CHICAGO (Dow Jones)--Soybean futures at the Chicago Board of Trade ended
 lower Wednesday, falling under the weight of speculative and local selling amid
 the absence of fresh supportive inputs to underpin prices amid bearish
 finishing weather for Midwest soybean crops, traders said. 
  
   November soybeans ended 7 3/4 cents lower at $6.12 3/4, December soymeal
 settled $2.30 lower at $190.50 a short ton, while December soyoil ended 5
 points lower at 22.76 cents a pound. 
  
   A dearth of fresh fundamental news, coupled with speculative selling, kept
 futures wallowing in a lack of inspiration, as the market attempts to get a
 handle on 2005 production as well as a demand profile, said Dan Basse,
 president of AgResource in Chicago. 
  
   Speculative selling easily pulled futures to session lows down the stretch,
 with traders unwilling to challenge downside moves amid perceptions that
 soybean production potential could be enhanced by good finishing rains across
 the Midwest, analysts said. 
  
   The Meteorlogix weather forecast said a slow-moving weather system, which has
 been a persistent thunderstorm producer, is now in the southeastern Plains and
 promises to be a rainmaker for the southern through central areas of the
 Midwest during the next three to five days. 
  
   The beneficial rains fed the bearish spirit of the market, with reports of
 better-than-anticipated soybean crop conditions from crop scouts on the John
 Deere/Pro Farmer Midwest crop tour raising the stakes in the debate over 2005
 production and yield potential. 
  
   Meanwhile, the absence of fresh fundamental inputs have drawn more attention
 to technical factors with declines accelerating once the most active November
 contract dove through its 200-day moving average of $6.17 1/4 down the stretch,
 traders added. 
  
   On tap for Thursday, the U.S. Census Bureau will release its monthly soybean
 crush report for July at 7 a.m. CDT. Analysts surveyed Dow Jones anticipates
 the crush at 140.5 million bushels, soymeal stocks at 302,400 short tons and
 soyoil stocks at 1.843 billion pounds. 
  
   U.S. Department of Agriculture is scheduled to release its weekly export
 sales report 7:30 a.m. CDT Thursday, with analysts looking for soybean
 commitments in a range of 275,000 to 550,000 metric tons. 
  
   In pit trades, Cargill Investor Services and Rand Financial each bought 300
 November, and ADM Investor Services and Citigroup were each light buyers of
 November. 
  
   On the sell side, Citigroup and Refco each sold 300 November, Cargill
 Investor Services sold 500 November and Bunge Chicago sold 200 November. 
  
   Commodity fund selling was estimated at 1,500 contracts. 
  
   South American soybean futures ended lower. The September futures settled 4
 1/2 cents lower at $6.42 1/2. 
  
  
    Soy Products 
  
  
   Soymeal futures ended to the downside, stumbling lower in unison with
 soybeans on speculative selling amid the absence of fresh fundamental drivers,
 traders said. 
  
   Soyoil futures ended slightly lower, managing to regain some oil share amid
 heavier losses in soymeal. 
  
   December oil share ended at 37.40%, and the November/December crush was at 53
 1/2 cents. 
  
   In soymeal trades, Refco bought 200 May, Cargill bought 100 September, and
 Iowa Grain and Man Financial each bought 100 September. Tenco sold 300
 December, ADM Investor Services, Cargill and Fimat were light sellers, with
 Cargill Investor Services selling 300 September. 
  
   In soyoil trades, Fimat bought 200 October, while Bunge Chicago, Calyon
 Financial, Iowa Grain and Refco were light early buyers. ADM Investor Services,
 Cargill, Rand Financial and Refco were each light sellers.