Special Edition Update on May’s Market Shifts Affecting U.S. Soy
- Virtual Events
Spring marks an important time of year, both in planting season on U.S. farms and in shifting global markets. This month’s special edition of the U.S. Soybean Export Council’s (USSEC) U.S. Soy World Agricultural Supply and Demand Estimates (WASDE) Update is diving deep into both.
WASDE serves as an indicator of where supply and demand, and ultimately the price of soybeans may go.Mac Marshall, Vice President of Market Intelligence for USSEC and United Soybean Board (USB), hosts a webcast each month to provide an exclusive update to stakeholders. He says the May WASDE comes at an important time.
“May is an exciting month for the WASDE, particularly in the soy and corn complex,” Marshall says. “We get the first look at the balance sheets for the new crop marketing year. It won’t be as interesting on the production side for the U.S. because it will be anchored to the expected plantings report.”
He is interested to take a look at how the U.S. Department of Agriculture (USDA) will build its export forecast for this year, at a time when farmers are already forward contracting a lot of soybeans. Marshall also has his eye on soy oil in the renewable fuels space.
“USDA is implementing changes in the balance sheet that don’t just break out biodiesel, but really look at soybean oil contribution to biofuels as a whole,” he explains.
Marshall says China is top of mind internationally, both in looking at the pace of swine herd rebuild and the feed equation.
Each month, he invites a market analyst to join the conversation. Arlan Suderman, Chief Commodities Economist for StoneX Group Inc., will be featured in May. Suderman oversees the company’s commodity market intelligence efforts and provides unique market insight on global macro-economic trends, as well as their implications for the commodity markets.
In addition to Suderman, grower leaders Dan Farney, Chairman of the United Soybean Board (USB), and Kevin Scott, President of the American Soybean Association (ASA), are joining for a special edition of the U.S. Soy WASDE Update.
“They will be giving our viewers some perspective on what’s been going on with planting, how their fields look and how things are progressing” Marshall says. “We’ll hear an updateeast of the Mississippi from Dan and west of the Mississippi from Kevin. So, in addition to the normal set of number rundowns, market analysis and commentary, we’ll also be hearing directly from where it all starts: our farmers.”
You don’t want to miss this special edition of the WASDE Update May 12, 7:00 – 8:00 p.m. CT. Register today.
To see last month’s WASDE webcast key takeaways, take a look at April 2021 WASDE: Soy Inventories Maintained, but Tight.