US Cash Soymeal-Offers steady, cash prices above buyers' target

CHICAGO: Spot basis offers for US soymeal were mostly steady at truck and rail terminals around the country on Monday as cash soymeal prices remained above target buying levels for most end-users, dealers said.

* Most livestock, poultry and dairy producers have cash prices targets between $320 to $330 per ton. Even with steady to lower CBOT soymeal futures values cash prices remain higher than buyers are willing to pay, dealers said.

* Soymeal March futures traded up 0.03 percent on Monday at $358.70 per ton. March soymeal saw a recent high of $364 per ton on March 8.

* A handful of producers bought light loads of nearby supply to fill only immediate needs, a dealer in western Indiana said.

* End-users are waiting for lower CBOT soymeal futures before buying forward supplies of the animal feed, dealers said.

* A rail offer firmed by 5 cents in Kansas City.

* A central Illinois soyoil offer was 1/4 cent weaker as demand remained lackluster, a dealer said.

* Soybean spot basis bids climbed 7 cents at an elevator in Cincinnati on Monday while bids were firm on the Mississippi River but weak on the Illinois River. Barge freight was steady on Midwest waterways.

* CBOT May soymeal was flat at $362.70 per ton as of 11:04 a.m. CDT (1631 GMT).

* CBOT March board soy crush fell 2-3/4 cents to 47-3/4 cents per bushel on Monday.