3/09/10

Futures and Option Fund Position for the close of 3/09 (daily change)
C +28,800 (-7,000), B -15,100 (-2,000), W -64,700 (-3,000), M +18,000 (0), BO +12,500 (-1,000)

Overnight Volume---c 17,923, b 5,367, w 1,813, m 2,610, oil 3,088, oats 36, Total 30,837.

Weather--check the 6-10 outlook here and the 8-14 day outlook here

Argentina Showers occurred in La Pampa and far western Buenos Aires yesterday. Amounts were 0.10 to 1.25”, with coverage of 15% for corn and 10% for soybeans. Showers will favor Buenos Aires today, with dry weather expected tomorrow. Showers will develop in northern Cordoba, northern Santa Fe, and far northern growing areas on Thursday and Friday. Amounts will be 0.25 to 1.25”, with coverage of 30% for corn and soybeans through Saturday.

Brazil: Showers occurred in northern Mato Grosso, northern Goias, far northern Minas Gerais, and western Bahia yesterday. Amounts were 0.25 to 1.0”, locally 2.0”, with coverage of 20% for corn and soybeans (35% coverage of northern states).

- The heaviest showers will favor northern and western Mato Grosso, far northern Goias, southern Bahia, and northern Minas

Gerais this week. Light showers will be possible along the east coast of Brazil. Amounts will be 0.25 to 1.5”, locally 3.0”, with

coverage of 50% for corn and soybeans through Saturday (65% coverage on northern states).

Quote of the Day: “The difference between failure and success is doing a thing nearly right and doing a thing exactly right.”

Historic Fund Positions

	Max Long	Date	Max Short	Date
Corn	333,156 (322,851)	01/23/07 (01/16/07)	-114,265(-114,037)	2/8/05 (2/1/05)
Bean	137,780 (134,912)	12/11/07 (7/20/07)	-78,161 (-75,759)	2/8/05 (2/1/05)
Wheat	39,021 (35,443)	4/09/04 (1/23/04)	-74,767 (-69,122)	2/09/10 (09/08/09)
Meal	77,636(74,253)	12/11/07(12/04/07)	-43,052 (-33,531)	2/8/05 (2/1/05)
Oil	82,078 (77,816)	2/20/04 (2/13/04)	-41,260 (-38,849)	7/21/09 (7/27/99)
Oats	7,396 (7,014)	6/19/07(7/21/06)	-2,363	3/16/99