Bean Meal Breaks Out as Dollar Slides

Soymeal prices surged on Tuesday following a robust rally on Monday that saw it break out above trend line resistance.  A weaker dollar appears to be the catalyst as traders foreshadow a better backdrop to bean meal exports as the greenback continues to decline.  Hedge fund traders continue to add to long positions in bean meal according to the latest commitment of trader’s report released for the date ending April 26,…