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CORE FUTURES 101 First Avenue, Sand Point, Idaho (March 25, 2002) SOYBEANS: The soy complex set back a bit this week after the breakout earlier this month. The beans were able to base above the old trendline and hold some minor strength. I would expect the July beans to make another run at the highs but stall out before the 490 level. The meal has retaken ownership of the strength, and this will need to hold if there is to be any continuation in this move. July meal should find it tough to get much above 1600, and I would not expect to see it above 1670 on this run. The Oil has not held onto any strength at all, and is victim to oil/meal spreading. The July oil is at a level that will be critical to maintain for continued strength. I expect to see sideways to higher action at best.
Key Levels
SN 463 & 483
J. Mark Kinoff www.corefutures.com email: kinoff@corefutures.com
SMN 1560 & 1600-1650
BON 1610 &1715
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