Soyameal down on European feeds market

Soyameal on the European meals and feeds market fell on Thursday, tracking CBOT soyameal futures, which were down on follow-through technical selling. "The European cash market follows the trend in Chicago soyameal, where CBOT traders kept on buying soyaoil futures because of Opec's deal to cut production, and were again selling soyameal contracts," one broker said.
South American soyameal was mostly offered between $2 and $7 a tonne down from Wednesday, following the lower trend in Chicago soyameal futures. EU rapemeal was quoted between flat and two euros per tonne down, tracking weaker soyameal and pressured by a easier dollar, which weighs on euro-priced products.