In January, the U.S. Soybean Export Council (USSEC) opened its doors to the Soy Suite, where USSEC CEO Jim Sutter discusses industry developments that impact the future of global food. Leaders keep a watchful eye on happenings around the world, from macro-economics to peripheral businesses and supply chains. They learn from other leaders, and the Soy-Suite is one place such discussions happen.
Sutter’s conversation with Cargill’s head of corporate trading and executive vice president for the agricultural supply chain Joe Stone on January 6, 2021, focused on soybean prices. Factors like China’s growing demand and weather in South America are influencing those prices.
“If the function of the market today is to continue to ration, then we probably have to go a little bit higher than where we are today,” Stone said. “But that could be a very, very choppy ride depending on the weather we have in Argentina.”
He also focused on climate change and the role of agriculture, including soybean production, in sustainability.
“We believe that ag is part of ‘the how,’ that ag is part of the solution,” he said. “There’s a tremendous amount of potential for what we can do in agriculture to help mitigate and fight climate change.”