By Andrew Johnson Jr.
 
   Of DOW JONES NEWSWIRES
 
 
   CHICAGO (Dow Jones)--Chicago Board of Trade soybean futures climbed Tuesday,
 breaking a string of losses that spanned six consecutive sessions, on
 speculative short covering tied to oversold market conditions.
 
   August soybeans settled 7 1/4 cents higher at $14.16 3/4 and November
 soybeans ended 6 cents higher at $14.09.
 
   December soymeal settled 90 cents higher at $366.20 per short ton. December
 soyoil finished 25 points higher at 61.50 cents per pound.
 
   The market was deeply oversold, and once speculative liquidation was
 exhausted, futures found support and bounced higher, analysts said.
 
   Spillover weakness from crude oil futures, beneficial near-term crop weather,
 and technical weakness tied to futures penetrating underlying support weighed
 on prices initially, traders said.
 
   The near-term damage is done, and with futures oversold the market was
 overdue for a minor technical correction, said a CBOT floor analyst. After
 dropping nearly $2.00 a bushel in the past week, Tuesday's minor gains were
 seen as consolidative with the theme of market still bearish, he added.
 
   Soybeans managed to bounce despite weakness in crude oil, evidence that
 speculative selling was exhausted, traders said. The market withstood the
 selling pressure seen in corn amid favorable Midwest weather, with traders
 saying corn is more sensitive to current weather due to pollination, while
 soybeans' critical weather month is August, traders added.
 
   The DTN Meteorlogix weather forecast said scattered showers and thunderstorms
 will develop in the western Midwest on Wednesday and Thursday, continuing on
 Friday. Rainfall totals of .30-1.50 inches with locally heavier amounts are
 expected. Mostly dry conditions are on tap for Saturday through Monday.
 Temperatures will be near to below normal but near to above normal on Friday.
 
   In the eastern Midwest, mostly dry conditions are expected Wednesday and
 Thursday. Episodes of scattered showers and thunderstorms are forecast for
 Friday and Saturday, with rainfall totals of .30-1.50 inches. Dry conditions
 are on tap for Sunday, with dry conditions or just a few light showers Monday,
 Meteorlogix forecasts.
 
   In pit trades, buyers and sellers were scattered among various commission
 houses, with speculative fund buying estimated at 2,000 lots.
 
 SOY PRODUCTS
 
 
   Soy product futures ended higher, recovering from early price weakness.
 
   The markets kept pace with the bounce in soybeans. The entire soy complex was
 oversold, and once the selling was finally digested, futures grabbed some
 support and rose on speculative short covering and bargain hunting, analysts
 said.
 
   December oil share ended at 45.64% and the November/December crush ended at
 73 1/4 cents.
 
   In soymeal trades, buyers and sellers were scattered among various
 commission, with speculative fund buying estimated at 1,000 lots.
 
   In soyoil trades, buyers and sellers were scattered among various commission
 houses, with speculative fund selling estimated at 1,000 lots.