Bean Meal Prices Test Crucial Levels as Hedge Funds Add to Short Positions

Soybean meal prices are testing support levels, as the global commodity slump continues. With the exception of gold prices, demand for intermediate goods into China have declined, reducing support for bean meal.  Soy bean planting intensions are lagging in Wisconsin and Illinois, but are in the low 90’s in Iowa, Nebraska, South Dakota and Minnesota. Hedge funds added to short position in…