Bean Oil Prices Edge higher, Lower Dollar Continues to Buoy Prices

Bean oil prices inched up on Monday/Tuesday and continue to form a bull flag pattern. The recent change in the Federal Reserve’s forecast for interest rate changes, has led to a decline in the dollar and a subsequent rally in commodity prices. Since most commodity are priced in U.S. dollars, a lower greenback generally equates to higher commodity values as they become less expensive in other…