As we write this column, March 2011 corn futures closed at $6.87/bu., wheat at $8.53/bu., soybeans at $14.33/ bu., rice at $15.80/cwt, and cotton at $1.67/lb. We are seeing a second wave of a general price increase for commodities that began in late 2006 and saw its first peak in 2008, followed by a retrenchment.