ROTTERDAM: Soymeal on the European meals and feeds market rose further, following CBOT soymeal futures on fears drought in South American soybean growing areas could lead to smaller crops, market sources said.
"The cash market gained substantially following Chicago, but demand remained slack due to low meat prices and business also started to slow down ahead of the Christmas period," one broker said.
South American soymeal was offered between $6 and $10 up from Friday following CBOT soymeal futures. Afloat Brazilian soymeal pellets changed hands at $352 a tonne cif Rotterdam and December shipment fetched $350 a tonne cif.
Most other products were quoted flat to a bit firmer following the trend in soymeal and stronger rapeseed futures. Buyers showed little demand at the higher levels and no deals were reported.
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