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Markets

US Cash Soymeal-Offers flat; demand light ahead of holiday week

Published Updated

CHICAGO: Spot basis offers for US soymeal were mostly unchanged in both the rail and truck markets on Friday, dealers said.

* End-user demand was light, as most livestock and poultry producers have booked enough orders to last them through Christmas, a dealer in the Kansas City market said.

* Although the basis was mostly steady, offers rose by $2 per ton in Mankato, Minnesota.

* On the export front, CIF bids for spot loadings were unchanged.

* Traders reported good nearby demand for US supplies from overseas buyers but said that export interest shifted to South America for deferred periods.

* At 8:45 a.m. CST (1445 GMT), Chicago Board of Trade January soymeal futures were down 10 cents at $307.60 a ton. The March contract was 20 cents lower at $311.80.

Copyright Reuters, 2018
 

 

 

 

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