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Wisconsin Soybean Marketing Board Opens Requests for Proposals

The Wisconsin Soybean Marketing Board (WSMB) is now accepting research requests for proposals (RFP) for fiscal year 2024. To submit a proposal, email the proposal cover sheet, full project proposal and a budget template to admin@wisoy.org no later than 5 p.m. CST on May 15, 2023.

The aim of this RFP is to generate both new vendor relationships and viable project/campaign opportunities. WSMB is seeking projects in the following core research areas:

  • Market expansion of commodity soybeans and soybean meal into both new and existing overseas markets;
  • Promotion of Wisconsin ports and other facilities available for exporting bulk soybeans;
  • Promotion of Wisconsin’s growing identity preserved soybean sector;
  • Promotion of Wisconsin’s biodiesel/renewable diesel use;
  • Market assessment of the current and potential use of soy-based products by state and federal fleets, cities and municipalities, private companies, fleets, consumer and farmers;
  • And assess and identify ways to expand soybean protein use in the animal feeds market.
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U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

Video: U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again


The market was hoping for a US-China trade deal, but we got a trade “truce” for now from the keenly awaited Trump-Xi meeting at the APEC Summit.
China commits to minimum purchase commitments of 12 MMT of U.S. soybeans during the “current season” and a minimum of 25 MMT annually through 2028.
U.S. Treasury Sec Bessent said other Asian countries have agreed to buy additional 19 MMT of US soybean.
Soybean futures trading above $11 now- they normally tend to rally to $12.
As expected, US Fed cuts interest rates by -0.25% again in October to 3.75%–4.00%. No further cuts promised for this year but trade looking out to the Dec FOMC.
The Bank of Canada cut interest rates to 2.25% but raised concern over trade war damage.
Soy meal futures, remarkably, have had 14 consecutive higher close sessions. A bull market in soybeans is a bull market in soy meal!
Cattle futures lower as funds unwind out of cattle for now due to Trump headlines and objective to lower beef prices.
All major stock indices climb to new record highs. It was Mag 7 reporting week, which had mixed results. But we now have the first $5 trillion company in Nvidia!