Bean Oil Consolidates but Hedge Funds are Offsides

Bean oil prices are rebounded on Monday, with traders looking ahead to the USDA’s supply-and-demand report on Tuesday. The remnants of Hurricane Irma, which made landfall in Florida on Sunday, could travel into the northern Delta and bring minor benefits to the soybean crop there which has been mostly dry. Hedge fund traders added to long positions in futures and options, providing the backdrop for a long…