Bean Meal Tests Resistance but Stronger Dollar Remains a Headwind

Bean meal prices surged higher on Monday but appear to have hit resistance in the wake of a stronger dollar. A robust move in oil prices, buoyed most of the commodity sector ahead of the November 30 OPEC meeting in Vienna. Solid sales buoyed soybean prices as the USDA reported soybean net sales of 1.4 MMT for 2016/17, a 51% over the previous week. Hedge fund traders added to short position in futures…