Commodity prices will continue to escalate (also oil) so long as large commodity purchases are allowed by the market. All kinds of people/groups are buying large ETFs for things they have no intentions to ever use. Things like corn, wheat, oil, etc. should primarily be sold to end users like cereal companies, beef feed lots, airlines, etc. Only small positions in the market should be permitted for small traders only.
I was watching a 60 minutes clip that was talking about the last spike in gas costs. Huge influx of speculators led by Morgan Stanley. For each barrel of oil delivered, there were 27 barrels traded. Demand had gone down, supplies were fine yet gas shot up to $4.50 a gallon. The government threatened to start calling people to testify and the speculators fled the market.