Prices in Europe's animal feed meal market rose on Wednesday, supported by the previous day's rise in Chicago soyameal, ahead of world crop forecasts from the US Department of Agriculture (USDA). The only significant trade reported was in rapeseed meal, which traded at 233 euros ($276.62) a tonne free on truck for prompt delivery in Hamburg. No comparative trade was reported on Tuesday.
The USDA will publish world grain and soyabean supply and demand reports on Thursday, when much of Europe will be closed for a public holiday. "Prices have been swinging up and down this week as the USDA report is awaited," one German trader said. "Soyameal rose 1 percent on Tuesday which was supportive today."
"But I have the impression some risk was being taken off the table today as the USDA report will be announced on Thursday when the European market will be closed."
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