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Thursday, March 30, 2023

European feeds-Soymeal edges up on weak dollar

European feeds-Soymeal edges up on weak dollarROTTERDAM: Soymeal on the European meals and feeds market edged higher on Tuesday, underpinned by a weak dollar and correcting slightly from its recent losses on an expected bumper US soybean crop.

South American soymeal was mostly offered between $1 a tonne down and $3 higher as the weaker dollar supported dollar-priced products.

Easier CBOT soymeal futures on the back of the outlook of a large US soybean harvest and worries over African swine fever in China’s hog herd, limited gains.

EU rapemeal was offered mixed. A brighter global oilseed supply outlook and a lower dollar, which weighs on euro-priced products, pressured prices. The steadier tone in soymeal was supportive.

Copyright Reuters, 2018

Source: Brecorder

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