Bean Meal Consolidates but Hedge Funds are Offsides

Bean meal prices moved lower to start the week ahead of the USDA’s production data which is expected to be released in the afternoon on Tuesday. For, beans the average estimate for total production comes in at 4.328 billion derived from a yield of 48.8 bushels per acre. 2016/17 ending stock are estimated to be 365 million with 2017/18 then expected to reach 444 million. Hedge fund traders barely changed positions in…