Markets

European feeds-Soymeal eases with futures on profit-taking

Published December 7, 2017 Updated December 7, 2017 10:07pm

"We are still in a South American weather market and prices found some resistance because of profit-taking. A new rally could occur any time still as the market still feels bullish," one broker said.

South American soymeal was mostly offered between $2 and $6 a tonne lower after CBOT soymeal futures have continued to ease since Wednesday.

Rapemeal was quoted between unchanged and two euros per tonne down from Wednesday, following the lower trend in soymeal. Easier rapeseed futures, down on a record 2017 Canadian canola crop estimate, also weighed.

 

 

Copyright Reuters, 2017