By Jim Wyckoff
  DOW JONES NEWSWIRES


  JULY SOYBEANS


  July soybeans on Friday closed sharply higher, near the session  high, hit a
fresh seven-month high and closed at a bullish weekly  high close. This comes
on top of last Thursday's bullish monthly  high close. Bulls have solid upside
near-term technical momentum.  The next upside price objective for the bean
bulls is to push and  close prices above solid technical resistance at $11.50 a
bushel.  The next downside price objective for the bears is pushing and
closing prices below major psychological support at $10.00 a  bushel. First
resistance for July soybeans is seen at Friday's  high of $10.95 1/2 and then
at $11.00. First support is seen at  $10.76 and then at $10.64 1/2.

  $16.50 

 the contract high
  $10.30 

 10-day moving average
  $10.22 1/2 --- 20-day moving average
  $9.69 3/4 --- 40-day moving average
  $6.85 

 the contract low


  JULY SOYBEAN MEAL


  July soybean meal on Friday closed sharply higher, near the  session high,
hit a fresh seven-month high and closed at a  bullish weekly high close. This
comes on top of last Thursday's  bullish monthly high close. Bulls have solid
upside near-term  technical momentum. The next upside price objective for the
bulls  is to produce a close above solid technical resistance at  $350.00. The
next downside price objective for the bears is  pushing and closing prices
below solid technical support at the  January high of $327.20. First resistance
comes in at Friday's  high of $342.10 and then at $345.00. First support is
seen at  $337.20 and then at $335.00.

  $435.50 --- contract high
  $319.30 --- 10-day moving average
  $314.50 --- 20-day moving average
  $298.40 --- 40-day moving average
  $203.30 --- the contract low


  JULY SOYBEAN OIL


  July soybean oil on Friday closed sharply higher, near the  session high, hit
a fresh 3.5-month high and closed at a bullish  weekly high close. Bulls have
gained solid upside near-term  technical momentum. The next upside price
objective for the bean  oil bulls is pushing and closing prices above solid
technical  resistance at the January high of 38.19 cents. Bean oil bears'  next
downside technical price objective is pushing and closing  prices below solid
technical support at this last week's low of  34.87 cents. First resistance is
seen at Friday's high of 37.84  cents and then at 38.00 cents. First support is
seen at 37.50  cents and then at 37.00 cents.
  71.90 --- the contract high
  36.27 --- 10-day moving average
  36.23 --- 20-day moving average
  34.28 --- 40-day moving average
  29.23 --- the contract low