May 8 (Reuters) – Spot basis offers for soymeal were steady
to firm at processors around the U.S. Midwest on Wednesday as
dealers tried to maintain profit margins amid rising soybean
acquisition costs.
* Demand from livestock and poultry producers remained hand
to mouth, with high prices preventing end users from booking
large shipments, a broker said.
* Current and upcoming downtime at soybean processing
facilities kept available soymeal supplies tight in some areas.
Thin profit margins and slow country movement of soybeans were
spurring downtime at some of the processors.
* On the export front, overseas buyers were showing interest
in booking nearby shipments, but the tight supplies were keeping
deals from being made, a trader said.
* Soymeal dealers continued to roll their basis offers to
the Chicago Board of Trade July contract from CBOT May, which
expires on Tuesday.
* At 11:20 a.m. CDT (1620 GMT) Chicago Board of Trade May
soymeal was up $3.10 at $419.40 per ton while July
soymeal was up $2.10 at $405.40 per ton. CBOT July
soybeans were up 2-1/2 cents per bushel at $13.84-3/4 per
bushel.
—
Spot rail soymeal (dlrs/ton basis CBOT, 47.5 pct protein):
Chicago UNQ NC
Decatur, Ill. + 40.00 + N NC
Morristown, Ind. + 43.00 + N NC
Decatur, Ala. + 55.00 + N NC
Kansas City, Mo. + 24.00 + K UNC
Fostoria, Ohio + 43.00 + N NC
Spot truck soymeal basis (dlrs per ton):
44 pct 47.5 pct change
Frankfort, Ind. UNQ + 44.00 + N UP 2
Claypool, Ind. UNQ + 50.00 + N NC
Lafayette, Ind. UNQ + 25.00 + K UNC
Decatur, Ind. UNQ + 32.00 + K UNC
Cedar Rapids, Ia. UNQ + 25.00 + K UNC
Iowa Falls, Ia. UNQ + 17.00 + K UNC
Sioux City, Ia. UNQ + 15.00 + K UNC
Mankato, Minn. UNQ + 20.00 + N UNC
Kansas City, Mo. UNQ + 30.00 + N NC
CIF (dlrs/ton basis CBOT, 47.5 pct protein)
BIDS OFFERS
CIF US Gulf May + 45.00 + N + 43.00 + K UNC/UNC
CIF US Gulf June + 45.00 + N UNQ UNC/UNC
CIF US Gulf July UNQ UNQ UNC/UNC
CIF US Gulf Aug-Sep UNQ UNQ UNC/UNC
CIF US Gulf OND UNQ + 36.00 + Z UNC/UNC
FOB
FOB US Gulf May UNQ UNQ UNC/UNC
FOB US Gulf June UNQ + 47.00 + N UNC/UNC
FOB US Gulf July UNQ + 47.00 + N UNC/UNC
FOB US Gulf Aug-Sep UNQ + 60.00 + Q UNC/UNC
FOB US Gulf OND UNQ + 40.00 + Z UNC/UNC
Spot crude soyoil (cents/lb basis CBOT):
Central Illinois rail + 0.25 + N UNC
Note: K = May, N = July, Z = December
O = Option price, UNQ = Unquoted,
NC = No comparison, FH = First half, LH = Last half
LINKS:
* NOPA monthly soy crush
* U.S. soy processors downtime schedule
* CBOT soymeal futures prices
* Reuters oilseeds news stories
* Brazilian FOB export prices
* Argentine grain/oilseed prices
(Reporting by Mark Weinraub)
