Report Date: 29th Jan 2010

Global Services Division

Agro (CBOT) - Wheat

Trading Strategy (for Wheat Mar’10 contract applicable for 3 - 5 days- Cents per
bushel)

Traders are advised to stay away at current levels & wait for further trend conformation.
Buy/Sell Entry point(s)
Futures Contract Entry Point Stop-Loss
[Advised on] Triggered on Objective
Wheat
Stay Away
(CBOT) Mar’10

CBOT wheat futures bounced Thursday amid profit taking by holders of short positions; heat
ended up 3 1/4 cents at $4.87 a bushel.

Traders have been hoping that the recent drop in prices will attract strong export sales. The USDA
weekly U.S. wheat export sales for the week ended Jan. 21 were 689,200 tons, toward the high
end of trade estimates of 300,000 to 800,000 tons.

Although the prices have found support and consolidated sideways but technically the prices have
settled below the recent low of 497.5 level and are expected to correct further and in this case
prices can test the October lows of 460 levels.

However immediate resistances arise at 504 levels and above this prices can extend till 520 level,
but the broad trend remains weak, technically as well as fundamentals and any retracement can
be considered as selling opportunity.
 Global Services Division

Agro (CBOT) - Corn

Trading Strategy (for Corn Mar’10 contract applicable for 3 - 5 days- Cents per
bushel)

Traders are advised to stay away at current levels & wait for further trend conformation.
Buy/Sell Entry point(s) Liquidation
Futures Contract Entry Point Stop-Loss
[Advised on] Triggered on Objective
Corn
Stay Away
(CBOT) Mar’10

CBOT corn futures ended higher Thursday on short covering in what traders said was an oversold
market. March corn ended up 3 1/2 cents at $3.61 3/4 a bushel.

Technically the market is expected to remain under selling pressure but at current levels the
prices can find the 61.8% Fibonacci Retracement support around 357 level, if prices break this
support expect the market to correct till 348 levels.

Whereas prices manage to hold the support of 357 levels expected the market to retrace higher to
the resistances of 375 levels.

However prices are expected to remain under selling pressure and any retracement can be
considered as a selling opportunity.

Global Services Division Research powered by

Scott Slutsky, Managing Director
312-563-8325
sslutsky@pfgbest.com

Disclaimer: There is risk of loss in trading futures and options