Bean Oil Consolidates as Hedge Funds Exit Long Positions

Soybean oil prices edged Monday morning after rebounding on Friday following a stronger than expected jobs report which lifted most commodities. The dollar benefited from the robust jobs data which capped the upside for bean oil prices. The oil share continues to move in favor of soybean meal, as hedge funds exit their positions in this spread, which is driving bean oil lower and bean meal higher.

The…