US Cash Soymeal-Offers steady-higher as soybean basis firms

CHICAGO: Basis offers for truck- and rail-delivered US soymeal were mostly steady to higher on Wednesday as rising costs for soybeans lifted asking prices for the animal feed, dealers said.

* Soybean basis values have climbed as the Midwest harvest is nearing completion and new sales of beans to processors have slowed. Crushers have lifted soymeal basis offers in response to preserve their processing margins.

* The National Oilseed Processors Association (NOPA) is due to release its monthly crush report on Thursday. Analysts surveyed by Reuters, on average, expect the October crush at 170.026 million bushels.

* Chicago Board of Trade December soymeal futures were 50 cents higher at $304.40 per ton at 11:33 a.m. CST (1733 GMT).