ROTTERDAM: Soymeal prices on the European meals and feeds market were mostly easier on Monday because of expectations for a bumper South American soybean harvest.
"Harvest pressure keeps dominating the market at the moment, especially because of the absence of a direction from CBOT market due to a public holiday today in the U.S," one broker said.
South American soymeal was mostly offered between unchanged and $3 a tonne down from Friday. A strong dollar also weighed on dollar-priced soymeal. Buyers showed little interest in entering a falling market and no deals were reported.
Weaker soymeal and technical selling in rapeseed futures, because of a bright global oilseeds outlook, caused asking prices in rapemeal to ease to between unchanged and five euros per tonne lower. Bids were scarce due to a lack of fresh leads and no business was reported.
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