Bean Meal Consolidates; Seasonal Point to Rally

Bean meal prices are forming a wedge pattern, as traders focus on South American crops now that the U.S. conventional harvest is nearly complete.  Yields were robust, which means there should be plenty of bean meal supply to offset solid demand. The seasonality of soybeans shows that prices generally move higher in the month of December, which could give meal a lift as we head into the end of 2017.  Hedge fund…