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MRCI's ScenarioSM Summary

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ScenarioSM Summary Mar 31, 2005
Historical Data Scenario Data Current Market Data

Mkt

Cond

Month
Prev
Close
Month
High
Month
Low
Month
Close
Pct
Range
Total
Years
Cond
Years
Action
Years

Pct
Scenario
Objective
Average
Objective
Last
Price
#UTIL Higher Mar 352.90 363.80 346.46 358.33 68% 35 18 16 89% 363.80 379.60 358.33
#VLE Lower Mar 1765.30 1805.50 1706.00 1735.60 30% 22 6 6 100% 1706.00 1648.95 1735.60
#SSNI Lower Mar 11741 11976 11507 11669 35% 23 9 8 89% 11507 10886 11669
SPM5 Lower Mar 1208.50 1234.10 1166.80 1183.90 25% 22 7 6 86% 1166.80 1131.96 1183.90
SFM5 Lower Mar 86.62 87.55 83.13 83.95 19% 29 15 15 100% 83.13 80.01 83.95
JYM5 Lower Mar 96.49 97.25 93.52 93.83 8% 28 14 12 86% 93.52 90.20 93.83
DXM5 Higher Mar 82.49 84.75 81.24 84.05 80% 19 10 9 90% 84.75 87.34 84.05
GCM5 Lower Mar 440.1 450.8 426.0 431.1 21% 30 19 17 89% 426.0 408.0 431.1
GCQ5 Lower Mar 442.7 452.8 428.5 433.7 21% 30 19 17 89% 428.5 410.3 433.7
CLN5 Higher Mar 52.38 58.80 51.55 56.91 74% 21 14 13 93% 58.80 64.02 56.91
CLQ5 Higher Mar 52.03 58.55 51.40 57.09 80% 21 15 13 87% 58.55 63.95 57.09
CLU5 Higher Mar 51.61 58.52 51.07 57.10 81% 21 15 13 87% 58.52 63.47 57.10
HON5 Higher Mar 136.52 161.40 136.30 160.36 96% 25 17 16 94% 161.40 176.88 160.36
HOQ5 Higher Mar 136.82 162.25 135.75 160.81 95% 25 17 16 94% 162.25 177.11 160.81
HOU5 Higher Mar 137.67 163.50 136.35 161.66 93% 25 16 15 94% 163.50 176.36 161.66
HUN5 Higher Mar 145.03 168.20 142.75 167.31 97% 19 15 13 87% 168.20 183.89 167.31
HUQ5 Higher Mar 143.33 166.75 142.00 166.00 97% 19 15 14 93% 166.75 180.55 166.00
HUU5 Higher Mar 140.33 164.00 141.35 163.15 96% 19 16 15 94% 164.00 178.28 163.15
NGN5 Higher Mar 6.930 7.900 6.780 7.843 95% 14 10 10 100% 7.900 9.170 7.843
NGQ5 Higher Mar 6.955 7.950 6.820 7.893 95% 14 10 10 100% 7.950 9.200 7.893
NGU5 Higher Mar 6.958 7.950 6.820 7.908 96% 14 10 10 100% 7.950 9.133 7.908
BOQ5 Lower Mar 23.35 24.80 22.40 22.90 21% 43 19 16 84% 22.40 20.70 22.90
CZ5 Lower Mar 242.00 249.50 232.50 234.75 13% 45 19 16 84% 232.50 219.46 234.75
KWN5 Lower Mar 344.50 370.00 331.50 336.50 13% 28 14 12 86% 331.50 317.13 336.50
KWU5 Lower Mar 350.00 375.00 338.00 344.50 18% 28 14 12 86% 338.00 324.36 344.50
MWN5 Lower Mar 368.00 381.00 349.00 349.50 2% 24 11 10 91% 349.00 335.93 349.50
MWU5 Lower Mar 365.00 385.00 352.00 355.00 9% 24 12 11 92% 352.00 338.03 355.00
OZ5 Higher Mar 147.00 154.25 146.00 148.50 30% 29 13 11 85% 154.25 165.82 148.50
RRU5 Higher Mar 6.90 7.58 6.85 7.40 75% 18 9 8 89% 7.58 8.25 7.40
LCQ5 Higher Mar 79.225 84.500 78.900 83.825 88% 40 22 19 86% 84.500 90.992 83.825
LCV5 Higher Mar 81.075 85.300 80.600 84.975 93% 40 19 17 89% 85.300 89.467 84.975
FCU5 Higher Mar 99.450 106.675 99.100 105.775 88% 32 14 12 86% 106.675 111.659 105.775
LEM5 Lower Mar 79.300 82.200 77.500 79.275 38% 35 13 11 85% 77.500 70.032 79.275
LEN5 Higher Mar 75.625 79.200 75.750 77.900 62% 35 21 20 95% 79.200 86.398 77.900
LEQ5 Higher Mar 71.950 75.850 71.925 75.200 83% 35 21 19 90% 75.850 83.321 75.200
PBK5 Higher Mar 89.375 98.000 86.450 96.250 85% 40 26 22 85% 98.000 109.843 96.250
CCN5 Lower Mar 1740 1867 1575 1633 20% 45 25 21 84% 1575 1376 1633


Dow Jones Utilities
The #UTIL(Mkt) ended Higher(Cond) for March(Month). Compared to February's 352.90(Prev Close), the market ended March at (Month Close), that being 68%(Pct Range) off of 346.46(Month Low) to 363.80(Month High).

In comparing the February/March closes for each of the last 35 years(Total Years), Scenario found that the Dow Jones Utilities also closed higher in March than February in 18(Cond Years) of those years. Of those 18, the #UTIL went on to exceed the March high within the next 2 months in 16 years(Action Years) or 89%(Pct) of the time.

Therefore, the historical odds are high that the the #UTIL should exceed 363.80(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 16 years) a potential move toward 379.60(Average Objective).

Value Line Index
The #VLE(Mkt) ended Lower(Cond) for March(Month). Compared to February's 1765.30(Prev Close), the market ended March at (Month Close), that being 30%(Pct Range) off of 1706.00(Month Low) to 1805.50(Month High).

In comparing the February/March closes for each of the last 22 years(Total Years), Scenario found that the Value Line Index also closed lower in March than February in 6(Cond Years) of those years. Of those 6, the #VLE went on to penetrate the March low within the next 2 months in 6 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the the #VLE should penetrate 1706.00(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 6 years) a potential move toward 1648.95(Average Objective).

Nikkei 225 Index
The #SSNI(Mkt) ended Lower(Cond) for March(Month). Compared to February's 11741(Prev Close), the market ended March at (Month Close), that being 35%(Pct Range) off of 11507(Month Low) to 11976(Month High).

In comparing the February/March closes for each of the last 23 years(Total Years), Scenario found that the Nikkei 225 Index also closed lower in March than February in 9(Cond Years) of those years. Of those 9, the #SSNI went on to penetrate the March low within the next 2 months in 8 years(Action Years) or 89%(Pct) of the time.

Therefore, the historical odds are high that the the #SSNI should penetrate 11507(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 8 years) a potential move toward 10886(Average Objective).

June S & P 500(CME)
The SPM5(Mkt) ended Lower(Cond) for March(Month). Compared to February's 1208.50(Prev Close), the market ended March at (Month Close), that being 25%(Pct Range) off of 1166.80(Month Low) to 1234.10(Month High).

In comparing the February/March closes for each of the last 22 years(Total Years), Scenario found that the June S & P 500(CME) also closed lower in March than February in 7(Cond Years) of those years. Of those 7, SPM went on to penetrate the March low within the next 2 months in 6 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the SPM should penetrate 1166.80(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 6 years) a potential move toward 1131.96(Average Objective).

June Swiss Franc(CME)
The SFM5(Mkt) ended Lower(Cond) for March(Month). Compared to February's 86.62(Prev Close), the market ended March at (Month Close), that being 19%(Pct Range) off of 83.13(Month Low) to 87.55(Month High).

In comparing the February/March closes for each of the last 29 years(Total Years), Scenario found that the June Swiss Franc(CME) also closed lower in March than February in 15(Cond Years) of those years. Of those 15, SFM went on to penetrate the March low within the next 2 months in 15 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the SFM should penetrate 83.13(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 15 years) a potential move toward 80.01(Average Objective).

June Japanese Yen(CME)
The JYM5(Mkt) ended Lower(Cond) for March(Month). Compared to February's 96.49(Prev Close), the market ended March at (Month Close), that being 8%(Pct Range) off of 93.52(Month Low) to 97.25(Month High).

In comparing the February/March closes for each of the last 28 years(Total Years), Scenario found that the June Japanese Yen(CME) also closed lower in March than February in 14(Cond Years) of those years. Of those 14, JYM went on to penetrate the March low within the next 2 months in 12 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the JYM should penetrate 93.52(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 12 years) a potential move toward 90.20(Average Objective).

June US Dollar Index(NYBOT)
The DXM5(Mkt) ended Higher(Cond) for March(Month). Compared to February's 82.49(Prev Close), the market ended March at (Month Close), that being 80%(Pct Range) off of 81.24(Month Low) to 84.75(Month High).

In comparing the February/March closes for each of the last 19 years(Total Years), Scenario found that the June US Dollar Index(NYBOT) also closed higher in March than February in 10(Cond Years) of those years. Of those 10, DXM went on to exceed the March high within the next 2 months in 9 years(Action Years) or 90%(Pct) of the time.

Therefore, the historical odds are high that the DXM should exceed 84.75(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 9 years) a potential move toward 87.34(Average Objective).

June Gold(CMX)
The GCM5(Mkt) ended Lower(Cond) for March(Month). Compared to February's 440.1(Prev Close), the market ended March at (Month Close), that being 21%(Pct Range) off of 426.0(Month Low) to 450.8(Month High).

In comparing the February/March closes for each of the last 30 years(Total Years), Scenario found that the June Gold(CMX) also closed lower in March than February in 19(Cond Years) of those years. Of those 19, GCM went on to penetrate the March low within the next 2 months in 17 years(Action Years) or 89%(Pct) of the time.

Therefore, the historical odds are high that the GCM should penetrate 426.0(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 17 years) a potential move toward 408.0(Average Objective).

August Gold(CMX)
The GCQ5(Mkt) ended Lower(Cond) for March(Month). Compared to February's 442.7(Prev Close), the market ended March at (Month Close), that being 21%(Pct Range) off of 428.5(Month Low) to 452.8(Month High).

In comparing the February/March closes for each of the last 30 years(Total Years), Scenario found that the August Gold(CMX) also closed lower in March than February in 19(Cond Years) of those years. Of those 19, GCQ went on to penetrate the March low within the next 2 months in 17 years(Action Years) or 89%(Pct) of the time.

Therefore, the historical odds are high that the GCQ should penetrate 428.5(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 17 years) a potential move toward 410.3(Average Objective).

July Crude Oil(NYM)
The CLN5(Mkt) ended Higher(Cond) for March(Month). Compared to February's 52.38(Prev Close), the market ended March at (Month Close), that being 74%(Pct Range) off of 51.55(Month Low) to 58.80(Month High).

In comparing the February/March closes for each of the last 21 years(Total Years), Scenario found that the July Crude Oil(NYM) also closed higher in March than February in 14(Cond Years) of those years. Of those 14, CLN went on to exceed the March high within the next 2 months in 13 years(Action Years) or 93%(Pct) of the time.

Therefore, the historical odds are high that the CLN should exceed 58.80(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 13 years) a potential move toward 64.02(Average Objective).

August Crude Oil(NYM)
The CLQ5(Mkt) ended Higher(Cond) for March(Month). Compared to February's 52.03(Prev Close), the market ended March at (Month Close), that being 80%(Pct Range) off of 51.40(Month Low) to 58.55(Month High).

In comparing the February/March closes for each of the last 21 years(Total Years), Scenario found that the August Crude Oil(NYM) also closed higher in March than February in 15(Cond Years) of those years. Of those 15, CLQ went on to exceed the March high within the next 2 months in 13 years(Action Years) or 87%(Pct) of the time.

Therefore, the historical odds are high that the CLQ should exceed 58.55(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 13 years) a potential move toward 63.95(Average Objective).

September Crude Oil(NYM)
The CLU5(Mkt) ended Higher(Cond) for March(Month). Compared to February's 51.61(Prev Close), the market ended March at (Month Close), that being 81%(Pct Range) off of 51.07(Month Low) to 58.52(Month High).

In comparing the February/March closes for each of the last 21 years(Total Years), Scenario found that the September Crude Oil(NYM) also closed higher in March than February in 15(Cond Years) of those years. Of those 15, CLU went on to exceed the March high within the next 2 months in 13 years(Action Years) or 87%(Pct) of the time.

Therefore, the historical odds are high that the CLU should exceed 58.52(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 13 years) a potential move toward 63.47(Average Objective).

July Heating Oil(NYM)
The HON5(Mkt) ended Higher(Cond) for March(Month). Compared to February's 136.52(Prev Close), the market ended March at (Month Close), that being 96%(Pct Range) off of 136.30(Month Low) to 161.40(Month High).

In comparing the February/March closes for each of the last 25 years(Total Years), Scenario found that the July Heating Oil(NYM) also closed higher in March than February in 17(Cond Years) of those years. Of those 17, HON went on to exceed the March high within the next 2 months in 16 years(Action Years) or 94%(Pct) of the time.

Therefore, the historical odds are high that the HON should exceed 161.40(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 16 years) a potential move toward 176.88(Average Objective).

August Heating Oil(NYM)
The HOQ5(Mkt) ended Higher(Cond) for March(Month). Compared to February's 136.82(Prev Close), the market ended March at (Month Close), that being 95%(Pct Range) off of 135.75(Month Low) to 162.25(Month High).

In comparing the February/March closes for each of the last 25 years(Total Years), Scenario found that the August Heating Oil(NYM) also closed higher in March than February in 17(Cond Years) of those years. Of those 17, HOQ went on to exceed the March high within the next 2 months in 16 years(Action Years) or 94%(Pct) of the time.

Therefore, the historical odds are high that the HOQ should exceed 162.25(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 16 years) a potential move toward 177.11(Average Objective).

September Heating Oil(NYM)
The HOU5(Mkt) ended Higher(Cond) for March(Month). Compared to February's 137.67(Prev Close), the market ended March at (Month Close), that being 93%(Pct Range) off of 136.35(Month Low) to 163.50(Month High).

In comparing the February/March closes for each of the last 25 years(Total Years), Scenario found that the September Heating Oil(NYM) also closed higher in March than February in 16(Cond Years) of those years. Of those 16, HOU went on to exceed the March high within the next 2 months in 15 years(Action Years) or 94%(Pct) of the time.

Therefore, the historical odds are high that the HOU should exceed 163.50(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 15 years) a potential move toward 176.36(Average Objective).

July Unleaded Gas(NYM)
The HUN5(Mkt) ended Higher(Cond) for March(Month). Compared to February's 145.03(Prev Close), the market ended March at (Month Close), that being 97%(Pct Range) off of 142.75(Month Low) to 168.20(Month High).

In comparing the February/March closes for each of the last 19 years(Total Years), Scenario found that the July Unleaded Gas(NYM) also closed higher in March than February in 15(Cond Years) of those years. Of those 15, HUN went on to exceed the March high within the next 2 months in 13 years(Action Years) or 87%(Pct) of the time.

Therefore, the historical odds are high that the HUN should exceed 168.20(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 13 years) a potential move toward 183.89(Average Objective).

August Unleaded Gas(NYM)
The HUQ5(Mkt) ended Higher(Cond) for March(Month). Compared to February's 143.33(Prev Close), the market ended March at (Month Close), that being 97%(Pct Range) off of 142.00(Month Low) to 166.75(Month High).

In comparing the February/March closes for each of the last 19 years(Total Years), Scenario found that the August Unleaded Gas(NYM) also closed higher in March than February in 15(Cond Years) of those years. Of those 15, HUQ went on to exceed the March high within the next 2 months in 14 years(Action Years) or 93%(Pct) of the time.

Therefore, the historical odds are high that the HUQ should exceed 166.75(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 14 years) a potential move toward 180.55(Average Objective).

September Unleaded Gas(NYM)
The HUU5(Mkt) ended Higher(Cond) for March(Month). Compared to February's 140.33(Prev Close), the market ended March at (Month Close), that being 96%(Pct Range) off of 141.35(Month Low) to 164.00(Month High).

In comparing the February/March closes for each of the last 19 years(Total Years), Scenario found that the September Unleaded Gas(NYM) also closed higher in March than February in 16(Cond Years) of those years. Of those 16, HUU went on to exceed the March high within the next 2 months in 15 years(Action Years) or 94%(Pct) of the time.

Therefore, the historical odds are high that the HUU should exceed 164.00(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 15 years) a potential move toward 178.28(Average Objective).

July Natural Gas(NYM)
The NGN5(Mkt) ended Higher(Cond) for March(Month). Compared to February's 6.930(Prev Close), the market ended March at (Month Close), that being 95%(Pct Range) off of 6.780(Month Low) to 7.900(Month High).

In comparing the February/March closes for each of the last 14 years(Total Years), Scenario found that the July Natural Gas(NYM) also closed higher in March than February in 10(Cond Years) of those years. Of those 10, NGN went on to exceed the March high within the next 2 months in 10 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the NGN should exceed 7.900(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 10 years) a potential move toward 9.170(Average Objective).

August Natural Gas(NYM)
The NGQ5(Mkt) ended Higher(Cond) for March(Month). Compared to February's 6.955(Prev Close), the market ended March at (Month Close), that being 95%(Pct Range) off of 6.820(Month Low) to 7.950(Month High).

In comparing the February/March closes for each of the last 14 years(Total Years), Scenario found that the August Natural Gas(NYM) also closed higher in March than February in 10(Cond Years) of those years. Of those 10, NGQ went on to exceed the March high within the next 2 months in 10 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the NGQ should exceed 7.950(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 10 years) a potential move toward 9.200(Average Objective).

September Natural Gas(NYM)
The NGU5(Mkt) ended Higher(Cond) for March(Month). Compared to February's 6.958(Prev Close), the market ended March at (Month Close), that being 96%(Pct Range) off of 6.820(Month Low) to 7.950(Month High).

In comparing the February/March closes for each of the last 14 years(Total Years), Scenario found that the September Natural Gas(NYM) also closed higher in March than February in 10(Cond Years) of those years. Of those 10, NGU went on to exceed the March high within the next 2 months in 10 years(Action Years) or 100%(Pct) of the time.

Therefore, the historical odds are high that the NGU should exceed 7.950(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 10 years) a potential move toward 9.133(Average Objective).

August Soybean Oil(CBOT)
The BOQ5(Mkt) ended Lower(Cond) for March(Month). Compared to February's 23.35(Prev Close), the market ended March at (Month Close), that being 21%(Pct Range) off of 22.40(Month Low) to 24.80(Month High).

In comparing the February/March closes for each of the last 43 years(Total Years), Scenario found that the August Soybean Oil(CBOT) also closed lower in March than February in 19(Cond Years) of those years. Of those 19, BOQ went on to penetrate the March low within the next 2 months in 16 years(Action Years) or 84%(Pct) of the time.

Therefore, the historical odds are high that the BOQ should penetrate 22.40(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 16 years) a potential move toward 20.70(Average Objective).

December Corn(CBOT)
The CZ5(Mkt) ended Lower(Cond) for March(Month). Compared to February's 242.00(Prev Close), the market ended March at (Month Close), that being 13%(Pct Range) off of 232.50(Month Low) to 249.50(Month High).

In comparing the February/March closes for each of the last 45 years(Total Years), Scenario found that the December Corn(CBOT) also closed lower in March than February in 19(Cond Years) of those years. Of those 19, CZ went on to penetrate the March low within the next 2 months in 16 years(Action Years) or 84%(Pct) of the time.

Therefore, the historical odds are high that the CZ should penetrate 232.50(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 16 years) a potential move toward 219.46(Average Objective).

July Wheat(KCBT)
The KWN5(Mkt) ended Lower(Cond) for March(Month). Compared to February's 344.50(Prev Close), the market ended March at (Month Close), that being 13%(Pct Range) off of 331.50(Month Low) to 370.00(Month High).

In comparing the February/March closes for each of the last 28 years(Total Years), Scenario found that the July Wheat(KCBT) also closed lower in March than February in 14(Cond Years) of those years. Of those 14, KWN went on to penetrate the March low within the next 2 months in 12 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the KWN should penetrate 331.50(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 12 years) a potential move toward 317.13(Average Objective).

September Wheat(KCBT)
The KWU5(Mkt) ended Lower(Cond) for March(Month). Compared to February's 350.00(Prev Close), the market ended March at (Month Close), that being 18%(Pct Range) off of 338.00(Month Low) to 375.00(Month High).

In comparing the February/March closes for each of the last 28 years(Total Years), Scenario found that the September Wheat(KCBT) also closed lower in March than February in 14(Cond Years) of those years. Of those 14, KWU went on to penetrate the March low within the next 2 months in 12 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the KWU should penetrate 338.00(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 12 years) a potential move toward 324.36(Average Objective).

July Wheat(MGE)
The MWN5(Mkt) ended Lower(Cond) for March(Month). Compared to February's 368.00(Prev Close), the market ended March at (Month Close), that being 2%(Pct Range) off of 349.00(Month Low) to 381.00(Month High).

In comparing the February/March closes for each of the last 24 years(Total Years), Scenario found that the July Wheat(MGE) also closed lower in March than February in 11(Cond Years) of those years. Of those 11, MWN went on to penetrate the March low within the next 2 months in 10 years(Action Years) or 91%(Pct) of the time.

Therefore, the historical odds are high that the MWN should penetrate 349.00(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 10 years) a potential move toward 335.93(Average Objective).

September Wheat(MGE)
The MWU5(Mkt) ended Lower(Cond) for March(Month). Compared to February's 365.00(Prev Close), the market ended March at (Month Close), that being 9%(Pct Range) off of 352.00(Month Low) to 385.00(Month High).

In comparing the February/March closes for each of the last 24 years(Total Years), Scenario found that the September Wheat(MGE) also closed lower in March than February in 12(Cond Years) of those years. Of those 12, MWU went on to penetrate the March low within the next 2 months in 11 years(Action Years) or 92%(Pct) of the time.

Therefore, the historical odds are high that the MWU should penetrate 352.00(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 11 years) a potential move toward 338.03(Average Objective).

December Oats(CBOT)
The OZ5(Mkt) ended Higher(Cond) for March(Month). Compared to February's 147.00(Prev Close), the market ended March at (Month Close), that being 30%(Pct Range) off of 146.00(Month Low) to 154.25(Month High).

In comparing the February/March closes for each of the last 29 years(Total Years), Scenario found that the December Oats(CBOT) also closed higher in March than February in 13(Cond Years) of those years. Of those 13, OZ went on to exceed the March high within the next 2 months in 11 years(Action Years) or 85%(Pct) of the time.

Therefore, the historical odds are high that the OZ should exceed 154.25(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 11 years) a potential move toward 165.82(Average Objective).

September Rough Rice(CBOT)
The RRU5(Mkt) ended Higher(Cond) for March(Month). Compared to February's 6.90(Prev Close), the market ended March at (Month Close), that being 75%(Pct Range) off of 6.85(Month Low) to 7.58(Month High).

In comparing the February/March closes for each of the last 18 years(Total Years), Scenario found that the September Rough Rice(CBOT) also closed higher in March than February in 9(Cond Years) of those years. Of those 9, RRU went on to exceed the March high within the next 2 months in 8 years(Action Years) or 89%(Pct) of the time.

Therefore, the historical odds are high that the RRU should exceed 7.58(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 8 years) a potential move toward 8.25(Average Objective).

August Live Cattle(CME)
The LCQ5(Mkt) ended Higher(Cond) for March(Month). Compared to February's 79.225(Prev Close), the market ended March at (Month Close), that being 88%(Pct Range) off of 78.900(Month Low) to 84.500(Month High).

In comparing the February/March closes for each of the last 40 years(Total Years), Scenario found that the August Live Cattle(CME) also closed higher in March than February in 22(Cond Years) of those years. Of those 22, LCQ went on to exceed the March high within the next 2 months in 19 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the LCQ should exceed 84.500(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 90.992(Average Objective).

October Live Cattle(CME)
The LCV5(Mkt) ended Higher(Cond) for March(Month). Compared to February's 81.075(Prev Close), the market ended March at (Month Close), that being 93%(Pct Range) off of 80.600(Month Low) to 85.300(Month High).

In comparing the February/March closes for each of the last 40 years(Total Years), Scenario found that the October Live Cattle(CME) also closed higher in March than February in 19(Cond Years) of those years. Of those 19, LCV went on to exceed the March high within the next 2 months in 17 years(Action Years) or 89%(Pct) of the time.

Therefore, the historical odds are high that the LCV should exceed 85.300(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 17 years) a potential move toward 89.467(Average Objective).

September Feeder Cattle(CME)
The FCU5(Mkt) ended Higher(Cond) for March(Month). Compared to February's 99.450(Prev Close), the market ended March at (Month Close), that being 88%(Pct Range) off of 99.100(Month Low) to 106.675(Month High).

In comparing the February/March closes for each of the last 32 years(Total Years), Scenario found that the September Feeder Cattle(CME) also closed higher in March than February in 14(Cond Years) of those years. Of those 14, FCU went on to exceed the March high within the next 2 months in 12 years(Action Years) or 86%(Pct) of the time.

Therefore, the historical odds are high that the FCU should exceed 106.675(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 12 years) a potential move toward 111.659(Average Objective).

June Lean Hogs(CME)
The LEM5(Mkt) ended Lower(Cond) for March(Month). Compared to February's 79.300(Prev Close), the market ended March at (Month Close), that being 38%(Pct Range) off of 77.500(Month Low) to 82.200(Month High).

In comparing the February/March closes for each of the last 35 years(Total Years), Scenario found that the June Lean Hogs(CME) also closed lower in March than February in 13(Cond Years) of those years. Of those 13, LEM went on to penetrate the March low within the next 2 months in 11 years(Action Years) or 85%(Pct) of the time.

Therefore, the historical odds are high that the LEM should penetrate 77.500(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 11 years) a potential move toward 70.032(Average Objective).

July Lean Hogs(CME)
The LEN5(Mkt) ended Higher(Cond) for March(Month). Compared to February's 75.625(Prev Close), the market ended March at (Month Close), that being 62%(Pct Range) off of 75.750(Month Low) to 79.200(Month High).

In comparing the February/March closes for each of the last 35 years(Total Years), Scenario found that the July Lean Hogs(CME) also closed higher in March than February in 21(Cond Years) of those years. Of those 21, LEN went on to exceed the March high within the next 2 months in 20 years(Action Years) or 95%(Pct) of the time.

Therefore, the historical odds are high that the LEN should exceed 79.200(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 20 years) a potential move toward 86.398(Average Objective).

August Lean Hogs(CME)
The LEQ5(Mkt) ended Higher(Cond) for March(Month). Compared to February's 71.950(Prev Close), the market ended March at (Month Close), that being 83%(Pct Range) off of 71.925(Month Low) to 75.850(Month High).

In comparing the February/March closes for each of the last 35 years(Total Years), Scenario found that the August Lean Hogs(CME) also closed higher in March than February in 21(Cond Years) of those years. Of those 21, LEQ went on to exceed the March high within the next 2 months in 19 years(Action Years) or 90%(Pct) of the time.

Therefore, the historical odds are high that the LEQ should exceed 75.850(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 19 years) a potential move toward 83.321(Average Objective).

May Pork Bellies(CME)
The PBK5(Mkt) ended Higher(Cond) for March(Month). Compared to February's 89.375(Prev Close), the market ended March at (Month Close), that being 85%(Pct Range) off of 86.450(Month Low) to 98.000(Month High).

In comparing the February/March closes for each of the last 40 years(Total Years), Scenario found that the May Pork Bellies(CME) also closed higher in March than February in 26(Cond Years) of those years. Of those 26, PBK went on to exceed the March high within the next 2 months in 22 years(Action Years) or 85%(Pct) of the time.

Therefore, the historical odds are high that the PBK should exceed 98.000(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 22 years) a potential move toward 109.843(Average Objective).

July Cocoa(NYBOT)
The CCN5(Mkt) ended Lower(Cond) for March(Month). Compared to February's 1740(Prev Close), the market ended March at (Month Close), that being 20%(Pct Range) off of 1575(Month Low) to 1867(Month High).

In comparing the February/March closes for each of the last 45 years(Total Years), Scenario found that the July Cocoa(NYBOT) also closed lower in March than February in 25(Cond Years) of those years. Of those 25, CCN went on to penetrate the March low within the next 2 months in 21 years(Action Years) or 84%(Pct) of the time.

Therefore, the historical odds are high that the CCN should penetrate 1575(Scenario Objective) by no later than the end of May. If it does so, Scenario would further project (based on normalizing those previous 21 years) a potential move toward 1376(Average Objective).