CHICAGO: Spot basis offers for US soymeal were mixed at processors in the truck market on Wednesday, falling sharply in areas west of the Mississippi River but rising in eastern areas of the Midwest, dealers said.
Processors that had received good amounts of soybean deliveries from the early harvest were relaxing basis offers as they were able to boost their pace of crushing.
But wet fields were causing some delays in eastern locations, leaving processors there short of crushing supplies.
Rail market offers held steady after firming earlier in the week.
A processor in Claypool, Indiana, posted soymeal offers after having no quote for a week. A dealer at that location, where offers were $5 higher than they were a week ago, said soymeal supplies were still tight despite an uptick of soybean deliveries.
Offers fell $15 to $16 per ton in parts of Iowa, the top production state for soybeans.
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