Bean Meal Consolidates as Hedge Funds Bet on Lower Prices

Bean meal prices are holding steady at lower levels, as trader’s await news on the impending harvest.  Prices are depresed by signs of a robust harvest, and a large carryover that is slowly dwindling. Export sales to China have been picking up as U.S. bean prices are attractive. Hedge fund traders added to short position in futures and options as bets continue to line up that the bean market will head…