By Jim Wyckoff

  DOW JONES NEWSWIRES

NOVEMBER SOYBEANS


  November soybean prices Monday closed solidly lower and near the session low
and hit a fresh six-week low. Serious near-term chart damage has been inflicted
recently. Prices have seen a downside "breakout" from a bearish descending
triangle pattern on the daily bar chart. The next upside price objective for
the bean bulls is to push and close prices above solid technical resistance at
$15.00 a bushel. The next downside price objective for the bears is pushing and
closing prices below solid psychological support at $14.00. First resistance
for November soybeans is seen at $14.30 and then at Monday's high of $14.46
1/2. First support is seen at $14.00 and then at $13.75.

16.36 3/4 --- the contract high
15.24 1/4 --- 10-day moving average
15.44 1/2 --- 20-day moving average
14.91 3/4 --- 40-day moving average
5.98 

 the contract low

DECEMBER SOYBEAN MEAL


  December soymeal prices Monday closed solidly lower and near the session low
and hit a fresh six-week low. Serious chart damage has occurred recently. The
next upside price objective for the bulls is to produce a close above solid
technical resistance at $390.00. The next downside price objective for the
bears is pushing and closing prices below solid support at $350.00. First
resistance comes in at $370.00 and then at Monday's high of $376.60. First
support is seen at $365.00 and then at $360.00.

$431.90 --- the contract high
$402.50 --- 10-day moving average
$405.40 --- 20-day moving average
$382.90 --- 40-day moving average
$172.20 --- the contract low

DECEMBER SOYBEAN OIL


  December bean oil prices Monday closed solidly lower and near the session low
and hit a fresh seven-week low. Prices also saw a downside "breakout" from a
bearish descending triangle pattern 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 64.00 cents. Bean oil bears' next downside
technical price objective is pushing and closing prices below solid support at
60.00 cents. First resistance is seen at 62.00 cents and then at 62.50 cents.
First support is seen at Monday's low of 61.19 cents and then at 61.00 cents.

74.00 --- the contract high
64.71 --- 10-day moving average
65.94 --- 20-day moving average
65.56 --- 40-day moving average
23.28 --- the contract low