By Andrew Johnson Jr.
 
   Of DOW JONES NEWSWIRES
 
 
   CHICAGO (Dow Jones)--Chicago Board of Trade soybean futures ended sharply
 higher Monday, rising on a combination of technical buying, bullish demand
 outlooks and spillover support from soyoil futures.
 
   May soybeans settled 40 cents higher at $13.72 1/2, July soybeans finished 40
 cents higher at $13.89 1/4 and November soybeans ended 24 1/2 cents lower at
 $12.87. May soymeal settled $5.70 higher at $350.20 per short ton. May soyoil
 finished 156 points higher at 61.50 cents per pound.
 
   The market continued to pursue a recovery from its early April lows, with
 advances accelerating as prices eclipsed chart resistance at major moving
 averages, said John Kleist, analyst with Allendale Inc. in McHenry, Ill.
 
   The market also garnered support from a weaker U.S. dollar, strength in
 outside inflationary markets as well as advances in world vegoil prices, Kleist
 added.
 
   Meanwhile, talk of a frost in Argentina hurting the quality of the soybean
 crop and lingering uncertainties surrounding the possible resumption of a
 farmer's strike that stifled grain movement in Argentina and forced world
 importers to shift some demand to the U.S. kept sellers on the sidelines,
 traders said.
 
   However, lower-than-expected crushing data from the National Oilseed
 Processors Association served as an impediment to upside potential, Kleist
 said.
 
   Otherwise, spreads were featured, with demand and tightening stocks allowing
 futures to widen the spread between old and new crop contracts, a CBOT trader
 said. The soybean/corn spread ratio continued to realign as soybeans fight to
 hold onto projected increases in 2008 acres, he added.
 
   In pit trades, buyers and sellers were scattered among various commission
 houses, with speculative funds estimated buyers of 3,500 lots.
 
    SOY PRODUCTS
 
 
   Soy product futures rallied Monday, with soyoil futures the upside leader of
 the complex. Soyoil spiked higher, with nearby contracts gapping above key
 resistance at their 40- and 50-day moving averages, analysts said. Nearby
 contracts rallied to one-month highs, buoyed by strength in world vegoil
 markets amid supportive talk of demand from a vegoil conference in Dubai,
 lower-than-expected stocks data in the NOPA crush report and spillover support
 from soaring energy prices, analysts added.
 
   Soymeal futures were pulled higher with the rest of the soy complex, feeding
 off supportive outlooks for world feed demand, analysts said.
 
   May oil share ended at 46.75%, and the May crush ended at 74 1/4 cents.
 
   In soymeal trades, buyers and sellers were scattered among various commission
 houses, with speculative funds estimated buyers of 2,000 lots.
 
   In soyoil trades, buyers and sellers were scattered among various commission
 houses, with speculative funds estimated buyers of 4,000 lots.