Hedge Funds Exit Long Bean Oil Positions Generating Headwinds for Prices

Bean oil prices edged slightly higher on Monday morning and appear to be trading in a relatively tight range after declining more than 10% since hitting 2.5 year highs in early December of 2016.  Precipitation in parts of Argentina and Brazil have improved crop prospects in both countries, per weather forecasters, which has generated headwinds for soy bean which has spilled over into bean…