ROTTERDAM: Asking prices for soymeal on the European meals and feeds market continued firmer on Thursday on hopes that promising Chinese economic data could lead to improved demand and concerns over the pace of soybean planting in South America, which boosted technical buying in Chicago.
* "Chicago firmed on hopes for more Chinese demand and the European cash markets followed. Trade was thin because of All Saints public holiday in most of Europe and buyers that were present were concerned that hurricane Sandy could slow down the growth of the US economy and eventually weigh on prices," one broker said.
* South American soymeal was offered between $3 and $8 a tonne up from Wednesday in sympathy with higher CBOT soymeal futures. Buyers stayed sidelined at the current levels and no deals were reported.
* EU rapemeal was quoted between four and five euros per tonne up from Wednesday in very thin trade, mostly following the trend in soymeal, but with a lack of participation and both sides of the market showing little interest in making a market.
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