ROTTERDAM: Soymeal on the European meals and feeds market eased on Friday, following the weaker trend in CBOT soymeal futures, which were pressured by ample supplies and light demand on the US cash market.
"It is not a surprise that demand is slowing as there are just two full weeks away from the holiday season," one broker said, adding that around this time of the year dealers start winding down business for the year-end.
South American soymeal was mostly offered between $1 and $6 a tonne lower on follow-through selling in CBOT soymeal futures. A strong dollar also weighed on products priced in that currency.
Rapemeal was mostly quoted between unchanged and one euro per tonne down, following the weaker trend in soymeal and pressured by lower rapeseed futures, which were down on a record 2017 Canadian canola crop estimate.
Buyers showed little interest in the falling market, waiting for a solid bottom. No business was reported.
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