Bean Oil Prices Edge Higher, Following Hedge Fund Long Liquidation

Soybean oil prices moved higher extending gains after government data late Friday showed heavier-than-expected recent selling in agricultural markets. The recent run up in the dollar has also generated headwinds and Monday’s softening price action in the greenback helped grains gain a foothold. Concerns about dry weather in parts of Brazil were the catalyst for higher bean prices on Monday. Hedge fund…