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WHEAT

- Aug 20 - Iraq seeks at least 50,000 MT of hard wheat from the US or Australia. The tender closes on August 20 and offers must remain valid up to August 24

- Aug 16 - Taiwan Flour Millers' Association seeks 98,850 MT of US milling wheat for Oct-Nov shipment

- Aug 16 - Jordan seeks 100,000 MT of optional-origin hard milling wheat for January shipment

- Aug 16 - CCC seeks 80,580 MT of SWW for donation to Yemen for Sept 14-Oct 4 shipment

- Aug 11 - South Korea's MFG purchased 65,000 MT of optional-origin feed wheat at 196 $/mt c&f plus a 1.25 $/mt surcharge for additional port unloading for Nov shipment and January 5 arrival

- Aug 9 - Bahrain bought 25,000 MT of Australian wheat for Oct shipment. The tender deadline was Aug 8 with offers remaining valid until Aug 9

- Aug 10 - China sold 20,316 MT of 2012 wheat from state reserves or 1.6% of the offered amount (1,235,724 MT) at auction at average price of 2,423 RMB/mt (363 $/mt)

- Aug 10 - Argentina registered 13,000 MT of wheat for export

- Weekly US wheat export sales data for week ended Aug 3 totalled 464,300 MT for 2017/18 (topped trade expectations of 250-450 TMT). Export commitments for 2017/18 are running 2% behind of year-ago

- USDA lowered US all wheat production forecast to 1.739 billion bushels from 1.76 billion bu in July (2.31 billion in 2016/17), but above the average expectations of 1.711 billion bushels

- USDA trimmed US wheat ending stock forecast for the 2017/18 crop year to 933 million bushels from 938 million bushels in July, ahead of average market estimate of 907 million, but below the 1.184 billion bushels in 2016/17

- USDA raised 2017/18 global wheat production forecast by 5.4 MMT to 743.2 MMT as larger crops are expected in Russia (+5.5 to 77.5 MMT), Ukraine (+2.5 to 26.5 MMT), and Kazakhstan (+1 to 14 MMT). Global trade is forecast up slightly this month mainly on larger imports for Indonesia and Nigeria. Exports are raised for the Black Sea countries which more than offset reductions for Canada and the EU

- USDA raised its forecast of 2017/18 world wheat inventories by 4.1 MMT to 264.69 MMT, above average expectation of 256.69 MMT and vs. 258.56 MMT in 2016/17

- According to TAXUD, the EU this season in period of July 1-Aug 8, 2017/18 exported 1.246 MMT of soft wheat compared to 3.288 MMT a year ago

- Strategie Grains raised its forecast for the 2017 soft wheat harvest in the EU to 141 MMT from 140.7 MMT in July (135,9 MMT in 2016)

- Bulgaria is exporting 433,650 MT of wheat mainly to Spain, Italy and Djibouti, also to Romania, Greece and Turkey, from its record-high new crop of about 6 MMT. Bulgaria's farm ministry has said it expected wheat exports to exceed 1.0 MMT by the middle of August

- Czech Statistics Bureau lowered its wheat production forecast to 4.665 MMT from 4.825 MMT previously, down from 5.455 MMT in 2016

- FranceAgriMer said that French farmers harvested 97% of soft wheat as of Aug 7 vs. 91% a week ago and 74% a year ago

- Russia’s Ag Min said Russia exported about 3.653 MMT of grain between July 1-Aug 9, 2017/18, up by 24.1% from 2.943 MMT a year ago, including:

  • wheat – 2.408 MMT (2.348 MMT in 2016/17);
  • barley – 780 TMT (542 TMT);
  • corn – 445 TMT (31 TMT);
  • others – 20 TMT (22 TMT)

- Russia has 3,988,100 MT of grain in its federal intervention fund as of Aug 11 vs. 3,257,800 MT a year-ago

- Russian farmers harvested 48.39 MMT of wheat from 39.9% of the planned area as of Aug 11, down from 48.89 MMT a year ago. Yields totalled 4.35 mt/ha up from 3.83 mt/ha a year ago

- Russia's SovEcon increased its total grain production forecast to 125.2 MMT from 117 MMT previously, driven largely by a 5-MMT increase to its wheat crop estimate that now stands at 77.9 MMT. IKAR raised its Russian wheat crop estimate to a range of 77 MMT to 80 MMT, up 3 MMT from its prior forecast

- Ukraine's Ag Min said Ukraine exported 3.947 MMT of grain between July 1-Aug 10, 2017/18 vs. 4.167 MMT for the same period last season, including:

  • wheat – 1.6 MMT (vs. 1.955 MMT a year ago);
  • corn – 949 TMT (463 TMT);
  • barley – 1.374 MMT (1.74 MMT)

- Ukrainian farmers harvested 25.3 MMT of wheat from 96% of the planned area as of August 11, down from 26.1 MMT a year ago. Yields totalled 4.14 mt/ha versus 4.26 mt/ha a year ago

- Conab lowered its Brazil's 2017 wheat crop estimate to 5.196 MMT from 5.578 MMT in July, down vs. 6.727 MMT in 2016. They expect wheat imports this year at 7 MMT vs. 7.089 MMT in 2016

- Buenos Aires Grain Exchange kept its estimate of Argentine 2017/18 wheat crop area at 5.4 mln ha (5.1 mln ha in 2016/17). Exchange estimates 98% of the crop has been planted as of August 10 vs. 97.3% this time last year

CORN

- Aug 11 - Saudi Arabia seeks 660,000 MT of feed barley in 11 consignments for Oct shipment

- Aug 11 - South Korea’s Major Feedmill Group has received a low offer of 189.79 $/mt c&f on its tender to purchase 70,000 MT of corn. Other offers ranged from 190.24 to 191.49 $/mt c&f. The tender results could be delayed until Monday

- Aug 10 - Jordan has made no purchase in an international tender for 100,000 MT of optional-origin feed barley for December shipment and may retender on Aug 17

- Aug 11 - Argentina registered 47,200 MT of corn for export

- Aug 11 - Argentina registered 15,900 MT of malt for export

- Aug 10 - Argentina registered 131,200 MT of corn for export

- Aug 10 - Argentina registered 38,000 MT of malting barley for export

- Aug 11 - China sold a total 337,816 MT of corn from state reserves via auctions:

  • 1,500 MT of 2011, 2012 corn, or 12.1% of the offered amount (12,433 MT), at average price of 1,300 RMB/mt (195 $/mt);
  • 336,316 MT of 2013, 2014 corn, or 26.2% of the offered amount (1,284,849 MT) at average price of 1,413 RMB/mt (212 $/mt)

- Aug 10 - China sold a total 150,099 MT of corn from state reserves via auctions:

  • 20,103 MT of 2013 corn, or 3.8% of the offered amount (526,090 MT), at average price of 1,290 RMB/mt (194 $/mt);
  • 129,996 MT of 2014 corn, or 43.1% of the offered amount (301,807 MT) at average price of 1,423 RMB/mt (213 $/mt)

- Weekly US corn export sales data for week ended Aug 3 of 680,400 MT (within trade expectations of 500-900 TMT), incl. 52,000 MT for 2016/17 and 628,400 MT for 2017/18. Export commitments for 2016/17 are running 14% ahead of year-ago

- USDA lowered forecast of US 2017/18 corn crop to 14.153 billion bushels (14.255 in July), but above the high end of analysts' forecasts (13.59-14.07 – range). USDA projected the US corn yield at 169.5 bushels per acre (bpa), below its previous forecast of 170.7 but above an average of trade estimates for 166.2 bpa

- USDA lowered its forecast of global corn production in 2017/18 by 3.4 MMT to 1,033.5 MMT this month as smaller crops in the US, EU and Canada more than offset higher prospects in Zimbabwe and Russia

- USDA left its forecast of 2017/18 world corn ending stocks almost unchanged at 200.87 MMT, above analyst estimates for 183.00-200.5, but down from 228.61 MMT expected at the end of 2016/17

- Conab raised its forecast for Brazil's 2016/17 corn crop to 97.191 from 96.025 MMT in July, sharply higher than 66.531 MMT last season with second crop at 66.683 MMT (40.785 MMT in 2015/16). Conab kept its forecast of Brazilian corn exports in 2016/17 at 28 MMT (18.883 MMT in 2015/16). Ending stocks are forecasted to climb to 21.59 MMT from 7.999 MT in 2015/16

- China’s Ag Min raised its 2016/17 corn import estimate to 1.0 MMT compared to the previous forecast of 800,000 MT. China's Ag Min lowered its 2017/18 corn output forecast to 210.7 MMT from 211.91 MMT in July, down 4% from last year crop (219.57 MMT in 2016/17)

- EU this season in period of Jul 1-Aug 8, 2017/18 imported 1.692 MMT of corn (maize) vs. 1.089 MMT a year ago

- EU this season in period of Jul 1-Aug 8, 2017/18 exported 26,718 MT of corn vs. 153,455 MT a year ago

- EU this season in period of Jul 1-Aug 8, 2017/18 exported 200,210 MT of barley vs. 1.094 MMT a year ago

- EU this season in period of Jul 1-Aug 8, 2017/18 exported 232,829 MT of malt in barley equivalent vs. 340,807 MT a year ago

- Strategie Grains raised its forecast of total EU barley production in 2017 by 0.7 MMT to 58.2 MMT, down 3% from last year (60 MMT in 2016)

- Strategie Grains upped its forecast for EU grain maize production in 2017 by 0.1 MMT to 58.9 MMT, below last year's crop of 59.7 MMT

- FranceAgriMer estimated French corn condition as of Aug 7 as 79% in good to excellent, unchanged from the prior week, but above the year-ago score of 68%

- FranceAgriMer said that French farmers harvested 99% of spring barley as of Aug 7 vs. 94% a week ago and 73% a year ago

- Czech Statistics Bureau lowered its barley production forecast to 1.619 MMT from 1.678 MMT previously, down from 1.845 MMT in 2016

- Russian farmers harvested 7.63 MMT of barley from 27.4% of the planned area as of August 11, down from 10.87 MMT a year ago. Yields totalled 3.46 mt/ha up from 2.83 mt/ha a year ago

- Ukrainian farmers harvested 8.3 MMT of barley from 97% of the planned area as of August 11, down from 9.7 MMT a year ago. Yields totalled 3.39 mt/ha down from 3.41 mt/ha a year ago

- Ukrainian farmers harvested 1.1 MMT of peas from 100% of the planned area as of August 11, up from 751 TMT a year ago. Yields totalled 2.66 mt/ha versus 3.2 mt/ha a year ago

- Buenos Aires Grain Exchange maintains its forecast for Argentina's 2016/17 corn crop at 39 MMT, up 30% vs. 30 MMT in 2015/16. Harvesting of Argentine corn crop was 77.5% completed as of Aug 10 vs. last year’s pace of 75.4%

- Buenos Aires Grain Exchange forecasts Argentine 2016/17 sorghum crop at 3.2 MMT, down 6% from 2015/16 crop (3.4 MMT). Harvesting of Argentine sorghum crop was 86.1% completed as of Aug 10 vs. last year’s pace of 88.9%

SOYBEAN

- Aug 11 - USDA announced export sales of 120,000 MT of US soybeans for delivery to China during 2016/17 (60 TMT) and 2017/18 (60 TMT)

- Aug 11 - Argentina registered for export 10,520 MT of soybeans and 34,840 MT of soymeal

- Aug 11 - Argentina registered 7,900 MT of sunflower oil for export

- Aug 10 - Argentina registered 11,000 MT of soymeal for export

- Weekly US soybean export sales data for week ended Aug 3 of 684,300 MT (within market estimates of 350-750 TMT), incl. 45,000 MT for 2016/17 and 639,300 MT for 2017/18. Export commitments for 2016/17 are running 15% ahead of year-ago

- USDA surprisingly raised its US 2017/18 soybean harvest outlook to a record high 4.381 billion bushels, topped market forecasts (4.165-4.307) and 121 million higher than its July estimate. USDA pegged soybeans yields at 49.4 bpa, above its previous forecast of 48.0, surprising analysts who expected a reduction

- USDA upped its forecast of 2017/18 global soybean production by 2.3 MMT to 347.4 MMT, down 1.2% (or 4.3 MMT) from last year's record level

- USDA raised its forecast of 2017/18 global soy ending stocks by 4.3 MMT to a record high 97.78 MMT, topping even the highest figure in a range of trade estimates (89-94 MMT – range), and above last year's high level of 96.98 MMT

- Conab forecasts Brazil's 2016/17 soy output at a record 114.042 MMT, up from previous forecast of 113.93 MMT and vs. 95.435 MMT last year. Conab kept its forecast of Brazilian soybean exports in 2016/17 at 63 MMT (51.588 MMT in 2015/16). Ending stocks are forecasted to rise to 5.537 MMT from 1.476 MMT in 2015/16

- MPOB estimated Malaysian crude palm oil production in July at 1.827 MMT, above average expectation of 1.681 MMT and up 20.7% from 1.514 MMT in June with end-stocks at the highest level since April 2016 of 1.784 MMT, up 16.8% on month and above the average market expectation of 1.626 MMT. Malaysian July palm oil exports rose only by 1.3% to 1.398 MMT, below the average expectation of 1.435 MMT

- Surveyor Intertek Testing Services estimated Malaysia's August 1-10 palm oil exports at 355,009 MT down 1.4% from a month ago

- Surveyor SGS estimated Malaysia's August 1-10 palm oil exports at 363,007 MT down 4.8% from a month ago

- EU this season in period of Jul 1-Aug 8, 2017/18 imported 1.204 MMT of soybeans vs. 1.676 MMT a year ago

- EU this season in period of Jul 1-Aug 8, 2017/18 imported 2.17 MMT of soymeal vs. 1.996 MMT a year ago

- EU this season in period of Jul 1-Aug 8, 2017/18 imported 24,964 MT of soybean oil vs. 31,597 MT a year ago

- EU this season in period of Jul 1-Aug 8, 2017/18 imported 142,975 MT of rapeseed vs. 56,499 MT a year ago

- EU this season in period of Jul 1-Aug 8, 2017/18 imported 7,462 MT of rapeseed meal vs. 13,898 MT a year ago

- EU this season in period of Jul 1-Aug 8, 2017/18 imported 8,432 MT of rapeseed oil vs. 8,659 MT a year ago

- EU this season in period of Jul 1-Aug 8, 2017/18 imported 30,246 MT of sunflowerseed vs. 95,165 MT a year ago

- EU this season in period of Jul 1-Aug 8, 2017/18 imported 391,594 MT of sunflower meal vs. 308,123 MT a year ago

- EU this season in period of Jul 1-Aug 8, 2017/18 imported 214,898 MT of sunflower oil vs. 171,730 MMT a year ago