European feeds-Soymeal down on bumper US soybean harvest outlook

ROTTERDAM: Soymeal on the European meals and feeds market eased on Friday as expectations for a bumper US soybean harvest weighed.

South American soymeal was mostly offered between $1 and $5 a tonne down from Thursday, also pressured by technical weakness in CBOT soymeal futures.

EU rapemeal was quoted between one and two euros per tonne lower following the weaker trend in soymeal and due to a weaker dollar, which weighed on products priced in euros.

"The lower trend in markets, triggered by Wednesday's bearish USDA supply/demand report and continuing concerns over the US-China trade war kept buyers sidelined ahead of the weekend," one broker said.