Bean Meal Bear Flag Pattern Portends Lower Prices

Bean meal prices are consolidating at lower levels. Soybean planting is lagging last year’s levels, according to government data, with rain thought to be delaying fieldwork. The USDA says 3% of this year’s bean crop had been planted as of April 9, just behind last year’s pace of 4% and less than analysts expected. But the USDA confirms planting in some southern states was ahead of schedule, with 59% of the Texas bean…