US Cash Soymeal-Truck, rail basis offers steady to higher

CHICAGO: Basis offers for truck- and rail-delivered soymeal were steady to higher around the United States on Monday, supported by good demand for animal feed and firming soybean basis values as the US harvest is winding down, dealers said.

Soybean crushing margins are narrowing as cash basis values for incoming soybean supplies are rising with the conclusion of the Midwest harvest and the seasonal slowdown in farmer deliveries. Many farmers are storing more soybeans than normal this year due to low prices.

* Basis values in the export market were weaker.