ROTTERDAM: Soymeal prices on the European meals and feeds market eased on Monday following CBOT soymeal futures on a recovery of the dollar, market sources said.
"Prices dropped on the dollar, and business was slow as the fall was no incentive for buyers to enter the market ahead of All Saints holiday on Tuesday in large parts of Europe," one broker said.
South American soymeal was offered between $6 and $8 a tonne down from Friday, following the trend in CBOT soymeal futures and because of the stronger dollar, which weighs on dollar-priced products. Buyers showed little interest, waiting for the market to bottom out, and no deals were reported.
Most other products were quoted flat to a little easier following the trend in soymeal and because of weaker rapeoil futures, but losses were limited by the stronger dollar, which supported euro-priced products.
Bids were scarce and no deals were reported.
Comments
Comments are closed for this article.