Markets
US Cash Soymeal-Rail offers firm in Midwest, South
CHICAGO: Spot basis offers for US soymeal delivered by rail firmed slightly in the Midwest and South on Monday
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Offers for rail delivery weakened in the Kansas City market, with a broker in that area saying demand was routine.
At truck market processors, offers were mostly flat, although the basis rose by $2 per ton in Lafayette, Indiana.
Most end users were reluctant to place big orders, keeping the basis from rallying even with the maintenance shutdowns.
At 10:51 a.m. CDT (1551 GMT), Chicago Board of Trade May soymeal futures were down $3.70 a ton at $313.80. Prices hit their highest level since March 24 during the overnight trading session.