CHICAGO (Dow Jones)--Soybean futures on the Chicago Board of Trade ended
 higher Thursday but well off earlier highs as the market consolidated in choppy
 trade, analysts said. 
  
   November soybeans ended 3/4 cent higher at $5.64 1/4, December soymeal
 settled $1.20 higher at $167.30 a short ton, while December soyoil ended 12
 points lower at 24.04 cent a pound. Futures experienced a choppy tone during
 the session, unable to establish lasting direction, as upside and downside
 moves failed to generate follow-through momentum, said a CBOT commission house
 broker. 
  
   Futures drifted lower heading out of the starting blocks, pressured by
 bearishly construed private crop estimates and seasonal pressure related to the
 influx of fresh supplies from the fall harvest. However, as the session
 unfolded, futures reversed course, propelling higher on short covering amid
 ideas the bearish features of the market had been adequately factored into
 prices. 
  
   The inability of the most-active November contract to challenge recent lows
 in the face of big production forecasts provided strength to prices as the
 market is seemingly finding value at current levels, said John Kleist of Kleist
 Ag Consulting. 
  
   The rolling of November positions was featured attraction as well, with
 November/January spreads settling at a 12 1/4-cent carry. The spread was last
 quoted at 11 3/4 cents. 
  
   Decent weekly export sales with China, the principal buyer, added mild
 support, Nevertheless, the weight of large supplies and concerns over storage
 and transportation remained overhead pressures to limit upside potential,
 traders added. 
  
   In pit trades, ABN Amro bought 1,000 November, Bunge Chicago bought 500
 November, Calyon Financial bought 700 November, Refco bought 800 November, with
 Fimat a buyer of 300 November and 300 January. Commodity funds were estimated
 buyers of 3,500 contracts. 
  
   On the sell side, Bunge Chicago, Cargill and Citigroup each sold 500
 November. 
  
   South American soybean futures ended modestly higher. The November futures
 settled 3 1/2 cents higher at $6.36. 
  
  
    SOY PRODUCTS 
  
  
   Soymeal futures ended higher, managing to gain ground on soyoil amid the
 unwinding of soyoil/soymeal spreads. Technically based trade consolidation and
 a solid weekly export sales figure managed to lift prices as well, analysts
 said. 
  
   Soyoil futures stumbled lower in volatile two-sided trade. Weakness in the
 energy sector, ideas oil share percentage was a bit out of line and commercial
 selling weighed on prices in early action. As the session unfolded, futures
 bounced back, with the underlying premise of a growing biodiesel industry amid
 historically high energy prices managing to attract fund related buying. 
  
   This was consistent, until late position evening and the unwinding of
 soy-product spreads pulled prices back into negative territory down the
 stretch. 
  
   December oil share slipped 41.78%, and the November/December crush was at 68
 1/4 cents. 
  
   In soymeal trades, Calyon Financial and Man Financial each bought 400
 December, and Rand Financial bought 300 December. Cargill sold 500 December and
 Refco sold 900 December. 
  
   In soyoil trades, Iowa Grain bought 1,300 December, O'Connor bought 1,000
 December, and Bunge Chicago and Refco each bought 500 December. Bunge Chicago
 sold 1,200 December, Cargill sold 400 December, Refco sold 1,100 December, and
 Goldenberg Hehmeyer sold 500 December.