Bean Oil Faces Headwinds in 2017

Better growing conditions in South American last week led to a decline in bean oil prices which has seen prices drop near 8% in December.  Prices appear to have held support near an upward sloping trend line which connects the lows in August to the lows in November and comes in near 34.60 cents per pound.  While rising oil prices should help bean oil gain traction, the stronger dollar will remain a headwind and is unlikely…