03.28.2025
Sausage casings bulletin, March 28, 2025

Runner market commentary
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With import organic soybean meal prices remaining elevated, it’s interesting to evaluate the technicals driving the underlying cost of Indian non-GMO soybeans. You can see from the chart of Indian soybeans (non-GMO) testing the upper end of the 3-year range, while volatility has increased rapidly. Historical volatility can be measured using Bollinger bands that measure 2-standard deviations around a 20-week range (in this case). Prices continue to trend in conjunction with the upper Bollinger Bollinger bands as the difference between the Bollinger band high and the Bollinger band low expand. The difference is known as the Bollinger bandwidth, which has increased to the highest levels since February 2020, when the Indian Soybean market tumbled.
The next technical chart is the relative strength index, which measures the change in the price of Indian soybeans over the past 14-periods. The RSI…