European feeds-Good U.S exports push soymeal higher

ROTTERDAM: Soymeal offers on the European meals and feeds market were firmer on Monday on the back of good US export demand that pushed CBOT soymeal futures up at the close on Friday.

"The market is drifting slowly towards the end of the year and prices were mostly fixed on Friday's Chicago close," one broker said. South American soymeal was mostly offered between flat and $3 a tonne higher, tracking Friday's stronger Chicago soymeal futures close. Buyers showed little interest and no business was reported.

EU rapemeal was quoted flat to one euro per tonne down from Friday, following the weaker trend in rapeseed futures, which were pressured by a brighter global oilseed outlook. Bids were scarce and no deals were reported.