By Jim Wyckoff

  DOW JONES NEWSWIRES


  NOVEMBER SOYBEANS


  November soybean prices Friday closed solidly lower and nearer the session
low. Bearish "outside markets"--lower crude oil prices and a stronger U.S.
dollar--pressured beans Friday. The bulls are fading again, technically, with
Friday's sharp losses. Prices are still in a six-week-old downtrend 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 $12.50 a bushel. The next
downside price objective for the bears is pushing and closing prices below
solid technical support at the August low of $11.68. First resistance for
November soybeans is seen at $12.40 and then at $12.50. First support is seen
at Friday's low of $12.04 1/4 and then at $12.00.

16.36 3/4 --- the contract high
12.39 1/4 --- 10-day moving average
13.15 1/2 --- 20-day moving average
14.32 1/2 --- 40-day moving average
5.98 

 the contract low


  DECEMBER SOYBEAN MEAL


  December soymeal prices Friday closed sharply lower and nearer the session
low. Bulls are fading again. Prices are still in a five-week-old downtrend on
the daily bar chart. The next upside price objective for the bulls is to
produce a close above solid technical resistance at last week's high of
$357.80. The next downside price objective for the bears is pushing and closing
prices below solid technical support at the August low of $311.20. First
resistance comes in at $340.00 and then at $346.00. First support is seen at
Friday's low of $327.50 and then at $325.00.

$431.90 --- the contract high
$334.30 --- 10-day moving average
$350.40 --- 20-day moving average
$378.50 --- 40-day moving average
$172.20 --- the contract low


  DECEMBER SOYBEAN OIL


  December bean oil prices Friday closed sharply lower, near the session low,
at a bearish weekly low close and also hit a fresh 4.5-month low. Prices are
still in a steep six-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 last week's high of 54.00 cents. Bean oil bears'
next downside technical price objective is pushing and closing prices below
solid technical support at 50.00 cents. First resistance is seen at 51.00 cents
and then at 52.00 cents. First support is seen at Friday's low of 50.41 cents
and then at 50.00 cents.

74.00 --- the contract high
52.60 --- 10-day moving average
56.29 --- 20-day moving average
61.23 --- 40-day moving average
23.28 --- the contract low