CHICAGO: Spot basis offers for soymeal were mostly unchanged at US rail, truck and export markets on Friday as small losses in futures enticed light buying from livestock and poultry producers, dealers said.
Cheaper soymeal offers out of top exporter Argentina continued to keep a lid on international demand for US supplies, a US export trader said.
Some US soybean processors were slashing their bids to buy soybeans from farmers due to ample crushing supplies ahead of the spring season, when many crushers will idle for a week or more for maintenance, the dealers said.
Chicago Board of Trade May soymeal futures were down $1.50 to $327.80 per ton at 10:49 a.m. CDT (1549 GMT).
The contract was on pace for a narrowly weekly decline, in what would be the fifth straight weekly loss.
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