WASDE Supply and Demand Update: September 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; Nagaraj Meda, Managing Director, TransGraph Consulting; and USSEC Regional Director – South Asia Kevin Roepke joined me to provide perspective on the August 2020 WASDE. To watch U.S. Soy’s September 2020 WASDE Update, register here  to access the recording.

There tends to be even greater interest in the WASDE report during certain times of year, particularly approaching harvest when all eyes are focused on the U.S. and crop development. During this month’s 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.



Call Out Quotes:

“With this kind of upward revision, it clearly shows the demand potential that we have [in South Asia].”

-Nagaraj Meda, Managing Director, TransGraph Consulting


“Speaking broadly in South Asia, we’re seeing tremendous growth in Pakistan and Bangladesh, largely predicated upon the fact that we all know very, very well that rising income usually tends to lead to greater animal protein consumption and so that tends to bode very well for . . .the soy business.”

-Kevin Roepke, Regional Director – South Asia, USSEC


Breaking down the key revisions to the soy complex for September


Nagaraj Meda, Managing Director, TransGraph Consulting provided his insight on the September WASDE


This month’s Q & A panel featured Meda and USSEC Regional Director – South Asia Kevin Roepke
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.