March 5, 2013

As leads pointed in different directions, soymeal on the European meals and feeds market was offered narrowly mixed with both sides of the market.

"Both buyers and sellers took a bit of a breather, waiting to see in which direction the market develops. Weekly US export data for soy and meal and a reduction of the Argentine soy crop were seen as bullish, while sentiment and slow demand was bearish," one broker said.

South American soymeal was offered between US$3 a tonne up and US$1 down, mostly in line with CBOT soymeal futures, but gains were limited by a strong dollar, which weighs on dollar-priced products.

Afloat Brazilian soymeal pellets changed hands at US$537 a tonne cif Rotterdam.

Most other products were quoted between €4 (US$5.21) per tonne up and €1 (US$1.30) down, supported by the strength of the dollar and firmer rapeseed futures, which were supported by strength in CBOT soy futures. No deals were reported.