Commodities - Truth and Lies - Let's kill the lie, on cotton to start!

What's telling us Cotton prices over 30 years of free markets, yes we have had high and lows, lots of that, but hell no, cotton hasn't doubled, cotton is cheap today, much cheaper than it was 30 years ago by a big margin, check it out : (US cents per pound)
December 1980 : 99.16
December 2010 : 168.24
100 - 1980 worth 264.63 2010 (CPI inflation)

Conclusion :

Cotton is more than 50% cheaper than it was in 1980. What does it tell us? Producers have made tremendous efforts raising both production and productivity lowering prices and commodities markets have contributed worldwide to the results helping prices to adjust to demand and offer.

Is it worth today, as we see somekind of a correction towards a better reward of raw producers still 50% cheaper today than it was 30 years ago, to declare commodities markets gone wild? Markets have a board and are chaired, there is no reason as of today to question their professionalism, margin calls can be raised on any given commodity seen overheating should the board witness normal trading altered by extreme speculative positions.

Frankly, looking at prices over the long term, no commodity are showing signs of over heated price due to trading.