U.S. Soy Production Coming into Focus
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The supply picture for soy will come into greater focus in August. The next World Agricultural Supply and Demand Estimate (WASDE) report, published by the U.S. Department of Agriculture Aug. 12, will offer the first survey-based yield analysis of 2021.
Previous USDA reports have estimated tight U.S. supplies for soy. This month’s report will provide an eyes-on look into 2021 production.
Mac Marshall, Vice President for Market Intelligence for the United Soybean Board and U.S. Soybean Export Council, will add his insights into the August report during his U.S. Soy WASDE Update at 7 p.m., Aug. 12. Register here. Marshall will be joined by Arlan Suderman, chief commodities economist for StoneX Group.
“The August WASDE report is one of the more anticipated of the year, for it is the first one of the growing season for USDA to begin adjusting its U.S. production estimates,” Suderman said. “That sets the tone for crop size and the supply side of the balance sheet. The August report tends to set the tone for the markets heading into harvest.”
An industry veteran, Suderman has analyzed the commodity markets to provide the foundation for strategic decision-making and tactical market moves by identifying the global trends, both agricultural and external, that are likely to shape the markets. Before joining StoneX, he served as senior market analyst for Water Street Solutions, researching domestic and global factors impacting supply and demand and price projections for corn, soybeans, wheat, cattle and hogs.
Agricultural commodity traders, farmers, processors, retailers, consumers and many others use WASDE to take action and position themselves or make future plans based on the current global supply and demand situation.