Soyameal eases on European feeds market

Soyameal on the European meals and feeds market eased on Thursday due to a lack of demand and losses in CBOT soyameal futures on the back of profit taking following recent gains. "There is little going on in the cash market as most players have already closed their books for this year with only one more trading day to go," one broker said.
South American soyameal mostly offered between $1 and $3 a tonne down from Wednesday, following the weaker trend in Chicago soyameal futures. A weaker dollar, which underpins prices quoted in that currency, limited losses. Rapemeal was quoted between flat and four euros per tonne lower, tracking weaker soyameal and pressured by a lack of buyers. Both technical weakness in rapeseed futures and a lower dollar, which weighs on euro-priced products, also added to the weakness in rapemeal.