                                                                                  
|Shares outstanding at beginning of period                                                                                                                                          
|Shares tendered                                                                                                                                                                    
|Common shares outstanding at end of period                                                                                                                                         

The accompanying notes are an integral part of the financial statements.

Financial Highlights

|Years Ended June 30,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 2007a      | 2007       | 2006       | 2005b      
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------- | ---------- | ---------- | -----------
|Selected Per Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $    21.25 | $    19.27 | $    16.16 | $    14.33e
|Income (loss) from investment operations:
Net investment income (loss)c                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | .02        | .11        | .20        | .12        
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 2.94       | 3.54       | 4.69       | 1.77       
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 2.96       | 3.65       | 4.89       | 1.89       
|Less distributions from:
Net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | (.11)      | (.13)      | (.17)      | (.02)      
|Net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | (4.03)     | (1.56)     | (1.65)     | (.01)      
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | (4.14)     | (1.69)     | (1.82)     | (.03)      
|Offering costs charged to paid-in capital                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |           |           |           | (.03)      
|NAV accretion resulting from shares tendered for
shares at value                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | .02        | .02        | .04        |           
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $    20.09 | $    21.25 | $    19.27 | $    16.16 
|Market value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $    17.61 | $    18.62 | $    16.47 | $    14.04 
|Total Return (%)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|Per share net asset value (%)d                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 16.97**    | 22.91      | 32.61      | 12.98**    
|Per share market value (%)d                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 17.01**    | 26.01      | 30.45      | (6.22)**   
|Ratios to Average Net Assets and Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 425        | 473        | 452        | 420        
|Ratio of expenses before expense reductions (%)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 1.10*      | 1.09       | 1.13       | 1.13*      
|Ratio of expenses after expense reductions (%)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 1.10*      | 1.09       | 1.13       | 1.12*      
|Ratio of net investment income (loss) (%)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | .16*       | .60        | 1.08       | .97*       
|Portfolio turnover rate (%)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 36**       | 118        | 93         | 59**       
|aFor the six months ended December 31, 2007 (Unaudited).bFor the period from September 24, 2004 (commencement of operations) to
June 30, 2005.cBased on average shares outstanding during the period.dTotal return based on net asset value reflects changes in the Fund's net asset value
during the period. Total return based on market value reflects changes in market value.
Each figure assumes that dividend and capital gain distributions, if any were reinvested.
These figures will differ depending upon the level of any discount from or premium to
net asset value at which the Fund's shares traded during the period.eBeginning per share amount reflects $15.00 initial public offering price net of sales load
($0.675 per share).*Annualized**Not annualized

Notes to Financial Statements(Unaudited)

A. Significant Accounting Policies

DWS Global Commodities Stock Fund, Inc. (the ``Fund'') is registered
under the Investment Company Act of 1940, as amended (the ``1940
Act''), as a closed-end, non-diversified management investment company
organized as a Maryland corporation.

The Fund is authorized to issue 250,000,000 shares, of which
240,000,000 shares are classified as Common Shares and 10,000,000
shares are classified as Preferred Shares, $0.01 par value per share.

The Fund's financial statements are prepared in accordance with
accounting principles generally accepted in the United States of America
which require the use of management estimates. Actual results could
differ from those estimates. The policies described below are followed
consistently by the Fund in the preparation of its financial statements.

Security Valuation. Investments are stated at value determined as of the
close of regular trading on the New York Stock Exchange on each day the
exchange is open for trading. Equity securities are valued at the most
recent sale price or official closing reported on the exchange (US or
foreign) or over-the-counter market on which the security is traded most
extensively. Securities for which no sales are reported are valued at the
calculated mean between the most recent bid and asked quotations on
the relevant market or, if a mean cannot be determined, at the most
recent bid quotation.

Structured notes (i.e., commodities-linked or index-linked notes) are valued
by the counterparties under valuation procedures which are approved by
the Directors. The counterparties may use various pricing techniques
which take into account appropriate factors such as related underlying
indices, commodities' prices, liquidity, quality, maturity and other
economic variables.

Money market instruments purchased with an original or remaining
maturity of sixty days or less, maturing at par, are valued at amortized
cost. Investments in open-end investment companies and Cash
Management QP Trust are valued at their net asset value each business
day.

Securities and other assets for which market quotations are not readily
available or for which the above valuation procedures are deemed not to
reflect fair value are valued in a manner that is intended to reflect their fair
value as determined in accordance with procedures approved by the
Directors. The Fund may use a fair valuation model to value international
equity securities in order to adjust for events which may occur between
the close of the foreign exchanges and the close of the New York Stock
Exchange.

In September 2006, the Financial Accounting Standards Board (FASB)
released Statement of Financial Accounting Standards No. 157, "Fair Value
Measurements" ("FAS 157"). FAS 157 defines fair value, establishes a
framework for measuring fair value and expands disclosures about fair
value measurements. FAS 157 is effective for fiscal years beginning after
November 15, 2007. As of December 31, 2007, management does not
believe the adoption of FAS 157 will impact the amounts reported in the
financial statements, however, additional disclosures will be required
about the inputs used to develop the measurements of fair value and the
effect of certain of the measurements reported in the statement of
operations for a fiscal period.

Foreign Currency Translations. The books and records of the Fund are
maintained in US dollars. Investment securities and other assets and
liabilities denominated in a foreign currency are translated into US dollars
at the prevailing exchange rates at period end. Purchases and sales of
investment securities, income and expenses are translated into US dollars
at the prevailing exchange rates on the respective dates of the
transactions.

Net realized and unrealized gains and losses on foreign currency
transactions represent net gains and losses between trade and
settlement dates on securities transactions, the disposition of forward
foreign currency exchange contracts and foreign currencies, and the
difference between the amount of net investment income accrued and
the US dollar amount actually received. That portion of both realized and
unrealized gains and losses on investments that results from fluctuations
in foreign currency exchange rates is not separately disclosed, but is
included with net realized and unrealized gain/appreciation and
loss/depreciation on investments.

Forward Foreign Currency Exchange Contracts. A forward foreign
currency exchange contract ("forward currency contract") is a
commitment to purchase or sell a foreign currency at the settlement date
at a negotiated rate. The Fund may enter into forward currency contracts
in order to hedge its exposure to changes in foreign currency exchange
rates on its foreign currency denominated portfolio holdings and to
facilitate transactions in foreign currency denominated securities.

Forward currency contracts are valued at the prevailing forward exchange
rate of the underlying currencies and unrealized gain (loss) is recorded
daily. Sales and purchases of forward currency contracts having the same
settlement date and broker are offset and any gain (loss) is realized on the
date of offset; otherwise, gain (loss) is realized on settlement date.
Realized and unrealized gains and losses which represent the difference
between the value of a forward currency contract to buy and a forward
currency contract to sell are included in net realized and unrealized gain
(loss) from foreign currency related transactions.

Certain risks may arise upon entering into forward currency contracts
from the potential inability of counterparties to meet the terms of their
contracts. Additionally, when utilizing forward currency contracts to
hedge, the Fund gives up the opportunity to profit from favorable
exchange rate movements during the term of the contract.

Futures Contracts. A futures contract is an agreement between a buyer or
seller and an established futures exchange or its clearinghouse in which
the buyer or seller agrees to take or make a delivery of a specific amount
of a financial instrument at a specified price on a specific date (settlement
date). The Fund may enter into futures contracts as a hedge against
anticipated interest rate, currency or equity market changes, and for
duration management, risk management and return enhancement
purposes.

Upon entering into a futures contract, the Fund is required to deposit with
a financial intermediary an amount ("initial margin") equal to a certain
percentage of the face value indicated in the futures contract. Subsequent
payments ("variation margin") are made or received by the Fund
dependent upon the daily fluctuations in the value of the underlying
security and are recorded for financial reporting purposes as unrealized
gains or losses by the Fund. When entering into a closing transaction, the
Fund will realize a gain or loss equal to the difference between the value
of the futures contract to sell and the futures contract to buy. Futures
contracts are valued at the most recent settlement price.

Certain risks may arise upon entering into futures contracts, including the
risk that an illiquid secondary market will limit the Fund's ability to close
out a futures contract prior to the settlement date and that a change in the
value of a futures contract may not correlate exactly with the changes in
the value of the securities or currencies hedged. When utilizing futures
contracts to hedge, the Fund gives up the opportunity to profit from
favorable price movements in the hedged positions during the term of the
contract.

Options. An option contract is a contract in which the writer of the option
grants the buyer of the option the right to purchase from (call option), or
sell to (put option), the writer a designated instrument at a specified price
within a specified period of time. Certain options, including options on
indices, will require cash settlement by the Fund if the option is exercised.
The Fund may enter into option contracts in order to hedge against
potential adverse price movements in the value of portfolio assets; as a
temporary substitute for selling selected investments; to lock in the
purchase price of a security or currency which it expects to purchase in
the near future; as a temporary substitute for purchasing selected
investments; and to enhance potential gain.

The liability representing the Fund's obligation under an exchange traded
written option or investment in a purchased option is valued at the last
sale price or, in the absence of a sale, the mean between the closing bid
and asked prices or at the most recent asked price (bid for purchased
options) if no bid and asked price are available. Over-the-counter written or
purchased options are valued using dealer-supplied quotations. Gain or
loss is recognized when the option contract expires or is closed.

If the Fund writes a covered call option, the Fund foregoes, in exchange
for the premium, the opportunity to profit during the option period from an
increase in the value of the underlying security above the exercise price. If
the Fund writes a put option it accepts the risk of a decline in the value of
the underlying security below the exercise price. Over-the-counter options
have the risk of the potential inability of counterparties to meet the terms
of their contracts. The Fund's maximum exposure to purchased options is
limited to the premium initially paid. In addition, certain risks may arise
upon entering into option contracts including the risk that an illiquid
secondary market will limit the Fund's ability to close out an option
contract prior to the expiration date and that a change in the value of the
option contract may not correlate exactly with changes in the value of the
securities or currencies hedged.

Commodities Linked/Structured Notes. The Fund invests in structured
notes whose value is based on the price movements of a physical
commodity, a commodity futures contract or commodity index, or some
other readily measurable economic variable. A structured note is a type of
debt instrument in which an issuer borrows money from the investor, in
this case the Fund, and pays back the principal adjusted for performance
of the underlying index less a fee. The structured notes may be leveraged,
increasing the volatility of each note's value relative to the change in the
underlying linked financial element. The value of these notes will rise and
fall in response to changes in the underlying commodity or related index
or investment. Fluctuations in value of these securities are recorded as
unrealized gains and losses in the accompanying financial statements. Net
payments are recorded as net realized gains/losses. These notes are
subject to prepayment, credit and interest rate risks. The Fund has the
option to request prepayment from the issuer on a daily basis. At maturity,
or when a note is sold, the Fund records a realized gain or loss. At
December 31, 2007, the value of these securities comprised 20.6% of the
Fund's net assets and resulted in unrealized appreciation of $12,587,427.

Federal Income Taxes. The Fund's policy is to comply with the
requirements of the Internal Revenue Code, as amended, which are
applicable to regulated investment companies and to distribute all of its
taxable income to its shareholders. Accordingly, the Fund paid no federal
income taxes and no federal income tax provision was required.

Additionally, based on the Fund's understanding of the tax rules and rates
related to income, gains and transactions for the foreign jurisdictions in
which it invests, the Fund will provide for foreign taxes, and where
appropriate, deferred foreign taxes.

The Fund has reviewed the tax positions for each of the three open tax
years as of June 30, 2007 and has determined that no provision for
income tax is required in the Fund's financial statements. Each of the
Fund's federal tax returns for the prior three fiscal years remains subject
to examination by the Internal Revenue Service.

Distribution of Income and Gains. Net investment income of the Fund, if
any, is declared and distributed to shareholders annually. Net realized
gains from investment transactions, in excess of available capital loss
carryforwards, would be taxable to the Fund if not distributed, and,
therefore, will be distributed to shareholders at least annually.

The timing and characterization of certain income and capital gains
distributions are determined annually in accordance with federal tax
regulations which may differ from accounting principles generally
accepted in the United States of America. These differences primarily
related to securities sold at a loss. As a result, net investment income
(loss) and net realized gain (loss) on investment transactions for a
reporting period may differ significantly from distributions during such
period. Accordingly, the Fund may periodically make reclassifications
among certain of its capital accounts without impacting the net asset
value of the Fund.

The tax character of current year distributions will be determined at the
end of the current fiscal year.

Contingencies. In the normal course of business, the Fund may enter into
contracts with service providers that contain general indemnification
clauses. The Fund's maximum exposure under these arrangements is
unknown as this would involve future claims that may be made against
the Fund that have not yet been made. However, based on experience,
the Fund expects the risk of loss to be remote.

Other. Investment transactions are accounted for on a trade date plus one
basis for daily net asset value calculations. However, for financial reporting
purposes, investment security transactions are reported on trade date.
Interest income is recorded on the accrual basis. Dividend income is
recorded on the ex-dividend date net of foreign withholding taxes. Certain
dividends from foreign securities may be recorded subsequent to the
ex-dividend date as soon as the Fund is informed of such dividend.
Realized gains and losses from investment transactions are recorded on
an identified cost basis.

B. Purchases and Sales of Securities

During the six months ended December 31, 2007, purchases and sales of
investment securities (excluding short-term investments) aggregated
$167,895,398 and $210,923,081, respectively.

For the six months ended December 31, 2007, transactions for written
options on securities were as follows:

|                                 | Contract
Amounts | Premium     
|-------------------------------- | ---------------- | ------------
|Outstanding, beginning of period |                 | $          
|Options written                  | 1,354            | 340,496     
|Options closed                   | (946)            | (104,114)   
|End of period                    | 408              | $    236,382

C. Related Parties

Investment Management Agreement. Under the Management
Agreement with Deutsche Investment Management Americas Inc.
("DIMA" or the "Manager"), an indirect, wholly owned subsidiary of
Deutsche Bank AG, the Manager directs the investments of the Fund in
accordance with its investment objectives, policies and restrictions. The
Manager determines the securities, instruments and other contracts
relating to investments to be purchased, sold or entered into by the Fund.
In addition to portfolio management services, the Manager provides
certain administrative services in accordance with the Management
Agreement. The management fee payable under the Management
Agreement is equal to an annualized rate of 0.90% of the Fund's average
daily managed assets (i.e., the net asset value of Fund common shares
plus the liquidation preference of any Fund preferred shares and the
principal amount of any borrowings used for leverage), computed and
accrued daily and payable monthly.

Service Provider Fees. DWS Scudder Investments Service Company
("DWS-SISC"), an affiliate of the Manager, is the transfer agent and
dividend-disbursing agent for the common shares of the Fund. Pursuant
to a sub-transfer agency agreement between DWS-SISC and DST
Systems, Inc. ("DST"), DWS-SISC has delegated certain transfer agent
and dividend-disbursing agent functions to DST. DWS-SISC compensates
DST out of the shareholder servicing fee it receives from the Fund. For
the six months ended December 31, 2007, the amount charged to the
Fund by DWS-SISC aggregated $7,934, of which $2,706 is unpaid.

DWS Scudder Fund Accounting Corporation ("DWS-SFAC"), an affiliate of
the Manager, is responsible for determining the daily net asset value per
share and maintaining the portfolio and general accounting records of the
Fund. Pursuant to a sub-accounting agreement between DWS-SFAC and
State Street Bank and Trust Company ("SSB"), DWS-SFAC has delegated
certain fund accounting functions to SSB. DWS-SFAC compensates SSB
from the accounting service fee it receives from the Fund. The amount
charged to the Fund for the six months ended December 31, 2007 by
DWS-SFAC aggregated $124,325, of which $20,511 is unpaid.

Directors' Fees and Expenses. As compensation for his or her services,
each Independent Director receives an aggregated annual fee, plus a fee
for each meeting attended (plus reimbursement for reasonable
out-of-pocket expenses incurred in connection with his or her attendance
at board and committee meetings) from each fund in the Fund Complex
for which he or she serves. In addition, the Chairperson of the Board and
the Chairperson of each committee of the Board receives additional
compensation for their services. Payment of such fees and expenses is
allocated among all such funds described above in direct proportion to
their relative net assets.

Typesetting and Filing Service Fees. Under an agreement with DIMA,
DIMA is compensated for providing typesetting and certain regulatory
filing services to the Fund. For the six months ended December 31, 2007,
the amount charged to the Fund by DIMA included in the Statement of
Operations under "reports to shareholders" aggregated $6,560, all of
which is unpaid.

Cash Management QP Trust. Pursuant to an Exemptive Order issued by
the SEC, the Fund may invest in the Cash Management QP Trust (the
"QP Trust") and other affiliated funds managed by the Manager. The QP
Trust seeks to provide as high a level of current income as is consistent
with the preservation of capital and the maintenance of liquidity. The QP
Trust does not pay the Manager a management fee for the affiliated funds'
investments in the QP Trust.

D. Line of Credit

The Fund and other affiliated funds (the ``Participants'') share in a
$750 million revolving credit facility administered by JPMorgan Chase
Bank N.A. for temporary or emergency purposes. The Participants are
charged an annual commitment fee which is allocated, pro rata based
upon net assets, among each of the Participants. Interest is calculated
at the Federal Funds Rate plus 0.35 percent. The Fund may borrow up to
a maximum of 33 percent of its net assets under the agreement.

E. Investing in Securities and Derivatives Linked to the
Commodities Market

The Fund invests primarily in equity securities issued by companies in
commodities-related industries and commodities-linked securities related
to such companies. Because of this, it is subject to the risks associated
with its concentration in securities of issuers in commodities-related
industries. The stocks of companies in commodities-related industries
may underperform the stock market as a whole. The stock prices of
companies in commodities-related industries may also experience greater
price volatility than other types of common stocks. Securities issued by
companies in commodities-related industries are sensitive to changes in
the prices of, and in supply and demand for, commodities. The value of
securities issued by companies in commodities-related industries may be
affected by changes in overall market movements, changes in interest
rates, or factors affecting a particular industry or commodity, such as
drought, floods, weather, livestock disease, embargoes, tariffs, policies of
commodity cartels and international economic, political and regulatory
developments.

The Fund also invests in commodities-linked structured notes.
Commodities-linked structured notes provide exposure to the investment
returns of "real assets" (i.e., assets that have tangible properties) that
trade in commodities markets without investing directly in physical
commodities. The commodities-linked structured notes and futures
contracts in which the Fund invests are hybrid instruments that have
substantial risks, including risk of loss of a significant portion of their
principal value. Because the performance of these notes is linked to the
performance of the underlying commodity prices, these investments are
subject to market risks that relate to the movement of prices in the
commodities markets. They may be subject to additional special risks that
do not affect traditional equity and debt securities, and those risks may be
greater than or in addition to the risks of derivatives in general.

F. Tender Offer Programs

The Fund's Board of Directors has authorized, subject to applicable
law, a program of tender offers for the Fund's common shares for six
consecutive semiannual periods of operation beginning with the
semiannual period ending December 2005. In the event that the common
shares have traded at an average discount from net asset value of more
than 10% for the twelve weeks immediately preceding the end of the first
quarter of such semiannual period (i.e., the first calendar quarter and the
third calendar quarter), the Fund, under normal circumstances and subject
to certain conditions, will make offers to purchase up to 5% of its
outstanding common shares at or near their net asset value from all
beneficial shareholders. At the time of any such tender offer, the Board of
Directors, considering facts and circumstances existing at such time, will
determine the amount of such offer. The Board of Directors reserves the
right to modify the conditions described in this paragraph in light of
experience and other factors. The Board of Directors also will consider,
from time to time as conditions and circumstance warrant, additional
tender offers for the Fund's outstanding shares. There is no guarantee
that the Board of Directors will authorize such additional tender offers. In
addition, the Board of Directors may consider from time to time open
market repurchases of the Fund's outstanding common shares.

On December 22, 2006, the Fund commenced a third tender offer for up
to 5% of its issued and outstanding shares of common stock. The tender
offer expired on January 31, 2007. The Fund accepted, after adjusting for
fractional shares in accordance with the terms of the offer, 1,171,987
properly tendered shares at a price equal to 98% of the net asset value on
the next business day after the offer expired. Approximately 14,091,218
shares of common stock, or approximately 60% of the Fund's common
stock outstanding, were tendered through the stated expiration date.
Under the final pro-ration calculation, 8.31717% of the tendered shares
were properly tendered and accepted for payments. The shares accepted
for tender received cash at a repurchase offer price of $17.445, which is
equal to 98% of the Fund's net asset value on February 1, 2007.

On June 11, 2007, the Fund commenced a fourth tender offer for cash for
up to 5% of its issued and outstanding shares of common stock. The
tender offer expired on July 17, 2007. The Fund accepted after adjusting for
fractional shares in accordance with the terms of the offer, 1,113,387
properly tendered shares at a price equal to 98% of the net asset value on
the next business day after the offer expired. Approximately 13,753,961
shares of common stock, or approximately 62% of the fund's common
shares outstanding, were tendered through the expiration date. Under the
final pro-ration calculation, 8.09499% of the tendered shares were
properly tendered and accepted for payments. The shares accepted for
tender received cash at a repurchase price of $21.795, which is equal to
98% of the Fund's net asset value on July 18, 2007.

On December 28, 2007, the fund commenced a fifth tender offer for cash
for up to 5% of its issued and outstanding shares of common stock. The
tender offer expired on February 6, 2008. The Fund accepted after
adjusting for fractional shares in accordance with the terms of the offer,
1,057,718 properly tendered shares at a price equal to 98% of the net
asset value on the next business day after the offer expired. Approximately
12,595,892 shares of common stock, or approximately 59% of the fund's
common shares outstanding, were tendered through the expiration date.
Under the final pro-ration calculation, 8.39737% of the tendered shares
were properly tendered and accepted for payments. The shares accepted
for tender received cash at a repurchase price of $17.814, which is equal
to 98% of the Fund's net asset value on February 7, 2008.

G. Revenue Rulings

The fund obtained a private letter ruling from the IRS confirming that the
income and gain arising from certain types of commodities-linked
structured notes in which the fund invests constitute "qualifying income"
under the Internal Revenue Code of 1986, as amended.

Dividend Reinvestment and Cash
Purchase Plan

The Plan

The fund's Dividend Reinvestment and Cash Purchase Plan (the "Plan")
offers you an automatic way to reinvest your dividends and capital gain
distributions in shares of the fund. The Plan also provides for cash
investments in fund shares of $100 to $3,000 semiannually through
DWS Scudder Investments Service Company or its delegate (the
"Transfer Agent") and Computershare Inc.* (the "Plan Agent"). The
Transfer Agent provides record keeping services for participants in the
Plan. If you would like a copy of the Plan, please call the Transfer Agent at
(800) 294-4366.

Automatic Participation

Each stockholder of record is automatically a participant in the Plan unless
the stockholder has instructed the Transfer Agent in writing otherwise.
Such notice must be received by the Transfer Agent not less than 10 days
prior to the record date for a dividend or distribution in order to be
effective with respect to that dividend or distribution. A notice which is
not received by that time will be effective only with respect to subsequent
dividends and distributions.

Stockholders who do not participate in the Plan will receive all
distributions in cash paid by check in dollars mailed directly to the
stockholder by the Transfer Agent, as dividend paying agent.

Shares Held by a Nominee

If your shares are held in the name of a brokerage firm, bank, or other
nominee as the stockholder of record, please consult your nominee (or
any successor nominee) to determine whether it is participating in the
Plan on your behalf. Many nominees are generally authorized to receive
cash dividends unless they are specifically instructed by a client to
reinvest. If you would like your nominee to participate in the Plan on your
behalf, you should give your nominee instructions to that effect as soon
as possible.

Pricing of Dividends and Distributions

If the market price per share on the payment date for the dividend or
distribution (the "Valuation Date") equals or exceeds net asset value per
share on that date, the fund will issue (i) shares of the fund's common
stock that are issued but not outstanding ("Treasury Stock") to the extent
shares of Treasury Stock are available, and then (ii) to the extent shares of
Treasury Stock are not available, newly issued shares of the fund's
common stock to participants at the greater of the following on the
Valuation Date: (a) net asset value or (b) 95% of the market price. The
Valuation Date will be the dividend or distribution payment date or, if that
date is not a New York Stock Exchange trading date, the next preceding
trading date. If the net asset value exceeds the market price of fund
shares at such time, the Plan Agent will use the dividend or distribution
(less each participant's pro rata share of brokerage commissions) to buy
fund shares in the open market for the participants' account. Such
purchases will be made on or shortly after the payment date for such
dividend or distribution, and in no event more than 45 days after such date
except where temporary curtailment or suspension of purchase is
necessary to comply with federal securities law. In either case, for federal
income tax purposes, the stockholder receives a distribution equal to the
market value on the Valuation Date of new shares issued. State and local
taxes may also apply. If the fund should declare an income dividend or net
capital gain distribution payable only in cash, the Plan Agent will, as agent
for the participants, buy fund shares in the open market, on the New York
Stock Exchange or elsewhere, for the participants' account on, or shortly
after, the payment date.

Voluntary Cash Purchases

Participants in the Plan have the option of making additional cash
payments to the Transfer Agent, semiannually, in any amount from $100
to $3,000, for investment in the fund's shares. The Plan Agent will use all
such monies received from participants to purchase fund shares in the
open market on or about February 15 and August 15. Any voluntary cash
payments received more than 30 days prior to these dates will be
returned by the Transfer Agent, and interest will not be paid on any
uninvested cash payments. To avoid unnecessary cash accumulations,
and also to allow ample time for receipt and processing by the Transfer
Agent, it is suggested that participants send in voluntary cash payments
to be received by the Transfer Agent approximately ten days before
February 15, or August 15, as the case may be. A participant may
withdraw a voluntary cash payment by written notice, if the notice is
received by the Transfer Agent not less than 48 hours before such
payment is to be invested.

Participant Plan Accounts

The Transfer Agent maintains all participant accounts in the Plan and
furnishes written confirmation of all transactions in the account, including
information needed by participants for personal and tax records. Shares in
the account of each plan participant will be held by the Transfer Agent in
non-certificated form in the name of the participant, and each participant
will be able to vote those shares purchased pursuant to the Plan at a
stockholder meeting or by proxy.

No Service Fee to Reinvest

There is no service fee charged to participants for reinvesting dividends or
distributions from net realized capital gains. The Plan Agent's and/or
Transfer Agent's fees for the handling of the reinvestment of dividends
and capital gain distributions will be paid by the fund. There will be no
brokerage commissions with respect to shares issued directly by the fund
as a result of dividends or capital gain distributions payable either in stock
or in cash. However, participants will pay a pro rata share of brokerage
commissions incurred with respect to the Plan Agent's open market
purchases in connection with the reinvestment of any dividends or capital
gain distributions.

Costs for Cash Purchases

With respect to purchases of fund shares from voluntary cash payments,
each participant will be charged $1.00 for each such purchase. Each
participant will pay a pro rata share of brokerage commissions incurred
with respect to the Plan Agent's open market purchases of fund shares in
connection with voluntary cash payments made by the participant.

Brokerage charges for purchasing small amounts of stock for individual
accounts through the Plan are expected to be less than the usual
brokerage charges for such transactions, because the Plan Agent will be
purchasing stock for all participants in blocks and pro-rating the lower
commission thus attainable.

Amendment or Termination

The fund reserves the right to terminate the Plan. Notice of the
termination will be sent to the participants of the Plan at least 30 days
before the record date for a dividend or distribution. The Plan also may be
amended by the fund, but (except when necessary or appropriate to
comply with applicable law, rules or policies of a regulatory authority) only
by giving at least 30 days' written notice to participants in the Plan.

A participant may terminate his account under the Plan by written notice
to the Transfer Agent. If the written notice is received 10 days before the
record day of any distribution, it will be effective immediately. If received
after that date, it will be effective as soon as possible after the
reinvestment of the dividend or distribution.

If a participant elects to sell his shares before the Plan is terminated, the
Plan Agent is authorized to deduct a fee of 5% of the gross proceeds, to a
maximum of $3.50, plus brokerage commissions from the sale
transaction.

Transfer Agent Address and Telephone Number

You may obtain more detailed information by requesting a copy of the
Plan from the Transfer Agent. All correspondence (including notifications)
should be directed to: DWS Global Commodities Stock Fund, Inc.
Dividend Reinvestment and Cash Purchase Plan, c/o DWS Scudder
Investments Service Company, P.O. Box 219066, Kansas City, MO
64121-9066, (800) 294-4366.

Stockholder Meeting Results

The Annual Meeting of Stockholders of DWS Global Commodities Stock
Fund, Inc. (the "fund") was held on October 19, 2007, at the offices of
Deutsche Asset Management, 345 Park Avenue, New York, NY 10154.
The following matter was voted upon by the stockholders of said fund (the
resulting votes presented below):

1.       To elect the following four individuals as Class II Directors of the fund
to hold office for a term of three years and until their respective
successors have been duly elected and qualified.

|                       | Number of Votes:
|---------------------- | ----------------
|Trustee                | For             
|Keith R. Fox           | 16,828,048      
|Kenneth C. Froewiss    | 16,836,480      
|Richard J. Herring     | 16,835,042      
|Jean Gleason Stromberg | 16,827,284      

Investment Management Agreement
Approval

The Fund's Directors approved the continuation of the Fund's current
investment management agreement with DIMA in September 2007.

In terms of the process that the Directors followed prior to approving the
agreement, shareholders should know that:

At the present time, all but one of your Fund's Directors are
independent of DIMA and its affiliates.

The Directors meet frequently to discuss fund matters. Each year, the
Directors dedicate part or all of several meetings to contract review
matters. In connection with reviewing the Fund's investment
management agreement, the Directors also review the terms of the
Fund's administration agreement, transfer agency agreement and
other material service agreements.

In connection with the Board's 2007 contract review, the Board formed
a special committee to facilitate careful review of the funds'
contractual arrangements. After reviewing the Fund's arrangements,
that committee recommended that the Board vote to approve the
continuation of the Fund's investment management agreement.

The Directors regularly meet privately with their independent counsel
to discuss contract review and other matters. In addition, the Directors
were also advised by two consultants, including the Fund's
independent fee consultant, in the course of their 2007 review of the
Fund's contractual arrangements. In particular, the Directors
considered the report prepared by the independent fee consultant in
connection with their deliberations.

The Directors believe that a long-term relationship with a capable,
conscientious advisor is in the best interest of shareholders. As you may
know, DIMA is part of Deutsche Bank, a major global banking institution
that is engaged in a wide range of financial services. The Directors believe
that there are significant advantages to being part of a global asset
management business that offers a wide range of investing expertise and
resources, including hundreds of portfolio managers and analysts with
research capabilities in many countries throughout the world.

Shareholders may focus primarily on fund performance and fees, but the
Fund's Directors consider these and many other factors, including the
quality and integrity of DIMA's personnel and such other issues as
back-office operations, fund valuations, and compliance policies and
procedures.

In determining to approve the continuation of the Fund's current
investment management agreement, the Board considered all factors that
it believes relevant to the interests of Fund shareholders, including:

The investment management fee schedule for the Fund, including
(i) comparative information provided by Lipper regarding investment
management fee rates paid to other investment advisors by similar
funds and (ii) fee rates paid to DIMA by similar funds and
institutional accounts advised by DIMA (if any).With respect to
management fees paid to other investment advisors by similar funds,
the Directors noted that the contractual fee rates paid by the Fund
were lower than the median (1st quartile) of the applicable Lipper peer
group (based on Lipper data provided as of December 31, 2006). The
Board gave a lesser weight to fees paid by similar institutional
accounts advised by DIMA, in light of the material differences in the
scope of services provided to registered investment companies as
compared to those provided to institutional accounts. Taking into
account the foregoing, the Board concluded that the fee schedule in
effect for the Fund represents reasonable compensation in light of the
nature, extent and quality of the investment services being provided to
the Fund. The Board also concluded that any existing economies of
scale enjoyed by DIMA were reflected in the Fund's investment
management fee arrangements, and that in light of the Fund's
closed-end structure there were limited opportunities for future
material growth.

The total operating expenses of the Fund.In this regard, the Board
noted that the total (net) operating expenses of the Fund are expected
to be lower than the median (2nd quartile) of the applicable Lipper
expense universe (based on Lipper data provided as of December 31,
2006).

The investment performance of the Fund and DIMA, both absolute
and relative to various benchmarks and industry peer groups.The
Board noted that for the one-year period ended December 31, 2006,
the Fund's performance was in the 3rd quartile of the applicable Lipper
universe. The Board also observed that the Fund has underperformed
its benchmark in the one-year period ended December 31, 2006. The
Board recognized that DIMA has made significant changes in its
investment personnel and processes in recent years in an effort to
improve long-term performance.

The nature, extent and quality of the advisory services provided by
DIMA.The Board considered extensive information regarding DIMA,
including DIMA's personnel (including particularly those personnel with
responsibilities for providing services to the Fund), resources, policies
and investment processes. The Board also considered the terms of
the current investment management agreement, including the scope
of services provided under the agreement. In this regard, the Board
concluded that the quality and range of services provided by DIMA
have benefited and should continue to benefit the Fund and its
shareholders.

The costs of the services to, and profits realized by, DIMA and its
affiliates from their relationships with the Fund.The Board reviewed
information concerning the costs incurred and profits realized by DIMA
during 2006 from providing investment management services to the
Fund (and, separately, to the entire DWS Scudder fund complex), and
reviewed with DIMA the cost allocation methodology used to
determine DIMA's profitability. In analyzing DIMA's costs and profits,
the Board also reviewed the fees paid to and services provided by
DIMA and its affiliates with respect to administrative services, transfer
agent services, shareholder servicing and distribution (including fees
paid pursuant to 12b-1 plans), as well as information regarding other
possible benefits derived by DIMA and its affiliates as a result of
DIMA's relationship with the Fund. As part of this review, the Board
considered information provided by an independent accounting firm
engaged to review DIMA's cost allocation methodology and
calculations. The Board concluded that the Fund's investment
management fee schedule represented reasonable compensation in
light of the costs incurred by DIMA and its affiliates in providing
services to the Fund. The Board also reviewed information regarding
the profitability of certain similar investment management firms. The
Board noted that while information regarding the profitability of such
firms is limited (and in some cases is not necessarily prepared on a
comparable basis), DIMA and its affiliates' overall profitability with
respect to the DWS Scudder fund complex (after taking into account
distribution and other services provided to the funds by DIMA and its
affiliates) was lower than the overall profitability levels of many
comparable firms for which such data was available.

The practices of DIMA regarding the selection and compensation of
brokers and dealers executing portfolio transactions for the Fund.The Board considered that a portion of the Fund's brokerage may be
allocated to affiliates of DIMA, subject to compliance with applicable
SEC rules. The Board also considered that, subject to ongoing review
by the Board, a limited portion of the Fund's brokerage may be
allocated to brokers who acquire (and provide to DIMA and its
affiliates) research services from third parties that are generally useful
to DIMA and its affiliates in managing client portfolios. The Board
indicated that it would continue to monitor the allocation of the Fund's
brokerage to ensure that the principle of "best price and execution"
remains paramount in the portfolio trading process.

DIMA's commitment to and record of compliance, including its
written compliance policies and procedures.In this regard, the Board
considered DIMA's commitment to indemnify the Fund against any
costs and liabilities related to lawsuits or regulatory actions arising
from allegations regarding market timing, revenue sharing, fund
valuation or other subjects arising from or relating to pending
regulatory inquiries. The Board also considered the significant attention
and resources dedicated by DIMA to documenting and enhancing its
compliance processes in recent years. The Board noted in particular (i)
the experience and seniority of DIMA's chief compliance officer; (ii) the
large number of compliance personnel who report to DIMA's chief
compliance officer; and (iii) the substantial commitment of resources
by DIMA and its affiliates to compliance matters.

Deutsche Bank's commitment to its US mutual fund business.The
Board considered recent and ongoing efforts by Deutsche Bank to
restructure its US mutual fund business to improve efficiency and
competitiveness and to reduce compliance and operational risk. The
Board considered assurances received from Deutsche Bank that it
would commit the resources necessary to maintain high-quality
services to the Fund and its shareholders. The Board also considered
Deutsche Bank's strategic plans for its US mutual fund business, the
potential benefits to Fund shareholders and Deutsche Bank's
management of one of Europe's most successful fund groups.

Based on all of the foregoing, the Board determined to continue the
Fund's current investment management agreement, and concluded that
the continuation of such agreement was in the best interests of the
Fund's shareholders.

In reaching this conclusion the Board did not give particular weight to any
single factor identified above. The Board considered these factors over the
course of numerous meetings, many of which were in executive session
with only the Independent Directors and their counsel present. It is
possible that individual Directors may have weighed these factors
differently in reaching their individual decisions to approve the
continuation of the current agreement.

Investment Manager

Deutsche Investment Management Americas Inc. ("DIMA"), with
headquarters at 345 Park Avenue, New York, NY, is the investment
manager for the fund. DIMA is part of Deutsche Asset Management.
DIMA and its predecessors have more than 80 years of experience
managing mutual funds. DIMA provides a full range of investment
advisory services to institutional and retail clients.

Deutsche Asset Management is the marketing name in the US for the
asset management activities of Deutsche Bank AG, Deutsche Bank Trust
Company Americas, DIMA and DWS Trust Company.

Deutsche Asset Management is a global asset management organization
that offers a wide range of investing expertise and resources, including
hundreds of portfolio managers and analysts and an office network that
reaches the world's major investment centers. This well-resourced global
investment platform brings together a wide variety of experience and
investment insight across industries, regions, asset classes and investing
styles.

DIMA is an indirect, wholly owned subsidiary of Deutsche Bank AG.
Deutsche Bank AG is a major global banking institution that is engaged in
a wide range of financial services, including investment management,
mutual funds, retail, private and commercial banking, investment banking
and insurance.

Privacy Statement

This privacy statement is issued by DWS Scudder Distributors, Inc.,
Deutsche Investment Management Americas Inc., DeAM Investor
Services, Inc., DWS Trust Company and the DWS Funds.

We never sell customer lists or individual client information. We consider
privacy fundamental to our client relationships and adhere to the
policies and practices described below to protect current and former
clients' information.Internal policies are in place to protect confidentiality,
while allowing client needs to be served. Only individuals who need to do
so in carrying out their job responsibilities may access client information.
We maintain physical, electronic and procedural safeguards that comply
with federal and state standards to protect confidentiality. These
safeguards extend to all forms of interaction with us, including the
Internet.

In the normal course of business, clients give us nonpublic personal
information on applications and other forms, on our Web sites, and
through transactions with us or our affiliates. Examples of the nonpublic
personal information collected are name, address, Social Security number
and transaction and balance information. To be able to serve our clients,
certain of this client information is shared with affiliated and nonaffiliated
third-party service providers such as transfer agents, custodians, and
broker-dealers to assist us in processing transactions and servicing your
account with us. In addition, we may disclose all of the information we
collect to companies that perform marketing services on our behalf or
to other financial institutions with which we have joint marketing
agreements. The organizations described above that receive client
information may only use it for the purpose designated by the DWS
Scudder Companies listed in the first paragraph of this Privacy Statement.

We may also disclose nonpublic personal information about you to other
parties as required or permitted by law. For example, we are required or
we may provide information to government entities or regulatory bodies in
response to requests for information or subpoenas, to private litigants in
certain circumstances, to law enforcement authorities, or any time we
believe it necessary to protect the firm.

Questions on this policy may be sent to:

DWS Scudder  
Attention: Correspondence  Chicago
P.O. Box 219415
Kansas City, MO  64121-9415

September 2007

Notes

Notes

Notes

gcs_backcover0



ITEM 2.
        CODE OF ETHICSNot applicable.ITEM 3.
        AUDIT COMMITTEE FINANCIAL EXPERTNot applicable.ITEM 4.
        PRINCIPAL ACCOUNTANT FEES AND SERVICESNot applicable.




ITEM 5.
        AUDIT COMMITTEE OF LISTED REGISTRANTSNot ApplicableITEM 6.
        SCHEDULE OF INVESTMENTSNot ApplicableITEM 7.
        DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIESNot applicable.ITEM 8.
        PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIESNot applicable.








ITEM 9.
        PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS




DWS Global Commodities Stock Fund, Inc.Item 9 of Form N-CSR - Repurchase Disclosure(a)
        (b)
        (c)
        (d)Total Number of Shares Purchased
        Average Price Paid per Share
        Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
        Maximum Number of Shares that May Yet Be Purchased Under the Plans or ProgramsPeriodJuly 1 through July 31
        1,113,384
        $21.8000
        1,113,387
        n/aAugust 1 through August 31
        0
        $0.0
        n/a
        n/aSeptember 1 through September 30
        0
        $0.0
        n/a
        n/aOctober 1 through October 31
        0
        $0.0
        n/a
        n/aNovember 1 through November 30
        0
        $0.0
        n/a
        n/aDecember 1 through December 31
        0
        $0.0
        n/a
        n/aTotal
        1,113,384
        $21.8000
        1,113,387
        n/a* On June 11, 2007 the Fund announced and commenced a cash tender offer.  The Fund approved the tender offer for up to 1,113,387 of its shares of common stock, representing approximately 5% of its outstanding shares.  This tender offer expired on July 17, 2007 and 1,113,384 shares were tendered.










ITEM 10.
        SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERSThe Committee on Independent Trustees/Directors selects and nominates Independent Trustees/Directors. Fund shareholders may submit nominees that will be considered by the committee when a Board vacancy occurs. Submissions should be mailed to: c/o Dawn-Marie Driscoll, PO Box 100176, Cape Coral, FL 33910.ITEM 11.
        CONTROLS AND PROCEDURES(a)        The Chief Executive and Financial Officers concluded that the Registrant's Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.(b)        There have been no changes in the registrant's internal control over financial reporting that occurred during the registrant's last half-year (the registrant's second fiscal half-year in the case of the annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal controls over financial reporting.ITEM 12.
        EXHIBITS(a)(1)   Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.(b)       Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT.










Form N-CSRS Item F



SIGNATURES



Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.



Registrant:
        DWS Global Commodities Stock Fund, Inc.




By:
        /s/Michael G. Clark


Michael G. Clark


President



Date:
        February 29, 2008






Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.



Registrant:
        DWS Global Commodities Stock Fund, Inc.




By:
        /s/Michael G. Clark


Michael G. Clark


President



Date:
        February 29, 2008






By:
        /s/Paul Schubert


Paul Schubert


Chief Financial Officer and Treasurer



Date:
        February 29, 2008