ROTTERDAM: Soymeal on the European meals and feeds market slipped on Monday following Friday's fall in CBOT soymeal futures on the back of a weaker Brazilian real , which makes Brazilian soymeal cheaper for foreign buyers.
"The market was also pressured by lack of demand as buyers still believe we are heading for a huge US soybean harvest despite some worries over yields," one broker said.
South American soymeal was offered between flat and $5 a tonne down, tracking Friday's weaker CBOT soymeal futures close and because of a stronger dollar. Buyers were not willing to buy into a falling market and remained sidelined. No business was reported.
Rapemeal was mostly quoted between unchanged and two euros per tonne lower, tracking the weaker trend in soymeal and because of slow demand. Firmer rapeseed futures and the dollar strength limited losses. No trades were seen.
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