US Cash Soymeal-Basis mostly unchanged on robust demand

 CHICAGO: Soymeal spot basis offers were largely unchanged at US domestic and export markets on Tuesday as demand remained robust and soy crush margins hovered near the highest levels ever, dealers said.

* The recent decline in Chicago Board of Trade soymeal futures enticed domestic livestock and poultry producers to buy train and truckloads of the animal feed. CBOT August soymeal touched a low on Tuesday of $328.20 per ton, the lowest since the roughly five-month low on June 19.

* Comparatively larger declines in prices for soybeans boosted profit margins for soybean processors. Crush margins on the CBOT <CRUSH-1=R> of nearly $1.93 per bushel per bushel of soybeans. That is the highest nice record-large crush margins in 2014, suggesting processors could turn big profits. One cash dealer pegged profit margins on each ton of soymeal at about $50.