"Although many players still believe the USDA report could see an increase in soybean yields, bearish sentiment is slowly fading because of adverse weather in both US and Brazilian soybean growing areas," one broker said.
South American soymeal was mostly offered between unchanged and $2 per tonne lower, also tracking technical weakness in CBOT soymeal futures at the close on Monday. Buyers showed little interest and no trades were reported.
EU rapemeal was quoted between unchanged and three euros per tonne lower, tracking easier soymeal and because of easier rapeseed futures, on technicals and improved farmer selling. A dip in the dollar added to the lower asking prices in rapemeal. Bids were scarce and no business was seen.