US Cash Soymeal — Basis offers steady to higher on tight spot supplies

CHICAGO, Sept 18 (Reuters) — Spot basis offers for truck- and rail-delivered soymeal were steady to higher around the US Midwest on Friday amid tight supplies as harvest delays have slowed crushing in western markets, dealers said. Some crushers were not posting offers on Friday due to tight spot supplies, a dealer said. Rainy weather has delayed early harvesting in the western Midwest this week, and forecasts are calling for further rains through next week. The delays are depriving some processors of needed crushing supplies and limiting the volume of meal available in the spot market, dealers said. High prices have limited buyer demand this week as soymeal futures on the Chicago Board of Trade rose to two-year highs earlier in the week. CBOT October futures were down $15.10 at midday on Friday to $353.60 per short ton, while December futures were down $13.40 to $357.90 per short ton. Both contracts posted life-of-contract highs on Thursday. Spot rail soymeal (dlrs/ton basis CBOT, 47.5% protein): Curren Net t Offer chang e Chicago +0 + Z NC Decatur, Illinois +0 + Z NC Morristown, Indiana +0 + Z NC Decatur, Alabama UNQ UNC Kansas City, Missouri UNQ NC Fostoria, Ohio +0 + Z NC Spot