Planting is in the home stretch as the country as a whole got off to a quick start getting U.S. soybeans in the ground – but dryness and adverse weather in parts of the United States have also necessitated some replanting. With the U.S. Department of Agriculture (USDA) confirming expectations of tight supplies for the balance of this marketing year and likely through the next marketing year, this summer will be a pivotal weather market for new crop pricing. May saw a couple soybean shipments from Brazil land in the U.S., which isn’t unheard of – when our inventories were low in 2014, we imported even larger volumes from Brazil. And last season, Brazil looked to the U.S. for supplies when it was facing local shortages. Soybean oil prices continue to rise on both surging demand as a feedstock from the biofuels sector and overall tightness in global vegetable oil markets. For more on what happened in soy markets in May, please enjoy the U.S. Soy Market Intelligence Monthly.
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.