CHICAGO: Soymeal spot basis offers were largely unchanged in the United States on Friday as futures turned slightly higher in a rebound from two-year lows, dealers said.
Some dealers discounted basis offers slightly this week even as futures declined. US soybean processors were operating at near-record rates for this time of year, boosting available supplies.
Demand remained relatively strong due in part to low prices.
Dealers continued to roll basis offers to the Chicago Board of Trade October contract from the September contract . With the spread between the two contracts only about $1 per ton, dealers were keeping basis levels the nearly same during the roll.
CBOT October soymeal was up 90 cents to $302.70 per ton at 11:32 a.m. CDT (1632 GMT).
The CME Group posted 161 deliveries against the CBOT September soymeal contract.
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