Yes but buying corn and selling wheat right now is like standing in front of a train. Until the recent rally in Chi wheat reverses (which it may have after Friday, but i doubt it) you dont want be short. Problems with vomitoxin in the US SRW crop and drought in Russia and Kazahkstan (spelling?) not to mention huge fund buying have shorts running. The deal is chi wheat usually out paces corn and the other wheats in what ever direction it is going(fund money), so once it starts to break then you should get short Chi vs Corn, Minney, and KC.
40 to as high as 75 bushel yields in some parts of Kansas and the wheat rallied. Wow but Basis still stinks.
What's the largest you've ever seen the W:C ratio? On average I'm guessing its around 1.3. At what point does it get so high that farmers switch crops?