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<DIV><SPAN class=020564800-17101999><FONT color=#000000 face=Arial size=2>Grain
Traders,</FONT></SPAN></DIV>
<DIV><SPAN class=020564800-17101999><FONT color=#000000 face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=020564800-17101999><FONT color=#000000 face=Arial
size=2>Attached is a <A
href="http://www.marketinterface.net/images/GrainCycle.gif ">five year monthly
chart</A> of the simple average of the closing prices of the cash CRB Index,
cash Corn, cash Soybean, and cash Wheat. The chart indicates that a four
year cycle low is due this month.</FONT></SPAN></DIV>
<DIV><SPAN class=020564800-17101999><FONT color=#000000 face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=020564800-17101999><FONT color=#000000 face=Arial
size=2>Plotted in the lower graph is the monthly cash corn for
comparison.</FONT></SPAN></DIV>
<DIV><SPAN class=020564800-17101999><FONT color=#000000 face=Arial
size=2></FONT></SPAN><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>Dennis Peterson</FONT></DIV>
<DIV align=left><FONT face=Arial size=2><A
href="http://www.marketinterface.net/index.htm";>Market
Interface</A></FONT></DIV>
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