Industry

Market Intelligence Monthly – October 2020

October is a pivotal time for the U.S. soy industry. Building upon a strong start in September, U.S. soy exports for the 20/21 marketing year continued their momentum throughout October and are outpacing the standing banner year of 16/17. Forward purchases are at record levels, further expanding the opportunity for global customers to experience the U.S. Soy Advantage. One of our common refrains is that U.S. Soy is well-positioned to serve both domestic and international users – and that positioning begins with our farmers, who have been working tirelessly on aggressively harvesting a large crop. At the end of the month, over 85% of the U.S. harvest is complete and we are in the prime season for U.S. exports as the world’s primary supplier. In South America, planting has started, and market observers keep eyes on both how planting is progressing and the pace at which the U.S. continues to supply the global marketplace. For a deeper look into soybean market developments in October, we present U.S. Soy’s Market Intelligence Monthly for October 2020.

 

Mac Marshall
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.