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US spot soymeal basis offers were mostly firm at rail terminals on March 8, while truck markets were mostly steady. Soymeal crushing remains strong, though most domestic meal buyers had already bought through the end of March.
CBOT March soymeal futures were up $2.20 at $422.20 a short ton.
Firm cash basis and higher futures reflect strong crush-driven supply and steady domestic demand, which supports soymeal prices for feed buyers.
brecorder.comReutersMar 8, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
