By Andrew Johnson Jr.
 
   Of DOW JONES NEWSWIRES
 
 
   CHICAGO (Dow Jones)--Chicago Board of Trade soybean futures ended sharply
 lower Tuesday, pressured by broad-based speculative selling linked to a large
 drop in crude oil prices and favorable near-term weather.
 
   August soybeans settled 40 cents lower at $15.42 and November soybeans ended
 43 cents lower at $15.16.
 
   December soymeal settled $13.90 lower at $401.30 per short ton. December
 soyoil finished 76 points lower at 64.44 cents per pound.
 
   The absence of fresh fundamental news to feed bullish appetites kept buyers
 cautious, and once crude oil futures tumbled, speculative selling quickly
 filtered through the CBOT grain and oilseed complex, analysts said.
 
   Midwest weather is seen as favorable for crop development, with seasonably
 warm temperatures and above-normal precipitation forecasted into next week
 weighing on prices as well, analysts added.
 
   Active contracts stumbled to one-week lows, with technical pressure helping
 to accelerate the declines, traders said. Nevertheless, downside pressure was
 limited, as the overall fundamental outlook of the market remains bullish,
 traders added.
 
   A tight supply and demand balance sheet will keep attention on the
 development of late-planted crops, and any shift from benign conditions to a
 pattern that threatens yields is seen buoying prices as well as encouraging
 traders to add risk premium back in, a CBOT floor analyst says.
 
   However, without a fresh dose of bullish news, the market will struggle to
 sustain price gains near record levels, he added.
 
   The DTN Meteorlogix weather forecast said the next few days continue to bring
 at least scattered rains to the Midwest soybean belt. The forecast maintains
 periodic rainfall through the balance of the week. The most rain will focus on
 northern Midwest crop areas, with up to 2 1/2 inches of rainfall in Minnesota
 and Wisconsin. In general, moisture will be favorable for crop development,
 Meteorlogix said.
 
   Hot weather over the western Midwest will be fairly short-lived due to
 thunderstorms during the next few days. The eastern Midwest may see a little
 more of an extended drier, warmer spell but not enough to significantly affect
 crop conditions, Meteorlogix added.
 
   In pit trades, buyers and sellers were scattered among various commission
 houses, with speculative fund selling estimated at 4,000 lots.
 
    SOY PRODUCTS
 
 
   Soy product futures tumbled in step with soybeans, succumbing to broad- based
 sales throughout the complex. Outside market influences and the need to keep
 spread relationships inline, forced soyoil and soymeal drop in unison with
 soybeans, analysts said. Soyoil was influenced by sharp declines in crude oil,
 but managed to gain product share of the unwinding of meal/oil spreads and
 commercial buying on breaks, traders added.
 
   December oil share ended at 44.53% and the November/December crush ended at
 75 3/4 cents.
 
   In soymeal trades, buyers and sellers were scattered among various commission
 houses, with speculative fund selling estimated at 2,000 lots.
 
   In soyoil trades, buyers and sellers were scattered among various commission
 houses, with speculative fund selling estimated at 2,000 lots, and commercial
 buying estimated at 2,000 lots.