CHICAGO (Dow Jones)--Chicago Board of Trade soybean futures ended firmly
 Tuesday, closing at session highs as weather uncertainties and supportive
 underlying fundamental outlooks bolstered bullish enthusiasm, traders said. 
  
   July soybeans ended 10 1/2 cents higher at $6.98 1/2 a bushel, November
 soybeans ended 11 cents higher at $7.12 1/2, August soymeal settled $4.00
 higher at $218.90 a short ton, and August soyoil ended 20 points higher at
 25.04 cent a pound. 
  
   Futures managed to find its footing after a choppy start, with tight new crop
 balance sheet projections, production uncertainties, fears of the spread of
 Asian rust and insects attracting speculative buying, amid ideas downside
 movement has more limitations than the upside, analysts said. 
  
   Speculative buying fueled the late price spike, with buying from Refco
 triggering buy stops to lift prices to session highs down the stretch, pit
 traders said. Rains moving across parts of the eastern corn belt cast a
 defensive cloud over the market initially, overshadowing supportive supply and
 demand projections and declining crop ratings released Monday afternoon. 
  
   However, as selling pressure diminished, futures managed to bounce higher,
 benefiting from assumptions that without additional showers beyond current
 remnants of Dennis, eastern Midwest crops have little relief from drought
 stress. 
  
   Technical buying was a featured attraction, with stops triggered once the
 most active November future climbed firmly above the $7.00 and $7.10 per bushel
 level. A general lack of selling near the highs aided the upward tone, as the
 market searches for reasonable level of risk premium in the market. 
  
   Meanwhile, the DTN Meteorlogix weather forecast calls for widespread
 thunderstorms during the next 24 hours in the eastern Midwest. Southern and
 eastern Illinois east to Ohio is seen experiencing the heaviest rains, while
 the remainder of the region will have rains of less than an inch. After
 Thursday, rainfall chances will drop dramatically for this area, Meteorlogix
 added. 
  
   In pit trades, ADM Investor Services bought 400 November, Cargill bought 500
 November, Fimat bought 700 November, Refco bought 600 November, O'Connor, Tenco
 and UBS Securities each bought 300 November. 
  
   On the sell side, ADM Investor Services sold 600 November, Bunge Chicago sold
 400 November, Cargill Investor Services sold 1,000 November, Refco sold 1,200
 November, Man Financial, Fimat and O'Connor each sold 300 November, Citigroup
 sold 700 November. SOY PRODUCTS 
  
   Soyproduct futures ended higher across the board, feeding off the bullish
 momentum of soybeans. Aside from the soybean spillover, soymeal was bolstered
 by supportive supply and demand report data showing increased demand
 projections. 
  
   Soyoil lost ground to soymeal Tuesday, with the unwinding soyoil/soymeal
 spreads amid higher ending stocks projections from the USDA amid increased
 crushing outlooks, limiting upside momentum, traders said. 
  
   August oil share declined to 36.38%, and the August crush finished at 56 1/2
 cent. 
  
   In soymeal trades, ADM Investor Services and Cargill each bought 200 August.
 ABN Amro sold 700 September, Tenco sold 400 September and Refco sold 400
 December. 
  
   In soyoil trades, ADM Investor Services bought 500 August, 300 September abd
 400 December, Tenco bought 300 December. Bunge Chicago sold 200 August and 300
 December, RJ O'Brien sold 300 December, and Refco sold 200 August.