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(March 22, 2002) SOYBEANS: May soybeans closed at $4.64 ½ per bushel up 5 1/4c on commercial buying. May traded as high as $4.67 before locals took profits towards the close and in front of the weekend. Financial problems in Argentina is prompting buyers to look to the U.S. for the stability of deliveries and price and expectations are that continued economic strife may prompt some Bank closings also added to the speculation that demand for U.S. beans would increase. I had suggested in prior commentaries that the economies of our "competitors" such as Argentina and Brazil would make our markets more favorable to international buyers. Indications are that while U.S. soybean planted acreage could reach 74.56 million acres up from 74.1 million, stocks as of March first were down nearly 100 million bushels year on year and led to commercial buying. My opinion remains the same. I look for continued rallies in soybeans. Stay long.

John L. Caiazzo

www.acuvest.com

E-mail: futures@acuvest.com

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