PARIS: Prices on the European animal feed meal market continued to fall on Wednesday, pulled down by tumbling soymeal futures in Chicago which hit a two-month low on Wednesday on expectations of ample soybean supplies.
"If one product falls, the other ones follow because they enter in the same compound feed calculation," one broker said. August Brazilian high protein soymeal for August delivery was quoted down $15 at $459 a tonne CIF Rotterdam while Argentine high protein soymeal was offered for sale down $9 a tonne at $433 CIF Rotterdam.
EU-produced high protein soymeal for July delivery was down $8 at $434 a tonne and EU rapeseed meal for July delivery was offered down 1 euro at 204 euros ($224) a tonne FOB Lower Rhine. "Rapemeal followed soya. It is a little bit supported by the (higher) dollar but not that much apparently," a broker said.
No major trading was reported in Europe.
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