If you have been buying following this newsletter's trade recommendations, it is time to cover around 52.00 for half of your positions. I like to unload with profits, so we can protect what we have in the other positions. Sometimes, I like to do this to protect my clients for long-term trades that are stating to run into overhead resistance.

So stay long and call in for your stop points-and put a chunk of money in your account from the earlier buys.

As a footnote to my readers, many of you know from my columns how bullish I am on the very productive farmers in India. This year the cotton crop looks like it could double. This is why I'm a little nervous over our longs. I know demand has been very strong, but let's be careful out there.

Sugar:

This is now a balanced market. The demand for biofuels has placed a base for demand, and large planting has given the market a top. The penny to a penny and a half range makes for a hard trade. If you like it at the 8 ½ zone place equity stops and make the trade. Use my 3-to-1 method for stop choice.

OJ:       

We have been buying lotto tickets in the OJ pit! Orange groves in Florida had perfect weather to grow in the past few weeks. We have been building a call position going into hurricane season looking, for the big one that might just have landfall this year.

Cocoa:

Our old friend has been very good to us. We covered our shorts at 1866, and

we could be forming a bottom. I know that the rains in Africa have made the cocoa pods a little better, and we must watch this. But with consumption looking a little stronger, we could see a tough trading range.

Trade Recs:

Buy July for a short-term pop against 1860 with a stop below the line.

Coffee: I want you to sell coffee at 188.00 and risk about one-thousand dollars.

I think Asia will continue to come in heavy and allow us about 800 points off this rally.