ROTTERDAM: Soymeal on the European meals and feeds market edged higher on Thursday, tracking technical strength in CBOT soymeal futures at the previous close.
“Prices were up on technicals in Chicago but buyers were not impressed and still believe there is plenty of material available,” one broker said, adding that expectations are for a bumper South American soybean crop.
South American soymeal was offered between unchanged and $4 a tonne higher, mostly tracking CBOT soymeal futures. Buyers were not prepared to pay the higher levels and no deals were reported.
Rapemeal was quoted between unchanged and 2 euros a tonne higher, following firmer soymeal and underpinned by a stronger dollar and technical strength in rapeseed futures.
Source: Brecorder.com
