Bean Oil Rebounds as Hedge Funds Head for the Exits

Bean oil prices rebounded late in the week following soy beans higher despite a report that showed that hedge fund were exiting long positions in the benchmark vegetable oil.  Investors have been bullish soybeans based on speculation that adverse weather in South America would curb production. Excessive rainfall in Argentina has cut output in the country by about 7.4%.

While managed money added to long…