Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Companies

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors

An April Update on Global Market Shifts Affecting U.S. Soy

04/08/2021 | 05:18pm EDT

Kevin McNew, Chief Economist for the Farmers Business Network (FBN), is joining Mac Marshall, Vice President of Market Intelligence for the U.S. Soybean Export Council (USSEC) and United Soybean Board (USB), and Jim Sutter, CEO of USSEC, Sunday, April 11. The group will be dissecting the United States Department of Agriculture's (USDA) April World Agricultural Supply and Demand Estimates (WASDE) report.

WASDE serves as an indicator of where supply and demand, and ultimately the price of soybeans may go. USSEC hosts a webcast each month to provide an exclusive update to stakeholders. Marshall says this month's WASDE comes at an interesting time between two important reports, last week's planting intentions and stocks report and the May WASDE's first look at new crop balance sheets.

'That's not to say there aren't interesting things to look for in this particular report,' Marshall says. 'The first thing is looking at the ending stocks figures for both the U.S. and the world. The U.S. was maintained last month. We'll see if there's any movement on that. What is that carryout going to be on August 31? We're at the tightest stocks in seven years, so do we potentially see that getting any tighter between now and the end of the current marketing year?'

Given the timing of this report in worldwide crop production cycles, Marshall also has his eye on international updates, specifically in South America.

'There was an upward revision to Brazil last month as the USDA took it up by a million metric tons,' he says. 'We're looking at a record crop size of 134 metric tons. That crop is now about 80 percent harvested, so there might not be an adjustment in volume there, but there may be in Argentina where harvest has not yet kicked off, at least as of the tail end of last week. This is at a point in time when it is usually eight to ten percent complete.'

Continuous downward revisions have been reported due to Argentina's drought throughout the planting and growing season. Any adjustment there will affect global carryout, as well.

In addition to updates around the soy complex, Marshall is looking at the animal balance sheets this month.

Marshall says April's webinar guest brings an exciting perspective to the webcast.

'It's always exciting when you have an emerging business model being in a forum for direct engagement, and Farmer's Business Network has certainly been making a lot of news over the last five years,' he explains. 'The first thing I saw when I opened up the planting report last week was 87.6 million acres and I said, 'Boy, that looks like a familiar number.' That was the FBN number for soybeans from their survey that had been released a couple weeks prior. Really excited to talk to Chief Economist Kevin McNew both about what they've done in terms of their survey and their views on markets going forward.'

This month, regular attendees of USSEC's WASDE webinar may notice a schedule change. Though typically hosted the evening of the report's release, April's webcast will be hosted the Sunday after.

'This is to balance the needs of our domestic and international stakeholders,' Marshall says. 'It allows our domestic audience to go into the week with some additional perspectives on markets and it allows for our international audience, particularly in Asia, to hit the trading week running, getting to hear a couple perspectives on the WASDE and lingering impacts of last week's report.' You don't want to miss this exclusive update April 11, 7:00 - 7:45 p.m. CT. Register today.

To see last month's WASDE webcast key takeaways, take a look at March 2021 WASDE: Record Export Projections for Soy Maintained.

Disclaimer

USSEC - U.S. Soybean Export Council published this content on 08 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 April 2021 21:17:13 UTC.


© Publicnow 2021
Latest news "Companies"
03:17pHUT 8 MINING  : Majority Voting Policy
PU
03:17pSHAREHOLDER ALERT : Rigrodsky Law, P.A. Announces Investigation of Cadence Bancorporation Merger
GL
03:15pSAUDI ARABIAN OIL  : Oil rises on U.S. vaccine rollout, Middle East tension
RE
03:15pLGBTQ LOYALTY HOLDINGS, INC.  : Unregistered Sale of Equity Securities, Financial Statements and Exhibits (form 8-K)
AQ
03:14pDGAP-ADHOC : Eckert & Ziegler Receives Technetium Generator Licenses for Brazil
DJ
03:14pSHAREHOLDER ALERT : Lowey Dannenberg, P.C., Investigates Claims on Behalf of Investors of Vroom Inc. (VRM) and Encourages Investors With More Than $300,000 in Losses to Contact the Firm
GL
03:13pEXCLUSIVE : Goldman risk group examines 2021 market events for lessons -sources
RE
03:13pGM marketing spend will return to normal levels post pandemic
RE
03:13pWorld Bank Provides US$20 Million for Saint Vincent and the Grenadines' Response to La Soufrière Eruption
PU
03:13pAPRIL 9, 2021 – TOWARD A RESILIENT RECOVERY : My reflections on the World Bank Group's Spring Meetings
PU
Latest news "Companies"