US Cash Soymeal-Demand light but most offers unchanged

CHICAGO: Spot basis offers for US soymeal were mostly steady at both truck and rail market processors on Friday but light demand from end users was casting a bearish tone over the market, dealers said.

Most livestock and poultry producers had already booked their orders to supply them through May and there was little call for spot loads, an Indiana dealer said.

Some upcoming maintenance shutdowns were keeping a floor under basis levels in some areas despite the light demand.

A processor in Mankato, Minnesota, was scheduled to shut down for five days beginning May 16, a Minnesota broker said.

Although the basis was mostly steady, offers fell by $4 per ton in the Kansas City truck market.