Soyameal on the European meals and feeds market was offered sharply higher on Thursday on a fund-driven rally in CBOT soyacomplex futures. That came because of a softer dollar and uncertainty about Federal Reserve monetary policy steering speculative money towards agricultural commodities.
"Sellers were following soaring Chicago futures, but buyers were not willing to pay the higher prices market, still believing there is plenty of everything. A trade fair in Bremen, Germany also dampened demand today," one broker said. South American soyameal was mostly offered between $5 and $11 a tonne higher, following the trend in CBOT soyameal futures at the close on Wednesday. Buyers were not willing to pay the higher levels and no trades were reported. EU rapemeal was quoted between unchanged and three euros per tonne up from Wednesday.