US Cash Soymeal-Rail, truck market flat ahead of holiday

CHICAGO: Spot basis offers for US soymeal were unchanged at processors in both the rail and truck market on Wednesday, dealers said.

* CIF and FOB market values also were unchanged.

* Activity was slow ahead of the US Independence Day holiday on Thursday, broker in the rail market said.

* Most end users had already booked enough soymeal to last through the weekend.

* At 10:50 a.m. CDT (1550 GMT), Chicago Board of Trade August soymeal futures were up $2.50 at $308.20 a ton.

* The contract hit technical resistance at its 50-day moving average for the second day in a row.