European Feeds -EU soymeal, rapemeal trades
HAMBURG, Jan 19 (Reuters) - Lack of Argentine soymeal shipments to Europe transferred purchase interest to EU-produced soymeal in Europe’s animal feed market on Friday, traders said.
EU-produced rapeseed meal also traded.
“With supplies of Argentine soymeal available on ships so scarce, buyers were seeking alternative soymeal supplies for quick delivery from crushing mills in Hamburg and Rotterdam,” one European trader said.
German-produced high protein soymeal traded at $394 a tonne fob in Hamburg for February delivery and in the Netherlands Dutch high protein soymeal traded at $393 a tonne for February delivery, traders said. EU low protein soymeal of 44/7 grade also traded in euros at the equivalent of $364.5 euros a tonne for February delivery.
EU rapeseed meal for February/April delivery traded at 196 euros and 197 euros a tonne fob lower Rhine. May/July delivery EU rapemeal traded at 198, 199, 200 and 201 euros a tonne fob lower Rhine. No comparative soymeal or rapemeal trades were reported on Thursday.
“We continue to face a gap in Argentine soymeal shipments to north Europe, with only two ships arriving in Rotterdam and Amsterdam in late January and then no more in February,” one European trader said.
“The unusual lack of afloat supplies from Argentina for trading on ships in February will mean meal producers will have to meet more demand, and prices are rising.”
In Europe, sales offers for Argentine high-protein soymeal for February delivery on Friday rose $6 to $390 a tonne cif Rotterdam and are now up $18 on the week. Sales offers for EU-produced high-protein soymeal for February delivery rose $3 to $393 a tonne fob Rotterdam. Brazilian high-protein soymeal for February delivery rose $7 to $401 a tonne cif Rotterdam.
European prices were also supported by a 1.1 percent rise in Chicago soymeal futures on Thursday in turn because of fear dry weather could damage Argentine soybean crops. Argentina is the world’s top soymeal exporter.
Source: Reuters
