ROTTERDAM: Soymeal on the European meals and feeds market was offered in a tight range on Thursday with forecasts for beneficial crop weather in the US Midwest offset by strong US export demand, which supported CBOT soycomplex futures.
"The weather and an outlook for another bumper crop keeps dominating the cash market, but bearish sentiment seems to be slowly running out of steam," one broker said.
South American soymeal was offered between $2 per tonne up and $2 down from Wednesday. Buyers continued to stay on the sidelines, waiting for a solid bottom. No deals were reported.
EU rapemeal was quoted between unchanged and five euros per tonne up, following strength in rapeseed futures, which tracked firmer CBOT soybeans on export demand. A strong dollar for most of the day also underpinned prices quoted in euros. Buyers showed little interest and no business was seen.
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