CHICAGO: Spot basis offers for US soymeal were mostly unchanged on Tuesday amid routine demand from end users, dealers said.
Some livestock and poultry producers were placing small orders on the spot market to cover immediate needs but few were willing to commit to large purchases, a dealer in Missouri said.
* Futures prices were up on Tuesday but prices were still lower for the week due to a sharp drop on Monday.
* Although the basis was mostly steady, offers rose by $3 per ton at a processor in Council Bluffs, Iowa.
* US Agriculture Department said on Monday afternoon that soybean harvest was 92 percent complete.
* But most farmers were holding much of their harvested crops in storage instead of delivering to processors, keeping basis offers for soymeal higher than is typical for this time of year.
* CBOT December soymeal up $1.30 at $310.60 per ton as of 11:06 a.m. CDT (1706 GMT).
* The CBOT December board crush down 1/2 cent at 51 cents per bushel.
Spot rail soymeal
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