European feeds-Soymeal stronger with futures on short covering
Gdynia, December 6 (LSEG) - Soymeal on the European meals and feeds market rose on Wednesday on the back of a bargain buying in CBOT soymeal futures and because of worries about tighter Brazilian crop.
Market awaited new figures in the USDA's supply and demand report due on Friday, December 8.
South American soybean meal was offered between $2 a tonne lower and $31 a tonne higher after CBOT soymeal futures closed higher on bargain buying on Tuesday.
Strength in soymeal futures continued on Wednesday amid short-covering and also because of recent U.S. export activity.
EU rapemeal was offered between one and six euros a tonne higher, tracking gains in Chicago soymeal and supported by a stronger dollar.