Bean Meal Reverses as Squeeze Subsides

Bean meal prices continued to move lower early on Tuesday, after surging higher on Friday.  Hedge fund traders still are short according to the most recent commitment of trader’s report, as the squeeze was likely the impetus for prices moving higher. The USDA showed a small increase in soybean quality to 60% good or excellent in a Monday report, at a time of year where crop ratings are typically steady to lower. The agency…