By Jim Wyckoff

  DOW JONES NEWSWIRES

NOVEMBER SOYBEANS


  November soybean prices Friday closed weaker, nearer the session low but did
hit another fresh contract high. Bulls still have solid near-term technical
momentum on their side, amid no early warning signals of a market top being
close at hand. Traders are anxiously awaiting Monday morning's USDA planted
acres report. The next upside price objective for the bean bulls is to push and
close prices above major psychological resistance at $16.00 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 $14.73 3/4. First resistance for
November soybeans is seen at Friday's contract high of $15.79 and then at
$16.00. First support is seen at Friday's low of $15.51 and then at $15.40.

15.79 

 the contract high
15.28 3/4 --- 10-day moving average
14.84 3/4 --- 20-day moving average
13.95 1/4 --- 40-day moving average
5.98 

 the contract low

DECEMBER SOYBEAN MEAL


  December soymeal prices Friday closed higher, near the session high and hit
another fresh contract high. Bulls have solid upside technical momentum, amid
still 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 $420.00. The next downside price objective for the bears is pushing and
closing prices below solid support at $395.00. First resistance comes in at
Friday's contract high of $409.00 and then at $412.50. First support is seen at
Friday's low of $403.70 and then at $400.00.

$409.00 --- the contract high
$395.30 --- 10-day moving average
$377.30 --- 20-day moving average
$348.70 --- 40-day moving average
$172.20 --- the contract low

DECEMBER SOYBEAN OIL


  December bean oil prices Friday closed weaker and near mid-range. Bean oil
bulls have the near-term technical advantage. A three-month-old uptrend is 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 the
June high of 70.31 cents. Bean oil bears' next downside technical price
objective is pushing and closing prices below solid support at last week's low
of 63.46 cents. First resistance is seen at Friday's high of 68.21 cents and
then at 69.00 cents. First support is seen at Friday's low of 66.86 cents and
then at 66.00 cents.

74.00 --- the contract high
66.45 --- 10-day moving average
65.81 --- 20-day moving average
64.03 --- 40-day moving average
23.28 --- the contract low