ROTTERDAM: Soymeal on the European meals and feeds market dropped on Wednesday following losses in CBOT soymeal futures at the close the day before on benign US crop weather and broad-based commodity weakness.
"Bearish sentiment has take the spotlight again and scared buyers off as they are not willing to buy into a falling market," one broker said.
South American soymeal was mostly offered between unchanged and $5 tonne lower, tracking Tuesday's lower CBOT Chicago soymeal futures close. No trades were reported.
EU rapemeal was offered between unchanged and one euro per tonne down, tracking easier soymeal and lower rapeseed futures, down on technical selling. A strong dollar limited losses as it supports euro-priced products. Buyers showed little interest and no business was seen.
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