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CORE FUTURES
101 First Avenue, Sand Point, Idaho

(March 18, 2002) SOYBEANS: The soy complex continues to move higher after breaking out above an old trendline. The beans continue the seasonal bias upward and lead the meal and oil higher. I would expect the July beans to stall out somewhere in the vicinity of 490, and farmers should start to hedge crop in that area as well. July meal should find it tough to get much above 1650 on this first run higher and the oil should stall before 1800.

Key Levels

SN 463 & 483
SMN 1560 & 1600-1650
BON 1675 &1785
J. Mark Kinoff
www.corefutures.com
email: kinoff@corefutures.com

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