US Cash Soymeal-Basis offers ease as rail logistics improve

CHICAGO: Spot basis offers for soymeal were steady to weaker in US rail markets on Wednesday as railroad logistics began to improve in some areas, delivering delayed shipments that cooled demand, merchandisers said.

Soymeal supplies remained tight in some areas including the Kansas City area, one broker said.

As of 11:43 a.m. CDT (1643 GMT), Chicago Board of Trade May soymeal futures were down 80 cents at $309.80 per short ton.

The CBOT May crush was trading near $1.02 per bushel, indicating relatively strong profits for soy processors.