US Cash Soymeal-Basis offers flat in thin trading as futures gain

CHICAGO: Spot basis offers for soymeal were flat at US rail and truck markets on Monday in thin trading as livestock and poultry producers delayed purchases and assessed their feed needs for later this week, dealers said.

A futures trader in Chicago said increased domestic demand for soymeal supported futures.

A dealer in Iowa noted minimal soymeal buying as futures touched the highest levels in nearly three weeks.

Chicago Board of Trade March soymeal futures were up $2.80 to $344.90 per ton at 11:04 a.m. CST (1704 GMT), while CBOT soybeans were flat and soyoil declined 1.1 percent.