Industry

Market Intelligence Monthly: June 2021

With the 2021 soybean crop in the ground and the peak U.S. export window in the rearview mirror, weather markets and associated volatility start to take center stage. However, June 2021 saw market volatility come from sources beyond Mother Nature as speculation around biofuels policy coupled with monetary policy discussions drove a mid-month price tailspin before the Acreage report delivered a surprise to markets at the end of the month, spurring prices back up as the 87.56 million reported planted acres came in below market consensus. With the backdrop of supply tightness affirmed, we are entering a summer of potential high volatility where crop conditions and weather forecasts will be closely watched during the critical stages of crop development.

Starting with this month’s Market Intelligence Monthly, U.S. Soy is pleased to provide you with an additional appendix showcasing the value of international markets for the U.S. soybean complex, starting on slide 63. Thank you and enjoy the recap of a wild June.

Mac Marshall

Vice President, Market Intelligence

United Soybean Board and U.S. Soybean Export Council

Mac Marshall serves as the Vice President, Market Intelligence for the United Soybean Board (USB) and the U.S. Soybean Export Council (USSEC). In this capacity, Mac works with USB and USSEC leadership to evaluate and establish long-term strategic initiatives in support of advancing domestic and international market opportunities for the U.S. soybean industry. He also serves as an industry source of market information and analysis. Prior to joining the United Soybean Board, Mac served as global market analysis and trade lead at Bayer Crop Science, where he worked on international market access issues as part of a global agricultural policy team. Prior to Bayer’s acquisition of Monsanto, Mac worked in Monsanto’s global strategy group with a focus on commodity market analysis in support of the company’s long-term strategy setting and understanding of near-term market dynamics. Before joining Monsanto in 2014, Mac served as a staff economist at the United States Bureau of Labor Statistics with a focus on agricultural commodities, in addition to serving as the supervisory economist leading a team of economists covering service industries. He holds a B.A. in economics from Vassar College and an M.A. in applied economics from Johns Hopkins University.