European feeds-Soymeal in a tight range as dollar offsets bearish data

ROTTERDAM: Soymeal on the European meals and feeds market held in a tight range on Thursday as the previous day's bearish supply and demand data from the US Department of Agriculture was offset by a weak dollar, which supports assets priced in that currency.

The outlook for a bumper US soybean crop also weighed on prices.

South American soymeal was mostly offered between flat and $1 a tonne down from Wednesday. The outlook for a bumper US soybean crop, which pressured CBOT soymeal futures, also weighed on prices.

EU rapemeal was quoted between one and two euros per tonne lower on the back of slack demand and a weaker dollar, which weighed on euro-priced products.