Bean Oil Consolidates as the Dollar Gains Traction

Bean oil prices moved lower on Monday and were down last week as prices consolidated after breaking out on a weekly basis.  Prices appear to be facing headwinds as the dollar gets stronger an U.S. yields move higher.  Most commodities are priced in dollars and therefore the strong gains in the greenback seen since the November elections has made bean oil more expensive in other currencies.  Hedge fund…