By Jim Wyckoff

  DOW JONES NEWSWIRES


  NOVEMBER SOYBEANS


  November soybean prices Thursday closed solidly higher and nearer the session
high and hit a fresh three-week high. Beans rallied amid bullishly postured
"outside markets"--sharply higher crude oil prices and a sharply lower U.S.
dollar. Bulls have gained solid upside near-term technical momentum this week.
The next upside price objective for the bean bulls is to push and close prices
above psychological resistance at $14.00 a bushel. The next downside price
objective for the bears is pushing and closing prices below psychological
support at $13.00. First resistance for November soybeans is seen at Thursday's
high of $13.69 3/4 and then at $14.00. First support is seen at $13.41 and then
at $13.25.

16.36 3/4 --- the contract high
12.58 

 10-day moving average
12.97 3/4 --- 20-day moving average
14.12 1/4 --- 40-day moving average
5.98 

 the contract low


  DECEMBER SOYBEAN MEAL


  December soymeal prices Thursday closed higher and near mid-range and did
close at a fresh three-week high close. The next upside price objective for the
bulls is to produce a close above solid technical resistance at Thursday's high
of $368.40. The next downside price objective for the bears is pushing and
closing prices below solid technical support at $350.00. First resistance comes
in at Thursday's high of $368.40 and then at $370.00. First support is seen at
Thursday's low of $351.60 and then at $350.00.

$431.90 --- the contract high
$340.90 --- 10-day moving average
$348.30 --- 20-day moving average
$374.70 --- 40-day moving average
$172.20 --- the contract low


  DECEMBER SOYBEAN OIL


  December bean oil prices Thursday closed up the 250-point limit at 56.35
cents. Prices hit a fresh three-week high amid the big rally in crude oil
prices today. The next upside price objective for the bean oil bulls is pushing
and closing prices above solid technical resistance at 58.00 cents. Bean oil
bears' next downside technical price objective is pushing and closing prices
below solid technical support at today's low of 53.56 cents. First resistance
is seen at the May low of 56.94 cents and then at 57.50 cents. First support is
seen at 56.00 cents and then at 55.00 cents.

74.00 --- the contract high
52.74 --- 10-day moving average
54.98 --- 20-day moving average
60.10 --- 40-day moving average
23.28 --- the contract low