Soybean Oil Tests Support Following Record Crush Data

Soybean oil prices dropped last week down 0.57% and hitting  a fresh 10-month low. Hedge funds continue to add to short position in futures and options offsetting their positions with bean meal. The oil share bounced slightly ahead of support levels, but are only 7% above a 10-year low in the oil share. The soybean crush hit a record high according to the National Oilseed Processing Association, higher…