wheat basis levels

[dfarms11]

was just on cwb.ca and noticed that cwrs basis levels, dec,mar and july were all around and above $34. Looking back at all of 04 chart they ranged anywhere from the mid 20's to low 30's. Should one be locking in a basis for my wheat? Is it reasonable to think that this is the high looking at 04 basis levels? Now I know that nobody wants to say do it because you never know what the future will hold, but if anyone here, keeps track of this stuff over the years I would really like a good opinion. thanks, Dwayne

[TOM4CWB]

Dwayne;

If the basis is good, and the US experts are all saying sell, why wouldn't you sell the wheat?

I have seen many folks caught in a squeeze because the basis was good but they got rolled into new positions... month after month... only to be sold out in June or July at a low price.

Have a plan, know what you need for a profit, and don't get greedy.

No producer ever went broke selling at a profit!