Bean Meal Rallies as Oil Share Unwinds

Soybean meal futures continue to find support as the unwind of oil share positions continues.  Meal and oil are continuing to move in opposite direction as hedge funds stop out of long oil share positions. Bean prices have been buoyed on intensified concerns about dry weather in Argentina, which could result in a smaller crop at harvest. Less rain fell than expected in the country over the weekend, while nearly half of…