European feeds-Soymeal eases with futures on larger stocks

ROTTERDAM: Soymeal on the European meals and feeds market eased on Friday, tracking lower CBOT soymeal futures on the back of forecasts for larger US soybean stocks.

US Agriculture Department on Friday forecast a record large domestic soybean stockpile in 2018/19 amid reduced exports to China due to a trade fight.

South American soymeal was mostly offered between unchanged and $3 a tonne down from Thursday. A stronger dollar also weighed on products priced in that currency.

EU rapeseed was offered in a tight range as weakness from soymeal was offset by concerns over a smaller rapeseed crop outlook due to dry weather and the stronger dollar also underpinned euro-priced products.