European feeds-Soymeal falls on forecasts for Argentine rains

ROTTERDAM: Soymeal on the European meals and feeds market eased on Friday following a drop in CBOT soymeal futures at the previous close on forecasts for much needed rains in the Argentine soybean belt.

"For the time being the bears have the market as there is little constructive and fundamental news that supports prices," one broker said.

South American soymeal was offered between $3 and $8 a tonne lower, following easier Chicago soymeal futures and because of slack demand.

Rapemeal was quoted between flat and one euro per tonne up, tracking technical strength in rapeseed futures. Weaker soymeal and a lack of buying interest limited gains.

Buyers showed little interest ahead of the weekend and no business was reported.