Bean Meal Consolidates as Hedge Funds Remain Short Meal Relative to Beans

Bean meal prices edged lower on Tuesday moving through trend line support created by an upward sloping trend line connecting the lows in March.  Prices of bean have been the driver of the complex over the past week, following the lower than expected number of acres that are expected to be planted according to the U.S. Department of Agriculture. Hedge fund traders reduced short position in…