The soymeal basis gained by as much as $4 per ton in the Indiana truck market while bids for barges delivered this month to the US Gulf Coast climbed by $3.
Seasonal maintenance downtime at some processors limited the availability of supplies, while some feed buyers also took advantage of a drop in soymeal futures on Tuesday to book orders.
However, some farmers were harvesting the earliest-maturing soybean fields of what is expected to be a record-large US crop, and soy crushing supplies were expected to swell in the coming weeks. That has weighed on both soybean bids and soymeal offers - the soymeal basis fell by $1 at two processors in Iowa.
Chicago Board of Trade October soymeal was up $3.60 per ton at $300.30 per ton at 10:41 a.m. CDT (1541 GMT), rising on technical buying and short-covering, traders said.