Canola rally?

[furrowtickler]

Lets hope it keeps goin, and we get somewhat of a crop with what is in the ground.

[ado089]

There's still alot of preasure on beans so I don't know how far it will go, but every little bit helps.

[fjlip]

July must close above 393.50 to keep going up, perhaps after the 1" rain Thursday.

[LWeber]

Just short of 1 MMT in volume today - 980,300 MT; shattering the old record of 787,000 MT

[furrowtickler]

Panic setting in Larry?

[charliep]

Just curious what you will do with the rally.

Sit tight and do nothing?

Follow the market higher but run a trailing stop?

Sell at a target price?

Look at an options strategy (but a put) or a grain company minimum price contract?

[LWeber]

I think reality is setting in Furrow.

[agstar77]

Sell slowly into the rally.

[mcfarms]

9.25 new crop available today for spring 11 delivery. 9.00 off the combine . 9.09 old crop june july del. southern Ab.

[furrowtickler]

We are going to set targets and sell it. Everyones target is different.

[freewheat]

What am I gonna do with the rally? Sit and watch it pass me by. No seed in ground. A bit frustrating.

[Choice2U]

Freewheat....You have still have options...no pun intended. I bought a July call option in April (paid $8/Mt) because of the drought concerns. Now I'm close to making money because it is too wet (shows how smart I am...NOT). I just bought a Nov call option for $11/Mt (more than I wanted to pay but I'm close to making money as I bought the day after the first rally). If we get a strong rally with more weather scares, I'll benefit fully from the rally regardless of whether my canola gets hailed, frozen or whatever. You got to spend money to produce on ground and on paper. Still no guarantees and I could lose $20/Mt but I thought the risk was worth it because of the volatility. I deal in 60 - 100 Mt lot sizes. You can spend $800 (I could make $10K if canola moves to $500/Mt by June 26) or spend $8,000 on these options depending on your size and ability to handle the risk. As an aside, I got 70% of my canola acres planted.

[freewheat]

I know about options. Can you borrow from a bank to buy 'em? Otherwise I aint got 8 cents a tonne to spare... LOL

[Choice2U]

I would just move $2K from a L of C to your broker account. With little seeding, you won't be spending the $2K on inputs so use it to try and make something. I know its a risk but so is putting seed in the ground. Hopefully, your banker isn't watching your account that close.