ROTTERDAM: Soymeal on the European meals and feeds market was offered in a tight range on Tuesday due to a lack of fresh market moving news on the first trading day of 2018.
“Prices found some support in a dip in the dollar early in the day, but prospects of a bumper South American crop despite drier weather in Argentina weighed,” one broker said.
South American soymeal was offered between $3 a tonne down and $3 a tonne up from Friday, before the New Year break. A slightly firmer trend in CBOT soymeal was supportive also.
Rapemeal was quoted between unchanged and three euros per tonne higher, following strength in rapeseed futures on worries that lack of rain in the Argentine soybean belt could tighten global oilseed supplies.
Buyers showed little interest and no business was reported.
Source: Brecorder.com
