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. We offset half our position and now it is time to offset all your July contracts.

Sugar

Sugar is now an on-balance market. The demand for Biofuels has placed a base for demand, and large planting has given the market a top. The chart seems to look like we have found a base, but I'm not so sure. I like selling pops in here and will stay short and add in to my position this week.

Stops above 10:50 for shorts.

OJ        

We have been buying lotto tickets in the OJ pit!  Orange groves in Florida have 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.

No change in net position.

Cocoa  

Take profits on long cocoa longs now! The cocoa market is at the top of the chart. The cool weather and fresh rains in Africa will get the pods' oil content up and help to get high-grade yields up. Take our last trade recommendation and bank it.

Coffee

We were stopped out of our short coffee position at the arrow on the break. There is no new position.