CHICAGO: Spot basis offers for US soymeal were flat to mixed on Tuesday as expectations for increased supplies weighed on prices in some truck and export markets, traders said.
Existing supplies remained relatively tight, but dealers predicted more ample stockpiles during the next few weeks as the soybean harvest accelerated.
Truck offers were down about $11 per ton in the Minnesota truck market, where soybean yields were better than expected, a dealer there said.
Livestock and poultry producers were still buying "hand to mouth" and delaying bigger and deferred purchases in the hopes prices decline in October, the dealer added.
Chicago Board of Trade December soymeal futures were down $3.30 at $311.00 per ton at 10:40 a.m. CDT (1640 GMT), declining on pressure from the US soy harvest and rains in Brazilian soy growing areas.
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