ROTTERDAM: Soymeal prices on the European meals and feeds market firmed slightly on Tuesday following Monday's stronger CBOT soymeal -futures and because of a weak dollar, market sources said.
"Asking prices did not go up all that much and with a cheaper dollar buyers were finally covering nearby needs after staying sidelined for days," one broker said.
South American soymeal was offered between unchanged and $2 a tonne up from Monday following the firmer close on Monday in CBOT soymeal futures and because of the weaker dollar, which supports dollar-priced products. Gains were limited by a lower opening in Chicago on Tuesday.
October shipment Brazilian soymeal pellets changed hands at $388 a tonne cif Rotterdam and Nov/Dec traded at $390. Afloat Argentine high protein soymeal traded at $405 and $400 a tonne cif Rotterdam from two vessels, and $398 was paid for October, November and December shipments.
Most other products were quoted flat to a little firmer following soymeal and firmer rapeseed futures, but gains were limited by the weak dollar, which weighs on euro-priced products. Bids were scarce and no deals were reported.
Comments
Comments are closed for this article.