By Jim Wyckoff

  Of DOW JONES NEWSWIRES


  JULY SOYBEANS
 July soybeans on Tuesday closed higher and nearer the session high and hit a
fresh 7.5-month high. Bulls still have the solid near-term technical advantage
and gained more power Tuesday. Prices are in an 11-week-old uptrend on the
daily bar chart. The next upside price objective for the bean bulls is to push
and close prices above psychological resistance at $12.00 a bushel. The next
downside price objective for the bears is pushing and closing prices below
solid support at the April high of $10.64 1/2 a bushel. First resistance for
July soybeans is seen at Tuesday's high of $11.69 1/4 and then at $11.75. First
support is seen at $11.50 and then at Tuesday's low of $11.41.

  $16.50 - the contract high

  $11.28 - 10-day moving average

  $10.87 - 20-day moving average

  $10.37 - 40-day moving average

   $6.85 - the contract low


  JULY SOYBEAN MEAL
 July soybean meal on Tuesday closed higher and nearer the session high and hit
another fresh 8.5-month high. Bulls have the solid near-term technical
advantage. The next upside price objective for the bulls is to produce a close
above solid technical resistance at $385.00. The next downside price objective
for the bears is pushing and closing prices below solid technical support at
$350.00. First resistance comes in at Monday's high of $375.90 and then at
$380.00. First support is seen at $370.00 and then at $366.70.

  $435.50 - contract high

  $353.30 - 10-day moving average

  $339.20 - 20-day moving average

  $320.50 - 40-day moving average

  $203.30 - the contract low


  JULY SOYBEAN OIL
 July soybean oil on Tuesday closed slightly higher and nearer the session low.
Bulls still have the near-term technical advantage, but are fading a bit and
need to show fresh power soon. 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 40.20 cents. Bean oil bears' next downside technical price
objective is pushing and closing prices below solid technical support at 36.00
cents. First resistance is seen at Tuesday's high of 38.80 cents and then at
39.00 cents. First support is seen at Tuesday's low of 37.95 cents and then at
this week's low of 37.30 cents.

  71.90 - the contract high

  38.89 - 10-day moving average

  37.78 - 20-day moving average

  36.47 - 40-day moving average

  29.23 - the contract low