US Cash Soymeal-Basis offers mixed in rail markets

CHICAGO: Spot basis offers for soymeal were mixed on Monday at US Midwest rail points on Monday, underpinned in some locations by demand from exporters and domestic feed users, brokers said.

Truck offers were mostly steady in subdued trade.

The National Oilseed Processors Association (NOPA) said its members crushed 159.2 million bushels of soybeans in June, down from 163.6 million in May, but up from the 138.1 million bushels crushed in June a year earlier.

Soymeal exports in June totaled 857,275 tons, compared with 904,941 tons exported in May and 562,684 tons in June 2017, NOPA said.

Chicago Board of Trade August soymeal futures settled up $3.10 at $329.10 a ton as soybeans closed higher, rebounding from contract lows.