By Jim Wyckoff
   DOW JONES NEWSWIRES

NOVEMBER SOYBEANS


  November soybeans on Friday closed lower, nearer the session low, hit a fresh
six-week low and closed at a bearish weekly low close. Serious near-term
technical damage has occurred recently. 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 Friday's high of $9.44 and then at $9.50. First support is
seen at Friday's low of $9.20 1/2 and then at $9.10.

$15.57 1/2 --- the contract high
$9.76 
--- 10-day moving average
$9.82 3/4 --- 20-day moving average
$9.66 1/2 --- 40-day moving average
$6.70 
--- the contract low

DECEMBER SOYBEAN MEAL


  December soybean meal on Friday closed lower, near the session low, hit a
fresh three-week low and closed at a bearish weekly low close. Bears still have
the near-term technical advantage and have gained fresh downside technical
momentum. The next upside price objective for the bulls is to produce a close
above solid technical resistance at $300.00. The next downside price objective
for the bears is pushing and closing prices below solid technical support at
the July low of $266.90. First resistance comes in at $285.00 and then at
Friday's high of $287.40. First support is seen at Friday's low of $280.60 and
then at the August low of $278.00.

$399.00 --- contract high
$294.80 --- 10-day moving average
$294.90 --- 20-day moving average
$292.10 --- 40-day moving average
$203.30 --- the contract low

DECEMBER SOYBEAN OIL


  December soybean oil on Friday closed weaker, near the session low, hit
another fresh five-week low and closed at a bearish weekly low close. Prices
are in a three-week-old downtrend on the daily bar chart and bears have
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 34.50 cents and then at Friday's high of 34.89
cents. First support is seen at Friday's low of 34.16 cents and then at 34.00
cents.

70.00 --- the contract high
35.98 --- 10-day moving average
36.70 --- 20-day moving average
36.20 --- 40-day moving average
30.00 --- the contract low