US Cash Soymeal-Basis mostly weak due to ample spot supplies

CHICAGO: Spot cash basis offers for soymeal were mostly steady to weak in the US Midwest on Monday, with ample nearby supplies of the feed ingredient pressuring values in rail markets, brokers said.

One exception was Decatur, Alabama, where the basis firmed as crusher downtime limited spot supplies.

As of 12:50 p.m. CDT (1750 GMT), CBOT August soymeal futures were up $3 at $372.40 per ton. The August CBOT crush was up 3-3/4 cents at 83-3/4 cents per bushel.