Kevin McNew

Articles By Kevin McNew

Mar 26, 2019

Weekly Crop Progress

Weekly Crop Progress: Rain Beneficial HRW and Dryness Helps Delta SRW USDA’s weekly crop progress reports showed that the recent rains in HRW territory continue to be beneficial for the crop. All states reported improvement in the wheat crop over the last week while the scores in Texas and Oklahoma
Mar 25, 2019

Corn Market Has a Hard Time Holding on to Friday's Rally

Chinese Corn Buy Not Fundamentally Based The corn market had a hard time holding on to its euphoric rally on Friday following the announcement of China buying 300,000 MT of U.S. corn. Given where U.S. FOB values are relative to other players (Brazil, Argentina, & Ukraine), plus the corresponding freight
Mar 22, 2019

Recent Flooding Affects Ethanol Capacity

Export Sales Announcement Private exporters reported to the U.S. Department of Agriculture export sales of 300,000 metric tons of corn for delivery to China during the 2018/2019 marketing year. Recent Flooding Shuts Approximately 13% OF U.S. Ethanol Capacity Massive flooding in the U.S. Midwest has knocked out roughly 13% of
Mar 21, 2019

China's Pork Imports May Double

China’s Pork Imports May Double to 2 MT in 2019 China's 2019 pork imports are set to double to 2 million tons (MT) as African swine fever reduces production in the world's top hog market. China has reported 113 outbreaks of the contagious disease since August 2018 though industry insiders
Mar 20, 2019

Brazil's Soy Exports Declining

Brazil’s Soy Exports Seen Declining By 17% YoY In 2019 Brazilian Ag consultant Safras & Mercado is estimating that Brazil soybean exports will decline by 17% YoY or by 14 MMT on a lower than estimated production. MTD March soybean exports have accelerated over the last week and are running
Mar 19, 2019

Crop Progress Condition Scores

Brazil To Possibly Negotiate Wheat Tariff-Free Import Quota With U.S. Brazil is considering granting an import quota of 750,000 MT of U.S. wheat per year without tariffs in exchange for other trade concessions when the U.S. and Brazil meet in Washington, D.C. this week. The 750,000 MT is about 10%
Mar 18, 2019

Chinese Hog Herd Declines

Chinese Hog Herd Declines By Estimated 16% YoY African swine flu continues to wreak havoc on the Chinese hog herd as the total size continues to contract amid rampant mortality rates. The latest herd size estimate comes from the Chinese Ministry of Agriculture and Rural Affairs showing that in February
Mar 15, 2019

Global Wheat News Continues to be Bearish for the US Producer

Germany and Iraq Wheat Production To Experience Sharp YoY Gains Germany's 2019 wheat harvest will rise by 19.4% YoY and is estimated at 24.20 MMT. Germany is the European Union’s second largest wheat producer after France. The German harvest in 2018 was sharply reduced by a drought but the mild
Mar 14, 2019

Shift in Global Export Demand and Supply Economics

France’s AgriMer Raises French Wheat Exports To 9.5 MMT French farming agency FranceAgriMer raised sharply its forecast for French soft wheat exports outside the European Union for the 2018/19 marketing year. The agency said that upside room exists as French wheat is competitively priced and has drawn late-season demand from