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| You can't be talking about Chicago wheat. Your numbers do not reflect historical prices for wheat. What commodity are you referring to? I don't have the chart for 1974, but I would guess the price for wheat was around $6, cash. Chicago wheat for 1979 reached a high of $4.78 approximately. 1996 the high was for $7.50 for the last contract at the last minute of trading on the July contract. The price jumped $1.50 or maybe it was $2.50 for the last contract, so it shouldn't be considered. Charts show that it was the March contract that spiked, rather than July.
Pardon me, if I misunderstood what you said. If it makes no sense to me, then others may be having the same trouble.
http://www.mrci.com/pdf/w.pdf 30 year chicago wheat charts at this link
Edited by nemontana 12/18/2007 20:07
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march wheat 60 off highs:))
