By Jim Wyckoff

  OF DOW JONES NEWSWIRES


  MAY SOYBEANS
 May soybeans on Friday closed higher, near the session high, hit a fresh
four-week high and closed at a bullish weekly high close. Bulls have gained
good upside near-term technical momentum recently. Prices are in a
three-week-old uptrend on the daily bar chart. The next upside price objective
for the bean bulls is to push and close prices back above solid technical
resistance at $9.80 a bushel. The next downside price objective for the bears
is pushing and closing prices below solid technical support at $9.00 a bushel.
First resistance for May soybeans is seen at $9.60 and then at $9.70. First
support is seen at Friday's low of $9.35 1/4 and then at $9.25.

  $16.44 1/2 - the contract high

   $8.99 1/2 - 10-day moving average
    $8.83     - 20-day moving average

   $9.23 3/4 - 40-day moving average

   $7.86 1/2 - the contract low


  MAY SOYBEAN MEAL
 May soybean meal on Friday closed higher, near the session high, hit a fresh
four-week high and closed at a bullish weekly high close. Bulls have gained
good upside near-term technical momentum recently. Prices are in a
four-week-old uptrend on the daily bar chart. The next upside price objective
for the bulls is to produce a close above solid technical resistance at
$310.00. The next downside price objective for the bears is pushing and closing
prices below solid technical support at $284.00. First resistance comes in at
$302.50 and then at $305.00. First support is seen at Friday's low of $294.60
and then at $290.00.

  $433.60 - contract high

  $282.00 - 10-day moving average

  $274.40 - 20-day moving average

  $287.40 - 40-day moving average

  $237.00 - the contract low


  MAY SOYBEAN OIL
 May soybean oil on Friday closed higher, near the session high, and closed at
a fresh four-week high close and closed at a bullish weekly high close. Bulls
have gained some upside near-term technical momentum recently, but have more
work to do. Bean oil bears still have the overall near-term technical
advantage. The next upside price objective for the bean oil bulls is pushing
and closing prices above solid technical resistance at 34.00 cents. Bean oil
bears' next downside technical price objective is pushing and closing prices
below solid technical support at the contract low of 28.89 cents. First
resistance is seen at last week's high of 32.50 cents and then at 33.00 cents.
First support is seen at Friday's low of 31.83 cents and then at 31.31 cents.

  70.23 - the contract high

  30.94 - 10-day moving average

  30.98 - 20-day moving average

  31.90 - 40-day moving average

  28.89 - the contract low