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WHEAT

- May 12 - Argentina registered 25,290 MT of wheat for export

- May 11 - Japan bought 138,188 MT of food wheat for June-August shipments:

  • 19,507 MT of western white US wheat;
  • 25,490 MT of hard red winter US wheat;
  • 31,360 MT of dark northern spring US wheat;
  • 30,271 MT of Canadian western red spring wheat;
  • 31,560 MT of Australian standard white wheat

- May 10 - Algeria's OAIC bought around 450-500 TMT of optional-origin soft milling wheat at around 198-199 $/mt c&f for July shipment

- Turkey resumed wheat and sunflower oil imports from Russia on May 8 but the status of corn imports is still unclear

- Weekly US wheat export sales data for week ended May 4 totalled 249,200 MT, incl. net cancellation of 24,200 MT for 2016/17 (well below trade expectations for 100-300 TMT) and 273,400 MT for 2017/18 (within trade expectations for 150-350 TMT). Export commitments for 2016/17 are running 36% ahead of year-ago

- Informa Economics projected of US 2017 all-wheat plantings at 45.589 million acres (18.45 mln ha) and wheat production at 1.82 billion bushels (49.54 MMT), in line with USDA’s forecast

- EU in week ended May 5 awarded licenses to import 676 MT of Ukrainian wheat under an annual duty-free quota. The award meant that the EU had now awarded almost 100% (957,982 MT) out of a total volume of 960,000 MT available in 2017

- According to TAXUD, the EU this season in period of Jul 1-May 9, 2016/17 exported 21.17 MMT of soft wheat compared to 26.257 MMT a year ago. Top 5 export destinations in 2016/17 are Algeria (16.7%), Saudi Arabia (13.4%), Vietnam (6.9%), Egypt (6.8%) and Morocco (6.1%)

- Russia’s Ag Min said Russia exported about 31.516 MMT of grain between July 1-May 10, 2016/17, up by 0.6% from 31.166 MMT a year ago, including:

  • wheat – 24.369 MMT (22.503 MMT a year ago);
  • barley – 2.569 MMT (4.128 MMT);
  • corn – 4.352 MMT (4.245 MMT);
  • others – 226 TMT (290 TMT)

- Russia has 4,000,100 MT of grain in its federal intervention fund as of May 12 vs. 3,254,000 MT a year-ago

- Russian Ag Min estimated spring planting 40.7% (or 21.43 million ha) done as of May 12 vs. 24.33 million ha a year ago. Of the total Russian farmers planted 12.67 million ha of spring grain or 40.9% of planned area (14.58 mln ha a year ago). Russian farmers have sown 2.85 million ha of spring wheat or 21% of planned area as of May 12 vs. 3.89 million ha a year ago

- Kazakh farmers planted 665,800 ha of spring cereals crops as of May 13 vs. 793,900 ha a year ago

- Kazakh Ag Min said Kazakhstan exported 7.079 MMT of grain between July 1-May 10, 2016/17 vs. 7.389 MMT a year ago, incl. flour – 2.537 MMT in wheat equivalent vs. 2.555 MMT in the same period of 2015/16

- Conab lowered its Brazil's 2017 wheat crop estimate to 5.219 MMT from 5.458 MMT in April, down vs. 6.727 MMT in 2016. They expect wheat imports this year at 6.2 MMT, down from 6.56 MMT in 2016

- FranceAgriMer said 76% of France’s soft wheat crops were in good to excellent condition as of May 8, up 1% point from the prior week, but below vs. 87% a year ago; durum rating at 64% in good to excellent vs. 62% a week-ago and vs. 78% a year-ago

- Spain's 2017 winter cereal crop expected to be 50% down on last year's

- Tunisia's grain harvest is expected to rise this season by 38% to 1.78 MMT (incl. 1.2 MMT of durum wheat, 500,000 MT of barley and 120,000 MT of soft wheat) from 1.28 MMT in 2016

- China's state grains stockpiler Sinograin will buy 1.5 MMT of wheat grown this year from Xinjiang

- USDA forecasts US all wheat production at 1.82 billion bushels, down from 2.31 billion in 2016/17 and below the average expectations of 1.859 billion bushels

- USDA pegged US wheat ending stocks for the 2016/17 crop year at 1.159 billion bushels (1.162 – average trade estimates) and projected the 2017/18 carryout at 914 million bushels (934 million bushels – average estimates)

- USDA projected global wheat production to reach 737.8 MMT, down 2% (or 15.3 MMT) from the 2016/17 record, but still above consumption for the fifth straight year

- USDA raised 2016/17 world wheat inventories to 255.35 MMT from April estimate of 252.26 MMT and vs. average expectation of 252.16 MMT. Stocks are expected to rise further to a new record of 258.29 MMT in 2017/18, above a range of trade expectations 238-257 MMT

- South Africa's Crop Estimates Committee (CEC) kept its final estimate of S. Africa’s 2016 wheat crop at 1.91 MMT, up 32.6% from 1.44 MMT in 2015

- May 15 - Iraq seeks about 100,000 MT of US rice

CORN

- May 18 - Turkey's TMO seeks up to 180,000 MT of feed corn (15x12 TMT)

- May 10 - Algeria's OAIC bought around 75,000 MT of optional-origin feed barley at around 167-169 $/mt c&f for July shipment

- May 12 - Argentina registered 141,420 MT of corn for export

- May 11 - Argentina registered for export 90,000 MT of corn

- May 10 - Argentina registered 500,513 MT of corn for export

- May 12 - Argentina registered 71,500 MT of feed barley for export

- May 11 - Argentina registered for export 20,000 MT of feed barley and 18,900 MT of malt

- May 12 - China sold 335,337 MT of 2012 corn from state reserves, or 74% of the offered amount (453,153 MT) at average price of 1,331 RMB/mt (193 $/mt)

- May 11 - China sold 2,138,732 MT of 2013 corn from state reserves, or 85.4% of the offered amount (2,504,158 MT), at average price of 1,378 RMB/mt (200 $/mt)

- Zambia lifted a ban on maize exports after its production of the grain rose to 3.61 MMT in 2016/17 from 2.87 MMT the previous season

- Weekly US corn export sales data for week ended May 4 of 222,600 MT, the lowest for a single week since June 2014, incl. 277,700 MT for 2016/17 (well below trade expectations for 700-900 TMT) and net cancellation of 55,100 MT for 2017/18 (below trade estimates of 50-250 TMT). Export commitments for 2016/17 are running 34% ahead of year-ago

- Informa Economics lowered its projection of US 2017 corn plantings to 89.716 million acres (36.31 mln ha) from 90.8 mln acres/36.75 mln ha in March. Informa forecast US 2017 corn production at 14.06 billion bushels (357.14 MMT), slightly below USDA’s forecast (357.27 MMT)

- EU in week ended May 5 awarded licenses to import 5,743 MT of Ukrainian barley under an annual duty-free quota. The award meant that the EU had now awarded 23.85% (64,393 MT) out of a total volume of 270,000 MT available in 2017

- EU this season in period of Jul 1-May 9, 2016/17 imported 9.99 MMT of corn (maize) vs. 11.884 MMT a year ago. Top 5 import origins in 2016/17 are Ukraine (62.1%), Russia (9.2%), Brazil (8.6%), Canada (6.8%) and the US (5.1%)

- EU this season in period of Jul 1-May 9, 2016/17 exported 1.971 MMT of corn vs. 1.545 MMT a year ago. Top 5 export destinations in 2016/17 are Egypt (25.1%), Lebanon (12.2%), Turkey (7.5%), Libya (7.5%) and Vietnam (7.5%)

- EU this season in period of Jul 1-May 9, 2016/17 exported 4.603 MMT of barley vs. 9.458 MMT a year ago. Top 5 export destinations in 2016/17 are Saudi Arabia (44.4%), Tunisia (8.1%), China (7.2%), Jordan (6.2%) and Algeria (6.2%)

- EU this season in period of Jul 1-May 9, 2016/17 exported 2.463 MMT of malt in barley equivalent vs. 2.857 MMT a year ago. Top 5 export destinations in 2016/17 are Japan (11.2%), Vietnam (9.8%), Nigeria (5.5%), Brazil (4%) and South Africa (3.4%)

- Buenos Aires Grain Exchange raised its forecast for Argentina's 2016/17 corn crop by 2 MMT to 39 MMT, up 30% vs. 30 MMT in 2015/16. Harvesting of Argentine corn crop was 31.8% completed as of May 11 vs. last year’s pace of 27.4%

- Conab raised its forecast for Brazil's 2016/17 corn crop to 92.833 from 91.469 MMT in April, sharply higher than 66.531 MMT last season with second crop at 62.682 MMT (40.773 MMT in 2015/16). Conab raised its forecast of Brazilian corn exports in 2016/17 to 26 MMT from 24 MMT last month (18.883 MMT in 2015/16). Ending stocks are forecasted to climb to 19.232 MMT from 7.999 MT in 2015/16

- USDA's forecasts of US corn ending stocks for both 2016/17 and 2017/18 came in below the average trade expectations

- USDA projected global corn production in 2017/18 at 1,033.7 MMT, down 3% (or 31.5 MMT) from last year's record, with lower forecasts for the US and China. Global trade and consumption are forecast to rise to record levels

- USDA pegged world corn ending stocks at 195.27 MMT, down from 223.9 MMT expected at the end of 2016/17 and below an average of analyst estimates for 209.72 MMT

- Ukraine’s Ag Min estimated early spring grain planting 98% done as of May 12 (100% as of May 13, 2016). Ukrainian farmers planted 2.3 million ha of spring crops, thereof 1.56 million ha of barley (or 95% of planned area) vs. 1.8 mln ha a year ago, 380,000 ha of peas (well above initial plan and vs. 226,000 ha a year ago), 197,000 ha of oats (or 95%) and 171,000 ha of wheat (or 96%)

- Ukrainian farmers have sown 3.9 million ha of corn or 86% of planned area as of May 12 vs. 4.0 million ha a year ago

- Russian farmers have sown 4.53 million ha of spring barley or 58.8% of planned area as of May 12 vs. 5.41 million ha a year ago

- Russian farmers have sown 2.25 million ha of corn or 73.4% of planned area as of May 12 vs. 1.99 million ha a year ago

- FranceAgriMer estimated France’s corn planting 93% done as of May 8 (84% week ago), ahead of last year pace of 73%

- FranceAgriMer said 67% of France’s winter barley crops were in good to excellent condition as of May 8, down 1% point from the prior week and below the year-ago score (85%). Spring barley rating was at 77% in good to excellent vs. 77% last week and vs. 94% a year ago

- Bulgarian farmers have sown 368,562 ha of corn as of May 4 vs. 370,679 ha a year ago

- US Ethanol production for the week ended May 5 rose by 20,000 barrels to 1,006,000 barrels per day, up 4.6% from last year's level of 962,000 bpd. Stocks fell by 158,000 barrels from the week prior to 23.055 million barrels, up 8.5% vs. 21.252 million barrels a year ago

SOYBEAN

- May 12 - Argentina registered for export 47,143 MT of soybeans, 75,675 MT of soymeal and 5,000 MT of soybean oil

- May 11 - Argentina registered for export 60,000 MT of soybeans and 24,430 MT of soymeal

- May 10 - Argentina registered for export 8,672 MT of sunflower oil and 4,000 MT of sunflower meal

- Weekly US soybean export sales data for week ended May 4 of 451,400 MT, incl. 381,400 MT for 2016/17 (within market estimates of 300-500 TMT) and 70,000 MT for 2017/18 (within trade estimates of 0-200 TMT). Export commitments for 2016/17 are running 23% ahead of year-ago

- Informa Economics raised its projection of US 2017 soybean plantings to 89.662 million acres (36.28 mln ha) from 88.7 mln acres/35.9 mln ha in March. Informa forecast US 2017 soybean production at 4.27 billion bushels (116.21 MMT), above USDA’s forecast (115.8 MMT)

- Buenos Aires Grain Exchange raised its Argentina's 2016/17 soybean harvest estimate to 57.5 MMT from 56.5 MMT last week, up from 56 MMT in 2015/16. Harvesting of Argentine soybean crop was 66.5% completed as of May 11 vs. last year’s pace of 51.2%

- Argentina's Rosario grains exchange raised its forecast of the country's 2016/17 soybean harvest to 57 MMT from 56 MMT previously

- Conab forecasts Brazil's 2016/17 soy output at a record 113.013 MMT, up from previous forecast of 110.162 MMT and above than 95.435 MMT last year. Conab raised its forecast of Brazilian soybean exports in 2016/17 to 63 MMT from 61 MMT last month (51.582 MMT in 2015/16). Ending stocks are forecasted to rise to 4.515 MMT from 1.482 MMT in 2015/16

- USDA projected US 2017/18 soy ending stocks at 480 million bushels, well below the average pre-report trade estimate of 563 million

- USDA projected global soybean production in 2017/18 at 344.7 MMT, down almost 1% (or 3.4 MMT) from last year's record level, with lower forecast for South America and the US. Global consumption and trade are forecast to rise to the record levels

- USDA raised its forecast of 2016/17 global soy ending stocks to 90.1 MMT, topping even the highest figure in a range of trade estimates (86.10-89.00 MMT – range)

- Ukrainian farmers have sown 4.6 million ha of sunflower or 85% of planned area as of May 12 vs. 4.5 million ha a year ago

- Ukrainian farmers have sown 1.3 million ha of soybeans or 69% of planned area as of May 12 vs. 1.5 million ha a year ago

- Russian farmers have sown 3.7 million ha of sunflower or 51.5% of planned area as of May 12 vs. 4.08 million ha a year ago

- Russian farmers have sown 334,800 ha of rapeseed or 38.1% of planned area as of May 12 vs. 392,600 ha a year ago

- Russian farmers have sown 855,900 ha of soybeans or 37.8% of planned area as of May 12 vs. 620,400 ha a year ago

- Bulgarian farmers have sown 749,712 ha of sunflower as of May 4 vs. 676,016 ha a year ago

- EU this season in period of Jul 1-May 9, 2016/17 imported 11.68 MMT of soybeans vs. 12.121 MMT a year ago. Top 5 import origins in 2016/17 are the US (41.8%), Brazil (30.7%), Canada (8.7%), Paraguay (8.5%) and Ukraine (4.2%)

- EU this season in period of Jul 1-May 9, 2016/17 imported 15.01 MMT of soymeal vs. 17.259 MMT a year ago. Top 5 import origins in 2016/17 are Argentina (46.6%), Brazil (39%), Paraguay (7.2%), India (1.5%) and US (1.4%)

- EU this season in period of Jul 1-May 9, 2016/17 imported 233,828 MT of soybean oil vs. 267,177 MT a year ago. Top 5 import origins in 2016/17 are Serbia (25.5%), Norway (25%), Ukraine (23.5%), Russia (13.8%) and Paraguay (9%)

- EU this season in period of Jul 1-May 9, 2016/17 imported 3.696 MMT of rapeseed vs. 3.042 MMT a year ago. Top import origins in 2016/17 are Australia (57%), Ukraine (24.7%) and Canada (16.3%)

- EU this season in period of Jul 1-May 9, 2016/17 imported 165,817 MT of rapeseed meal vs. 388,365 MT a year ago. Top 5 import origins in 2016/17 are Russia (50.2%), Ukraine (30 %), Canada (5.9%), China (4.8%) and Serbia (4.7%)

- EU this season in period of Jul 1-May 9, 2016/17 imported 131,221 MT of rapeseed oil vs. 191,249 MT a year ago. Top 5 import origins in 2016/17 are Ukraine (49.6%), Russia (28.9%), Belarus (10.4%), Serbia (8.9%) and Bosnia and Herzegovina (1.5%)

- EU this season in period of Jul 1-May 9, 2016/17 imported 750,371 MT of sunflowerseed vs. 356,563 MT a year ago. Top 5 import origins in 2016/17 are Moldova (37.5%), Argentina (16.2%), Ukraine (15.8%), Serbia (8.9%) and Russia (7.8%)

- EU this season in period of Jul 1-May 9, 2016/17 imported 2.944 MMT of sunflower meal vs. 2.697 MMT a year ago. Top 5 import origins in 2016/17 are Ukraine (68.4%), Russia (14%), Argentina (13.6%), Serbia (1.7%) and China (0.7%)

- EU this season in period of Jul 1-May 9, 2016/17 imported 1.194 MMT of sunflower oil vs. 1.126 MMT a year ago. Top import origins in 2016/17 are Ukraine (90.5%), Moldova (4.6%) and Serbia (3.2%)

- EU this season in period of Jul 1-May 9, 2016/17 imported 4.946 MMT of palm oil vs. 5.809 MMT a year ago. Top 5 import origins in 2016/17 are Indonesia (51.4%), Malaysia (23.8%), Papua New Guinea (8.8%), Guatemala (5.4%) and Honduras (5.2%)

- MPOB estimated Malaysian crude palm oil production in April at 1.548 MMT, below average expectation of 1.59 MMT, but up 5.7% from 1.464 MMT in March with end-stocks at 1.6 MMT up 3% on month, but below the average market expectation of 1.65 MMT. Malaysian April palm oil exports rose to 1.283 MMT, up 1.4% on month but below the average expectation of 1.31 MMT

- Surveyor Intertek Testing Services estimated Malaysia's May 1-15 palm oil exports at 617,697 MT up 8.9% from a month ago

- Surveyor Intertek Testing Services estimated Malaysia's May 1-10 palm oil exports at 346,920 MT up 12.9% from a month ago

- Surveyor SGS estimated Malaysia's May 1-10 palm oil exports at 359,355 MT up 15% from a month ago

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