SOYBEAN OIL FUTURES BOUNCE BACK FROM LOSSES ON FRIDAY ON TECHNICALLY-DRIVEN BUYING AND OIL/MEAL SPREADING

Concerns about crop losses in Brazil and an announcement of a daily sale by the United States Department of Agriculture (USDA) pushed soybean futures marginally higher on Monday. For the second consecutive day, the continuous nearby contract tried to rally early during normal trading hours but late selling pared gains and left the contract…