US Cash Soymeal-Basis offers flat on light pre-harvest demand

CHICAGO: US soymeal basis offers were mostly unchanged on Monday as some end users bought truckloads of the animal feed, but overall demand overall was minimal before the autumn soybean harvest gets going in the Midwestern crop belt, dealers said.

Some soy processors were slashing their soybean bids as farmers started harvesting the earliest maturing fields. But widespread harvest activity - and a more ample supply of soymeal - was still weeks away.

Truck basis offers maintained their large premiums over the rail market, and much of the near-term demand centered on smaller-volume truck trades.