ROTTERDAM: Soymeal on the European meals and feeds market eased slightly on Tuesday sagging on slack demand and a strong dollar, market sources said.
"The underlying strength in Chicago over worries about smaller South American soybean crops remained, but nevertheless prices eased a little due to the dollar and little buying interest," one broker said.
South American soymeal was offered between $1 and $3 a tonne up from Tuesday on the dip in the euro against the dollar, which weighs on dollar-priced products, mostly ignoring CBOT soymeal futures . Afloat Argentine high protein soymeal traded at $479 a tonne cif Rotterdam.
Most other products were offered flat to a little easier following the trend in soymeal and a mild technical correction due to profit-taking, but losses were limited because of stronger rapeseed futures. EU rapemeal changed hands at 206 euros per tonne fob lower Rhine for Nov/Jan.