CHICAGO: Midwest cash basis offers for soymeal were unchanged in thin trade on Monday but offers fell $1 per ton in the US Gulf barge export market, reflecting declining costs for shipping on Midwestern rivers.
Competition from South American soymeal suppliers also pressured cash values at the Gulf, dealers said.
Ahead of the National Oilseed Processors Association's monthly crush report on Tuesday, analysts surveyed by Reuters on average expected the organization to report that its members crushed 160.478 million bushels of soybeans in October, the most for the month on record, if realized.
Ahead of the US Department of Agriculture's weekly crop progress report due later on Monday, analysts expected the government to report the US soybean harvest as 97 percent complete.
Chicago Board of Trade December soymeal futures were up 80 cents at $308.60 per ton at 11:48 a.m. CST (1748 GMT).
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