US Cash Soymeal — Basis offers steady in quiet trade

CHICAGO, Oct 12 (Reuters) — Cash basis offers for soymeal were steady at rail and truck terminals in the US Midwest on Monday while demand from exporters in the US Gulf increased. The ongoing soybean harvest has replenished soybean crushers with fresh material. The influx of new-crop soybeans into crushing sites has helped to ease a soymeal shortfall after heavy Midwest rains last month delayed the start of the harvest and sent some processors scrambling for supplies. CIF bids and offers ticked higher and FOB offers also rose. On the Chicago Board of Trade, December soymeal futures settled $3.10 higher to $368.70 per short ton. CBOT November soybeans ended 4-1/4 cents lower to $12.87-3/4 per bushel. Spot rail soymeal (dlrs/ton basis CBOT, 47.5% protein): Curr Net ent Change Offe r Chicago +12 + Z UNC Decatur, +12 + Z UNC Illinois Morristown, +12 + Z UNC Indiana Decatur, UNQ UNC Alabama Kansas City, +30 + Z UNC Missouri Fostoria, Ohio +12 + Z UNC Spot truck soymeal basis (dlrs per ton): Frankfort, UNQ + UNC Indiana Claypool, +40 + Z UNC Indiana Lafayette, +40 + Z UNC Indiana Decatur, +20 + Z UNC Indiana Cedar Rapids, +20 + Z UNC Iowa Iowa Falls, +12 + Z UNC Iowa Sioux City, +15 + Z