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(March 1, 2002) SOYBEANS: May soybeans closed at $4.51 ½ up 11 1/4c per bushel on potential yield problems in Brazil and agricultural trade delays in Argentina. Strong gains on Soybean oil on heavy shortcovering also added fuel to the bean rally. The real reason, in my opinion, is the fact that China may have eased its position on genetically altered beans and commodity funds were caught short and forced to cover. We still like soybeans from here and with much of the negative news out of the way, we could see a sustained rally as additional shortcovering and new buying emerges.

John L. Caiazzo
www.acuvest.com
E-mail: futures@acuvest.com

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