By Andrew Johnson Jr
 
   Of DOW JONES NEWSWIRES
 
 
   CHICAGO (Dow Jones)--Soybean futures on the Chicago Board of Trade ended
 higher Tuesday, climbing on concerns that a lingering Argentina farmer's strike
 could further tighten U.S. 2008-09 stocks.
 
   CBOT May soybeans ended 11 1/2 cents higher at $9.67, and November soybeans
 settled 1 cent higher at $8.96 1/2.
 
   May soy meal settled $4.90 higher at $303.30 per short ton. May soyoil
 finished 17 points higher at 33.27 cents per pound. The potential for increased
 U.S. export demand due to uncertainty about exports from Argentina served as
 the catalyst to underpin prices, a CBOT floor analyst said.
 
   This is usually the time when world buyers shift their buying interest to
 South American origins, he added.
 
   Argentina is the world's third largest producer of soybeans, and the global
 leader in meal and oil exports.
 
   A quiet news front allowed for nearby contracts to quickly shake off early
 profit-taking pressure, as supply concerns took center stage in the absence of
 a definitive outside market influence.
 
   The stock market hovered over the course of the day and crude oil posted only
 modest declines, traders said.
 
   Meanwhile, the soybean market increased its inverse, as outlooks for a
 sizable jump in 2009 U.S. soybean acreage coupled with old crop demand
 potential, helping the new crop November future lose ground to nearby
 contracts.
 
   The traditional old crop/new crop - July/November - spread widened out to a
 67 1/4-cent inverse Tuesday, up from Monday's 56 1/2-cent inverse.
 
   Looking ahead, with the Argentina strike playing out, traders will keep a
 close eye on outside financial markets for aid in determining near term
 direction, a CBOT floor broker said.
 
   In pit trades, speculative fund buying was estimated at 3,000 lots.
 
 
   SOY PRODUCTS
 
 
   Soy product futures ended higher, supported by demand prospects on
 assumptions that a prolonged strike by Argentina farmers could aid the U.S.
 export picture, analysts said. Soymeal managed to gain product share at the
 expense of soyoil, supported by the realignment of product spreads.
 
   Soyoil was pressured by spillover weakness from crude oil, but still managed
 to end higher despite a session filled with two-sided action, traders said.
 
   In pit trades, speculative fund buying was estimated at 1,000 lots in
 soymeal.
 
   May oil share ended at 35.42%. The May crush ended at 66 1/4 cents.