date:Dec 25, 2012
posting a 1.5 cent gain.
For soybeans, slower overall export demand along with news of Chinese export cancellations put pressure on futures markets, and helped slow basis growth. So far in December, US average soy basis is up 8 cents, but last week basis levels were up 2 cents.
Soy processors were actually lower on the week as signs of less export business and significantly lower soymeal prices start to cut into crush margins. At the Gulf, export basis was off 8 cents.