European feeds-Soymeal falls further on bumper South American crop

ROTTERDAM: Soymeal on the European meals and feeds market continued to weaken on Wednesday on the outlook for a bumper South American soybean crop.

"As long as the South American harvest provides pressure demand remains low as buyers keep holding back until they see a solid bottom," one broker said.

South American soymeal was offered between unchanged and $3 a tonne down from Tuesday, tracking lower Chicago soymeal futures. Buyers showed little interest and no deals were reported.

EU rapemeal was quoted between flat and four euros per tonne higher, following a technical rebound in rapeseed futures and support from a strong dollar, which underpins products priced in euros. Bids were scarce and no trades were reported.