Soybean Oil Tumbles Through Support and Poised to Test Lower Levels

Soybean oil prices tumbled at the end of last week, and continue to trade under pressure. High stock levels, in conjunction with expectations of a strong harvest are weighing on prices. Trade tariffs are hindering soybean sales which are also generating headwinds for soybean oil. The oil share is holding steady, as meal continues to slide as well. Hedge funds reduced their short-positions in futures…