European feeds-Soymeal eases with CBOT futures on technicals

ROTTERDAM: Soymeal on the European meals and feeds market eased on Thursday, tracking the previous night's weaker CBOT soymeal futures close on the back of technical selling.

"The European cash market fixed prices mostly on Wednesday's Chicago close. Business was slow overall as many players were discouraged by recent volatility," one broker said.

South American soymeal was offered between $2 and $5 a tonne lower. A slightly firmer dollar also weighed on products priced in that currency.

Rapemeal was quoted between unchanged and two euros per tonne down from Wednesday, tracking weakness in soymeal. Losses were limited by the firmer dollar and technical gains in rapeseed futures.