DOW JONES NEWSWIRES

NOVEMBER SOYBEANS


  November soybeans closed higher Friday, but stalled below initial resistance
from Thursday's high at $9.84 1/2. The contract posted an inside day, in which
price remained within Thursday's high and low.

  However, last week's price action saw a bullish upside "breakout" from a
trading range on the daily chart.

  The next upside price objective for the bean bulls is to push and close
November 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 $9.20 a bushel.

  First resistance for November soybeans is seen at Thursday's high of $9.84
1/2 and then at $10.00. First support is seen at $9.64 and then at $9.50.

$15.57 1/2 -- the contract high
$9.28 1/2 --- 10-day moving average
$9.20 3/4
 20-day moving average
$9.74 1/4 --- 40-day moving average
$6.70 
--- the contract low

DECEMBER SOYBEAN MEAL


  December soybean meal extended the rally Friday, pushing to a new three-week
high. A seven-week-old downtrend on the daily bar chart was negated last week.

  The next upside price objective for the bulls is to produce a close above
solid technical resistance at $312.00. The next downside price objective for
the bears is pushing and closing prices below solid technical support at
$280.00.

  First resistance comes in at Friday's high of $301.50 and then at $305.00.
First support is seen at $294.50 and then at $290.00.

$399.00 --- contract high
$282.40 --- 10-day moving average
$282.70 --- 20-day moving average
$299.60 --- 40-day moving average
$203.30 --- the contract low

DECEMBER SOYBEAN OIL


  December soybean oil settled a smidge higher Friday, but remained stymied by
key near-term resistance at 36.05, the July 20 swing high. Beyond that, 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 last week's low of 33.75 cents.

  First resistance is seen at 36.05 cents and then at 36.24 cents. First
support is seen at 35.00 cents and then at 34.50 cents.

70.00 --- the contract high
35.08 --- 10-day moving average
34.63 --- 20-day moving average
36.25 --- 40-day moving average
30.00 --- the contract low