CHICAGO: Spot basis offers for soymeal in the US Midwest were steady on Wednesday as futures snapped back from recent lows, helped by short-covering a higher soybean contracts, said dealers.
Chicago Board of Trade soybeans shrugged off new contract lows, with buying before the National Oilseed Processors Association’s monthly soy crush report on Wednesday at 11 a.m. CST (1700 GMT).
Chicago Board of Trade December soymeal futures at 10:53 a.m. CST (1753 GMT) were up $2.40 at $312.70 per ton.
Source: Brecorder.com
