KC wheat has rallied $4.50 in about a weeks’ time, that is a remarkable rally.

Todays high at $12 in the nearby KC chart is the second highest ever recorded, second only to 13.70 recorded back in 2008.

The bottom line is that prices across the globe are either near or at all-time record high levels and extreme caution is warranted as prices reach record highs and record large pull back can be expected as well.