ROTTERDAM: Soymeal on the European meals and feeds market rose on Thursday, tracking gains in CBOT soymeal on concerns over lower US soybean yields.
“Some dealers believe the yield number for soybeans in USDA’s November crop report could be lower because of the weather. Buyers here believe it will still be a huge harvest and did not show any nervousness the market could move away from them,” one broker said.
South American soymeal was offered between $1 and $4 a tonne higher, tracking gains in CBOT soymeal futures. Buyers were not prepared to pay the higher levels and no business was reported.
Rapemeal was mostly quoted between unchanged and two euros per tonne lower, pressured by a weaker dollar, which weighs on euro-priced products. A lack of demand also added to the weaker tone. No trades were reported.
Source: Brecorder.com
