CHICAGO (Dow Jones)--Soybean futures at the Chicago Board of Trade ended
 lower across the board Wednesday, with nearby contracts stumbling below the
 psychological $6.00 per bushel level on speculative fund selling. 
  
   November soybeans ended 12 1/4 cents lower at $5.98 3/4, December soymeal
 settled $1.90 lower at $185.60 a short ton, while December soyoil ended 49
 points lower at 22.80 cents a pound. 
  
   The market has regained the mindset that the path of least resistance in
 down, with the absence of any fresh bullish attributes, bearish export
 prospects with the port of New Orleans closed and heavy commercial deliveries
 against the spot month generating a defensive bias in the market, analysts
 said. 
  
   Technically inspired selling was a featured attraction, with declines
 accelerating once the most active November contract penetrated support levels
 at $6.10, $6.04 and $6.00 per bushel. However, the inability of November
 futures to challenge last week's low of $5.95 1/2 gave bullish traders modest
 hope, analysts said. 
  
   Nevertheless, bearish momentum has taken control of the market, with traders
 taking a closer look at the ramifications of the closure of the port of New
 Orleans. The market has taken notice that with roughly half of the U.S. soy
 crop used for export, and with export pricing pulled from the market due to
 port closures in New Orleans, buyers were content to sit on the sidelines, said
 a CBOT commission house broker. 
  
   The lack of buyers opened the door from speculative sales to weigh on prices
 and with commercials delivering soybeans, market bulls had little to hang their
 hats on, he added. 
  
   On tap for Thursday, U.S. Department of Agriculture is scheduled to release
 its weekly export sales report 7:30 a.m. CDT, with analysts looking for soybean
 commitments in a range of 650,000 to 900,000 metric tons. 
  
   In pit trades, Cargill, Refco and Kottke each bought 500 November. Refco sold
 2,000 November, ABN Amro sold 500 November, Cargill Investor Services sold
 1,000 November, Citigroup sold 1,000 November, Fimat sold 700 November and
 Goldenberg Hehmeyer sold 1,500 November. Commodity fund selling was estimated
 at 6,500 contracts. 
  
   South American soybean futures ended mixed. The September futures settled 1/2
 cent higher at $6.52 1/2. 
  
  
 SOY PRODUCTS 
  
  
   Soy product futures ended lower, following the lead of soybeans. Soyoil
 futures were down sharply, retracing most of Tuesday's gains. The market ran
 into an air pocket of buying, with sellers in full command of direction, said a
 CBOT commission house broker. 
  
   The absence of the bullish enthusiasm that filtered through the market
 Tuesday tied to biodiesel fuel, as energy prices drifted lower Wednesday, kept
 futures backpedaling for most of the day, he added. 
  
   December oil share slipped to 38.05%, and the November/December crush was at
 60 1/4 cents. 
  
   In soymeal trades, Cargill, Bunge, Citigroup and Rand Financial were buyers.
 Cargill, Cargill Investor Services, Citigroup and Refco were noted sellers.
 Speculative fund sales were estimated at 2,000 contracts. 
  
   In soyoil trades, Cargill bought 800 December, Goldenberg Hehmeyer bought 400
 December, Refco bought 300 December, Bunge Chicago bought 200 December and
 Citigroup and Man Financial each sold 300 December, Tenco sold 200 December and
 Refco sold 200 October, 200 December and 300 March.