By Jim Wyckoff

  DOW JONES NEWSWIRES

NOVEMBER SOYBEANS


  November soybean prices Friday closed solidly lower, near the session low, at
a bearish weekly low close and closed at a fresh two-month low close. Bears
have gained some fresh downside near-term technical momentum. Prices are still
in a four-week-old downtrend on the daily bar chart. 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 solid technical support at the July low of
$13.51 3/4. First resistance for November soybeans is seen at $13.80 and then
at $14.00. First support is seen at Friday's low of $13.62 3/4 and then at
$13.51.

16.36 3/4 --- the contract high
13.91 3/4 --- 10-day moving average
14.65 3/4 --- 20-day moving average
14.98 1/4 --- 40-day moving average
5.98 

 the contract low

DECEMBER SOYBEAN MEAL


  December soymeal prices Friday closed solidly lower on profit-taking pressure
from recent gains. The next upside price objective for the bulls is to produce
a close above solid technical resistance at last week's high of $380.20. The
next downside price objective for the bears is pushing and closing prices below
solid support at the July low of $353.30. First resistance comes in at $370.00
and then at $375.00. First support is seen at Friday's low of $365.00 and then
at $362.00.

$431.90 --- the contract high
$366.50 --- 10-day moving average
$386.60 --- 20-day moving average
$390.00 --- 40-day moving average
$172.20 --- the contract low

DECEMBER SOYBEAN OIL


  December bean oil prices Friday closed sharply lower, at a bearish weekly low
close and hit a fresh three-month low. Near-term chart damage has been
inflicted recently, including more on Friday. Prices are in a steep
four-week-old downtrend 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 60.00 cents. Bean oil bears' next downside technical price
objective is pushing and closing prices below solid support at the May low of
56.84 cents. First resistance is seen at 58.00 cents and then at 59.00 cents.
First support is seen at Friday's low of 57.49 cents and then at 57.00 cents.

74.00 --- the contract high
59.97 --- 10-day moving average
62.61 --- 20-day moving average
64.76 --- 40-day moving average
23.28 --- the contract low