US Cash Soymeal-Rail offers steady to weak; truck market flat

CHICAGO: Spot basis offers for US soymeal were steady to weak in the rail market on Tuesday, with a healthy crush pace providing more than enough soymeal to meet current demand, dealers said.

Truck market offers were unchanged.

Demand for new orders on the spot market was light, with most end users holding enough supplies to meet their feeding needs, an Indiana dealer said.

Supplies were robust. Most processors were up and running after following maintenance shutdowns across the Midwest and South throughout the late spring and early summer, a mid-South broker said.

At 10:34 a.m. CDT (1534 GMT), Chicago Board of Trade August soymeal futures were up $1.20 at $307.00 a ton.