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Spot soymeal supplies were scarce in portions of the eastern Midwest as rainy weather slowed the pace of the soybean harvest. A processor in Claypool, Indiana, pulled its truck offers due to a lack of available soymeal.
Elsewhere, the harvest continued and basis offers fell by $3 to $10 per ton as dealers rolled their offers to the CBOT December contract, which was trading at a premium of only about $2 to the October contract.
CBOT December soymeal settled down $2.10 at $306.30 per ton, while CBOT October soymeal ended down $1.40 at $304.50.
The CME Group reported 14 deliveries against CBOT October soymeal futures and two October soyoil deliveries.