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…