Bean Oil Prices Move Higher as Hedge Funds Get Squeezed 

Bean oil prices tested trend line resistance following the breakdown in prices seen early last week. Speculation had been building that the USDA was likely to lower the US soybean yield on account of all the excessive moisture in the mid-west. However, the USDA in the July report, left the 2015/16 US soybean yield unchanged versus a month ago at 46 bushels per acre.

Since the USDA’s June 7th Weekly…