Industry

WASDE Supply and Demand Update: August 2020

The U.S. Department of Agriculture’s (USDA) monthly World Agricultural Supply and Demand Estimates (WASDE) report helps to provide a common, timely, and unbiased understanding of current agricultural conditions with a globally comprehensive look at key agricultural markets.

The U.S. Soybean Export Council’s (USSEC) webcast aims to provide a deep dive each month into the most recent WASDE. This month, USSEC CEO Jim Sutter, USSEC CEO Jim Sutter; Ken Eriksen, Senior Vice President, IHS Markit; Arlan Suderman, Chief Commodities Economist, StoneX Group Inc.; and USSEC Regional Director – Americas Carlos Salinas joined me to provide perspective on the August 2020 WASDE. To watch U.S. Soy’s August 2020 WASDE Update, register here to access the recording.

During this virtual event, I presented the following slides to offer insight into the U.S. soy complex for the current (19/20) and upcoming (20/21) marketing years. As illustrated in the slides, overall demand for U.S. Soy remains strong both domestically and internationally. Exports and their continued growth are critical for the U.S. soy complex; currently, nearly 60 percent of U.S. soy products are exported. Long-term demand growth continues at a strong pace and U.S. Soy is well-positioned to serve the global market.

 

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.