Bean Oil Rallies Despite Weak Chinese Data

Soybean oil futures continued to add to Friday’s rally a traders responded to forecasts calling for recent dry weather to extend into at least mid-month. This comes despite weaker than expected data released over the weekend in China that showed that exports and imports in the worlds second largest economy declined.

According to Chinese customs, exports plunged 8.9% in July, worse than expectations, which were for a…