Soyameal rises on European feeds market

Soyameal on the European meals and feeds market was offered substantially higher on Thursday on concerns over tight supplies after a ship damaged a dock at Argentina's Rosario grains hub. South American soyameal was mostly offered between $4 and $9 a tonne higher, tracking steep gains in CBOT soyameal on export hopes because some of the business could move from Argentina to the United States. "Shipments from Argentina are tight already due to a smaller than expected soyabean harvest and with this accident the supply situation becomes even tighter," one broker said.
Rapemeal was offered between 1 euro and 4 euros a tonne higher, tracking gains in soyameal and supported by a strong dollar, which underpins euro-priced products.