European feeds-Soymeal eases on bumper South American crop outlook

ROTTERDAM: Soymeal on the European meals and feeds market was offered easier on Tuesday on expectations for a bumper South American soybean harvest and because of a strong dollar.

"Prices did not come down by much today but bearish sentiments prevail. Buyers believe soymeal could come down more because of harvest pressure," one broker said. South American soymeal was offered between unchanged and $2 a tonne down, tracking an easier CBOT soymeal futures close. Buyers showed little interest and no deals were reported.

EU rapemeal followed the trend in soymeal with offerings between flat and one euro per tonne down. Losses were limited by a strong dollar, which underpins euro-priced products. Bids were scarce and no business was seen.