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(March 15, 2002) SOYBEANS: We like wheat but continue to favor soybeans as recommended in prior commentaries. May beans gained 3 3/4c per bushel to close at $4.72 ¼ on Friday on continued buying recording a sixth consecutive weekly gain. A statistical firm reported that since 1973, the July soybean contract has always traded near or above $5.00 per bushel during the period January 2nd and April 1st giving rise to expectations of further price gains albeit in the absence of any new fundamentals. Who are we to argue with history? The May contract has gained almost 40c per bushel in the past six weeks and has broken through a number of technical resistance points. Stay with the beans.

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

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