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US Cash Soymeal-Offers weaker on lackluster demand

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US Cash Soymeal-Offers weaker on lackluster demand CHICAGO: Basis offers for US soymeal fell by about $1 per ton at some rail, truck and barge markets on Friday, pressured by lackluster demand and ample supplies following a record-large soybean harvest, dealers said.

* US supplies continued to lose out in the global market to cheaper Argentine soymeal.

* Domestic end users largely put off purchases in the hopes prices would decline.

* Chicago Board of Trade December soymeal futures were down $2.40 to $311.00 at 1:05 p.m. CDT (1805 GMT), but prices were

still on track to rise more than 1 percent for the week.

Copyright Reuters, 2018


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