CHICAGO: Soymeal basis offers fell by $4 per ton in the truck market in Frankfort, Indiana, on Friday and were mostly unchanged elsewhere in the United States amid lackluster demand from livestock and poultry producers, dealers said.
Demand has been slow for weeks. Many buyers already bought all the feed they needed for the remainder of 2016 and the first weeks of 2017 to protect against any shipment delays during the holiday season.
Dealers were rolling offers to Chicago Board of Trade March soymeal futures from the January contract. There were 103 deliveries posted against CBOT January futures on first notice day, within analyst estimates ranging from zero to 200 deliveries.
The US Department of Agriculture reported export sales of US soymeal last week of 251,900 tonnes, including 145,100 tonnes bound for Mexico. The sales topped analyst expectations of 50,000 to 200,000 tonnes.
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