Markets

Soymeal down on South American rains

Published January 30, 2012 Updated January 30, 2012 06:13pm

"The market eased on rains in South America," one trader said. "After Chicago opening, the European market followed trends there."

South American soymeal was offered between $2 and $5 a tonne down, following Friday's Chicago soymeal futures close and as a strong dollar weighed on dollar-priced products.

Most other products were quoted flat to a little easier, but losses were limited by steadier rapeseed futures and because of the stronger dollar, which supports euro-priced products.

No deals were reported as buyers were holding back in the easing market, awaiting the outcome of a eurozone meeting on a Greek debt deal.

Copyright Reuters, 2011