ROTTERDAM: Soymeal on the European meals and feeds market firmed slightly on Friday following a recovery in CBOT soymeal futures on technical buying and worries over tight US soybean supplies.
"The European cash market remained dull due to a lack of fresh market moving news and underlying bearish sentiment. Buyers have no confidence in the market at the moment and are just buying prompt material when needed," one broker said.
South American soymeal was mostly offered between unchanged and $8 a tonne up from Thursday, tracking stronger CBOT soymeal futures.
EU rapemeal was offered between one and three euros per tonne down, mostly in sympathy with a sharp technical dip in old-crop rapeseed futures and because of slack demand. Bids were scarce and no deals were reported.
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