ROTTERDAM: Soymeal on the European meals and feeds market eased on Friday following bearish USDA supply/demand data, market sources said.
"The higher than expected USDA US ending stocks for beans, corn and wheat caused a drop in Chicago and the European cash market followed. Business was slow because both sides of the market held back ahead of the release of the USDA data and when the figures turned out to be bearish, buyers were gone for the weekend," one broker said.
South American soymeal was offered several dollars down from Thursday following the trend in CBOT soymeal futures. Arrived Argentine high protein soymeal changed hands at $350 a tonne fob Rotterdam.
Most other products were quoted flat to a little down from Thursday, in line with soymeal and weaker rapeseed futures. Buyers showed little interest and no deals were seen.
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