WASDE Supply and Demand Update: August 2020

Mac Marshall

Mac Marshall

United Soybean Board and U.S. Soybean Export Council

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.