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US Cash Soymeal-Basis offers flat; down times underpin market

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By Fawad MaqsoodReuters

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

Basis levels were underpinned by scattered down times at plants around the Midwest, limiting the amount of soymeal for sale on the cash market.

Demand was steady to slightly firmer.

Some hog producers asked about prices but were reluctant to book new deals, an Indiana dealer said.

At 10:43 a.m. CDT (1543 GMT), Chicago Board of Trade soymeal futures for July delivery were down $5.30 a ton at $296.60 a ton.

Copyright Reuters, 2019

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