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WHEAT

- May 14 - Iraq seeks at least 50,000 MT of hard wheat from the US, Canada or Australia. The tender closes on May 14 and offers must remain valid up to May 20

- May 10 - Japan seeks 95,740 MT of food wheat for June-July shipments:

  • 17,770 MT of western white US wheat;
  • 36,540 MT of hard red winter US wheat;
  • 7,070 MT of dark northern spring US wheat;
  • 34,360 MT of Australian standard white wheat

- May 4 - Saudi Arabia’s SAGO bought 545,000 MT of hard wheat (12.5% protein) of EU, North and South American and Australian origin at an average price of 247.84 $/mt c&f in 9 consignments for Jul-Aug shipment to the ports of Jeddah (365 TMT) and Dammam (180 TMT):

  • Jeddah sea port:
    • 60,000 MT from Grain Crop at 245.65 $/mt c&f (July 1-10);
    • 60,000 MT from Louis Dreyfus at 246.72 $/mt c&f (July 10-20);
    • 65,000 MT from ADM at 246.73 $/mt c&f (July 20-30);
    • 60,000 MT from Glencore at 246.79 $/mt c&f (Aug 1-10);
    • 60,000 MT from Glencore at 246.79 $/mt c&f (Aug 10-20);
    • 60,000 MT from Casillo at 244.98 $/mt c&f (Aug 20-30).
  • Dammam sea port:
    • 60,000 MT from Cargill at 248.25 $/mt c&f (July 1-10);
    • 60,000 MT from Soufflet at 250.14 $/mt c&f (July 20-30);
    • 60,000 MT from Cargill at 254.56 $/mt c&f (Aug 10-20)

- US wheat export inspections for week, ending May 3, recorded 327,662 MT, within trade expectations. Inspections for 2017/18 are running 11.2% behind of year-ago

- USDA rated 34% of the US winter wheat crop in good to excellent condition as of May 6, up 1% point from prior week and ahead of analysts' forecasts for 33%, but down vs. 53% a year ago. USDA said spring wheat was 30% planted, in line with expectation, but well behind last year score and the five-year average of 51%

- EU this season in period of July 1-May 7, 2017/18 exported 17.207 MMT of soft wheat compared to 21.839 MMT a year ago

- Iraq has bought more than 300,000 MT of domestic wheat this season and maintained its estimate of 2.5 MMT of local purchases for the 2018 season despite this year's drought

- Egypt has wheat reserves sufficient for 4.4 months, not including about 2 MMT of wheat so far collected in the ongoing local harvest

CORN

- May 8 - Jordan bought 60,000 MT of optional-origin feed barley from GTCS at 227 $/mt c&f for August 1-15 shipment

- US corn export inspections for week, ending May 3, reported 1,916,461 MT, topped market expectations (1.1-1.6 MMT). Inspections for 2017/18 are running 15.7% behind of year-ago

- USDA said the US corn crop was 39% planted by May 6, above an average of analyst expectations for 37% but down compared to 45% last year and a 44% five-year average

- AgRural cut its forecast of Brazil's 2017/18 second corn crop to 57.2 MMT, a 4.5% drop from its April estimate. Brazil's 2017/18 total corn crop is expected to reach 83.9 MMT

- EU this season in period of Jul 1-May 7, 2017/18 imported 14.778 MMT of corn (maize) vs. 10.05 MMT a year ago

- EU this season in period of Jul 1-May 7, 2017/18 exported 1.105 MMT of corn vs. 2.147 MMT a year ago

- EU this season in period of Jul 1-May 7, 2017/18 exported 4.994 MMT of barley vs. 4.687 MMT a year ago

- EU this season in period of Jul 1-May 7, 2017/18 exported 2.416 MMT of malt in barley equivalent vs. 2.505 MMT a year ago

- Ukrainian farmers have sown 3.3 million ha of corn or 72% of planned area as of May 7

- Ukraine’s Ag Min estimated early spring grain planting 92%, or 2.2 million ha done as of May 7, thereof:

  • 1.5 million ha of barley (or 92% of planned area);
  • 408,000 ha of peas (or 96%);
  • 181,000 ha of oats (or 89%);
  • 158,000 ha of wheat (or 90%)

SOYBEAN

- US soybean export inspections for week, ending May 3, reported 533,667 MT, within trade estimates. Inspections for the 2017/18 marketing year are running 11.7% behind of year-ago

- USDA said 15% of the US soybean crop was planted as of May 6, in line with market forecasts and compared to 13% last year and a 13% five-year average

- AgRural raised its estimate of Brazil's 2017/18 soybean harvest to a record-high 119.2 MMT, up from 119 million in April

- China imported 6.92 MMT of soybeans in April, down 13.7% from the year before. China's soybean imports in the first four months of the year fell 3.8% to 26.49 MMT

- China's imports of all vegetable oils in April was 314,000 MT down 44% on year. China's Jan-Apr vegetable oil imports fell 17% on year to 1.64 MMT

- EU this season in period of Jul 1-May 7, 2017/18 imported 11.412 MMT of soybeans vs. 11.839 MMT a year ago

- EU this season in period of Jul 1-May 7, 2017/18 imported 15.775 MMT of soymeal vs. 15.197 MMT a year ago

- EU this season in period of Jul 1-May 7, 2017/18 imported 3.677 MMT of rapeseed vs. 3.756 MMT a year ago

- EU this season in period of Jul 1-May 7, 2017/18 imported 454,059 MT of sunflowerseed vs. 754,166 MT a year ago

- EU this season in period of Jul 1-May 7, 2017/18 imported 3.224 MMT of sunflower meal vs. 3.0 MMT a year ago

- EU this season in period of Jul 1-May 7, 2017/18 imported 1.428 MMT of sunflower oil vs. 1.247 MMT a year ago

- EU this season in period of Jul 1-May 7, 2017/18 imported 5.323 MMT of palm oil vs. 5.2 MMT a year ago

- Strategie Grains lowered its forecast of EU's 2018/19 rapeseed production to 22.21 MMT from 22.54 MMT previously (22.01 MMT in 2017/18)

- Strategie Grains upped its forecast of EU's 2018/19 sunflower seed production to 9.1 MMT from 9.04 MMT previously (9.6 MMT in 2017/18)

- Strategie Grains trimmed forecast of EU's 2018/19 soybean production to 2.76 MMT from 2.77 MMT previously (2.6 MMT in 2017/18)

- Ukrainian farmers have sown 4.4 million ha of sunflower or 79% of planned area as of May 7

- Ukrainian farmers have sown 869,000 ha of soybeans or 45% of planned area as of May 7

IGC GRAINS CONFERENCE 2018

AGRICRUISE18