Bean Oil Moves Higher, as Import Demand in China Remains Robust

Soybean oil prices are forming a bottom, and hedge fund are covering their shorts, ahead of a move higher.  Chinese demand for beans continues to remain robust helping prices gain a foothold.  While supply in the United States remains solid, and the harvest in South American is expected to be very strong, prices have room to run in the short term.

Demand for beans overseas is putting…