ROTTERDAM: Soymeal prices on the European meals and feeds market eased further on Wednesday following CBOT soymeal futures, which eased substantially on the back of a strong dollar and concerns about the global economy, market sources said.
"CBOT soymeal fell again on worries over the global economy and the euro debt zone and poor Chinese data and buyers on the European cash market were mostly holding back, waiting for the market to bottom out," one broker said.
South American soymeal was offered between unchanged and $3 a tonne down from Tuesday, following CBOT soymeal futures and a strong dollar, which weighs dollar-priced products. Afloat Brazilian soymeal pellets changed hands at $346 a tonne cif Rotterdam.
Most other products were quoted flat to a little down following soymeal and mostly lower rapeseed futures. Bids were scarce and no deals were reported.
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