Bean Meal Edges Toward Support as Hedge Fund Exit Long Bets

Soybean meal prices slipped on Tuesday despite signs of fresh demand for the crop from China. The U.S. Department of Agriculture said on Monday that private exporters had booked sales of 120,000 metric tons of soybeans for delivery to China during the 2015-16 crop year. Importers also shifted a sale of 233,832 metric tons of soybeans from unknown destinations to China during the current crop year. Hedge fund…