ROTTERDAM: 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.