European feeds-Soymeal eases ahead of USDA reports

ROTTERDAM: Soymeal on the European meals and feeds market eased on Wednesday on positioning ahead of fresh USDA crop and supply/demand reports, which were issued too late in the European day for players to react to.

"Players were expecting bearish USDA numbers so they lowered levels in anticipation," one broker said.

South American soymeal was mostly offered between $2 and $6 a tonne down from Tuesday, also pressured by weakness in CBOT soymeal futures.

EU rapemeal was quoted between two and five euros per tonne lower, tracking weaker soymeal and losses in rapeseed futures on expectations for a brighter global oilseeds supply outlook. A weaker dollar also weighed on euro-priced products.