ROTTERDAM: Soymeal on the European meals and feeds market was mostly firmer on Monday following a stronger tone on the overnight e-cbot in a mild correction of last week's falls and due to talk of renewed Chinese demand for US soybeans, market sources said.
"Asking prices recovered a bit on a technical correction but the rise was limited by a strong dollar and general slack demand on continued concerns about the global economy and the euro debt crisis," one broker said.
South American soymeal was offered between $1 a tonne down and $3 up from Friday, mostly following the trend in CBOT soymeal futures. Argentine high protein soymeal changed hands at $369 a tonne cif Rotterdam for afloat material and December shipment fetched $367 a tonne cif, $4 under initial asking prices.
Most other products were quoted between flat and slightly up from Friday, supported by a stronger dollar, which supports euro-priced products and steadier rapeseed futures. Bids were scarce and no business was seen.
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