Bean Oil Slides Toward Support as Momentum Turns Negative
Bean oil prices edged lower on Monday and are poised to test target resistance near the December lows at 31.10. Prices continue to face headwinds as a stronger dollar erodes commodity values and strong soybean yields make owning soybeans a difficult endeavor.
On Friday, weekly old crop export sales reported plunged to just 500,000 bushels, as deals previously allocated to unknown destinations…
Membership is required to view the rest of this post.
Click here to learn more and sign up for a free 7-day trial!