US Cash Soymeal-Offers mostly flat; supplies remain tight

CHICAGO: Spot basis offers for soymeal held steady at most processors serving both the rail and truck markets on Friday, dealers said.

Demand was routine.

Tight supplies of soymeal, stemming from a slowdown in the amount of soybeans available for crushing, underpinned prices, a Minnesota broker said.

Although the interior basis was mostly steady, offers rose by $1 per ton in Mankato, Minnesota.

On the export front, CIF and FOB offers for soymeal shipped by barge weakened for supplies delivered in September. Soybeans harvested in the coming weeks will be available to processors during September.