CHICAGO (Dow Jones)--Soybean futures on the Chicago Board of Trade ended a
 choppy, two-sided session modestly higher Monday, as participants continued to
 position themselves in a volatile weather market, traders said. 
  
   August soybeans ended 1/2 cent higher at $6.69 3/4 a bushel, November
 soybeans ended 3 cents higher at $6.82 1/2, August soymeal settled $0.40 lower
 at $212.20 a short ton, and August soyoil ended 8 points higher at 24.59 cents
 a pound. 
  
   The uncertainty of weather as soybean crops march toward their critical
 pod-filling stage of development generated general uneasiness in the market,
 with traders unwilling to aggressively push prices in either direction, said a
 CBOT commission house broker. 
  
   Beneficial rains and cooler temperatures expected in parts of the Midwest by
 Wednesday following a weekend of triple-digit temperatures applied mild
 pressure to prices. However, private forecasters predicting a return to hot and
 dry conditions by next week managed to generate underlying support to keep
 prices jockeying back and forth. 
  
   Technically inspired activity added to the mixed tone, with talk of recent
 declines being overdone providing support, while the inability of the market to
 challenge major moving-average resistance resting above the market limited
 momentum. 
  
   Aside from the weather, futures had few directives, with the fundamental
 makeup of the market unchanged. A tight projected 2005-06 balance sheet has
 left little room for production errors, but with a seasonal lull in export
 demand and the potential for the crop to produce average yields if rains become
 consistent in August, kept prices hovering within a trading range. 
  
   Meanwhile, weekly soybean export inspections from the U.S. Department of
 Agriculture totaled 7.598 million bushels, down from 2.828 million last week.
 This was at the high end of expectations that ranged from 3 million to 7
 million bushels. 
  
   At 3 p.m. CDT (2000 GMT), the USDA is scheduled to release its weekly crop
 progress report. Analysts surveyed by Dow Jones Newswires anticipate crop
 ratings holding steady to down 1 percentage point in the good-to-excellent
 category. 
  
   In pit trades, ADM Investor Services bought 300 November, Cargill bought
 1,500 November, Citigroup bought 500 November, Bunge Chicago bought 200
 November, and Refco bought 400 November. 
  
   On the sell side, Cargill Investor Services sold 400 November, Refco sold 500
 November, Man Financial sold 400 November, and Citigroup sold 1,000 November. 
  
  
    Soy Products 
  
  
   Soy-product futures ended mostly higher, following soybeans. Both markets
 experienced two-sided action, with early speculative-led selling offset by
 scale-down commercial buying and spillover from a recovery in soybeans. 
  
   Light soyoil/soymeal spreading allowed oil to gain at the expense of soymeal,
 with nearby meal futures losing ground to deferred months as the market trimmed
 some of the old-crop/new-crop spread premium. 
  
   August oil share ended at 36.69%, and the August crush finished at 67 1/2
 cents. 
  
   In soymeal trades, Rand Financial bought 300 December, and Citigroup,
 Goldenberg Hehmeyer and Merrill Lynch each bought 200 December. Refco and
 Cargill each sold 200 December, with Fimat, Prudential Financial and RJ O'Brien
 light sellers. 
  
   In soyoil trades, ADM Investor Services bought 200 August, Cargill bought 600
 August, Calyon Financial bought 500 December, Cargill Investor Services bought
 300 December, and Tenco bought 300 August. Citigroup sold 300 September, with
 ADM Investor Services and Tenco featured sellers.