Markets

European feeds-Soymeal rallies on Argentine weather worries

Published November 20, 2017 Updated November 20, 2017 10:23pm

South American soymeal was mostly offered between $5 and $9 a tonne up from Friday, though buyers were unwilling to pay the higher prices and no deals were seen.

"The market started the week with Friday's gains in Chicago in mind," one broker said, adding that buyers were content to remain on the sidelines because they have plenty of time before South American soybeans will be harvested.

Rapemeal was mostly quoted between unchanged and 3 euros a tonne higher, tracking the strong trend in soymeal. Weaker rapeseed futures, which were down on lower energy markets and lack of demand, limited gains.

Bids were scarce and no business was reported.

 

 

Copyright Reuters, 2017