CHICAGO: Spot basis offers for US soymeal were mostly steady at processors in both the rail and truck markets on Monday but the market had a firm tone, dealers said.
Signs of strong export demand threatened to keep supplies relatively tight even amid expectation of a huge soybean harvest in the coming weeks, an Indiana dealer said.
Fresh deals with livestock and poultry producers were slow on Monday, dealers said. Most end users were trying to get a handle on futures market activity before committing to new contracts.
A dealer in Missouri described interest from livestock and poultry producers as routine.
Although the basis was mostly steady, truck market offers rose by $2 per ton in Mankato, Minnesota. Offers rose by $1 per ton on the Kansas City rail market.
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