Other grains, softs, oil, gold and inflation also up sharply today

Corn and wheat are also up sharply today. So were cotton and cocoa. In fact, wheat went lock limit UP just 10 minutes into the trading day, as this lower chart indicates. The flat line represents closed trading after the limit price was reached. Corn is also up significantly, as shown in the top chart in this post.

Inflation Grows in 2008

There is no reason or indicator evidence to suggest that the bull market in grains or other commodities is nearing exhaustion, with gold reaching multi-decade highs today, and oil nearing its all-time high of $99+ per barrel. I just feel sorry for U.S. consumers, who must still eat and fuel their homes and cars while their government continues to claim inflation is contained. The inflation monster is not only alive and well, it is lifting weights and ready to beat the Fed to a pulp, as the Fed continues to amplify the credit market problems.