By Andrew Johnson Jr.
   Of DOW JONES NEWSWIRES


  CHICAGO (Dow Jones)--Soybean futures on the Chicago Board of Trade
backpedaled lower Tuesday, stumbling on improved weather prospects for
Argentina and broad-based commodity selling.

  CBOT March soybeans finished 33 cents lower at $9.76. March soy meal settled
$7.70 lower at $308.60 per short ton. March soyoil finished 100 points lower at
32.77 cents per pound. Weather forecasts pointing to improved rain potential
for Argentina crops served as a catalyst to pressure prices, analysts said.

  Selling across a wide range of commodities tied to economic woes provided
additional weakness to aid the defensive tone, said Jack Scoville, analyst with
Price Futures Group in Chicago.

  Contrasting weather models had traders leery of long positions amid fears a
good soaking rain could improve Argentina crops heading into their critical pod
filling stage of development, analysts said.

  Profit taking on prior gains was featured with technically inspired selling
adding to the losses. The ability of active contracts to penetrate the
psychological $10.00 level, 10-day, 20-day and 100-day moving averages
triggered sell stop orders, analysts said.

  The potential for a seasonal February price break occurring soon is keeping
buyers cautious. In addition, the market is starting to come to grips with
ideas setbacks in Argentine production could be offset by that country's large
carryover stocks.

  However, Argentine President Cristina Fernandez declared Monday that the
country was suffering from an "agricultural emergency" brought on by a
devastating drought affecting farms and ranches around the nation was seen
limiting losses, analysts said.

  GFS and European weather models both indicate wetter Argentine weather in the
six- to 10-day period, but the wetter scenarios are achieved in much different
ways, Cropcast Weather Services said Tuesday in a morning outlook.

  Cropcast opts for the GFS solution, with rainfall scaled back in eastern
Argentina as a ridge may suppress much of this activity. This could still allow
up to a third of corn and soybeans to hold onto dryness concerns through the
end of the 10-day period, with Cropcast's forecast delaying a more generalized
rain event until the middle of the 11- to 15-day outlook, Cropcast said.

   SOY PRODUCTS


  Soy product futures tumbled in unison with soybeans, succumbing to the price
pressure associated with Argentine weather. Weakness across various commodities
added to the losses, with profit-taking on prior gains and ideas the market is
heading toward its February break attracting sellers.

  March oil share ended at 34.63% and the March crush ended at 63 1/2 cents.