Bonds are currently 9 ticks lower at 158’20, 10 Yr

Financials

Mar. Bonds are currently 9 ticks lower at 158’20, 10 Yr. Notes 1.5 lower at 129’07 and 5 Yr. Notes 1 tick higher at 118’27.0, all things considered about steady with a week ago. FOMC met on Tues. and Wed., as expected rates remained unchanged. The Fed. Once again noted that any action will be “data dependent”. I remain overall negative and will note that yield curves continue to widen (long dated Bonds and Notes are gaining in yield on shorter term Notes and Bonds). Sell the Bonds on rallies above 160’28. Look for support on the 5 Yr. Note at 117’22.

Grains

Mar. Corn is currently 1’2 higher at 372’4, Mar. Beans 3’2 lower at 904’6 and Mar. Wheat 1’0 lower at 518’2. Corn has fallen into my recommended Buy range of 365’0-375”0, preferably near the lower side of the range. If you go long use a 10-15 cent protective sell stop. I do not exp a major rally, but what’s wrong with a 10-15 cent profit?

Cattle

Live and Feeder Cattle once again were highly volatile trading both higher and lower for the week, currently high. Some cash trades’ noted at 120.00. I remain short and will look to sell Apr. LC above 128.65.

Silver

 Mar. Silver is 20 cents higher at 17.05 and 13 higher for the week. I remain long.

S&P's

Dec. S&P’s are currently 3.00 lower at 3140.00. The market did not complete a key reversal, however a close below 3116.00 will give us a reason to sell. I'm still a seller on sharp rallies for trading purposes.

Currencies

As of this writing the Euro is 4 higher at 1.1146, the yen 9.5 lower at 0.92100, the Pound 71 lower at 1.3138 and the Dollar Index up .064 at 97.110. The euro and Pound are slightly higher for the week and the Dollar slightly lower. I still am a buyer of the pound on breaks and a seller of the Dollar on rallies.