New crop '08 wheat is $6.39 here.  On the board Jul08 is $1.70 behind May08 and May08 is still going up.  Looks like a lot of upside potential yet so I'm not locking in any prices yet.  I'll lock after the peak and ride the slide.

Been looking at Jul08 and Sep08 puts which are looking more attractive for flooring cash sales. 

Interesting that the futures trend lines are following historic lines right now, only with a large offset in price, about $5.50, which makes the ups a little steeper.  Should be interesting in January.