USSEC will host a webinar following the USDA’s release of its January World Agricultural Supply and Demand Estimates.
In times of tight supply, market awareness is particularly critical for traders, growers, and soy processors around the globe. The U.S. Department of Agriculture’s (USDA) World Agricultural and Supply Demand Estimates (WASDE) report gives a comprehensive supply and demand outlook. To provide a better understanding of the report and its implications for U.S. Soy, USSEC will host a webinar on Tuesday, January 12 at 7 p.m. Central Time, following the release of the January WASDE.
Mac Marshall, vice president of market intelligence for the United Soybean Board (USB) and USSEC, says he’ll primarily be looking for updates on the supply side of the balance sheet for both the U.S. and South America. “Continued concerns about dryness impacting Argentina and Brazil’s crop sizes have helped to fuel the continued price rally over the last several months,” he explains. “USDA has issued downward revisions to Argentina’s production in the last couple of WASDEs – will that trend continue in January and will USDA make any updates to its estimate of the Brazilian crop size?”
“In the United States,” Marshall continues, “the January WASDE is when we see a final reconciliation of the 2020 U.S. crop size, integrating data from the Farm Service Agency (FSA) on prevented plantings. Any changes to 2020 U.S. production would most likely change the projected ending stocks figure, which is already very tight.”
“Over the last several months we’ve seen USDA bring down the U.S. crop size and in turn, projected ending stocks have gotten tighter and tighter,” Marshall says. “The main things I will be looking for this month are any adjustments to the crop size estimates coming out of Brazil and Argentina.” Marshall says he’ll also be looking at the U.S. balance sheets to see if the strong exports seen through the first quarter of the marketing year translate into upward revisions to U.S. exports and potentially further tightness in projected ending stocks.
Marshall will be joined by Jim Sutter, USSEC CEO, and Nagaraj Meda, Managing Director, TransGraph Consulting.
Meda is a pioneer in risk management and hedge models; TransGraph Consulting, the company he founded, is a focused niche player in currencies, commodities, and deliverables. Meda also has hands-on experience in commodity futures and is recognized as an authority in forecasting using technical analysis.
Registration for the no-cost webinar can be completed online.
USSEC hosts a monthly U.S. Soy WASDE update to provide an analysis of how the USDA has updated the global supply and demand projections for soybeans. Previous WASDE webinars can be found at ussec.org.
- Virtual Events