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.
