Soyameal firmer on European feeds market

Soyameal on the European meals and feeds market firmed again on ongoing concerns over rain in Argentine soyabean growing areas, which could cut yields. "We still have a weather market going on, but just as sudden as it started it can end and then we could see the correction buyers on the cash market were predicting already for days," one broker said.
South American soyameal was mostly offered between unchanged and $5 per tonne up, tracking last night's firmer CBOT soyameal futures close. Buyers showed little interest in the higher market and no business was reported. EU rapemeal was quoted between one euro per tonne up and one euro down, supported by stronger soyameal and a firmer dollar.