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WHEAT

- Jul 26 - Taiwan Flour Millers' Association bought 102,775 MT of US milling wheat in two consignments:

  • The first consignment totalling 53,225 MT was bought from CHS for shipment between Sept 11-25:
    • dark northern spring wheat (14.5% protein) at 264.44 $/mt fob;
    • hard red winter wheat (12.5% protein) at 259.41 $/mt fob;
    • soft white wheat (9% protein) at 225.33 $/mt fob.
  • The second consignment totalling 49,550 MT was bought from Columbia Grain for shipment between Sept 28-Oct 12:
    • dark northern spring wheat (14.5% protein) at 270.78 $/mt fob;
    • hard red winter wheat (12.5% protein) at 264.12 $/mt fob;
    • soft white wheat (9% protein) at 224.2 $/mt fob

- Jul 26 - Jordan has made no purchase in an international tender for 120,000 MT of optional-origin milling wheat and may re-tender on Aug 2

- Jul 24 - Egypt's GASC bought 420,000 MT of wheat from Russia (240 TMT), Romania (120 TMT) and Ukraine (60 TMT) for September 1-10 delivery:

  • 60,000 MT of Russian wheat from GTCS at 234.21 $/mt c&f (217.95 fob+16.26 freight);
  • 60,000 MT of Russian wheat from Daewoo at 235.61 $/mt c&f (219.35 fob+16.26 freight);
  • 60,000 MT of Romanian wheat from ADM at 235.33 $/mt c&f (220.4 fob+14.93 freight);
  • 60,000 MT of Romanian wheat from Ameropa at 235.65 $/mt c&f (220.4 fob+15.25 freight);
  • 60,000 MT of Ukrainian wheat from Louis Dreyfus at 235.99 $/mt c&f (218.85 fob+17.14 freight);
  • 60,000 MT of Russian wheat from ADM at 236 $/mt c&f (221 fob+15 freight);
  • 60,000 MT of Russian wheat from GTCS at 236.76 $/mt c&f (220.5 fob+16.26 freight)

- Jul 25 - The lowest offer in Bangladesh’s tender for 50,000 MT of wheat came in at 270.89 $/mt C&F liner out from Agrocorp. Other offers were: Swiss Singapore Overseas – 285.81 $/mt, Phoenix Global – 298.9 $/mt

- Jul 25 - Japan bought 3,500 MT of feed wheat for Dec 28 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 August 1

- Jul 26 - Argentina registered 355,000 MT of wheat for export

- Jul 24 - Argentina registered 61,270 MT of wheat for export

- Weekly US wheat export sales data for week ended July 19 totalled 385,900 MT for 2018/19 (within trade expectations for 200-500 TMT). Export commitments for 2018/19 are running 31% behind of year-ago

- Russia’s Ag Min said Russia exported 3.3 MMT of grain between July 1-25, 2018/19, up 2.1 times from 1.59 MMT a year ago, including:

  • wheat – 2.5 MMT (3.4 times more from year ago);
  • barley – 516,000 MT (up by 6%);
  • corn – 219,000 MT (down by 38%)

- Russian farmers harvested 29.5 MMT of wheat as of July 26, up from 27 MMT a year ago, yields totalled 3.81 mt/ha down from 4.47 mt/ha year ago

- Ukraine's Ag Min said Ukraine exported 1.49 MMT of grain between July 1-25 2018/19 vs. 1.759 MMT for the same period last season, including:

  • wheat – 433 TMT (486 TMT a year ago);
  • corn – 631 TMT (762 TMT);
  • barley – 430 TMT (514 TMT)

- Ukrainian farmers have threshed 16 MMT of winter wheat from 73% of planned area with the average yield of 3.44 mt/ha as of July 27

- South Africa's Crop Estimates Committee (CEC) expects wheat plantings this year at 505,000 hectares, which would be up 2.7% from last year's acreage

- International Grains Council (IGC) cut its forecast for global wheat production in 2018/19 by 15.8 MMT to 721.0 MMT (758 MMT in 2017/18), the lowest since the 2013/14, mostly reflecting lower perspectives for EU, Russia, China and Ukraine. Forecast of ending stocks was lowered by 8.4 MMT to 247.2 MMT (265.4 MMT in 2017/18)

- Strategie Grains again cut its estimate for this year's EU soft wheat crop to the lowest since 2012 to below 130 MMT (132.4 MMT estimated in early July)

- ODA cut its estimate for the EU soft wheat harvest to 124.9 MMT, down 5.6 MMT from its latest estimate in early July. ODA cut its estimate for this years' soft wheat crop in France to 33.6 MMT, down 2.6 MMT from early July

- FranceAgriMer said 71% of France’s soft wheat crops were in good to excellent condition as of July 22, unchanged from prior week and vs. 65% a year ago. French farmers harvested 88% of soft wheat vs. 64% a week ago and 78% a year ago

CORN

- Jul 31 - Jordan seeks 120,000 MT of optional-origin feed barley for Oct-Nov shipment

- Jul 27 - USDA announced export sales of 270,000 MT of US corn for delivery to unknown destinations during 2018/19

- Jul 27 - China sold 968,796 MT of 2014 and 2015 corn from state reserves, or 24.4% of the offered amount, at average price of 1,418 RMB/mt (209 $/mt). Separately was sold 4,651 MT of 2013 corn or 100% of the offered amount at average price of 1,490 RMB/mt (220 $/mt)

- Jul 26 - China sold 1,169,171 MT of corn from state reserves, or 29.9% of the offered amount, at average price of 1,540 RMB/mt (227 $/mt)

- Jul 27 - Argentina registered 208,000 MT of corn for export

- Jul 26 - Argentina registered 102,780 MT of corn for export

- Jul 25 - Argentina registered 120,000 MT of corn for export

- Weekly US corn export sales data for week ended July 19 of 1,086,000 MT, incl. 338,500 MT for 2017/18 (within trade expectations of 300-700 TMT) and 747,500 MT for 2018/19 (within expectations for 400-800 TMT). Export commitments for 2017/18 are running 5% ahead of year-ago

- Russian farmers harvested 2.6 MMT of barley as of July 26, down from 3.6 MMT a year ago, yields totalled 3.13 mt/ha vs. 3.76 mt/ha year ago

- Ukrainian farmers have threshed 3 MMT of winter barley from 97% of planned area with the average yield of 3.49 mt/ha as of July 27. They also harvested 1.4 MMT of spring barley from 43% of planned area with the average yield of 1.98 mt/ha

- Ukrainian farmers have threshed 562,000 MT of peas from 76% of planned area with the average yield of 1.7 mt/ha as of July 27

- South Africa's Crop Estimates Committee (CEC) kept its forecast of corn output this year at 13.207 MMT unchanged from last month, slightly behind of average market expectations of 13.305 MMT. It would be 21.5% less than last year (16.82 MMT in 2017)

- SAGIS estimated South Africa's corn stocks as of June 30 were at 5.529 MMT vs. 3.419 MMT a month ago and 7.324 MMT a year ago

- SAGIS estimated S. Africa's May-June 2018 corn exports at 588,143 MT, up 28.3% on year (458,483 MT in May 2017)

- IGC left its forecast of the global corn crop in 2018/19 almost unchanged at 1.052 billion tonnes (1.044 BMT in 2017/18). IGC cut its forecast for 2018/19 global corn carryover by 3.2 MMT from June to 249.4 MMT vs. 295.5 MMT in 2017/18

- FranceAgriMer estimated France’s corn condition as of July 22 as 71% in good to excellent, down 2% points from prior week and below the year-ago score of 81%

- FranceAgriMer said 73% of France’s spring barley crops were in good to excellent condition as of July 22, down 2% points from the prior week, above the year-ago score (62%). Harvesting of winter barley was 100% completed as of July 22. French farmers also harvested 70% of spring barley by July 22 vs. 31% a week ago and 71% a year ago

SOYBEAN

- Aug 7-8 - South Korea’s Agro-Fisheries & Food Trade Corp seeks a total 12,000 MT of non-GM soybeans for Nov 1-Dec 20 arrival

- Jul 27 - USDA announced export sales of 154,100 MT of US soybeans for delivery to unknown destinations during 2018/19

- Jul 26 - Argentina registered for export 539,031 MT of soymeal and 110,584 MT of soybean oil

- Jul 25 - Argentina registered 105,000 MT of soymeal for export

- Jul 25 - China sold 59,079 MT of 2013 soybeans from state reserves, or 11.7% of the offered amount, at average price of 2,997 RMB/mt (441 $/mt)

- Brazil is asking China for 5-MMT soymeal, soyoil export quota

- Weekly US soybeans export sales data for week ended July 19 totalled 1,501,900 MT, incl. 538,100 MT for 2017/18 (topped trade expectations of 200-400 TMT) and 963,800 MT for 2018/19 (well above trade expectations for 200-500 TMT). Export commitments for 2017/18 are running 4% behind of year-ago

- Weekly US soymeal export sales data for week ended July 19 of 204,000 MT, incl. 166,400 MT for 2017/18 and 37,600 MT for 2018/19, within trade expectations. Export commitments for 2017/18 are running 18% ahead of year-ago

- IGC raised its forecast for 2018/19 global soybean production by 0.4 MMT to 358.8 MMT (338.4 MMT in 2017/18). IGC upped global 2018/19 soybean carryover to 44.4 MMT (41.9 MMT in 2017/18), up by 3 MMT from prior forecast

- Russian farmers harvested 184,000 MT of rapeseed as of July 26, down from 201,800 MT a year ago. Yields totalled 1.73 mt/ha vs. 1.98 mt/ha a year ago

- Ukrainian farmers harvested 2.4 MMT of winter rapeseed from 94% of planned area as of July 27, yields totalled 2.59 mt/ha

- Ukrainian June sunflower oil production was reported at 350 TMT, down 20.2% from prior month and down 23.4% from last year. Jan-June 2018 sunoil production totalled 2.519 MMT, down 13.3% from the same period in 2017

- Argentine June soybean crush was reported at 3.27 MMT, down 11% from 3.67 MMT in May and down 15.5% from last year. In the first six months of the year, the country crushed 18.47 MMT of soybean vs. 21.4 MMT in the same period last year

- Argentine June sunflower crush was reported at 262,815 MT, down 25% from 350,499 MT in May but up 4.6% from last year. In the first six months of the year, the country crushed 1.82 MMT of sunflower vs. 1.93 MMT in the same period last year

- Stocks of soybean oil at Argentine mills totals 327,773 MT at the end of June 2018, up by 24% from a year-ago

- Stocks of soymeal at Argentine mills totals 1.056 MMT at the end of June 2018, down by 13% from a year-ago

- Stocks of sunflower meal at Argentine mills totals 102,840 MT at the end of June 2018, a 44% increase from a year-ago

- Stocks of sunoil at Argentine mills totals 117,477 MT at the end of June 2018, down by 8.7% from a year-ago

- Surveyor AmSpec Agri Malaysia estimated Malaysia's July 1-25 palm oil exports at 902,979 MT, up 5% from a month ago

- Surveyor SGS estimated Malaysia's July 1-25 palm oil exports at 910,774 MT, up 5.6% from a month ago

- Indonesia will maintain export tax for crude palm oil at zero for August, as the CPO reference price is seen at below the 750 $/mt

- GAPKI estimated Indonesia's June exports of palm oil and palm kernel oil at 2.29 MMT, up 7% from the previous month (2.14 MMT in May) and up 7.5% compared to June 2017 (2.13 MMT)

Black Sea Trade Flows (BST Flows)

FeedDinner 2019