CHICAGO (Dow Jones)--Soybean futures at the Chicago Board of Trade ended
 modestly higher Monday but well off earlier highs, trimming advances down the
 stretch on wetter midday weather outlooks for the Midwest, traders said. 
  
   November soybeans ended 1 3/4 cents higher at $6.70 3/4, December soymeal
 settled $0.80 higher at $209.60 a short ton, and December soyoil ended 19
 points lower at 23.73 cent a pound. 
  
   The market shaved off some of its early gains as private forecasters
 increased the rain potential for eastern Midwest crop areas in noon weather
 outlooks, taking some of edge off the market, analysts said. 
  
   Hot and dry forecasts with only the northern Midwest expected to be the
 beneficiary of any rains of significance this week sparked early strength in
 the market, with light technical buying from ideas Friday's declines were
 overdone adding the firm tone. 
  
   However, the absence of a strong speculative buying presence coupled with
 scale down commercial selling tempered the early tone, with noon forecasts
 adding pressure to trim the advances, traders added. 
  
   Overall activity was fairly quiet, with trade positioning ahead of Friday's
 crop report and weather uncertainty failing to generate any aggressive action
 on either side of the market. U.S. Department of Agriculture is scheduled to
 release its crop production and supply and demand reports Friday 7:30 CDT (1230
 GMT). 
  
   This afternoon, USDA is scheduled to release its weekly crop progress reports
 at 3:00 p.m. CDT (2000 GMT). Analysts anticipate crops rated in
 good-to-excellent condition to decline by one to three percentage points. 
  
   In pit trades, Refco bought 1,000 November and Cargill Investor Services,
 Citigroup and RJ O'Brien were each buyers of 200 November. Cargill sold 1,000
 November, Bunge Chicago and Citigroup each sold 300 November, ABN Amro,
 Goldenberg Hehmeyer and O'Connor each sold 200 November, Refco sold 500
 November. 
  
   South American soybean futures ended higher across the board. The September
 futures settled 10 cents higher at $6.97. 
  
  
  
   SOY PRODUCTS 
  
  
  
   Soymeal futures ended higher, but down from early highs, keeping pace with
 the pullback in soybean prices. 
  
   Soyoil futures ended lower across the board, consolidating within Friday's
 wide trading range. The market encountered two-sided activity, with support
 from soybeans providing mild strength, while technical weakness and the absence
 of any fresh fundamental support undermining prices. The inability of the most
 active December future to hold support at 24.00 cents generated technical
 pressure to subsequently pin prices in negative territory, traders said. 
  
   December oil share ended at 36.15%, and the November/December crush finished
 at 51 1/2 cent. 
  
   In soymeal trades, Refco, ADM, Cargill and Goldenberg Hehemeyer were buyers.
 UBS Securities sold 1,200 December, Kottke sold 300 December, with Fimat,
 Cargill Investor Services and Cargill light sellers. 
  
   In soyoil trades, ADM Investor Services bought 300 September and 300
 December, Iowa Grain and Shatkin/Arbor each bought 200 December. ADM Investor
 Services sold 200 September, Bunge Chicago sold 200 September and 200 December,
 Cargill Investor Services and Refco each sold 300 December, and Calyon
 Financial, Man Financial and Prudential Financial each sold 200 December.