Bean Oil Drops as Momentum Turns Negative

The decline in soy bean oil prices on Monday comes following Friday’s weak close which pushed prices slightly below support levels.  During the week, it appears that hedge fund traders continue to add to long position in futures and options tipping the balance of bets toward future increases in prices at nearly 4 to1.  Choppy markets will continue to perpetuate as above normal precipitation cover the mid-west planting region.

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