ROTTERDAM: Soymeal on the European meals and feeds market was offered in a tight range on Thursday, supported by bargain buying in CBOT soymeal futures the day before, while the outlook for a record-large South American soybean crop and bearish US soybean planting intentions weighed.
"The market did not move much and there is still too little bullish news to lure buyers back onto the marketplace," one broker said.
South American soymeal was mostly offered between $2 a tonne up and $2 down. Buyers showed little interest and no business was reported.
EU rapemeal was quoted between one and two euros per tonne up, supported by a stronger dollar, which underpins euro-priced products and because of concerns over tight supplies towards the end of the crop season. Buyers were not willing to pay higher prices and no trades were seen.
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