Soybean Oil Rebounds on Short-Covering as Momentum Turns Positive

Soybean oil prices have rebounded nearly a cent per pound after hitting a 7-month low last week near 32 cents per pound. Weak demand globally, and a soft dollar have been conspiring to undermine prices. Hegde fund traders are lining up on the short side, adding to position that bet that prices will move lower according to the latest commitment of trader’s report.  Bean oil exports were lower in…