By Jim Wyckoff

  DOW JONES NEWSWIRES


  NOVEMBER SOYBEANS


  November soybeans on Tuesday closed weaker and nearer the session high after
scoring a fresh two-month low early on. Prices Tuesday also closed at a bearish
monthly low close. The key "outside markets" were bearish for soybeans Tuesday,
as the U.S. stock  indexes were lower, crude oil was solidly lower and the U.S.
dollar was stronger. The next upside price objective for the bean bulls is to
push and close prices above major psychological resistance at $10.00 a bushel.
The next downside price objective for the bears is pushing and closing prices
below solid technical support at Tuesday's low of $9.43 1/2 a bushel. First
resistance for November soybeans is seen at Tuesday's high of $9.93 3/4 and
then at $10.00. First support is seen at $9.70 and then at $9.60.

$15.57 1/2 --- the contract high
$10.05 

 10-day moving average
$10.33 1/4 --- 20-day moving average
$10.22 1/2 --- 40-day moving average
$6.70 

 the contract low


  DECEMBER SOYBEAN MEAL


  December soybean meal on Tuesday closed firmer and near the  session high
after hitting a fresh six-week low early on. Near-term technical damage has
been inflicted in meal recently. Prices are in a three-week-old downtrend on
the daily bar chart.  The next upside price objective for the bulls is to
produce a close above solid technical resistance at last week's high of
$313.70. The next downside price objective for the bears is pushing and closing
prices below solid technical support at Tuesday's low of $291.50. First
resistance comes in at this week's high of $307.60 and then at $310.00. First
support is seen at $302.00 and then at $300.00.

$399.00 --- contract high
$309.80 --- 10-day moving average
$317.00 --- 20-day moving average
$308.80 --- 40-day moving average
$203.30 --- the contract low


  DECEMBER SOYBEAN OIL


  December soybean oil on Tuesday closed lower, nearer the session  low, hit a
fresh three-month low and closed at a bearish monthly  and quarterly low close.
Bears gained more downside technical power Tuesday. Prices are in a
four-week-old downtrend 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 37.50 cents. Bean oil bears' next downside technical price
objective is pushing and closing prices below solid technical support at 34.00
cents. First resistance is seen at 36.00 cents and then at 36.51 cents. First
support is seen at Tuesday's low of 35.34 cents and then at 35.00 cents.

70.00 --- the contract high
37.17 --- 10-day moving average
38.30 --- 20-day moving average
38.90 --- 40-day moving average
30.00 --- the contract low