WASDE Supply and Demand Update: July 2020

By - Tuesday, July 14, 2020

As USSEC continues to connect with key global audiences via virtual events during the COVID-19 pandemic, a new webcast aims to provide a deep dive each month into the most recent World Agricultural Supply and Demand Estimates (WASDE) from the U.S. Department of Agriculture (USDA).The WASDE report helps to provide a common, timely, and unbiased understanding of current agricultural conditions with a globally comprehensive look at key agricultural markets.

Each month, United Soybean Board (USB) VP- Market Intelligence Mac Marshall will host this webinar as he breaks down the report for customers of U.S. Soy. USSEC CEO Jim Sutter, Foreign Agriculture Service (FAS) Administrator Ken Isley, RJ O’Brien Head of Market Insight Randy Mittelstaedt, and USSEC Regional Director – Greater China Zhang Xiaoping joined Marshall to provide perspective on the July 2020 WASDE.

During this digital event, Marshall offered insight into the U.S. soy complex for the current (19/20) and upcoming (20/21) marketing years to 415 participants from 56 countries who viewed the event live. As illustrated in his presentation, 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.

For more details on this presentation, please click here.

USSEC CEO Jim Sutter: “The U.S. is a great supplier of choice.”

 

FAS Administrator Ken Isley stressed that U.S. Soy values relationships with its customers and will continue to build them

 

USB VP – Market Intelligence Mac Marshall says long-term demand growth for soy continues at a strong pace

 

Randy Mittelstaedt, Head of Market Insight for RJ O’Brien, says the market is forming to the new crop situation

 

Marshall, MIttelstaedt, and Zhang took part in a Q & A panel