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European feeds-Soymeal eases on favourable S.American crop weather

European feeds-Soymeal eases on favourable S.American crop weatherROTTERDAM: Soymeal on the European meals and feeds market was offered mostly slightly easier on Wednesday due to improved crop weather in Argentina and favourable growing conditions in Brazil.

Nearby Brazilian high protein soymeal rallied on worries over availability on a lack of arrivals at the end of the year.

“Overall buyers do not worry about availability as they believe there is plenty of everything, but logistics can become a nightmare around the holiday season,” one broker said.

South American soymeal was mostly offered between unchanged and $3 a tonne lower, except December and January Brazilian high protein soymeal, which were quoted $11 and $7 a tonne up respectively.

Rapemeal was mostly quoted between flat and one euro per tonne down, tracking weaker soymeal, and pressured by weaker rapeseed futures on the back of the outlook for ample global oilseed supplies.

Buyers showed little interest and no trades were reported.

Copyright Reuters, 2017

Source: Brecorder.com

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