Bean Oil is Trending Lower, and Hedge Funds are Vulnerable

Bean oil prices are trading in the middle of a 6-month upward sloping channel, and trading heavy after US export sales missed expectations. The USDA said U.S. exporters generated revenue on 903,600 metric tons of soybeans during the week ended November 16, below forecasts. Bean oil sales also missed estimates.  Hedged fund traders added to both long and short futures and options positions according to…