Now here's the kicker though. There is a record short position in grains held by speculators, and as evidenced to some degree during Monday and Tuesday of last week, these specs are growing increasingly more cautious, especially as we go into the more volatile growing season. The possibility of a short term squeeze could send wheat's price well over $5.00 in the short term shoudl 80,000 contracts suddently be squeezed. Not to mention that there is proably some option pin risk on the expiring May contract that oculd pull prices to either $5.00 or $4.50 as we ear expiration. Between now and then my bet would be range bound between those levels, but weary of a possibile short squeeze.