FOMC statement: Fed to begin slowing pace of balance sheet reduction on 1 April
The Federal Reserve will begin to slow the pace of balance sheet reduction on 1 April, according to the Fed's FOMC statement.
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European soybean meal hits eight-day high, slow US harvest provides support
(1) Soybean meal prices in the European feed market rose on Tuesday, following gains in soybean and soybean meal futures on the Chicago Board of Trade. Concerns about delayed soybean supplies were triggered by slower-than-average US harvest progress and wetter-than-normal soil in some production areas. (2) According to institutional records, the EU high-protein soybean meal FOB Rotterdam December delivery price on October 6 increased by about $7/ton compared to the previous trading day, reaching the highest level in about eight trading days (since September 25). (3) South American soybean meal prices were up as much as $9/ton compared to Monday; specifically, Brazilian high-protein soybean meal CIF Rotterdam September delivery price increased by about $9/ton from Monday. (4) Argentine or other origins’ high-protein soybean meal CIF Rotterdam October delivery increased by about $7/ton from Monday. (5) EU rapeseed meal prices fluctuated between down about €3/ton and up about €3/ton compared to Monday, reflecting technical correction.
Marvell Technology expects total revenue to reach 20 billions USD in fiscal year 2028.
Marvell Technology Group (MRVL.US) expects its total revenue to reach 20 billions USD by fiscal year 2028.
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