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European feeds-Prices falls on Chicago soymeal setback
September 1, 2015 / 4:16 PM / 2 years ago

European feeds-Prices falls on Chicago soymeal setback

LONDON, Sept 1 (Reuters) - Soymeal prices on Europe’s animal feed market were mostly weaker on Tuesday, weighed down by a decline in Chicago futures to a 2-1/2 month low.

Dealers said weak domestic demand in the United States had contributed to the setback in Chicago, with some livestock producers delaying purchases until the harvest gets underway in the U.S. Midwest later this month.

EU hi-protein soymeal for September delivery was offered for sale at $397.00 a tonne, down $1.00, with a trade reported for at $395.00, fob Rotterdam.

A trade was also reported for Brazilian hi-protein supplies, afloat on the Kang Xin Hai, at $408.00 a tonne.

Rapemeal prices also eased with offers for EU supplies cut by between 1.00 and 3.00 euros a tonne.

December CBOT soymeal was down 1.3 percent at $307.40 per ton at 1549 GMT after earlier falling to a low of $305.90, its weakest level since mid-June. (Reporting by Nigel Hunt; Editing by David Holmes)

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