By Andrew Johnson Jr
 
   Of Dow Jones Newswires
 
 
   CHICAGO (Dow Jones)--Chicago Board of Trade soybean futures ended higher
 Monday, supported by technical buying and lingering concerns over 2007 soybean
 acreage.
 
   May soybeans ended 6 cents higher at $7.53 1/2, November soybeans finished 9
 1/2 cents higher at $8.03. May soymeal settled $1.50 higher at $219.50 per
 short ton, while Mary soyoil ended 22 points higher at 30.99 cents a pound.
 
   The soybean market's strength was rather impressive in the face of lower corn
 and wheat futures for most of the day, said Chad Henderson, analyst with Prime
 Agricultural Consultants Inc. in Brookfield, WI.
 
   The big picture in soybeans is the market's ability to hold major moving
 average support at its respective 50-day moving averages, and that attracted
 speculative buyers to defend market length, Henderson added.
 
   A quiet news front kept attention focused on technical factors, with a
 bullish acreage debate continuing to keep prices underpinned, analysts said.
 Aggressive bear spreading was a feature, as new crop contracts remain the
 driving force behind market strength in the face of acreage uncertainties,
 Henderson said.
 
   The DTN Meteorlogix Weather Service forecast said central U.S. crop areas
 will experience a change this week as a pressure trough moves in. The western
 Midwest will see the effects of this weather system Tuesday night with up to
 about an inch of rain in the south and about half an inch farther north, with
 locally heavier showers possible.
 
   For the eastern Midwest, up to about half an inch of rain will continue into
 Monday night, but will stop Tuesday. Wednesday through Friday, a quarter inch
 up to an inch of rainfall is expected. As the Midwest gears up for spring
 planting, the moisture is welcomed, but fieldwork will be delayed. Temperatures
 across the Midwest are expected to trend above-normal for the rest of the week,
 Meteorlogix forecasts.
 
   U.S. Department of Agriculture reported 21.184 million bushels of soybeans
 were inspected for export in the week ended March 15. The export figure was
 down 31% from the previous week's 30.571 million bushels. Analysts surveyed by
 Dow Jones Newswires projected the inspections to fall within a range of 25
 million to 40 million bushels. Accumulated soy inspections total 821.141
 million bushels, up 22.2% from the 671.789 million bushels reported at the same
 time last year.
 
   In pit trades, Rand Financial bought 500 May, JP Morgan bought 200 May and
 ADM Investor Services bought 200 November. JP Morgan sold 300 May, Rand
 Financial, Fortis and Tenco each sold 200 May, RJ O'Brien and Tenco each sold
 200 July. Speculative fund buying was estimated at 2,000 lots.
 
 SOY PRODUCTS
 
 
   Soy product futures ended higher across the board Monday, climbing in unison
 with advances in soybeans. Soyoil futures bounced on speculative and technical
 buying, as nearby prices climbed to their highest level since February 28. The
 ability of futures to eclipse resistance at Friday's highs accelerated the
 gains, with a late burst of local fund buying underpinning prices down the
 stretch, traders said.
 
   Soymeal advanced on the heals of soybeans, with technically motivated buying
 a feature once the nearby May futures pierced above the contract's 50-day
 moving average, analysts said.
 
   May oil share ended at 41.38% and the May crush ended at 64 1/4 cents.
 
   In soymeal trades, buyers and sellers were lightly scattered among various
 commission houses. JP Morgan and Rosenthal were featured buyers, with JP Morgan
 and Fortis key sellers. Speculative funds were light net buyers on the day.
 
   In soyoil trades, buyers and sellers were scattered among various commission
 houses, with Citigroup buying 1,000 May, and Fimat a buyer of 200 May.
 Speculative fund buying was estimated at 1,500 lots.