ROTTERDAM: Soymeal on the European meals and feeds market eased on Monday on a strong dollar and follow-through selling pressure after last week's bearish USDA data and rain in Argentina, market sources said.
South American soymeal was offered between $2 and $5 a tonne down, following Friday's Chicago soymeal futures close and as a strong dollar weighed on dollar-priced products.
Bids were scarce and no deals were done, also due to the absence of a direction from Chicago, which was closed for the Martin Luther King Jr holiday.
Most other products were quoted flat to a little easier compared with Friday following the trend in soymeal, but losses were limited by steadier rapeseed futures and because of the stronger dollar, which supports euro-priced products.
No deals were reported as buyers were holding back in the easing market, waiting for a bottom.
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