Bean Oil Prices Hold above Support as Prices Remand Range bound

Bean oil prices hovered near support levels trading just 1.5 cents per pound above the 2015 lows.  Heavy rains followed by above normal temperatures have buoyed prices as the possibility of soft yields remains in the cards.  The USDA predicts soybeans will be harvested on 84.4 million acres later this year, which is the largest ever. But despite the increase in acreage, last…