Markets

US Cash Soymeal-Offers steady, cash prices above buyers' target

Published Updated

* Most livestock, poultry and dairy producers have cash prices targets between $320 to $330 per ton. Even with steady to lower CBOT soymeal futures values cash prices remain higher than buyers are willing to pay, dealers said.

* Soymeal March futures traded up 0.03 percent on Monday at $358.70 per ton. March soymeal saw a recent high of $364 per ton on March 8.

* A handful of producers bought light loads of nearby supply to fill only immediate needs, a dealer in western Indiana said.

* End-users are waiting for lower CBOT soymeal futures before buying forward supplies of the animal feed, dealers said.

* A rail offer firmed by 5 cents in Kansas City.

* A central Illinois soyoil offer was 1/4 cent weaker as demand remained lackluster, a dealer said.

* Soybean spot basis bids climbed 7 cents at an elevator in Cincinnati on Monday while bids were firm on the Mississippi River but weak on the Illinois River. Barge freight was steady on Midwest waterways.

* CBOT May soymeal was flat at $362.70 per ton as of 11:04 a.m. CDT (1631 GMT).

* CBOT March board soy crush fell 2-3/4 cents to 47-3/4 cents per bushel on Monday.

Copyright Reuters, 2012