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WHEAT

- Jun 13 - Jordan seeks 120,000 MT of optional-origin milling wheat

- Jun 10 - The lowest offer in Iraq’s tender for 50,000 MT of hard wheat came in at 313.75 $/mt c&f for Australian wheat from CBH. Other Australian offers were in range 318.73-330.99 $/mt c&f. The US wheat offers were at 337.86-343.45 $/mt c&f, and Canadian wheat at 318-320 $/mt c&f. The tender closed on June 10 and offers must remain valid up to June 14

- Jun 7 - Japan bought 144,522 MT of food wheat for August shipments:

  • 40,137 MT of western white US wheat;
  • 27,210 MT of hard red winter US wheat;
  • 23,243 MT of dark northern spring US wheat;
  • 28,712 MT of Canadian western red spring wheat;
  • 25,220 MT of Australian standard white wheat

- Jun 8 - Argentina registered 55,207 MT of wheat for export

- Jun 7 - Argentina registered 153,518 MT of wheat for export

- USDA weekly export sales report showed net cancellations of 19,400 MT of wheat for the 2017/18 marketing year, which ended May 31 (within trade expectations for -300 TMT to -100 TMT), and net sales of 250,900 MT for 2018/19 (near the lower end of trade expectations for 250-450 TMT). The USDA said 1,304,700 MT in old-crop sales were carried over to 2018/19

- Russian Ag Min estimated spring grain planting 90.4% (or 28.05 million ha) done as of June 9 vs. 30.44 million ha a year ago. Russian farmers have sown 11.54 million ha of spring wheat or 89.3% of planned area vs. 13.01 million ha a year ago

- IKAR lowered its estimate for Russia's 2018 wheat crop to 71.5 MMT from the previously expected 73.5 MMT, and total grain crop to 114.7 MMT from 117 MMT previously

- SovEcon cut Russia's 2018 total grain production forecast to 119.6 MMT from 126.2 MMT previously, and wheat crop forecast by 3.9 MMT to 73.1 MMT

- Kazakh farmers planted 14.18 million ha of spring cereals crops as of June 9 vs. 14.38 million ha a year ago

- EU this season in period of July 1-Jun 5, 2017/18 exported 18.931 MMT of soft wheat compared to 23.056 MMT a year ago

- Germany's association of farm cooperatives cut its forecast of country’s 2018 wheat crop to 22.89 MMT from 23.98 MMT in May, a 6.5% decrease from last year

- France exported 2 MMT of soft wheat in April. Soft wheat exports outside the EU totalled 1.2 MMT (incl. 499,000 MT to Algeria), taking the total since the start of the 2017/18 July-June season to 6.7 MMT. France also exported 837,000 MT to other EU countries in April, taking the season's total to 7.3 MMT. Total French soft wheat exports so far this season were up 64% at 14 MMT (8.5 MMT in Jul-Apr 2016/17)

- FranceAgriMer said 79% of France’s soft wheat crops were in good to excellent condition as of June 3, down 1% point from prior week and vs. 75% a year ago

- Egypt's GASC cancelled a 60,000-MT Russian wheat cargo from AOS after several delays

- FAO raised its forecast of global wheat production in 2018 to 754.1 MMT from 746.6 MMT projected in May but still below 2017 (757.2 MMT) despite increases to forecasts for several major producers, including Argentina and India. Trade in 2018/19 (July-June) to exceed the 2017/18 record volume with higher sales from the EU, Russia and the US more than compensating for declines in exports from Argentina and Ukraine. Stocks (ending in 2019) to reach a new record 283.4 MMT (279 MMT previous forecast), driven by build-ups in China and India, above their opening levels (277.4 MMT)

- Bangladesh is imposing a 28% tax on rice imports to support its farmers after local production revived

CORN

- Jun 12 - Jordan seeks 120,000 MT of optional-origin feed barley

- Jun 8 - South Korea's KOCOPIA bought 60,000 MT of corn, likely from the US, from Posco Daewoo at 220.4 $/mt c&f including a surcharge for additional port unloading for Oct 15 arrival

- Jun 7 - South Korea's Nonghyup Feed Inc. (NOFI) bought 137,000 MT of optional-origin corn at around 215.53 $/mt c&f + 1.25 $/mt surcharge for additional port unloading: 69,000 MT from Cargill for Oct 20 arrival and 68,000 MT from CHS for Oct 30 arrival

- Jun 7 - South Korea's Feed Leaders Committee (FLC) bought around 65,000 MT of optional-origin corn at 215.5 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for Oct 17 arrival

- Jun 8 - Argentina registered 230,700 MT of corn for export

- Jun 7 - Argentina registered 247,290 MT of corn for export

- Jun 8 - China sold 933,805 MT of corn from state reserves, or 23.4% of the offered amount, at average price of 1,413 RMB/mt (221 $/mt)

- Jun 7 - China sold 2,492,094 MT of corn from state reserves, or 62.7% of the offered amount, at average price of 1,524 RMB/mt (239 $/mt)

- Weekly US corn export sales data for week ended May 31 of 1,256,900 MT, incl. 838,600 MT for 2017/18 (near the upper end of trade expectations for 600-900 TMT) and 418,300 MT for 2018/19 (topped expectations of 200-400 TMT). Export commitments for 2017/18 are running 2% ahead of year-ago

- EU this season in period of Jul 1-Jun 5, 2017/18 imported 15.962 MMT of corn (maize) vs. 11.503 MMT a year ago

- EU this season in period of Jul 1-Jun 5, 2017/18 exported 1.241 MMT of corn vs. 2.24 MMT a year ago

- EU this season in period of Jul 1-Jun 5, 2017/18 exported 5.229 MMT of barley vs. 5.056 MMT a year ago

- EU this season in period of Jul 1-Jun 5, 2017/18 exported 2.63 MMT of malt in barley equivalent vs. 2.753 MMT a year ago

- FranceAgriMer said 75% of France’s winter barley crops were in good to excellent condition as of June 3, compared with 75% a week earlier and vs. 66% a year ago. Spring barley rating was at 78% in good to excellent vs. 77% last week and vs. 74% a year ago

- FranceAgriMer estimated corn planting 98% done as of June 3 (98% a week-ago), behind of last year’s pace of 100%. Corn crop condition was estimated as 77% in good to excellent, down 7% points on the prior week and vs. the year-ago score of 87%

- Germany's association of farm cooperatives upped its forecast of country’s 2018 corn crop to 4.35 MMT (4.3 MMT previous), a 4.2% drop from last year

- Germany's association of farm cooperatives forecasted the country’s 2018 winter barley crop at 8.42 MMT (8.74 MMT – previous forecast in May), down 6.6% from last year; and spring barley crop at 2.26 MMT (2.39 MMT – previous forecast), up 23.8% from 2017

- Russian farmers have sown 7.35 million ha of spring barley or 96.3% of planned area as of June 9 vs. 7.39 million ha a year ago

- Russian farmers have sown 2.57 million ha of corn or 85.3% of planned area as of June 9 vs. 2.92 million ha a year ago

- Ukrainian farmers have sown 4.6 million ha of corn or 99% of planned area as of June 8

- Ukraine’s Ag Min estimated early spring grain planting 97%, or 2.3 million ha done as of June 8, thereof:

  • 1.5 million ha of barley (or 97% of planned area);
  • 421,000 ha of peas (or 100%);
  • 191,000 ha of oats (or 94%);
  • 171,000 ha of wheat (or 98%)

- FAO trimmed its forecast of global corn production in 2018 to 1,046.5 MMT from 1,047.3 MMT projected in May, indicating a 4% (43.2 MMT) decline from the 2017 record level. Trade in 2018/19 to increase by 1.1%, driven by higher import demand in Asia and continued large export availabilities. Global stock estimates revised up sharply since the previous report following historical revisions to China’s maize utilization and stocks. Global corn stocks (ending in 2019) upped by 35.5 MMT from last month to 262.4 MMT but well below their opening levels (311.9 MMT)

SOYBEAN

- Jun 18-19 - South Korea’s Agro-Fisheries & Food Trade Corp seeks a total 10,000 MT of non-GM soybeans for Jul-Oct arrival

- Jun 8 - Argentina registered 50,000 MT of soymeal for export

- Jun 7 - Argentina registered 236,843 MT of soymeal for export

- Weekly US soybeans export sales data for week ended May 31 totalled 199,500 MT, incl. 164,800 MT for 2017/18 (below trade expectations for 200-500 TMT) and 34,700 MT for 2018/19 (below trade expectations for 200-500 TMT). Export commitments for 2017/18 are running 5% behind of year-ago

- Weekly US soymeal export sales data for week ended May 31 of 135,100 MT, incl. 131,200 MT for 2017/18 (within trade expectations for 50-350 TMT) and 3,900 MT for 2018/19 (within trade expectations for 0-100 TMT). Export commitments for 2017/18 are running 14% ahead of year-ago

- Argentina's Rosario grains exchange cut its forecast of the country's 2017/18 soybean harvest to 35 MMT from 37 MMT previously

- China imported 9.69 MMT of soybeans in May, up 1% from the year before. China's soybean imports in the first five months of the year fell 2.6% to 36.17 MMT

- China's imports of all vegetable oils in May was 604,000 MT up 44% on year. China's Jan-May vegetable oil imports fell 5.8% on year to 2.24 MMT

- FAO expects world soybean production in 2018 to rise by 6.4% (21.4 MMT) to a new record 358.3 MMT fuelled mainly by a rebound in Argentina and further gains in Brazil. Trade in 2018/19 to expand further on growing import demand in Asia; Argentina, Uruguay and the US expected to export more in 2018/19. Stocks (2018/19 carry out) to contract further (to 36.7 MMT from 39.2 MMT in 2017/18), returning to levels recorded prior to the mid-2010s highs

- EU this season in period of Jul 1-Jun 5, 2017/18 imported 12.613 MMT of soybeans vs. 13.081 MMT a year ago

- EU this season in period of Jul 1-Jun 5, 2017/18 imported 17.257 MMT of soymeal vs. 16.874 MMT a year ago

- EU this season in period of Jul 1-Jun 5, 2017/18 imported 3.952 MMT of rapeseed vs. 4.459 MMT a year ago

- EU this season in period of Jul 1-Jun 5, 2017/18 imported 503,577 MT of sunflowerseed vs. 782,620 MT a year ago

- EU this season in period of Jul 1-Jun 5, 2017/18 imported 3.461 MMT of sunflower meal vs. 3.359 MMT a year ago

- EU this season in period of Jul 1-Jun 5, 2017/18 imported 1.491 MMT of sunflower oil vs. 1.433 MMT a year ago

- EU this season in period of Jul 1-Jun 5, 2017/18 imported 5.787 MMT of palm oil vs. 5.667 MMT a year ago

- Germany's association of farm cooperatives trimmed Germany's 2018 winter rapeseed output forecast from 4.12 to 4.05 MMT this month, down 5% from 2017

- Russian farmers have sown 7.77 million ha of sunflower or 102.8% of planned area as of June 9 vs. 7.32 million ha a year ago

- Russian farmers have sown 2.58 million ha of soybeans or 95% of planned area as of June 9 vs. 2.29 million ha a year ago

- Russian farmers have sown 1.31 million ha of rapeseed or 124.3% of planned area as of June 9 vs. 856,300 ha a year ago

- Ukrainian farmers have sown 5.7 million ha of sunflower or almost 103% of planned area as of June 8

- Ukrainian farmers have sown 1.7 million ha of soybeans or 90% of planned area as of June 8

Grain Ukraine 2018

FeedDinner 2018