CHICAGO: Soymeal spot basis offers were narrowly mixed in US domestic and export markets on Monday, supported in a few areas by crushers closing down for routine spring maintenance, dealers said.
Chicago Board of Trade May soymeal futures settled down 80 cents at $307.60 per short ton after dipping to $307.00, the contract's lowest since Oct. 19.
CBOT soy futures were still reeling after the US Department of Agriculture forecast on Friday that US farmers would plant a record-high 89.5 million acres (36.2 million hectares) of soybeans in 2017, above trade expectations.
After the CBOT close, the USDA said US soy processors crushed 4.530 million short tons, or 150.985 million bushels, of soybeans in February, below an average of trade expectations for 151.9 million.
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