By Jim Wyckoff

  DOW JONES NEWSWIRES

NOVEMBER SOYBEANS


  November soybean prices Friday closed higher and nearer the session high and
closed at a bullish weekly high close. Bullish "outside markets" - higher crude
oil prices and a weaker U.S. dollar - aided the bean bulls again on Friday.
Bulls have the solid near-term technical advantage. The next upside price
objective for the bean bulls is to push and close prices above solid resistance
at the contract high of $16.36 3/4 a bushel. The next downside price objective
for the bears is pushing and closing prices below psychological support at
$15.00. First resistance for November soybeans is seen at $16.00 and then at
Friday's high of $16.20. First support is seen at $15.75 and then at Friday's
low of $15.61.

16.36 3/4 --- the contract high
15.83 1/2 --- 10-day moving average
15.54 3/4 --- 20-day moving average
14.67 1/4 --- 40-day moving average
5.98 

 the contract low

DECEMBER SOYBEAN MEAL


  December soymeal prices Friday closed higher, near the session high, at a
bullish weekly high close and set a fresh contract high. The next upside price
objective for the bulls is to produce a close above solid technical resistance
at $440.00. The next downside price objective for the bears is pushing and
closing prices below solid support at $400.00. First resistance comes in at
Friday's contract high of $431.90 and then at $435.00. First support is seen at
$425.00 and then at $420.00.

$431.90 --- the contract high
$417.30 --- 10-day moving average
$405.10 --- 20-day moving average
$373.20 --- 40-day moving average
$172.20 --- the contract low

DECEMBER SOYBEAN OIL


  December bean oil prices Friday closed slightly higher and nearer the session
low. Bean oil bulls still have the near-term technical advantage. A
three-month-old uptrend is still in place on the daily bar chart. The next
upside price objective for the bean oil bulls is pushing and closing prices
above solid technical resistance at last week's high of 68.45 cents. The bean
oil bears' next downside technical price objective is pushing and closing
prices below solid support at last week's low of 64.05 cents. First resistance
is seen at 66.50 cents and then at 67.00 cents. First support is seen at
Friday's low of 65.46 cents and then at 65.00 cents.

74.00 --- the contract high
67.08 --- 10-day moving average
66.79 --- 20-day moving average
65.37 --- 40-day moving average
23.28 --- the contract low