Bean Oil Slips Lower as Oil Share Surges Higher

Soybean oil prices moved lower on Monday in early trade, but the move down was subdued relative to the declines soybeans and soybean meal.  The oil share surged higher driven by declines in meal, breaking out and testing target resistance. The most recent commitment of traders report shows that hedge funds remain short the oil share which could lead to a substantial short-squeeze. The lack of a Chinese/US…