US Cash Soymeal-Offers flat; tight supplies underpin basis

CHICAGO: Spot basis offers for US soymeal were unchanged in both the rail and truck markets on Friday, dealers said.

* Demand was light, a dealer in Indiana said.

* Most end-users had enough soymeal on hand to last them at least through the weekend.

* But supplies were limited at processors, keeping basis levels supported despite the light demand.

* At 11:07 a.m. CDT (1607 GMT), Chicago Board of Trade August soymeal futures were up 80 cents at $313.20 a ton.

* The most-active futures contract has risen for four days in a row, hitting its highest since July 1.