Since last July the trade where we buy wheat versus selling corn has been very dependable. Historically Wheat trades between $1 and $3 higher than corn. During the July 2011 season as well as last September, December, and March, corn actually rose above wheat by anywhere from 10 - 20 cents. Each time wheat then Proceeded to gain on corn to anywhere4 from 25 to 30 cents over. May wheat is now 11 cents below corn with May corn at $6.60 and May Wheat at $6.49.

The Trade: Buy May wheat and sell May corn at Market (currently corn 11 cents over wheat) Protection: Exit the position if corn makes it to 25 cents above wheat (risk of 14 cents or $700 for full and $140 For a mini spread) Objective Exit the Trade when wheat reaches 20 cents above corn (31 cents = $1550 for full and $310 mini)