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WHEAT

- Apr 13 - Japan seeks 126,405 MT of food wheat for May-July shipments:

  • 13,910 MT of western white US wheat;
  • 19,190 MT of hard red winter US wheat;
  • 34,995 MT of dark northern spring US wheat;
  • 24,190 MT of Canadian western red spring wheat;
  • 34,120 MT of Australian standard white wheat

- Apr 12 - Japan bought 15,939 MT of feed wheat for September 29 arrival via SBS-tender. New SBS tender for 120,000 MT of feed wheat and 200,000 MT of feed barley will be held on Apr 19

- Apr 10 - The lowest offer in Iraq’s tender for 50,000 MT of hard wheat came in at 250 $/mt c&f for Russian wheat (origin not permitted under the tender terms). The tender had requested wheat sourced only from the US, Canada or Australia. Other offers: 258.17-268.83 $/mt c&f free out for US wheat; 290.63 $/mt c&f free out for Canadian wheat; 320 $/mt c&f free out for Australian wheat; and optional US or Australian wheat was offered at 263 $/mt c&f liner out

- Apr 10 - Argentina registered for export 26,125 MT of wheat and 6,831 MT of wheat flour

- Apr 7 - South Korea's Major Feedmill Group (MFG) bought 65,000 MT of optional-origin feed wheat at about 188 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for September 25 arrival

- South Korea's Feed Leaders' Committee (FLC) in a private deal last week bought 63,000 MT of optional-origin feed wheat at 187.62 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for September 17 arrival

- USDA estimated 53% of the US winter wheat crop good to excellent as of April 9 compared to 51% a week ago and 56% a year-ago, ahead of analysts' expectations of 52% (range 50-54%)

- USDA estimated US spring wheat planting 5% complete as of April 9, behind an average of trade estimates for 12% and compared to 12% last year and a 11% five-year average

- USDA raised its forecast of US 2016/17 wheat ending stocks to a near 30-year high 1.159 billion bushels (31.54 MMT) from 1.129 billion in March, above an average of trade estimates for 1.147 bln bu

- USDA slightly increased global 2016/17 wheat production estimate to 751.36 MMT, up by 0.3 MMT from last month, 16.13 MMT above the last year’s record, mainly on a larger crop in Pakistan. Global trade is lowered marginally, but remains a record

- USDA lifted its forecast for 2016/17 world wheat inventories to a record 252.26 MMT from March estimate of 249.94 MMT and above average expectation of 250.24 MMT (248.5-253 – range)

- Apr 12 - China auctioned 2,000 MT of imported wheat from state reserves, or 2.1% of the offered amount (93,269 MT), at average price of 2,500 RMB/mt (363 $/mt)

- Apr 11 - China sold 607,500 MT of wheat from state reserves or 23% of the of the offered amount (2,635,266 MT) at auction at average price of 2,508 RMB/mt (363 $/mt)

- Conab lowered its Brazil's 2017 wheat crop estimate to 5.458 MMT from 5.649 MMT in March, down vs. 6.727 MMT in 2016. They expect wheat imports this year at 6.2 MMT, slightly up from 6.1 MMT in 2016

- Germany's association of farm cooperatives upped its forecast of country’s 2017 wheat crop to 25.26 MMT from 25.13 MMT in March, a 2.7% increase from last year

- FranceAgriMer lowered its forecast for French soft wheat stocks at the end of the 2016/17 to 2.604 MMT from 2.963 MMT projected last month (3.346 MMT in 2015/16). Projected exports outside the EU were kept at 5 MMT down 60.4% from 12.623 MMT in 2015/16, forecast shipments within the EU were also left unchanged at 5.735 MMT, down 26.5% from 7.803 MMT in 2015/16

- Russian Ag Min estimated spring planting 5.4% (or 2.84 million ha) done as of Apr 11 vs. 2.69 million ha a year ago. Of the total Russian farmers planted 1.76 million ha of spring grain or 5.7% of planned area (1.6 mln ha a year ago). Russian farmers have sown 161,600 ha of spring wheat or 1.2% of planned area as of April 11 vs. 82,900 ha a year ago

CORN

- Apr 12 - Taiwan's MFIG bought 65,000 MT of US-origin corn at a premium of 120 USc/bushel c&f over the Chicago September 2017 contract (around 197.6 USD/mt, c&f) for June 10-July 14 shipment

- Apr 11 - Argentina registered 120,000 MT of corn for export

- USDA said the US corn crop 3% planted as of Apr 9, behind an average of trade estimates for 4% and compared to 4% last year but in line with the five-year average

- USDA estimated US sorghum planting 18% complete as of April 9, compared to 15% last year and a 15% five-year average

- USDA kept its forecast of US 2016/17 corn ending stocks at 2.32 billion bushels (58.93 MMT), unchanged from Mar, and below an average of trade estimates for 2.352 bln bu

- USDA raised its Argentine 2016/17 corn harvest estimate to 38.5 MMT from 37.5 MMT predicted in March, which is at the top end of market expectations that ranged from 37 to 38.5 MMT

- USDA raised its Brazil 2016/17 corn harvest estimate to 93.5 MMT from 91.5 MMT previously, which is topped an average of market expectations of 92.4 MMT (90.5-94 MMT – range)

- USDA raised its 2016/17 global corn production estimate by 4.52 MMT to a new record 1,053.8 MMT, up 9.4% from last year's level, with larger crops in Brazil, Argentina, Mexico and Indonesia. 2016/17 corn trade is expected to surpass the previous year’s record as importing countries take advantage of low prices. Robust demand in both Mexico and Vietnam support a higher volume of global export

- USDA upped its forecast for 2016/17 world corn inventories to a record 222.98 MMT from March estimate of 220.68 MMT and above average expectations of 221.81 MMT (219.5-225.15 – range)

- Conab raised its forecast for Brazil's 2016/17 corn crop to 91.469 from 88.969 MMT in March, sharply higher than 66.531 MMT last season with second crop at 61.607 MMT (40.773 MMT in 2015/16). Conab expects Brazil to export 24 MMT of corn (18.883 MMT in 2015/16). Ending stocks are forecasted to climb to 19.317 MMT from 7.999 MT in 2015/16

- Germany's association of farm cooperatives raised its forecast of country’s 2017 corn crop to 4.88 MMT from 4.46 MMT in March, a 22.7% growth from last year

- Germany's association of farm cooperatives forecasts the country’s 2017 winter barley crop at 8.96 MMT (8.87 MMT – previous forecast in March), down 0.8% from last year; and spring barley crop at 1.92 MMT (1.87 MMT – previous forecast), up 7.4% from 2016

- FranceAgriMer lifted its forecast for French corn stocks at the end of the 2016/17 to 1.968 MMT from 1.945 MMT in March, but down vs. 2.485 MMT in 2015/16. France's 2016/17 corn exports are forecasted at 4.94 MMT (5.0 MMT – previous forecast) vs. 6.337 MMT a year ago

- FranceAgriMer cut its forecast of France's 2016/17 barley ending stocks to 1.047 MMT from 1.649 MMT in Mar and against 1.291 MMT in 2015/16. France's 2016/17 barley exports (without malt) is expected at 5.115 MMT (4.68 MMT – previous forecast) down 33.4% from 7.684 MMT a year ago

- Russian farmers have sown 964,600 ha of spring barley or 12.5% of planned area as of April 11 vs. 855,200 ha a year ago

- Russian farmers have sown 100,700 ha of corn or 3.3% of planned area as of April 11 vs. 180,900 ha a year ago

- Ukraine’s Ag Min estimated early spring grain planting 89% done as of Apr 11. Ukrainian farmers planted 2.1 million ha of spring crops, thereof 1.4 million ha of barley (or 84% of planned area), 358,000 ha of peas (or 130%), 185,000 ha of oats (or 89%) and 144,000 ha of wheat (or 76%)

- Ukrainian farmers have sown 89,000 ha of corn or 2% of planned area as of April 11

SOYBEAN

- Apr 11 - Argentina registered 258,514 MT of soymeal for export

- Apr 10 - Argentina registered for export 50,000 MT of soybean, 25,000 MT of soymeal and 15,500 MT of soybean oil

- Apr 10 - Argentina registered for export 18,500 MT of sunflower meal and 10,792 MT of sunflower oil

- Apr 7 - South Korea's Major Feedmill Group (MFG) bought about 60,000 MT of soymeal likely from South America at around 351 $/mt c&f including a surcharge for additional port unloading for shipment between Aug 5-25

- USDA raised its forecast of US 2016/17 soybean ending stocks to 445 million bushels (12.12 MMT) from 435 million in March, near an average of trade estimates for 447 mln bu

- USDA raised its Brazil 2016/17 soybean harvest forecast to a record 111 MMT from 108 MMT projected last month, ahead of average expectations of 109.9 MMT

- USDA raised its estimate of global soybean production in 2016/17 by 5.18 MMT to a record 345.97 MMT with larger production in South America (Brazil, Paraguay, Uruguay and Argentina). Global soybean exports are projected higher this month on larger shipments from Brazil, Paraguay, and Uruguay. Imports are forecast higher as stronger demand from China, the EU, Japan, and Thailand more than offsets reductions for Pakistan and Taiwan

- USDA increased its forecast for 2016/17 world soybean ending stocks to a record 87.41 MMT from March estimate of 82.82 MMT and vs. 77.13 MMT in 2015/16, well above expectations (83.91 MMT – average, 81.5-85.75 MMT – range)

- Conab forecasts Brazil's 2016/17 soy output at 110.162 MMT, up from previous forecast of 107.615 MMT and above than 95.435 MMT last year. Conab raised its forecast of Brazilian soybean exports in 2016/17 to 61 MMT from 59.078 MMT last month (51.582 MMT in 2015/16). Ending stocks are forecasted to rise to 4.444 MMT from 1.482 MMT in 2015/16

- Russia exported about 942,500 MT of sunflower oil between Sept 1-Apr 2, 2016/17, a 44.2%-increase from a year-ago

- Russia exported about 157,200 MT of sunseed between Sept 1-Apr 2, 2016/17, in 5.4 times up from a year-ago

- Russia exported about 254,000 MT of soybeans between Sept 1-Apr 2, 2016/17, down 27.1% from a year-ago

- Russian farmers have sown 305,700 ha of sunflower or 4.3% of planned area as of April 11 vs. 281,600 ha a year ago

- Russian farmers have sown 12,700 ha of rapeseed or 1.4% of planned area as of April 11 vs. 1,400 ha a year ago

- Ukrainian farmers have sown 607,000 ha of sunflower or 11% of planned area as of April 11

- Ukrainian farmers have sown 12,000 ha of soybeans or 1% of planned area as of April 11

- Germany's association of farm cooperatives lifted Germany's 2017 winter rapeseed output forecast from 4.86 to 4.93 MMT this month, now up 7.1% from 2016

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