ROTTERDAM: Soymeal on the European meals and feeds market eased on Thursday in sympathy with an easier trend in CBOT soymeal due to technical selling in soybean futures and concerns over reduced Chinese demand for US soybeans now the Brazilian harvest is well on the way.
"The European cash market followed Chicago, which kept many buyers sidelined, although they cautiously look at the backlogs at Brazilian ports, which could lead to supply disruptions here," one broker said.
South American soymeal was offered between $4 and $9 a tonne down from Wednesday, mostly in line with easier CBOT soymeal futures.
Afloat Brazilian soymeal pellets changed hands at $527 a tonne fob Rotterdam, down $2 from Wednesday.
Most other products were offered between flat and five euros per tonne down in sympathy with soymeal and because of weaker rapeseed futures, which followed the trend of Chicago soybeans on follow-through technical selling.
<Center><b><i>Copyright Reuters, 2013</b></i><br></center>
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