Soyameal down on European feeds market

Soyameal on the European meals and feeds market continued to fall on Wednesday on expectations of improving South American soyabean yields as crop weather improved.
Brazil has already started soyabean harvesting and is expected to start shipping its produce in March/April.
"Business remained fairly calm because buyers still believe the South American soyabean harvest can weigh even more on prices once it hits the market," one broker said.
South American soyameal was offered between $3 and $5 a tonne down from Tuesday, ignoring a mild technical rebound in CBOT soyameal futures. Buyers were still not convinced the market is close to the bottom and stayed sidelined. No deals were reported.