By Jim Wyckoff
DOW JONES NEWSWIRES


  NOVEMBER SOYBEANS

  November soybeans on Thursday closed lower, nearer the session low and scored
a bearish "outside day" down on the daily bar chart. Serious  near-term
technical damage has occurred this week. Bears have the near-term  technical
advantage.

  The next upside price objective for the bean bulls is  to push and close
November prices above major psychological resistance at  $10.00 a bushel. The
next downside price objective for the bears is pushing  and closing prices
below psychological support at $9.00 a bushel.

  First  resistance for November soybeans is seen at $9.50 and then at today's
high  of $9.62 3/4. First support is seen at Thursday's low of $9.29 1/2 and
then  at $9.20.

  $15.57 1/2 --- the contract high

  $9.81 
--- 10-day moving average

  $9.88 1/2 --- 20-day moving average

  $9.66 1/2 --- 40-day moving average

  $6.70 
--- the contract low


  DECEMBER SOYBEAN MEAL

  December soybean meal on Thursday closed lower, nearer the session low and
hit a two-week low. Prices also scored a bearish "outside day" down on  the
daily bar chart Thursday. Bears still have the near-term technical  advantage.

  The next upside price objective for the bulls is to produce a  close above
solid technical resistance at this week's high of $310.00. The  next downside
price objective for the bears is pushing and closing prices  below solid
technical support at the August low of $278.00.

  First resistance  comes in at $290.00 and then at today's high of $294.60.
First support is  seen at Thursday's low of $283.30 and then at $280.00.

  $399.00 --- contract high

  $295.70 --- 10-day moving average

  $296.80 --- 20-day moving average

  $292.30 --- 40-day moving average

  $203.30 --- the contract low


  DECEMBER SOYBEAN OIL

  December soybean oil on Thursday closed weaker, near mid-range and hit
another five-week low. Prices are in a three-week-old downtrend on the  daily
bar chart and bears have gained downside technical momentum.

  The next  upside price objective for the bean oil bulls is pushing and
closing prices  above solid technical resistance at 36.00 cents. Bean oil
bears' next  downside technical price objective is pushing and closing prices
below solid  technical support at the July low of 32.80 cents.

  First resistance is seen  at Thursday's high of 35.10 cents and then at 35.38
cents. First support is  seen at Thursday's low of 34.25 cents and then at
34.00 cents.

  70.00 --- the contract high

  36.25 --- 10-day moving average

  36.87 --- 20-day moving average

  36.18 --- 40-day moving average

  30.00 --- the contract low