Bean Oil Consolidates Following Soft Chinese PMI Results

Bean oil prices edged lower on Monday and continue to trade in a relatively tight range.  Prices are capped by the 20-day moving average at 28.41, and supported near an upward sloping trend line at 27.70. Softer than expected manufacturing data released in China over the weekend capped prices.

China’s manufacturing data for October was subdued, which will add to worries…