US Cash Soymeal-Basis offers hold mostly steady

CHICAGO: Basis offers for truck- and rail-delivered US soymeal held mostly steady on Tuesday, underpinned by solid demand and firming soybean basis values, dealers said.

Narrowing soybean crush margins have supported higher soymeal basis values in recent days. Margins have thinned as a slowdown in soybean sales by farmers prompted an uptick on basis bids for crushing supplies.

Chicago Board of Trade December soymeal futures were $1.70 lower at $303.90 per ton at 12:11 p.m. CST (1811 GMT).