DOW JONES NEWSWIRES

  JULY SOYBEANS

  July soybeans on Friday closed weaker and near mid-range. Prices did hit a
fresh eight-month high early on. The key "outside  markets" were mostly bearish
for the soybean futures market  Friday, as the U.S. stock indexes were
steady-weaker, crude oil  prices were steady-weaker higher and the U.S. dollar
was sharply  higher. Bean bulls still have the solid near-term technical
advantage.

  Prices are in a three-month-old uptrend on the daily  bar chart. The next
upside price objective for the bean bulls is  to push and close prices above
major psychological resistance at  $13.00 a bushel. The next downside price
objective for the bears  is pushing and closing prices below solid support at
last week's  low of $11.77 a bushel. First resistance for July soybeans is
seen at Friday's high of $12.36 1/2 and then at $12.50. First  support is seen
at Friday's low of $12.11 1/2 and then at $12.00.


  $16.50 

 the contract high

  $11.96 3/4 --- 10-day moving average

  $11.68 1/2 --- 20-day moving average

  $11.06 3/4 --- 40-day moving average

  $6.85 

 the contract low


  JULY SOYBEAN MEAL


  July soybean meal on Friday closed weaker and near mid-range on  profit
taking. Prices did hit a fresh 10.5-month high early on. Meal bulls still have
the solid near-term technical advantage. Prices are still in a three-month-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 $410.00. The  next
downside price objective for the bears is pushing and  closing prices below
solid technical support at this week's low  of $378.00. First resistance comes
in at Friday's high of $399.80  and then at $402.50. First support is seen at
Friday's low of  $392.50 and then at $390.00.


  $435.50 --- contract high

  $387.00 --- 10-day moving average

  $373.50 --- 20-day moving average

  $348.00 --- 40-day moving average

  $203.30 --- the contract low


  JULY SOYBEAN OIL


  July soybean oil on Friday closed lower and nearer the session  low. The key
"outside markets" were mostly bearish for the bean  oil futures market Friday,
as the U.S. stock indexes were  steady-lower, crude oil prices were
steady-lower and the U.S.  dollar was sharply higher. Bean oil bulls still have
the  near-term technical advantage.

  Prices are in a 2.5-month-old  uptrend on the daily bar chart. The next
upside price objective  for the bean oil bulls is pushing and closing prices
above solid  technical resistance at 42.50 cents. Bean oil bears' next
downside technical price objective is pushing and closing prices  below solid
technical support at 38.00 cents. First resistance is  seen at Friday's high of
40.34 cents and then at last week's high  of 40.60 cents. First support is seen
at Friday's low of 39.50  cents and then at last week's low of 38.85 cents.


  71.90 --- the contract high

  39.08 --- 10-day moving average

  38.91 --- 20-day moving average

  37.89 --- 40-day moving average

  29.23 --- the contract low