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US Cash Soymeal-Rail market weak; truck market mostly unchanged

Wed July 10 2019

 

Spot basis offers for US soymeal weakened in the rail market on Thursday.

 

The truck market was mostly steady, but basis offers fell by $5 per ton in Frankfort, Indiana.

 

The CIF and FOB markets were unchanged.

 

Demand was light, an Iowa dealer said.

 

Most end users had enough supplies to meet their immediate feeding needs.

 

In the rail market, logistics remained difficult due to problems with tracks in some areas, slowing deliveries of previously booked orders, broker said.

 

At 11:05 a.m. CDT (1605 GMT), Chicago Board of Trade August soymeal futures were up 60 cents at $309.80 a ton.

 

Source: Reuters

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