By Andrew Johnson Jr.
    Of DOW JONES NEWSWIRES
 
 
   CHICAGO (Dow Jones)--Soybean futures on the Chicago Board of Trade ended
 higher Friday, underpinned by end-of-the-month short covering and uncertainty
 surrounding Argentina weather conditions.
 
   CBOT March soybeans finished 9 1/2 cents higher at $9.80. March soy meal
 settled $2.30 higher at $311.00 per short ton. March soyoil finished 36 points
 higher at 32.73 cents per pound.
 
   The advances were tied to month-end short-covering, allowing futures to
 experience a technical bounce after prices dropped 70 cents from Monday's
 highs, said Brian Hoops, president of Midwest Market Solutions in Yankton, S.D.
 
   The market had adequately factored in recent rains in Argentina as well as
 forecasts for scattered showers next week, opening the door for buyers to step
 in, Hoops said.
 
   Underlying support was also generated from analysts' reports indicating that
 this week's precipitation amounts and forecasted rains are insufficient to
 alleviate the overall stress caused to drought-damaged crops.
 
   The market effectively consolidated within its recent range, with traders
 unwilling to take on added risk heading into the weekend amid private forecasts
 contrasting over rain coverage and amounts for parts of Argentina next week.
 
   For the month, the most-active March future closed out January unchanged from
 where it started the month.
 
   The DTN Meteorlogix Weather forecast for central Argentina crop areas calls
 for a further chance for at least some scattered thunderstorms during the next
 five days. The next chance for some significant shower and thunderstorm
 activity appears to be Monday and Tuesday of next week. Rainfall this week in
 some major corn and soybean areas, along with cooler temperatures, have eased
 crop stress. However, there remains uncertainty regarding the weather patterns
 during the critical soybean pod-filling month of February, with forecast models
 giving mixed signals, Meteorlogix said.
 
   In pit trades, speculative fund buying was estimated at 3,000 lots.
 
    Soy Products
 
 
   Soy product futures ended higher, consolidating in unison with soybeans.
 Soymeal futures bounced on a combination of spillover support from soybeans,
 preweekend positioning amid volatile Argentine weather conditions and technical
 buying, analysts said.
 
   Soyoil futures bounced in unison with the rest of the soy complex, garnering
 additional support from strength in crude oil futures amid the market's
 continued sensitivity to energy markets in relation to biodiesel, traders said.
 
   March oil share ended at 34.48% and the March crush ended at 64 1/2 cents.
 
   In pit trades, speculative fund buying was estimated at 1,000 lots each in
 soyoil and soymeal.