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WHEAT

- Jul 3 - Algeria’s OAIC was seeking at least 50,000 MT of soft wheat for September shipment

- Jul 3 - The lowest offer in Bangladesh’s tender for 50,000 MT of wheat came in at 256.38 $/mt CIF liner out from Agrocorp. Other offers were: Aston – 258.95 $/mt, Phoenix Global – 262.89 $/mt

- Jul 3 - Argentina registered 121,015 MT of wheat for export

- Jul 2 - The lowest offer in Iraq’s tender for 50,000 MT of hard wheat came in at 295 $/mt cif for Canadian wheat. The tender closed on July 2 and offers must remain valid up to July 8

- Jun 28 - Tunisia's state grains agency bought 125,000 MT of soft wheat, 11.5%, for Aug 15-Sept 25 shipment:

  • 75,000 MT (3x25 TMT) of soft milling wheat from Ameropa at 210.89 $/mt c&f;
  • 25,000 MT of soft milling wheat from Cofco at 210.98 $/mt c&f;
  • 25,000 MT of soft milling wheat from Ameropa at 211.64 $/mt c&f

- Jun 28 - Japan bought 50 MT of feed wheat for Nov 30 arrival via SBS-tender. New SBS tender for 120,000 MT of feed wheat and 200,000 MT of feed barley will be held on July 4

- Jun 27 - Jordan has made no purchase in an international tender for 120,000 MT of optional-origin milling wheat and re-tender on July 8

- US wheat export inspections for week, ending Jun 28, recorded 324,181 MT, near the lower end of trade expectations. Inspections for 2018/19 are running 47.2% behind of year-ago

- USDA rated 37% of the US winter wheat crop in good to excellent condition as of July 1, unchanged from prior week, down vs. 48% a year ago. USDA said the US winter wheat harvest was 51% complete, behind of average expectation (56%), matching the last-year pace and above the five-year average of 49%. USDA rated 77% of the US spring wheat crop in good-to-excellent condition as of June 24, unchanged from prior week, ahead of market expectation (76%) and significantly up compared to 37% a year-ago

- Weekly US wheat export sales data for week ended Jun 21 totalled 563,700 MT for 2018/19 (topped trade expectations for 250-500 TMT). Export commitments for 2018/19 are running 31% behind of year-ago

- USDA pegged US total wheat acreage at 47.821 million, up from 46.012 million a year earlier. That topped analysts' estimates which ranged from 46.575 million to 47.700 million acres. Wheat stocks as of June 1 stood at 1.1 billion bushels, in line with estimates

- Russia’s Ag Min said Russia exported 52.082 MMT of grain between July 1- June 27, 2017/18, up by 48.5% from 35.082 MMT a year ago, including:

  • wheat – 40.202 MMT (26.823 MMT in 2016/17);
  • barley – 5.782 MMT (2.935 MMT);
  • corn – 5.731 MMT (5.047 MMT)

- Russian farmers harvested 9.3 MMT of wheat as of July 3, up from 89,400 MT a year ago. Yields totalled 4.11 mt/ha up from 3.68 mt/ha a year ago

- Russian grain stocks were at 20.4 MMT as of June 1, 2018, up 10% from a year earlier (18.6 MMT as of June 1, 2017). The data does not include grain stored at small farms

- SovEcon lowered its 2018 Russian wheat harvest forecast to 72.5 MMT from 73.1 MMT earlier

- Kazakh Ag Min said Kazakhstan exported 10.258 MMT of grain between July 1-June 20, 2017/18 vs. 8.039 MMT a year ago, incl. flour – 3.131 MMT in wheat equivalent vs. 2.881 MMT in the same period of 2016/17

- Ukraine's Ag Min said Ukraine exported 39.4 MMT of grain between July 1-June 30 2017/18, including:

  • wheat – 17.139 MMT;
  • corn – 17.739 MMT;
  • barley – 4.289 MMT

- Agritel expects Ukraine to harvest 24.72 MMT of wheat in 2018, down 5% from 26.15 MMT last year

- Ukrainian farmers have threshed 1.7 MMT of winter wheat with the average yield of 2.97 mt/ha as of July 2

- Stats Canada estimates Canada’s 2018 total wheat plantings at 24.71 million acres down from April estimate of 25.26 and vs. average expected 24.8 million acres, but up 10.4% from 2017

- Egypt has closed its local wheat harvest having bought 3.15 MMT of wheat from farmers. The local procurement season typically runs until July and the government had been targeting to buy 3.5-4 MMT of local wheat this year

- India has extended by six months to the end of 2018 an exemption to its policy for crop cargoes to be fumigated with methyl bromide, a move that should facilitate continued imports of pulses and wheat

- EU this season in period of July 1-Jun 26, 2017/18 exported 20.145 MMT of soft wheat compared to 23.945 MMT a year ago

- European Commission (EC) cut its forecast of 2018 EU soft wheat crop by around 2.65 MMT to 137.6 MMT vs. 141.8 MMT last year. EU's executive kept its forecast of 2018/19 EU soft wheat exports at 27 MMT (21 MMT in 2017/18). Soft wheat inventories in the region are forecasted at 13.43 MMT by the end of June 2019 vs. 18.09 MMT estimated for 2017/18

- FranceAgriMer said 74% of France’s soft wheat crops were in good to excellent condition as of June 24, down 1% point from prior week and vs. 65% a year ago

- Strategie Grains slashed its forecast for this year's French wheat harvest by more than 4 MMT to 33.2 MMT, well below other market estimates and last year's harvest of 36.6 MMT

- International Grains Council (IGC) cut its forecast for global wheat production in 2018/19 by 5.5 MMT to 736.8 MMT (758.1 MMT in 2017/18), mostly reflecting lower perspectives for Russia, China and EU. Forecast of ending stocks was lowered by 2.8 MMT to 255.6 MMT (261.4 MMT in 2017/18)

CORN

- Jul 4 - Jordan seeks 120,000 MT of optional-origin feed barley for Oct-Nov shipment

- Jul 3 - South Korea's Nonghyup Feed Inc. (NOFI) bought 69,000 MT of optional-origin corn from Dreyfus at 205.99 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for Dec 15 arrival

- Jun 29 - South Korea’s Major Feedmill Group (MFG) purchased about 70,000 MT of optional-origin corn at 208.8 $/mt c&f + 1.0 $/mt surcharge for additional port unloading for Dec 14 arrival

- Jun 27 - Tunisia's state grains agency bought 75,000 MT of optional-origin feed barley for Aug 1-Sept 15 shipment:

  • 25,000 MT of feed barley from Glencore at 209.19 $/mt c&f;
  • 25,000 MT of feed barley from ADM at 209.41 $/mt c&f;
  • 25,000 MT of feed barley from Casillo at 212.68 $/mt c&f

- Jun 29 - China sold 852,123 MT of corn from state reserves, or 21.35% of the offered amount, at average price of 1,415 RMB/mt (214 $/mt)

- Jun 28 - China sold 1,059,732 MT of corn from state reserves, or 26.5% of the offered amount, at average price of 1,514 RMB/mt (229 $/mt)

- Jun 29 - Argentina registered 76,000 MT of corn for export

- US corn export inspections for week, ending Jun 28, reported 1,537,871 MT, within market expectations (0.9-1.6 MMT). Inspections for 2017/18 are running 6.1% behind of year-ago

- USDA rated 76% of the country’s corn in good or excellent condition as of July 1, down 1% point from prior week but in line with expectations, also better than last year’s 68%

- Weekly US corn export sales data for week ended Jun 21 of 1,486,700 MT, incl. 849,900 MT for 2017/18 (within trade expectations of 600-1000 TMT) and 636,800 MT for 2018/19 (topped expectations for 200-400 TMT). Export commitments for 2017/18 are running 3% ahead of year-ago

- USDA said farmers planted 89.128 million acres of corn, up 1.1 mln. acres from the government's March forecast, but down from 90.167 million last year. Analysts had been expecting corn plantings of 88.562 million acres. USDA said US corn inventories as of June 1 were at 5.306 billion bushels, slightly above the average trade estimate for 5.268 billion bushels and the largest June figure since 1988

- South Africa's Crop Estimates Committee (CEC) raised its forecast of corn output this year to 13.207 MMT from 12.909 MMT last month, ahead of average market expectations of 12.99 MMT. It would be 21.5% less than last year (16.82 MMT in 2017)

- SAGIS estimated South Africa's corn stocks as of May 31 were at 3.417 MMT vs. 3.689 MMT a month ago and 2.539 MMT a year ago

- SAGIS estimated S. Africa's May corn exports at 280,093 MT, up 273.1% on year (75,068 MT in May 2017)

- Brazil’s Trade Ministry reported June corn exports at 142,893 MT, up from 56,887 MT in May but down vs. 563,207 MT in the year-ago month

- Stats Canada pegged Canada’s 2018 corn plantings at 3.63 million acres down from 3.76 in April and vs. average expected 3.7 million acres, but up 1.6% from 2017

- Stats Canada estimates Canada’s 2018 barley plantings at 6.5 million acres, up from 6.06 in April and vs. average expected 6.1 million acres, also up 12.7% from 2017

- Stats Canada estimates Canada’s 2018 peas plantings at 3.6 million acres, down from 3.87 in April and vs. average expected 3.9 million acres, also down 12% from 2017

- Russian farmers harvested 1.8 MMT of barley as of July 3, up from 1 MMT a year ago. Yields totalled 3.82 mt/ha down from 4.62 mt/ha a year ago

- IKAR has lowered its Russia’s 2018 corn production projection by 500,000 MT to 12.3 MMT

- Ukrainian farmers have threshed 1.6 MMT of winter barley with the average yield of 3.19 mt/ha as of July 2

- Ukrainian farmers have threshed 86,800 MT of peas with the average yield of 1.38 mt/ha as of July 2

- EU this season in period of Jul 1-Jun 26, 2017/18 imported 16.901 MMT of corn (maize) vs. 12.726 MMT a year ago

- EU this season in period of Jul 1-Jun 26, 2017/18 exported 1.551 MMT of corn vs. 2.322 MMT a year ago

- EU this season in period of Jul 1-Jun 26, 2017/18 exported 5.492 MMT of barley vs. 5.313 MMT a year ago

- EU this season in period of Jul 1-Jun 26, 2017/18 exported 2.777 MMT of malt in barley equivalent vs. 2.939 MMT a year ago

- EC slightly lifted forecast of 2018 EU corn harvest to 63.95 MMT (65.45 MMT in 2017). EC forecasts EU 2018/19 corn imports at 13.3 MMT vs. 17 MMT (16.4 MMT previously) in 2017/18 and ending stock at 22.33 MMT vs. 23.52 MMT current season

- EC lowered its forecast of 2018 EU barley harvest by 2.57 MMT to 58.43 MMT vs. 58.79 MMT in 2017. EC forecasts EU 2018/19 barley exports at 10.07 MMT vs. 8.1 MMT in 2017/18 and ending stock at 4.34 MMT vs. 5.84 MMT current season

- FranceAgriMer said 72% of France’s winter barley crops were in good to excellent condition as of June 24, compared with 73% a week earlier and vs. 61% a year ago. Spring barley rating was at 77% in good to excellent vs. 77% last week and vs. 65% a year ago. Harvesting of winter barley was now under way, with 23% of the crop cut by June 24 (1% a week-ago), below the 35% harvest progress a year ago

- FranceAgriMer estimated corn planting 99% done as of June 24 (98% a week-ago), behind of last year’s pace of 100%. Corn crop condition was estimated as 74% in good to excellent, up 2% points on the prior week and vs. the year-ago score of 82%

- ADM is in exclusive talks to take over French animal feed business Neovia for 1.5 billion euros ($1.8 billion)

- IGC lowered its forecast of the global corn crop in 2018/19 by 2.5 MMT to 1.052 billion tonnes (1.043 BMT in 2017/18). IGC cut its forecast for 2018/19 global corn carryover by 4.8 MMT from May to 252.6 MMT vs. 296.6 MMT in 2017/18

SOYBEAN

- Jul 4 - China sold 283,559 MT of 2013 soybeans from state reserves, or 56.7% of the offered amount, at average price of 3,028 RMB/mt (457 $/mt)

- Jul 4 - China sold 29,817 MT of imported 2011 soy oil from state reserves, or 50.9% of the offered amount, at average price of 5,002 RMB/mt (754 $/mt)

- Jun 29 - USDA announced export sales of 130,632 MT of US soybeans for delivery to Mexico during 2018/19

- Jun 28 - Egypt’s GASC bought 25,000 MT of local soybean oil at 12,638 EGP/mt (707 $/mt) from Watanya/Cargill (15 TMT) and Alex Co. (10 TMT), also 40,000 MT of sunflower oil from Hakan Agro (30,000 MT at 776 $/mt c&f and 10,000 MT at 778.5 $/mt c&f with facilities 180 days) for Aug 16-31 arrival

- Jul 3 - Argentina registered for export 252,292 MT of soymeal and 79,600 MT of soybean oil

- Jun 28 - Argentina registered for export 264,500 MT of soymeal and 40,000 MT of soybeans

- US soybean export inspections for week, ending Jun 28, reported 849,204 MT, topped trade estimates. Inspections for the 2017/18 marketing year are running 5.5% behind of year-ago

- USDA rated 71% of the country’s soybeans in good or excellent condition as of July 1, down 2% points from prior week and below market expectations (72%), but better than last year’s 64%

- Weekly US soybeans export sales data for week ended Jun 21 totalled 1,000,800 MT, incl. 358,500 MT for 2017/18 (within trade expectations of 300-600 TMT) and 642,300 MT for 2018/19 (topped trade expectations for 100-400 TMT). Export commitments for 2017/18 are running 4% behind of year-ago

- Weekly US soymeal export sales data for week ended Jun 21 of 221,800 MT, incl. 146,300 MT for 2017/18 and 75,500 MT for 2018/19, within trade expectations. Export commitments for 2017/18 are running 14% ahead of year-ago

- USDA’s estimate for soybean plantings came in at 89.557 million acres, compared with the 88.982 million acres predicted in March, but behind of average expectations for 89.691 million acres and last-year’s 90.142 million. US farmers planted more soybean acres than corn for the first time in 35 years. USDA pegged US June 1 soybean stocks at 1.222 billion bushels, topping the record of 1.092 billion set in 2007, in line with trade expectations

- USDA estimated US May soybean crush for crude oil at 5.174 million short tons, a 0.5% increase from April, and above last year level (4.739 mln tons in May 2017), but below average market expectation (5.24 mln tons). Crude soyoil stocks fell to 2.003 billion lbs as of May 31 from 2.316 in Apr, but above the 1.889 bln lbs a year ago, while refined oil stocks were at 371,127 million lbs as of May 31 vs. 372.584 in Apr and 380,538 in May 2017. May US soy cake and meal stocks were at 391,812 tons vs. 404,468 in Apr and vs. 375,156 tons a year-ago

- FCStone raised its Brazilian soybean crop estimate to a record high 117.36 MMT. It also predicts Brazil will export 70 MMT of soybeans in the current season

- Brazil’s Trade Ministry reported June soybean exports at 10.42 MMT, down from 12.353 MT in May bu up vs. 9.197 MMT a year ago. Also Brazil exported 1.56 MMT of soymeal in June versus 1.653 MMT the month before and 1.391 MMT a year ago; and 126,068 MT of soyoil compared to 123,885 MT in May and 164,945 MT a year ago

- IGC raised its forecast for 2018/19 global soybean production by 2.1 MMT to 358.4 MMT (336.9 MMT in 2017/18). IGC upped global 2018/19 soybean carryover to 41.4 MMT (40.5 MMT in 2017/18), up by 1.7 MMT from prior forecast

- Stats Canada estimates Canada’s 2018 soybean acreage at 6.32 million, down from 6.45 million acres in April, below an average of expectations for 6.7 million acres and down 13.2% from 2017

- Stats Canada estimates Canada’s 2018 canola plantings at 22.74 million acres, up from 21.38 million acres in April, above an average of expectations for 22.4 million acres but down 1.1% from 2017

- CEC raised S. Africa’s 2018 soybean crop forecast to 1.551 MMT from 1.43 MMT last month, up 17.8% from 1.316 MMT in 2017

- Ukrainian farmers harvested 328,000 MT of rapeseed as of July 2, yields totalled 1.91 mt/ha

- Russian farmers harvested 70,700 MT of rapeseed from 2.7% of the planned area as of July 3, up from 8,100 MT a year ago. Yields totalled 1.7 mt/ha vs. 1.56 mt/ha a year ago

- Strategie Grains cut its forecast of EU's 2018/19 rapeseed production to 21.11 MMT from 21.38 MMT previously (22.03 MMT in 2017/18)

- Strategie Grains lowered its forecast of EU's 2018/19 sunflower seed production to 8.76 MMT from 9.03 MMT previously (9.54 MMT in 2017/18)

- Strategie Grains trimmed forecast of EU's 2018/19 soybean production to 2.69 MMT from 2.74 MMT previously (2.59 MMT in 2017/18)

- EU this season in period of Jul 1-Jun 26, 2017/18 imported 13.217 MMT of soybeans vs. 13.652 MMT a year ago

- EU this season in period of Jul 1-Jun 26, 2017/18 imported 18.391 MMT of soymeal vs. 17.847 MMT a year ago

- EU this season in period of Jul 1-Jun 26, 2017/18 imported 4.134 MMT of rapeseed vs. 4.701 MMT a year ago

- EU this season in period of Jul 1-Jun 26, 2017/18 imported 527,710 MT of sunflowerseed vs. 802,460 MT a year ago

- EU this season in period of Jul 1-Jun 26, 2017/18 imported 3.621 MMT of sunflower meal vs. 3.598 MMT a year ago

- EU this season in period of Jul 1-Jun 26, 2017/18 imported 1.594 MMT of sunflower oil vs. 1.587 MMT a year ago

- EU this season in period of Jul 1-Jun 26, 2017/18 imported 6.011 MMT of palm oil vs. 6.048 MMT a year ago

- EC cut its forecast of 2018 EU rapeseed harvest by 0.83 MMT to 20.84 MMT, down 5% from 21.96 MMT in 2017

- EC kept its forecast of 2018 EU sunflower seed crop at 9.73 MMT, down 6.2% from 10.37 MMT in 2017

- EC lowered its forecast of 2018 EU soybean harvest from 2.81 MMT to 2.75 MMT, up 5.2% from 2017 (2.62 MMT)

- Surveyor AmSpec Agri Malaysia estimated Malaysia's June 1-30 palm oil exports at 1,073,224 MT down 10.3% from a month ago

- Surveyor SGS estimated Malaysia's June 1-30 palm oil exports at 1,058,832 MT down 11.8% from a month ago

Grain Ukraine 2018

FeedDinner 2018