Markets

European feeds-Soymeal eases on China rates hike

Published Updated

"Business remains thin despite weaker asking prices coupled to a lower dollar. Buyers remain sidelined expecting prices to ease further under South American harvest pressure," one broker said.

South American soymeal were offered between $5 and $7 a tonne down from Monday following easier CBOT soymeal futures. May/Sept Argentine high protein changed hands at $219 a tonne cif Rotterdam.

Most other products were offered flat to slightly down from Monday following the trend in soymeal and a weaker dollar which weighed on euro-priced products and easier rapeseed futures. May/July EU rapemeal changed hands at 185 euros per tonne fob lower Rhine and Aug/Oct traded at 176 euros fob.

Copyright Reuters, 2011