Tumbling Price Action Pushes Hedge Funds Out of Long Futures Positions
Bean oil prices tumbled last week, slicing through support levels and printing a 6-year low. Estimates of soybean exports continue to rise. Although USDA projects U.S. soybean exports of 1.77 billion bushels for the 2014/15 marketing year, some think that figure could be even higher.
Hedge fund traders seem to have been off sides judging by the liquidation seen within the futures…
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