CHICAGO: Spot basis offers for soymeal were mostly steady in the US Midwest on Tuesday, but values had a slightly softer feel in some locations as supplies increased following scattered downtime at crushing plants in recent weeks, feed ingredient dealers said.
Farmer soybean sales remained thin, a factor that raised processors' costs for replacement soybeans and pressured crush margins.
However, margins were still profitable, with the Chicago Board of Trade (CBOT) August board crush trading near $1 per bushel.
As of noon CDT (1700 GMT), CBOT August soymeal futures were down $3.20 at $308.40 per short ton.
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