Meal Prices Edge Higher but Momentum Has Turned Negative

Soymeal prices edged higher early on Tuesday but continue to trade on the defensive and the outlook in 2016 continues to favor further declines. Soybean meal prices are likely to remain flat or even decline slightly if, as expected, there is a strong harvest in South America and farmers in the U.S. devote more acreage to soybeans next year. Robust soybean acreage in 2016 may keep…