ROTTERDAM: Soymeal on the European meals and feeds market rose on Monday after the passing of an austerity bill in Greece raised hopes for improved demand and weakened the dollar, market sources said.
"The passing of the bill, talk of smaller South American crops and a stronger euro versus the dollar lifted prices, but buyers showed little faith in the market and were not very willing to buy at the current levels," one broker said.
South American soymeal was offered between $5 and $6 a tonne up from Friday on a weaker dollar, which supports prices of dollar-denominated commodities, and following gains in CBOT soymeal futures . February delivery EU high protein soymeal traded at $404 a tonne fob Rotterdam.
Most other products were quoted flat to a little firmer following the trend in soymeal and because of firmer rapeseed futures. Bids were scarce and no deals were reported.
Comments
Comments are closed for this article.