European feeds-Soymeal slightly lower on dollar, ample supplies

ROTTERDAM: Soymeal on the European meals and feeds market was offered a tad lower on Thursday, dragged down by a slightly firmer dollar and the outlook for ample global soybean supplies.

"The market is still under the spell of bearish sentiment and that keeps buyers on the sideline, waiting for the market to bottom out," one broker said.

South American soymeal was mostly offered between unchanged and $4 a tonne down with slightly firmer CBOT soymeal futures capping losses. Buyers showed little interest and no business was reported.

EU rapemeal was hardly changed as support from the firmer dollar balanced lack of demand and weaker soymeal levels. Rapeseed futures also traded in a tight range. Bids were scarce and no deals were seen.