US Cash Soymeal-Basis offers hold steady on light demand

CHICAGO: Spot basis offers for US soymeal held steady at processors in both the rail and truck markets on Monday, capped by generally light demand, dealers said.

Reduced processing volumes amid scattered plant maintenance downtime underpinned basis levels.

Dealers continued to roll their basis offers to the Chicago Board of Trade September contract from the August contract. The August contract expires on Friday.

There were no deliveries posted against the August soymeal contract. The total in the month to date is 301 contracts.

At 11:32 a.m. CDT (1632 GMT), CBOT August soymeal was down $2.20 at $333.60 a ton. CBOT September soymeal was $3.20 lower at $331.20 a ton.