Bean Meal Traders Await Thursday’s WASDE Report

Bean meal prices are grinding higher trading above support near the 10-day moving average at 314, ahead of Thursday’s WASDE report. The September USDA crop report showed stronger than expected yields and carry-over, but pervasive selling did not ensue which leaves the market poised for further upside. Hedge fund traders appear to be neutrally weighed which is reflected in the open interest of futures and…