US Cash Soymeal-Rail offers fall; truck market unchanged

Shoaib Ur Rehman December 19, 2018

CHICAGO: Spot basis offers for US soymeal eased for delivery by rail on Wednesday but held steady in the truck market, dealers said.

* Rail market demand was weak as any new shipments by train would not arrive before the end of the year amid rising holiday traffic, a mid-South broker said.

* But some end users were still likely to book small loads for truck delivery to ensure they had enough supplies to last through Christmas, an Indiana dealer said.

* On the export front, the CIF market for soymeal shipped by barge to the US Gulf was weak. FOB offers held steady.

* Dealers continued to roll their basis offers to the Chicago Board of Trade March contract from the January contract .

* At 9:39 a.m. CST (1539 GMT), CBOT January soymeal futures were down $2.30 at $308.10 a ton. The March contract was $2.40 lower at $312.30.

Copyright Reuters, 2018
 

 

 

 

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