Bean Meal Takes a Respite while Still in a Down Trend

Bean meal prices rebounded slightly on Tuesday and is higher for the second straight trading session as prices attempt to find a bottom. Supplies continue to weigh on prices keeping bean meal below resistance near the 20-day moving average at 264.  Softer than expected Chinese economic data also continues to weigh on exports from the U.S. to China, which is weighing on prices.

China’s manufacturing survey showed…