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Markets

US Cash Soymeal-Basis flat; demand dips as futures rise

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By Fawad MaqsoodReuters

CHICAGO: Spot basis offers for US soymeal held steady in the truck and rail markets on Friday, dealers said.

Demand was light, a dealer in the Kansas City market said.

Strength in the futures market pulled cash prices higher and chilled interest from end users.

Dealers continued to roll their basis offers to the Chicago Board of Trade September soymeal futures contract from the August soymeal futures contract.

At 11:03 a.m. CDT (1603 GMT), CBOT August soymeal futures were up $5.70 at $312.70 a ton. The September contract was $5.60 higher at $314.

Copyright Reuters, 2019

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