Financials: Mar. Bonds are currently 22 lower at 144'24 and the 10 Yr. Note 6 lower at 132'02. The ADP Private Sector Jobs report this morning showed an increase of 170,000 jobs as expected. Due out at 9:00 will be Construction Spending and the ISM Manufacturing Index. We remain spread long 5 Yr. Notes/ short 10 Yr. Notes.

Grains: This morning Mar. beans are 10'4 higher at 1209'4, Mar. Corn 9'2 higher at 648'2 and Mar. Wheat 11'6 higher at 677'6. I feel these markets are currently in resistance. I will look to reinstate long positions in Mar. Corn on a break to the 623'0 area.

Cattle: Apr. Cattle is currently 12 lower at 128.45 and Mar. FC 27 lower at 155.25. yesterday I was stopped out of a recent short position in Mar. FC cattle when the market traded above the 155.65 level. My bias remains to the downside of the market and I will be looking for another selling opportunity. I feel that producers should be looking at hedging opportunities.

Silver: Mar. Silver is currently 45 cents higher at 33.71 and Apr. Gold 4.00 higher at 1744.00. Over had resistance in Apr. Gold is currently the 1763.00-1769.00 areas. Those holding long positions in either futures or call options should take note.

S&P's: Mar. S&P's are currently 9.00 higher at 1317.00. I must admit that the market is holding support pretty well in the 1300.00 area. I am raising support to 1303.00 and raising resistance to this morning's high of 1320.75.

Currencies: As of this writing the Mar. Euro is trading 87 higher at 1.3175, the Swiss 63 higher at 1.0939, the Yen 5 higher at 1.3139 and the Pound 79 higher at 1.5828. Short term trends remain up on the Euro and the long term trend down with resistance in the 1.3300-1.3400 area. German and Portugese debt auctions went well this morning. I am on the sidelines in futures and continue to hold out of the money puts in the Euro and the Yen.

Regards, Marc 888.908.4310 | 312.264.4310 mnemenoff@pricegroup.com