Bean Oil Slumps As Focus Remains on Supply

Soybean oil prices declined Monday dropping to support levels, despite a stronger than expected Chinese GDP report and robust export sales reported last week.  Traders continued to focus on the large soybean yields which is weighing on prices.

China’s Q3 GDP grew 6.9% year over year following the 7.0% year over year pace in Q2. The growth pace in Q3 was slightly firmer than expected, as…