Saturday, 22 September 2012 03:16
ROTTERDAM: Soymeal on the European meals and feeds market fell further on Friday on ongoing technical selling because of talk of increasing world oilseed stocks and worries over the gloomy outlook of the global economy and US harvest pressure.
* "The cash market continued to ease with Chicago on the same reasons as most of the week and buyers kept cautious, holding back, hoping for levels to ease further in the near future," one broker said.
* South American soymeal was offered between $5 and $13 a tonne down from Thursday following CBOT soymeal futures. Bids were scarce and no deals were reported.
* Most other products were offered two to four euros per tonne down from Thursday in sympathy with soymeal and weaker rapeseed futures. Buyers showed little interest and no business was seen.
Copyright Reuters, 2012 ...