European feeds-Soymeal rallies with futures on strong U.S export demand, technical buying
Gdynia, December 12 (LSEG) - Soymeal on the European meals and feeds market rose on Tuesday due to gains in CBOT soybean and soymeal futures on strong demand for U.S. soy supplies and technical buying.
South American soybean meal was offered as much as $20 a tonne higher from Monday, supported by a weaker dollar and worries about Brazilian crop conditions due to hot and dry weather.
EU rapemeal was offered between two and four euros a tonne higher, tracking rallies in Chicago soybean and soymeal futures. Lower European rapeseed futures and a weaker dollar weighed.