By Jim Wyckoff

  DOW JONES NEWSWIRES

NOVEMBER SOYBEANS


  November soybean prices Wednesday closed solidly higher and nearer the
session high. Bulls Wednesday regained some near-term technical momentum. Bulls
still have the overall near-term technical advantage. The next upside price
objective for the bean bulls is to push and close prices above solid technical
resistance at the contract high of $15.66 3/4 a bushel. The next downside price
objective for the bears is pushing and closing prices below solid technical
support at this week's low of $14.73 3/4. First resistance for November
soybeans is seen at Wednesday's high of $15.26 1/4 and then at $15.41 1/4.
First support is seen at $15.00 and then at Wednesday's low of $14.80 1/2.

15.66 3/4 --- the contract high
15.21 1/4 --- 10-day moving average
14.62 1/2 --- 20-day moving average
13.77 3/4 --- 40-day moving average
5.98 

 the contract low

DECEMBER SOYBEAN MEAL


  December soymeal prices Wednesday closed solidly higher and near the session
high. Bulls regained some fresh upside technical momentum Wednesday. Bulls
still have the solid near-term technical advantage, amid no early clues of a
market top being close at hand. The next upside price objective for the bulls
is to produce a close above solid technical resistance at the contract high of
$401.00. The next downside price objective for the bears is pushing and closing
prices below solid support at this week's low of $380.50. First resistance
comes in at Wednesday's high of $396.00 and then at $401.00. First support is
seen at $390.00 and then at Wednesday's low of $384.30.

$401.00 --- the contract high
$390.70 --- 10-day moving average
$369.50 --- 20-day moving average
$343.20 --- 40-day moving average
$172.20 --- the contract low

DECEMBER SOYBEAN OIL


  December bean oil prices Wednesday closed higher and near the session high
and scored a bullish "outside day" up on the daily bar chart. Short covering
and bargain-hunting buying were featured. Bean oil bulls still have the
near-term technical advantage. An 11-week-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 68.00 cents.
Bean oil bears' next downside technical price objective is pushing and closing
prices below solid support at Wednesday's low of 63.46 cents. First resistance
is seen at 66.00 cents and then at 66.50 cents. First support is seen at 65.00
cents and then at 64.50 cents.

74.00 --- the contract high
66.55 --- 10-day moving average
65.31 --- 20-day moving average
63.58 --- 40-day moving average
23.28 --- the contract low