March was an exciting month in the world of soy. As United States farmers finish preparations for planting season, harvest progresses in South America. We got our first survey-based look at what farmers intend on planting here in the United States. While the projected 87.6 million planted acres represent a 4.5 million acre increase over last season, the market was looking for even more area and prices jumped accordingly as expectations continue for balance sheets to remain tight throughout the new crop (21/22) marketing year. Turning south, soybeans are finally moving out of Brazil as March saw the second highest monthly export volume, trailing only April 2020. To learn more about soybean market developments in March, please enjoy U.S. Soy’s 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.