Soyameal on the European meals and feeds market was offered little changed on Thursday as lack of demand offset gains in CBOT soyameal futures on concerns over crop damaging hot and dry weather in the US Midwest. "The market did not move much and there was not much inspiration among players to heat up the European cash market.
Friday will probably be similar with Belgium closed for a public holiday," one broker said. South American soyameal was offered between unchanged and $3 a tonne higher, at least moving in the same direction as CBOT soyameal futures. Buyers showed little interest and no deals were reported.
EU rapemeal was quoted between unchanged and two euro per tonne up, following the trend in soyameal, while technical weakness in rapeseed futures and a weak dollar, which weighs on euro-priced products, limited gains. Bids were scarce and no business was seen.