ROTTERDAM: Soymeal on the European meals and feeds market was firmer on Thursday on concerns over flooding in Southern US soybean growing areas and a weaker dollar, which supports demand for products priced in that currency.
South American soymeal was offered between $1 and $3 a tonne up, also following Wednesday's stronger close for CBOT soymeal futures. Buyers showed little interest and no business was seen.
"Prices for soymeal on the European cash market were up, but the concerns over possible crop loss in the US did not exert much buying interest as buyers believe there is still plenty of everything," one broker said.
EU rapemeal was quoted between unchanged and 3 euros a tonne down. Rapeseed futures came under pressure from technical selling and the weaker dollar, which weighs on euro-priced products.
Comments
Comments are closed for this article.