ROTTERDAM: Soymeal on the European meals and feeds market eased on Tuesday with CBOT soymeal futures on expectations for smaller demand from China due to a interest rate increase in a bid to curb inflation, market sources said.
"Business remains thin despite weaker asking prices coupled to a lower dollar. Buyers remain sidelined expecting prices to ease further under South American harvest pressure," one broker said.
South American soymeal were offered between $5 and $7 a tonne down from Monday following easier CBOT soymeal futures. May/Sept Argentine high protein changed hands at $219 a tonne cif Rotterdam.
Most other products were offered flat to slightly down from Monday following the trend in soymeal and a weaker dollar which weighed on euro-priced products and easier rapeseed futures. May/July EU rapemeal changed hands at 185 euros per tonne fob lower Rhine and Aug/Oct traded at 176 euros fob.
Comments
Comments are closed for this article.