Soyameal offers on Europe's meals and feeds market were flat to higher on Friday, supported by an earlier rebound in Chicago futures as traders grappled with weather uncertainty surrounding for US crops. Activity was light, with some buyers keeping to the sidelines after some bargain-hunting earlier in the week and traders generally seeking clearer indications about US harvest prospects. South American soyameal was mostly offered between unchanged and $2 a tonne up from Thursday.
US soyameal futures earlier extended a rebound from a three-week low hit on Wednesday, before turning lower during the US daytime session. No significant business was reported in soyameal or other meal products. EU rapemeal was quoted between unchanged and one euro per tonne lower. Renewed strength in the euro, which rose back towards a 2-1/2 year high against the dollar was curbing prices of euro-denominated commodities.
Comments
Comments are closed.