We present a novel static analysis for approximating the algebraic relational semantics of imperative programs. Our method is based on abstract interpretation in the lattice of polynomial pseudo ideals of bounded degree – finite-dimensional vector spaces of polynomials of bounded degree which are closed under bounded degree products. For a fixed bound, the space complexity of our approach and the iterations required to converge on fixed points are bounded by a polynomial in the number of program variables. Nevertheless, for several programs taken from the literature on non-linear polynomial invariant generation, our analysis produces results that are as precise as those produced by more heavy-weight Gröbner basis methods.