Markets

European feeds-Soymeal eases with futures on larger stocks

Published Updated

US Agriculture Department on Friday forecast a record large domestic soybean stockpile in 2018/19 amid reduced exports to China due to a trade fight.

South American soymeal was mostly offered between unchanged and $3 a tonne down from Thursday. A stronger dollar also weighed on products priced in that currency.

EU rapeseed was offered in a tight range as weakness from soymeal was offset by concerns over a smaller rapeseed crop outlook due to dry weather and the stronger dollar also underpinned euro-priced products.

Copyright Reuters, 2018