CASH SOYMEAL BASIS STEADY IN INCREASED TRADE
Midwest cash soybean meal basis values
were steady, with more active trade beginning to emerge, soy
product dealers said.
    With crush margins at unfavorable levels, processors in
Indiana, South Carolina and Tennessee are cutting back
operations and preparing to take downtime, they said.
    Demand from the eastern market was steady following the
increase that emerged after the weekend snowstorm, while the
export market appeared to be cooling off, they said.
    Soyoil trade continued in the doldrums, with offers
unchanged, but could turn active if crushers continue taking
substantial downtime, dealers said.
    Spot Illinois rail 44 pct protein soybean meal was offered
at 4.00 dlrs over May, with Decatur unrestricted at 6.00 over,
and eastern delivery 5.00 over, all unchanged.
    Prompt Illinois rail 48 pct protein soymeal was offered at
20.00 over, unchanged, with Decatur unrestricted at 21.00 over,
up 1.00. Eastern delivery was quoted at 18.00 over, unchanged.
    Truck-delivered soymeal also held steady, with Danville,
Illinois quoted at 8.00 and 24.00 dlrs over for 44 and 48 pct
respectively.
    Spot central Illinois soybean oil was quoted at 0.65 to
0.70 cent per lb under May nominal, unchanged.
 Reuter
