Bean Meal Prices Test Support

Soybean meal prices moved lower on Tuesday making a new 4-day low and testing trend line support.  Softer than expected data released in the U.S. and China have generated headwinds for bean meal prices.  Weather in the Mid-west is expected to be cooler than normal with enough rain to keep the harvest intact. Hedge fund traders lined up on the short side, according to the latest industry report.

…