Bean Oil Rebounds but the Upside is Capped

Bean oil prices are rebounding on Monday, following a slump on Friday that saw the U.S. produce 208K jobs in the month of July, which was more than expected. The numbers provided the impetus to drive up U.S. yields which inturn buoy the dollar which weighed on commodity prices. Bean oil and the entire U.S. bean complex are priced in dollars, and a stronger greenback, makes purchasing bean oil in foreign countries more…