Bean Meal Retraces on Stronger U.S. Dollar

Bean meal prices retraced some of Monday’s gains as prices are testing resistance near a downward sloping trend line that comes in near 323. Prices have been trading in a relatively tight range, as robust soybean yields have been offset by strong demand for soybean oil.  Support on bean meal prices are seen near the 10-day moving average near 316.9.  Prices continue to face headwinds as a stronger U.S. dollar makes…