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(March 14, 2002) SOYBEANS: MAY SOYBEANS--The bulls continue to avail from seasonal bottom picking, positive chart action and hope for more Chinese purchases of U.S. beans. News that tests for foot-and-mouth disease in some Kansas livestock were negative also gave the market an added boost. On the bearish side is the ideal harvesting weather in South America, the approaching USDA prospective planting and stocks reports and the now overbought stochastic in both beans and meal. Technically, the chart count still points to $4.90/bu. and perhaps even higher as prices continue to retrace the July 2001/January 2002 sell off.

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