ROTTERDAM: Soymeal on the European meals and feeds market eased on Monday, following falling fob markets in Brazil on the back of planned talks between the United States and the world's top soy purchaser China to reduce trade tensions.
"When the talks between the US and China cause the latter to shift its buying pattern back to the US from South America, it will pressure prices there," one broker said.
South American soymeal was mostly offered between $2 and $6 a tonne lower, mostly ignoring gains in CBOT soymeal futures on hopes the US-China talks could boost Chinese buying of US soybeans and products.
Worries over tight nearby supplies and technicals boosted asking prices for EU rapemeal by one to seven euros. Ongoing logistical problems because of low water levels in Europe also underpinned rapemeal.
Comments
Comments are closed for this article.