Two things for your consideration:

1. Commodities are the last market of the Big Three (Bonds/debt, stocks, commodities/futures) that is holding up. Bonds and stocks are melting down.

The momentum traders will hop on any trading vehicle and ride it until the technical indications say "get out!"

2. The creation of new commodities ETF's and mutual funds that are easily traded on the stock exchanges means that billions of dollars can easily flow into/out of commodities in ways that it could not before. While everyone is enjoying the upside, I would counsel that many people putting money into the commodities ETF's are "fast money" -- ie, very quick to take profits and flee, and the downside movement could have a speed that people who spend lots of time looking at commodities markets are unaccustomed to seeing.

Last I heard, one commodity ETF had almost $9 billion in close-in contracts in ag softs. Never mind the oil, natural gas, metals, etc futures. Just ag softs.