US Cash Soymeal-Rail offers firm; Trucks mostly steady
- Soymeal crushing remains strong, one mid-south dealer said, driving strong demand for soybean sales across the US Midwest, though most domestic meal buyers have made purchases to last through the end of March.
- Chicago Board of Trade March soymeal futures were up $2.20 at $422.20 a ton. The May contract was $2.30 higher at $420.50 a ton.
CHICAGO: Spot basis offers for US soymeal were mostly firm at rail markets on Monday, dealers said.
Truck markets were mostly quiet, though one Kansas City, Missouri, location strengthened its offer.
While most rail terminals firmed, the basis at one Kansas City, Missouri, rail location softened.
Soymeal crushing remains strong, one mid-south dealer said, driving strong demand for soybean sales across the US Midwest, though most domestic meal buyers have made purchases to last through the end of March.
Demand for soymeal exports has softened at the US Gulf, that dealer added, though basis offers and bids for soymeal at the US Gulf and loaded onto barges upriver remain unchanged.
At 10:03 a.m. CST (1603 GMT) Chicago Board of Trade March soymeal futures were up $2.20 at $422.20 a ton. The May contract was $2.30 higher at $420.50 a ton.
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