CANOLA QUESTION?

[dnach]

How much canola out there was not affected by frost? The Canola council has issued a speacial frost bullitin yesterday, very good info. I hope others do not find what we are, and my therm. read 0.

[sewen]

My thermometer also read 0 degrees and the potatoes are completely black now. Closest weather station is Lloydminster and they recorded 2 degrees. Some canola showing signs of damage already.

[crusher]

Northeast of Edmonton the coldest we have dropped to is 3. We will likely commence swathing canola within the week. Got more hail when the cold front came through last night, but haven't checked for damage.

[charliep]

Hopefully nobody minds if I try to turn market observations into market actions/strategies (one conscious decision of which may be to do nothing).

If you have cash flow covered with booked sales, then there is no pressure. If you have cash requirements for Oct./Nov., what should a person do? Sell cash (maybe pushing to early 2005)? Buy WCE puts? Futures month/strike price? Sell cash/buy calls? Sell calls? May seem weird to put a buy/sell call recommendation in the same strategy thought but their may be a place for both depending on your goal.