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WHEAT

- Nov 10 - Tunisia's state grains agency bought 100,000 MT of optional-origin durum wheat for Jan 20-Feb 25 and 100,000 MT of soft wheat, 11.5%, for Dec 20-Jan 25 shipment:

  • 25,000 MT of soft milling wheat from Cargill at 206.93 $/mt c&f;
  • 25,000 MT of soft milling wheat from Cofco at 207.70 $/mt c&f;
  • 25,000 MT of soft milling wheat from Soufflet at 208.48 $/mt c&f;
  • 25,000 MT of soft milling wheat from Dreyfus at 208.72 $/mt c&f;
  • 25,000 MT of durum wheat from Casillo Commodities at 287.66 $/mt c&f;
  • 25,000 MT of durum wheat from Casillo Commodities at 289.65 $/mt c&f;
  • 25,000 MT of durum wheat from Glencore at 288.29 $/mt c&f;
  • 25,000 MT of durum wheat from Glencore at 291.17 $/mt c&f

- Nov 9 - Algeria's OAIC bought 210,000 MT of optional-origin milling wheat, likely from France, for December shipment:

  • 60,000 MT from Transgrain at 210.5 $/mt c&f;
  • 150,000 MT from Invivo at 211.75 $/mt c&f

- Nov 9 - Jordan bought 50,000 MT of optional-origin hard milling wheat from Ameropa at 225 $/mt c&f for Apr 1-15 shipment

- Nov 9 - Japan bought 132,390 MT of food wheat for Dec-Jan shipments:

  • 10,660 MT of western white US wheat;
  • 20,410 MT of hard red winter US wheat;
  • 26,925 MT of dark northern spring US wheat;
  • 50,370 MT of Canadian western red spring wheat;
  • 24,025 MT of Australian standard white wheat

- Ethiopia bought 400,000 MT of optional-origin wheat, with most expected to be sourced from the Black Sea, for shipment by Feb 7 at 297.00 $/mt c&f for 100 TMT, between 297.30 to 300.95 $/mt c&f for 200 TMT and 309.00 $/mt c&f for 100 TMT

- Nov 10 - Argentina registered 66,140 MT of wheat for export

- Nov 9 - Argentina registered 21,455 MT of wheat for export

- Nov 9 - China sold 49,337 MT of 2012 wheat from state reserves or 7.9% of the offered amount (627,141 MT) at auction at average price of 2,377 RMB/mt (358 $/mt)

- Weekly US wheat export sales data for week ended Nov 2 totalled 781,700 MT for 2017/18 (topped trade expectations of 350-550 TMT). Export commitments for 2017/18 are running 5% behind of year-ago

- According to TAXUD, the EU this season in period of July 1-Nov 7, 2017/18 exported 7.01 MMT of soft wheat compared to 9.326 MMT a year ago

- USDA raised 2017/18 global wheat production forecast by 0.8 MMT to 752 MMT as larger crops are expected for Russia and the EU. Global trade is forecast up slightly from last month and remains a record. Imports are forecast down for Vietnam, India, and Jordan, but higher for Iraq, Brazil, Ethiopia, and Mexico. Exports are projected up for Russia, the US, and Argentina which more than offset a reduction in Australia

- USDA lowered global wheat carryover for 2017/18 to still a record 267.53 MMT, down by 0.6 MMT from Oct estimate but slightly above the average of trade estimates (266.78 MMT– avg. pre-report expectation, 261-269 – range)

- SovEcon increased Russia's 2017 total grain production forecast to 134.1 MMT from 132.9 MMT previously, and wheat crop estimate by 1 MMT to 83.9 MMT

- Russia aims to increase its grain export capacity by 50% to 7.5 MMT a month within three years

- Russian Ag Min if necessary may carry out grain interventions at the beginning of 2018

- Russian farmers harvested 88.01 MMT of wheat from 99.1% of the planned area as of Nov 10, up from 75.81 MMT a year ago. Yields totalled 3.22 mt/ha up from 2.79 mt/ha a year ago

- Russian farmers have planted 16.84 million hectares (96.8% of the planned area) of winter crops as of Nov 10, down vs. 17.14 mln ha a year ago

- Bulgaria's Ag Min said Bulgaria exported 1.329 MMT of wheat via port Varna between July 3-Nov 5, 2017/18, up 52% from a year-ago (874,850 MT)

- Bulgarian farmers as of Nov 2 have sown 938,244 hectares for the 2018 wheat harvest, up 13% from 830,036 ha at the same date a year earlier

- FranceAgriMer estimated winter wheat planting 90% done as of Nov 6, ahead of last year’s pace of 88%; crop condition is estimated as 97% in good to excellent, unchanged from the prior week and above the year-ago score of 95%. Also French farmers have planted 48% of durum as of Nov 6 vs. 49% at the same time a year ago

- Conab lowered its Brazil's 2017 wheat crop estimate to 4.568 MMT from 4.881 MMT in October, down vs. 6.727 MMT in 2016. They expect wheat imports this year at 7 MMT vs. 7.089 MMT in 2016

- Rosario grain exchange upped its forecast of Argentine 2017/18 wheat crop production by 300,000 MT to 16.3 MMT

- Buenos Aires Grain Exchange forecasts Argentine 2017/18 wheat crop at 17 MMT, up 1.2% from 2016/17 crop (16.8 MMT). Harvesting of Argentine wheat crop was 8.2% completed as of Nov 8, behind of last year’s pace of 9.3%

CORN

- Nov 21 - Turkey's TMO seeks 108,000 MT of corn (9x12 TMT) for Nov 27-Dec 10 shipment

- Nov 21 - Turkey's TMO seeks 96,000 MT of barley (8x12 TMT) for Nov 27-Dec 10 shipment

- Nov 10 - Tunisia's state grains agency bought 75,000 MT of feed barley from Glencore at 207.98 $/mt c&f for Dec 20-Jan 25 shipment

- Nov 9 - Algeria bought 19,000 MT of feed barley at 208 USD/т C&F for Dec 1-15 shipment

- Nov 10 - Argentina registered 257,478 MT of corn for export

- Nov 9 - Argentina registered 29,000 MT of corn for export

- Weekly US corn export sales data for week ended Nov 2 of 2,938,700 MT, incl. 2,364,500 MT for 2017/18 (well above trade expectations of 1.2-1.6 MMT). Export commitments for 2017/18 are running 25% behind of year-ago

- USDA raised its forecast of US 2017/18 corn crop to 14.578 billion bushels (14.28 in Oct), above the range of analysts' forecasts of 14.25-14.459. USDA surprisingly raised its estimate of the average US 2017 corn yield to a record 175.4 bpa from its Oct estimate of 171.8 bpa, above even the highest in a range of trade estimates (171.7-174 bpa)

- USDA raised its forecast of global corn production in 2017/18 by 5.1 MMT to 1,043.9 MMT this month with a record yield forecast for the US crop more than offsetting reductions for Ukraine and Russia. Global corn trade is driven higher by Mexico (import) and the US (export)

- USDA upped its forecast of 2017/18 world corn ending stocks by 2.9 MMT to 203.86 MMT, above the range of analysts' forecasts of 197.6-203.5 MMT, but down from 226.58 MMT in 2016/17

- EU this season in period of Jul 1-Nov 7, 2017/18 imported 5.14 MMT of corn (maize) vs. 3.029 MMT a year ago

- EU this season in period of Jul 1-Nov 7, 2017/18 exported 311,372 MT of corn vs. 930,572 MT a year ago

- EU this season in period of Jul 1-Nov 7, 2017/18 exported 1.761 MMT of barley vs. 1.598 MMT a year ago

- EU this season in period of Jul 1-Nov 7, 2017/18 exported 991,882 MT of malt in barley equivalent vs. 1.065 MMT a year ago

- China will remove the value-added tax (11%) on imports of distillers dried grains (DDGS)

- China’s Ag Min kept its 2017/18 corn import forecast at 1.5 MMT, but raised its estimate for 2016/17 by 0.16 MMT to 2.46 MMT

- Conab trimmed its forecast of Brazil's 2017/18 corn crop to 91.63-93.05 MMT from 92.2-93.6 MMT in October, less than 97.817 MMT last season with second crop at 67.171 MMT (67.355 MMT in 2016/17). Conab expects Brazil to export 30 MMT of corn (30 MMT in 2016/17). Ending stocks are forecasted to rise to 24.094 MMT from 19.202 MT in 2016/17

- SovEcon increased its 2017 Russian barley crop estimate to 20.7 MMT from 20.4 MMT previously

- SovEcon upped its 2017 Russian corn crop outlook to 13.9 MMT from 13.7 MMT previously

- Russian farmers harvested 10.02 MMT of corn from 69.1% of the planned area as of Nov 10, down from 10.48 MMT a year ago. Yields totalled 5.01 mt/ha vs. 5.64 mt/ha a year ago

- Russian farmers harvested 21.79 MMT of barley from 98.2% of the planned area as of Nov 10, up from 19.06 MMT a year ago. Yields totalled 2.8 mt/ha up from 2.35 mt/ha a year ago

- Ukrainian farmers as of Nov 10 harvested 16.9 MMT of maize from 3.3 million hectares (or 74% from total area of 4.5 million ha) with yields at 5.09 mt/ha

- Ukrainian farmers as of Nov 10 have sown 818,000 hectares (89% of plan) for the 2018 barley harvest

- FranceAgriMer estimated French corn condition as of Nov 6 as 81% in good to excellent, unchanged from the prior week and well above the year-ago score of 53%. French farmers harvested 97% of corn as of Nov 6 vs. 89% a week ago and 88% a year ago

- FranceAgriMer estimated winter barley planting 97% done as of Nov 6, ahead of last year’s pace of 95%

- Farmers in Bulgaria harvested 2.252 MMT of corn from 92.3% of the planned area as of Nov 2, up 6.3% from last-year stage. Yields totals 5.83 mt/ha, 10.6% higher than a year-ago

- Argentina's Rosario grains exchange raised its estimate of the country's 2016/17 corn harvest by 0.5 MMT to 41.5 MMT

- Buenos Aires Grain Exchange expects Argentina’s 2017/18 corn acreage at 5.4 mln ha (5.1 mln ha in 2016/17). Exchange estimates 35% of the crop has been planted as of Nov 8, behind of last year’s pace (39.8%)

- Buenos Aires Grain Exchange forecasts Argentine 2017/18 barley crop at 2.9 MMT, down 3.3% from 2016/17 crop (3 MMT)

SOYBEAN

- Nov 10 - Argentina registered 474,847 MT of soymeal for export

- Nov 9 - Argentina registered for export 115,600 MT of soybeans and 75,000 MT of soymeal

- Weekly US soybeans export sales data for week ended Nov 2 of 1,161,000 MT, incl. 1,160,600 MT for 2017/18 (below expectations of 1.3-1.8 MMT). Export commitments for 2017/18 are running 15% behind of year-ago

- USDA trimmed its US 2017/18 soybean harvest outlook from 4.431 billion bushels to 4.425 billion, topping the average of analysts' estimates (4,408 billion bu) but within market forecasts that ranged from 4.375 billion to 4.467 billion bushels. USDA left its US soy yield estimate at 49.5 bushels per acre (bpa), unchanged from October and above an average of analyst expectations for 49.3 bpa

- USDA raised its forecast of 2017/18 global soybean production by 1 MMT to 348.9 MMT, down 0.7% (or 2.4 MMT) from last year's record level

- USDA upped its forecast of 2017/18 world soybean ending stocks by 1.9 MMT to 97.9 MMT, above the range of analysts' forecasts of 93-97 MMT and up from 96.28 MMT in 2016/17

- China is taking longer to issue safety certificates for cargoes of genetically modified (GMO) soybeans, causing delay shipment arrivals

- The US soybean industry has signed two letters of intent with Chinese importers about an additional shipment of 12 MMT of soybeans worth $5 billion in 2017/18. In the first agreement, signed on Nov 8, the China Chamber of Commerce of Foodstuffs and Native Produce intended to purchase 8 MMT of US soybeans worth $3.4 billion. A second agreement, signed on Nov 9, between grains trader ADM and China's COFCO for intent to purchase 4 MMT of soybeans worth $1.6 billion

- China's Ag Min raised its 2017/18 soybean import forecast to 95.97 MMT compared to the previous forecast of 94.5 MMT and vs. 93.49 MMT in 2016/17. It also lowered its 2017/18 soybean output estimate to 14.89 MMT from 14.94 MMT in October, up 15% from last year crop (12.94 MMT in 2016/17)

- Conab upped its forecast of Brazil's 2017/18 soy output to 106.44-108.64 MMT from 106-108.3 MMT compared to a record previous crop of 114.075 MMT. Conab expects Brazil to export 64 MMT of soybeans (65 MMT in 2016/17). Ending stocks are forecasted to fall to 728,400 MT from 3.571 MMT in 2016/17

- Abiove forecasts Brazil's biodiesel output to rise by 31% in 2018 to 5.5 billion liters (4.2 billion litters in 2017)

- Argentina's Rosario grains exchange lowered its estimate of the country's 2016/17 soybean harvest to 54.4 MMT from 54.5 MMT earlier

- Buenos Aires Grain Exchange expects Argentina’s 2017/18 soybean acreage at 18.1 mln ha, down 5.7% from the previous crop year. About 12% of the crop has been planted as of Nov 8 vs. 10.9% this time last year

- Buenos Aires Grain Exchange expects Argentina’s 2017/18 sunflower seed acreage will rise to 1.8 mln ha (1.7 mln ha in 2016/17). About 69% of the crop has been planted as of Nov 8 vs. 66.7% this time last year

- MPOB estimated Malaysian crude palm oil production in October at 2.009 MMT, above average expectation of 1.95 MMT and up 12.9% from 1.78 MMT in September with end-stocks at the highest level since January 2016 of 2.19 MMT, up 8.4% on month, but below the average market expectation of 2.21 MMT. Malaysian October palm oil exports rose by 2% to 1.549 MMT, matching the average expectation of 1.55 MMT

- Surveyor Intertek Testing Services estimated Malaysia's November 1-10 palm oil exports at 436,988 MT down 2.5% from a month ago

- Surveyor SGS estimated Malaysia's November 1-10 palm oil exports at 439,879 MT down 4.8% from a month ago

- EU this season in period of Jul 1-Nov 7, 2017/18 imported 3.995 MMT of soybeans vs. 4.823 MMT a year ago

- EU this season in period of Jul 1-Nov 7, 2017/18 imported 6.677 MMT of soymeal vs. 6.235 MMT a year ago

- EU this season in period of Jul 1-Nov 7, 2017/18 imported 91,576 MT of soybean oil vs. 99,141 MT a year ago

- EU this season in period of Jul 1-Nov 7, 2017/18 imported 1.426 MMT of rapeseed vs. 771,722 MT a year ago

- EU this season in period of Jul 1-Nov 7, 2017/18 imported 63,968 MT of rapeseed meal vs. 93,999 MT a year ago

- EU this season in period of Jul 1-Nov 7, 2017/18 imported 79,020 MT of rapeseed oil vs. 77,010 MT a year ago

- EU this season in period of Jul 1-Nov 7, 2017/18 imported 151,333 MT of sunflowerseed vs. 291,352 MT a year ago

- EU this season in period of Jul 1-Nov 7, 2017/18 imported 1.009 MMT of sunflower meal vs. 878,944 MT a year ago

- EU this season in period of Jul 1-Nov 7, 2017/18 imported 589,588 MT of sunflower oil vs. 362,013 MMT a year ago

- EU this season in period of Jul 1-Nov 7, 2017/18 imported 2.14 MMT of palm oil vs. 2.119 MMT a year ago

- The US Commerce Department set final anti-subsidy duties on biodiesel imports from Argentina and Indonesia. The duties range from 71.45 to 72.28% on Argentine biodiesel, up from preliminary rates of 50.29 to 64.17%. Final anti-subsidy rates for palm oil biodiesel from Indonesia were set at 34.45 to 64.73%, below the range of 41.06 to 68.28% set in August

- Farmers in Bulgaria harvested 1.84 MMT of sunseed from 99.6% of the planned area as of Nov 2, up 8.5% from last-year stage, with yields at 2.28 mt/ha, 1.8% higher than a year-ago

- Ukrainian farmers as of Nov 10 harvested 11.6 MMT of sunseed from 5.8 million hectares (98% of plan) with yields of 1.99 mt/ha

- Ukrainian farmers as of Nov 10 harvested 3.5 MMT of soybeans from 1.8 million hectares (91% of plan) with yields of 1.91 mt/ha

- Ukrainian farmers have completed winter rape sowing at 860,000 hectares as of Nov 10

- Russian farmers harvested 8.46 MMT of sunseed from 70.3% of the planned area as of Nov 10, down from 10.14 MMT a year ago. Yields totalled 1.54 mt/ha vs. 1.58 mt/ha a year ago

- Russian farmers harvested 3.53 MMT of soybeans from 91.7% of the planned area as of Nov 10, up from 3.02 MMT a year ago. Yields totalled 1.5 mt/ha vs. 1.55 mt/ha a year ago

- Russian farmers harvested 1.57 MMT of rapeseed from 91.7% of the planned area as of Nov 10, up from 1.07 MMT a year ago. Yields totalled 1.73 mt/ha vs. 1.21 mt/ha a year ago