Financials: Mar. Bonds are currently 22 lower at 142'19 and the 10 Yr. Notes 11 lower at 131'11. We remain spread long the 5 Yr. Note/short the 10 Yr. Note which is currently trading at 7'19 premium the 10 Yr. Note. My objective is the 7'12 level premium the 10 Yr. Note.

Grains: Over night Beans were 3'4 lower at 1229'4, Mar. Corn 3'6 lower at 640'4 and Mar. Wheat 7'2 lower at 661'2. USDA supply/demand report will be out Thursday morning. We are currently on the sidelines. I will be looking to reinstate a long position in Mar. Corn on a break below the 623'0 level if the market allows.

Cattle: Yesterday Apr. LC closed 40 higher at 127.50 and Mar. FC 32 lower at 154.22. I continue to hold a negative bias to these markets.

Silver: Mar. Silver is currently 28 cents lower at 33.47 and Apr. Gold 4.00 lower at 1721.00. I am currently on the sidelines. I will be looking to reinstate long biased positions in Silver below the 32.60 level and Gold below 1690.00.

S&P's: Mar. S&P's are currently 1.50 lower at 1337.50. I expect this market to be range bound until either the 1344.00 level is broken on the upside or the 1224.00 level is penetrated on the downside.

Currencies: As of this writing the Mar. Euro is trading 50 higher at 1.3175, the Swiss 25 higher at 1.0913, the Yen 37 lower at 1.3025 and the Pound 8 higher at 1.5829. These markets continue to break and rally on each bit of news concerning Greek debt. They could go either way, short term trens are up, long term trends are down. We remain long out of the money Mar. puts on the Euro and the Yen.

Regards, Marc 888.908.4310 | 312.264.4310 mnemenoff@pricegroup.com