ROTTERDAM: Soymeal on the European meals and feeds market was stronger on Monday because of concerns over lack of rain in Argentine soybean growing areas.
South American soymeal was offered between unchanged and $5 a tonne higher, tracking Friday's stronger CBOT soymeal futures close.
"The market also gained somewhat ahead of Friday's fresh USDA crop and supply/demand reports, but buyers were not following, still anticipating a bumper South American soybean crop," one broker said.
Rapemeal was mostly quoted between 1 euro and 2 euros a tonne up from Friday, tracking firmer soymeal and supported by the stronger dollar, which underpins euro-priced products. Technical weakness in rapeseed futures limited gains.
Buyers showed little interest and no business was seen.
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