DOW JONES NEWSWIRES

  NOVEMBER SOYBEANS

  November soybeans on Monday closed solidly higher and near the session high
on short covering and fresh speculative buying.

  Bulls have quickly gained some fresh upside near-term technical momentum. The
next upside price objective for the bean bulls is to push and close November
prices above solid technical resistance at $10.40 a bushel.

  The next downside price objective for the bears is pushing and closing prices
below solid technical support at last week's low of $9.40 1/2 a bushel.

  First resistance for November soybeans is seen at Monday's high of $10.08 3/4
and then at $10.20.

  First support is seen at $10.00 and then at $9.90.

  $15.57 1/2 --- the contract high

  $9.89 1/4 --- 10-day moving average

  $9.93 3/4 --- 20-day moving average

  $9.62 
--- 40-day moving average

  $6.70 
--- the contract low

  DECEMBER SOYBEAN MEAL

  December soybean meal on Monday closed solidly higher and near the session
high.

  Bulls have quickly gained fresh upside near-term technical momentum. The next
upside price objective for the bulls is to produce a close above  solid
technical resistance at the August high of $320.00.

  The next downside price objective for the bears is pushing and closing prices
below solid technical support at last week's low of $278.00.

  First resistance comes in at Monday's high of $300.20 and then at $305.00.
First support is seen at  $295.00 and then at Monday's low of $292.50.

  $399.00 --- contract high

  $294.50 --- 10-day moving average

  $299.30 --- 20-day moving average

  $293.00 --- 40-day moving average

  $203.30 --- the contract low

  DECEMBER SOYBEAN OIL

  December soybean oil on Monday closed higher and nearer the session high.
Bulls and bears are back on a level near-term technical playing field.

  The next upside price objective for the bean oil bulls is pushing and closing
prices above solid technical resistance at the August high of 39.70 cents.

  Bean oil bears' next downside technical price objective is pushing and
closing prices below solid technical support at last week's low of 36.00
cents.

  First resistance is seen at Monday's high of 37.94 cents and then at  38.50
cents. First support is seen at 37.50 cents and then at 37.00 cents.

  70.00 --- the contract high

  37.48 --- 10-day moving average

  37.08 --- 20-day moving average

  35.99 --- 40-day moving average

  30.00 --- the contract low

  -By Jim Wyckoff, contributing to Dow Jones Newswires