US Cash Soymeal-Basis offers mostly flat on light demand

CHICAGO: Spot basis offers for US soymeal were quietly unchanged around much of the United States on Monday, with values capped by light demand from end users, dealers said.

* Demand for soymeal has been largely quiet this month following a flurry of buying in December ahead of the end-year holidays, a broker said.

* Farmer sales of soybeans to processors were limited on Monday due to a drop in Chicago Board of Trade futures prices. But many processors have most of their soybean needs filled through at least February, a broker said.

* Softening soymeal export demand capped CIF and FOB basis values at the Gulf Coast.

* Chicago Board of Trade March soymeal futures were down $3.50 at $311.10 a ton at 12:15 a.m. CST (1815 GMT).