US Cash Soymeal-CIF bids weaken on export concerns; truck, rail market flat

 CHICAGO: Basis bids for US soymeal shipped by barge to the US Gulf weakened on Friday, with concerns that cheaper supplies from South American will dampen demand for US exports hanging over the market.

* Spot basis offers were unchanged at processors in the rail and truck markets, dealers said.

* Demand for domestic end users was steady, an Indiana dealer said.

* The US Agriculture Department on Thursday morning said that weekly soymeal export sales were 152,700 tonnes, down from 190,376 tonnes a week ago. Analysts' forecast for soymeal export sales had ranged from 100,000 to 300,000 tonnes.