CHICAGO: Spot basis offers for US soymeal were flat on Thursday in relatively muted trade as brokers and livestock producers delayed deals ahead of the US Department of Agriculture’s monthly supply report due at 11 a.m. CST (1700 GMT).
Analysts polled by Reuters expected the USDA to narrowly cut its estimates for US soybean production and yields.
Chicago Board of Trade December soymeal futures were up $2.70 at $317.90 per ton at 10:43 a.m. CST, off their earlier three-week high of $318.60. Soymeal was lifted in part by unwinding of soyoil-soymeal spreads, traders said.
Source: Brecorder.com
