CHICAGO (Dow Jones)--Soybean futures at the Chicago Board of Trade ended
 modestly higher Thursday, quietly consolidating Wednesday's sharp declines amid
 the absence of fresh market moving news. 
  
   August soybeans ended 1 1/4 cent higher at $6.71 1/4 a bushel, November
 soybeans ended 1 cent higher at $6.82 1/2, December soymeal settled $2.50
 higher at $212.30 a short ton, and December soyoil ended 30 points lower at
 24.42 cent a pound. 
  
   "It was a thinly traded market, with prices chopping around in a narrow
 trading range for most of the day," said a CBOT commission house broker. The
 inability of November futures to breach underlying support near $6.80 served as
 an underpinning feature throughout the day, with the reluctance of buyers to
 aggressively push prices without evidence of crop damage limiting upside
 potential, he added. 
  
   The sideways price theme was consistent from the outset, with concerns over
 summer dryness in the Midwest and reports of light showers moving across key
 areas of the soybean belt overnight and Thursday afternoon keeping traders on
 edge. 
  
   Futures were seemingly in a holding pattern awaiting fresh directives. The
 market watched movement in corn once again, with traders interested in if corn
 could hold major support at its 200-day moving average, amid ideas a breach of
 that support level would uncork fund long liquidation that would spillover into
 the soybean market, said Mike Zuzolo, chief analyst with Risk Management
 Commodities Inc. in Lafayette Ind. 
  
   Nevertheless, traders expect the choppy environment to linger until a
 definitive picture of the 2005 U.S. soybean crops yield and production
 potential can be assessed. 
  
   Otherwise, futures had few fresh influences, with a decent weekly export
 sales figure from the U.S. Department of Agriculture helping create enough
 support for prices to consolidate Wednesday's declines. 
  
   In early pit trades, Citigroup bought 400 November, Man Financial bought 300
 November and DT Trading bought 600 November. Citigroup sold 500 November,
 Cargill Investor Services, Fimat, O'Connor, RJ O'Brien and Refco each sold 200
 November. 
  
   South American soybean futures ended modestly higher. The September futures
 settled 1 cent higher at $6.99. 
  
  
 SOY PRODUCTS 
  
  
   Soymeal futures ended firm, bouncing back from Wednesday's losses. However,
 activity was fairly subdued with futures trading inside days on technical
 charts with technical resistance at the December contracts 10-day moving
 average providing a ceiling for prices. 
  
   Soyoil futures ended lower across the board, sinking to two week lows on
 technical selling. The market continued its correction from previous highs,
 with the absence of fresh news to feed the appetite on market bulls attracting
 selling interest. 
  
   December oil share ended at 36.51%, and the November/December crush finished
 at 53 1/4 cent. 
  
   In soymeal trades, Cargill Investor Services bought 300 December, Bunge
 Chicago bought 200 December, Refco bought 200 September and Fimat bought 200
 September. Sellers were scattered among various firms with Kottke a featured
 seller of 400 December. In soyoil trades, Cargill Investor Services and Refco
 each bought 400 December, Citigroup bought 200 December and Tenco bought 200
 August. Bunge Chicago and Refco each sold 400 December, Cargill Investor
 Services sold 600 December, Man Financial sold 300 December, Fimat and Merrill
 Lynch each sold 200 December.