Bean Oil Prices Slide as the Weather Changes Market Sentiment

Bean oil prices began the week lower after more rain than expected fell in the Midwest this weekend. Bean oil prices dropped more than 1% initially as the prospect of cooler weather going into August eased concerns about plant stress. Crop progress condition ratings also slipped, which could help buoy prices.  Meanwhile, CFTC data released Friday showed managed funds increased their bets that soybean…