Soyameal eases on European feeds market

Soyameal on the European meals and feeds market eased on Friday on the back of beneficial rain in the Brazilian soyabean belt and due to a weaker CBOT soyameal close the day before on lagging export sales. "Prices were mostly fixed on last night's Chicago close and there was no need for buyers to enter the market ahead of the weekend. By the time CBOT soyameal futures rose on short-covering this afternoon most players here had already gone home," one broker said.
South American soyameal was mostly offered between unchanged and $2 a tonne lower, tracking Thursday's easier CBOT soyameal futures close. Buyers showed little interest and no business were reported. Rapemeal was mostly quoted between unchanged and one euro per tonne lower, following the easier trend in soyameal and a dip in the dollar also weighed on euro-priced rapemeal. Bids were scarce and no deals were seen.