US Cash Soymeal-Offers hold steady as buyers stay quiet

30 Nov, 2012

 

* Some light business emerged as nearby December soymeal futures pulled back from a 2-1/2 week high reached on Thursday on the Chicago Board of Trade," a Midwest trader said. However, purchases were "nothing big," he said.

 

* Cash crush margins remain strong, supported in part by recent export demand for US soyoil, traders said. Soyoil and soymeal are byproducts of crushing soybeans.

 

* Traders continue to monitor low water levels on the Mississippi River that is likely to restrict the flow of barges carrying farm products to the US Gulf next month.

 

* Cargill Inc's barge company Cargo Carriers said Friday that it was limiting drafts on northbound barges on the Mississippi River to 8 feet due to low water on the drought-sapped river and will soon impose similar curbs on southbound vessels.

 

* As of 1:45 p.m. CST (1945 GMT), CBOT December soymeal was down 0.6 percent at $440 a ton, and most-active January soymeal was down 0.7 percent at $432.70 a ton.

 

Copyright Reuters, 2012

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