ROTTERDAM: Soymeal on the European meals and feeds market was mostly firmer on Friday, tracking stronger CBOT soymeal futures on the back of concerns that dry weather in the US Midwest could have a negative impact on yields.
"It is the same old song ahead of a harvest period, which makes the market volatile come rain or shine. Buyers on the European cash market were holding back, not really fancying being caught by the weather," one broker said.
South American soymeal was offered between unchanged and $4 a tonne up from Thursday following the trend in CBOT soymeal futures. Buyers remained sidelined and no deals were reported.
EU rapemeal was mostly offered between unchanged and 2 euros up from Thursday following keen speculative interest during the last couple of days. Firmer rapeseed futures also supported.
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