ROTTERDAM: Soymeal on the European meals and feeds market continued to firm on Monday following the trend in Chicago markets on talk of smaller South American soybean crops, market sources said.
"Prices rise, but demand remains slack due to tight margins and low meat prices, with buyers only showing a little demand for nearby material," one broker said.
South American soymeal was offered between $5 and $7 a tonne up from Friday following CBOT soymeal futures after spot delivery Argentine high protein soymeal traded at $416 a tonne fob Rotterdam and spot delivery Argentine soymeal pellets fetched $384 a tonne fob.
Most other products were quoted flat to a touch firmer following soymeal and because of strong rapeseed futures, which continued to rise on fears for smaller early crops due to killing frost. Buyers showed little interest and no deals were reported.
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