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US Cash Soymeal-Rail, truck offers flat; idle holiday activity

US Cash Soymeal-Rail, truck offers flat; idle holiday activity

Thu Dec 21 2017

 

US soymeal rail and truck market spot basis offers remained unchanged on Thursday in uneventful fashion in advance of the Christmas holiday, dealers said.

 

“People don’t really care. Most of them have gotten things done that they want to get done,” a merchant said.

 

Chicago Board of Trade (CBOT) soybean meal futures felt pressure from weaker soybean contracts on tepid weekly export data and rains in Argentina’s crop-growing regions.

 

On Thursday the US Department of Agriculture reported US soybean export sales for the week ending Dec. 14 at 1,742,900 tons for 2017/18 shipment. It was within the range of trade forecasts.

 

At 11:18 a.m. CST (1718 GMT), CBOT January soymeal futures were down $1.00 at $314.70 a ton.

 

Source: Reuters

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