ROTTERDAM: Soymeal on the European meals and feeds market fell on Monday with CBOT soymeal on bearish USDA supply/demand data, issued on Friday, market sources said.
"We saw follow-through selling on the back of the USDA supply/demand data and because of the strong dollar. Buyers were still holding back waiting for the market to bottom out. Business is slowly getting into the pre-Christmas doldrums, which does not help either," one broker said.
South American soymeal was offered $5 to $7 down from Friday following the trend in CBOT soymeal futures and because of a strong dollar, which weighs on dollar-priced products. Bids were scarce and no deals were reported.
Most other products were quoted flat to a somewhat lower from Friday, following the trend in soymeal and because of weak rapeseed futures. Buyers showed little interest and no business was seen.
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