Bean Meal Consolidates Gains Ahead of Crop Report

Bean meal prices consolidated their upward surge on Monday and Tuesday ahead of this week’s crop report. The upward surge in price action coincided with strong demand from hedge fund traders who added to long position in futures and options. NOAA now forecasts above normal rain in the upper mid-west for the next 8-14 days putting upward pressure on the soy bean complex.

On Tuesday the…