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US Cash Soymeal-Basis flat, CIF market steady-up slightly

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By Shoaib Ur RehmanReuters

CHICAGO: Spot basis rail and truck offers for US soymeal in the interior Midwest were unchanged on Thursday, while those for grain shipped by barge to the US Gulf were steady to modestly firmer, dealers said.

CIF offers were supported by improved demand for US soymeal fueled by worries about potentially tighter Argentina supplies.

Chicago Board of Trade August soymeal futures settled up $0.40 at $330.90 a ton after soybeans shrugged off initial losses from Thursday's bearish US Department of Agriculture monthly supply/demand report.

Copyright Reuters, 2018
 

 

 

 

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