ROTTERDAM: Soymeal on the European meals and feeds market eased on Wednesday along with CBOT soymeal futures as speculators closed their positions following a strong rally the previous day.
* "Business picked up a little, but in soymeal there is little faith in more deferred positions, while some speculative demand was seen in new crop rapemeal," one broker said.
* South American soymeal was offered mostly between unchanged and down $3 tonne from Tuesday in line with weaker CBOT soymeal futures
* Afloat Brazilian soymeal pellets changed hands at $475 and $471 a tonne cif Rotterdam from two different vessels, and April shipment traded $3 down from Tuesday at $470 and $469 a tonne cif.
* Most other products were offered flat to a little firmer on the back of steadier nearby rapeseed futures and improved demand for new crop rapemeal.
* EU rapemeal changed hands at 208 euros ($270) per tonne fob lower Rhine for Aug/Oct, while Nov/Jan traded at 210 euros and Feb/April fetched 211 euros fob.