I'm not the only one who's bearish everything then?

It is of note that the big bull run started a little earlier on wheat than it did on corn & soybeans. Wheat started it's rally in June 2006, with beans and corn getting going round October 2006. Maybe its a coincidence that wheat appears started its retracement a few months earlier as well?

Ray Grabanski: Is the grain bull market ending?

The grain bull market has had a strong 20 month run higher, taking corn from $2.50 futures to $6.50, soybeans from $5 to $15, and wheat from $4 to $13.

This was a amazing feat to propel grains to 3x their value in less than 2 years. Today, no one can seem to see any reason for a bear market to develop, so perhaps that makes it even more likely to be true! The contrarian view of the markets, in fact, would suggest this is exactly the time that commodity prices can top - when virtually everyone who wanted to buy them already has!

Let's look at some signs that may be suggesting that the grain markets (and perhaps even oil/energy markets) have accomplished what they needed to by taking prices 3x higher than they were less than 2 years ago:

Full article here