The charge is on.......canola to follow???

[JD4ME]

As I write this November Beans are 7.65 in overnight trade, even with the rise last week in the dollar roughly 9.40 Canadian. Yes I said $9.40 (At a 1.23 exchange rate).
Also of note oil is up .50 cents so Canola should open higher, unless the rally goes boom in the night....think I'll raise that GPO again..........Charlies going to tell me I'm not following my marketing plan.
It's a shame we can't put a stop loss under a rising market like this or can we...........

[charliep]

Maybe the strategy should be to buy some puts. WCE canola options may be tough to buy but CBT soybeans/soyoil may also work. Grain companies may be offering some innovative minimum price contracts.

If you really believe that canola is undervalued, buy canola futures and sell soyoil/soybeans (play the spread). Pretty gutsy/won't do myself but may work.

What are others thoughts?

[Incognito]

Bookmark this:

http://weather.cod.edu/forecast/ECMWF/ecmwf_850_temp_168.gif

[JD4ME]

The rally's still got life Beans are moving higher overnight and now most contracts are either at or flirting with contract highs.

[charliep]

Just a note it is a market that blasted higher, couldn't sustain during the day (small plus numbers at the close). Bull markets have to be fed large volumes of good news. Having said that, tis the season of weather.

I almost observe corn during this period more than soybeans (more critical during July). December corn at $2.50/bu is too expensive if the crop is good but perhaps (not guaranteed) cheap with weather problems.

Incognito - Have looked at the maps/need help with interpretation. Does this site provide written commentary?

[Incognito]

http://weather.cod.edu