Just quietly Sorgs, I think the WA crop is in real trouble as the forecast is pretty crappy. Crops are late, root systems aren't quite there yet to keep growing through these dry periods. We've had two month long dry periods since the start of the season. And we are now a week into what looks like another 3 week dry (minimum).
There is limited to no subsoil moisture. Most over here are focussing their marketing on 2013 where wheat prices are hovering around $300-310. Even when the front months are moving like this morning, Dec 13 is not really following suggesting there is a lot of hedging going on.
