Prices were mixed in Europe's animal feed meal market on Tuesday, with weakness caused by a fall in Chicago soyameal futures as attention turned to the record-large US soyabean crop now being harvested.
The main trade reported in Europe was in Argentine high protein soyameal, which changed hands at $370 a tonne fob for November/December shipment. No comparative trade was reported on Monday.
Public holidays in much of Europe including France, Italy, Poland and Spain along with around half of German states cut market participation.
"The weaker trend in Chicago soyameal, good progress with the US soyabean harvest and indications of good planting progress in South American soyabeans undermined some prices today along with thin demand because of the holidays around Europe," one European trader said.
"But there is still demand visible in Europe for meal supplies for delivery up to the end of this year." Chicago soyameal futures fell around 1.6 percent in early Tuesday trade as attention in the soya complex returned to the record-large US soyabean crop this year that is being gathered without major problems.
In Europe, Brazilian high protein soyameal for spot delivery fell $2, offered for sale at $399 a tonne CIF Rotterdam. Spot delivery Argentine high protein soyameal was little changed at $380 a tonne. EU-produced high protein soyameal for November delivery rose $2 to $378 a tonne FOB Rotterdam.