Let’s peek at a few selected commodities and see exactly what magnitude these commodities have been making new lifetime highs.

Soybean prices (above) have virtually doubled since October 2007 and almost tripled since mid-2006.

Wheat prices have almost quadrupled since 2006, before pulling back recently.

Higher wheat prices affect consumers in a variety of ways, the most obvious being that the cost of bread and other food products will likely increase, as has the price of milk and eggs over the last year.

Finally, let’s view corn prices:

Thanks to the ethanol possibilities and other pressures, corn prices have almost tripled since 2006.

I highlighted a perverse bull flag on the weekly chart, which has actually exceeded its ‘measured move’ component recently, as price is making all-time contract highs.

Oil and Gold (not shown) are also making new highs and showing similar major uptrend patterns.

Will these prices affect the economy in terms of higher inflation for everyday goods?

It’s probable, but let’s see how long it takes for these realities to sink into the financial media and general public.

Corey
Afraid to Trade.com