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WHEAT

- Aug 9 - South Korea's Nonghyup Feed Inc. (Nofi) bought 63,000 MT of optional-origin feed wheat from CJ International at 256.55 $/mt c&f plus a 1.25 $/mt surcharge for additional port unloading for Dec 15 arrival

- Aug 9 - Jordan bought 60,000 MT of optional-origin hard milling wheat from Cerealcom Dolj at 269 $/mt c&f for second half of October shipment

- Aug 9 - Japan bought 150,640 MT of food wheat for Oct shipments:

  • 11,600 MT of western white US wheat;
  • 37,580 MT of hard red winter US wheat
  • 65,450 MT of Canadian western red spring wheat;
  • 36,010 MT of Australian standard white wheat

- Aug 8 - Japan bought 3,100 MT of feed grain (2,900 MT of wheat and 200 MT of barley) for Jan 31 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 22

- Aug 9 - Argentina registered 261,000 MT of wheat for export

- Aug 8 - Thailand has made no purchase in an international tender for 39,000 MT of optional-origin feed wheat for Sept shipment due to too high prices. The offers were above 240 $/mt c&f, while buyers were seeking about 225-230 $/mt c&f

- German importers in past weeks have purchased an additional 400,000 MT of feed wheat largely from Romania and Bulgaria for arrivals between August and December. This brought German purchases of Black Sea animal feed wheat to around 800,000 MT this summer. An unusually large 500,000 MT of feed corn has also been purchased by German buyers this summer, mainly from Argentina

- Weekly US wheat export sales data for week ended August 2 totalled 317,100 MT for 2018/19 (within trade expectations for 200-500 TMT). Export commitments for 2018/19 are running 29% behind of year-ago

- Russia’s Ag Min said Russia exported 5.6 MMT of grain between July 1-August 8, 2018/19, up 51% from 3.7 MMT a year ago, including:

  • wheat – 4.6 MMT (almost 2 times more from year ago);
  • barley – 683,000 MT (down by 19%);
  • corn – 288,000 MT (down by 35%)

- Ukraine's Ag Min agreed with traders that the maximum volume of wheat to be exported this season (July 2018-June 2019) will be 16 MMT, including 8 MMT of milling wheat vs. 17.2 MMT of wheat, including 10 MMT of milling wheat in 2017/18

- EU in week ended Aug 3 awarded licenses to import 47,000 MT of reduced-tariff wheat imports of various origins under quotas

- Strategie Grains cut its EU 2018 soft wheat crop forecast from 132.4 to 127.7 MMT, 10% below 2017/18 (141.8 MMT)

- FranceAgriMer said that by August 5 French farmers harvested 100% of soft wheat vs. 99% a week ago and 95% a year ago

- Germany's association of farm cooperatives cut its forecast of country’s 2018 wheat crop to 19.9 MMT from 21.53 MMT in July, a 18.6% decrease from last year

- Conab upped its forecast for 2018 wheat production to 5.144 MMT from 4.902 MMT in July and compared to 4.264 MMT last year. They forecast wheat imports this year at 6.5 MMT (6.2 MMT in 2017)

- Rosario grain exchange expected Argentine 2018/19 wheat production at a record 21 MMT

- Denmark's harvest of wheat, barley and rye could fall by about 40% from previous years, according to Danish Agriculture & Food Council

CORN

- Aug 14 - Jordan seeks 120,000 MT of optional-origin feed barley for Oct-Nov shipment

- Aug 9 - Taiwan's MFIG bought 65,000 MT of US or Brazil corn from Bunge at a premium of 150.5 USc/bushel c&f over the Chicago December contract (around 210 USD/mt, c&f) for Oct 21-Nov 9 shipment

- Aug 9 - South Korea's Nonghyup Feed Inc. (Nofi) rejected all offers in tender to buy 69,000 MT of corn for Jan 20 arrival, citing on too high prices. The lowest offer was 213.88 $/mt c&f + 1.00 $/mt surcharge for additional port unloading

- Aug 8 - South Korea's Major Feedmill Group (MFG) in a private deal bought 68,000 MT of optional-origin corn at 210.39 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for Jan 12 arrival

- Aug 10 - China sold 791,186 MT of corn from state reserves, or 19.8% of the offered amount, at average price of 1,428 RMB/mt (209 $/mt)

- Aug 9 - China sold 1,176,420 MT of corn from state reserves, or 29.5% of the offered amount, at average price of 1,541 RMB/mt (226 $/mt)

- Aug 8 - Jordan has made no purchase in an international tender for 120,000 MT of optional-origin feed barley

- Aug 8 - Argentina registered 265,290 MT of corn for export

- Weekly US corn export sales data for week ended August 2 of 1,212,200 MT, incl. 554,500 MT for 2017/18 (within trade expectations of 300-600 TMT) and 657,700 MT for 2018/19 (within expectations for 400-900 TMT). Export commitments for 2017/18 are running 6% ahead of year-ago

- Conab lowered its forecast of Brazil's 2017/18 corn crop to 82.181 MMT from 82.928 MMT in July (97.843 MMT last season) with second crop at 55.355 MMT (67.381 MMT in 2016/17). Conab kept its forecast for Brazil corn exports at 30 MMT (30.837 MMT in 2016/17). Ending stocks are forecasted at 10.083 MMT vs. 17.247 MT in 2016/17

- Rosario grain exchange forecasts Argentine 2018/19 corn crop at a record high 45-46 MMT

- Strategie Grains raised its forecast of EU's 2018/19 corn production by 700,000 MT to 61.3 MMT, 3% above 2017/18 (59.4 MMT)

- Strategie Grains lowered its forecast of EU's 2018/19 barley production from 59.6 to 57.1 MMT, 2% below 2017/18 (58.4 MMT)

- FranceAgriMer estimated France’s corn condition as of Aug 5 as 62% in good to excellent, down 4% points from prior week and below the year-ago score of 79%

- FranceAgriMer said that French farmers harvested 100% of spring barley by Aug 5 vs. 98% a week ago and 97% a year ago

- Germany's association of farm cooperatives cut its forecast of country’s 2018 corn crop to 2.3 MMT (4.24 MMT previous), a 49.4% drop from last year

- Germany's association of farm cooperatives forecasted the country’s 2018 winter barley crop at 7.38 MMT (7.93 MMT – previous forecast in July), down 18.1% from last year; and spring barley crop at 2.09 MMT (2.18 MMT – previous forecast), up 14.2% from 2017

- China's Ag Min raised its forecast of 2018 corn output to 211.45 MMT from 209.53 MMT previously (215.89 MMT in 2017). China’s 2018/19 corn imports are forecasted at 1.5 MMT (3.3 MMT in 2017/18)

SOYBEAN

- Aug 9 - USDA announced export sales of 135,000 MT of US soybean cake and meal for delivery to the Philippines during 2018/19

- Aug 8 - Egypt’s GASC bought 20,000 MT of local soybean oil at 12,300 EGP/mt (688 $/mt) from Watanya/Cargill (10 TMT) and Alex Co. (10 TMT), also 21,500 MT of sunflower oil from Aston (11,500 MT at 760.93 $/mt c&f) and ADM (10,000 MT at 760.94 $/mt c&f) with facilities 180 days for Sept 15-30 arrival

- Aug 8 - China sold 37,428 MT of 2013 soybeans from state reserves, or 12.4% of the offered amount, at average price of 2,983 RMB/mt (437 $/mt)

- Aug 8 - China sold 25,755 MT of 2011 soy oil from state reserves, or 59.6% of the offered amount, at average price of 5,000 RMB/mt (734 $/mt)

- Aug 8 - China sold 600 MT of rapeseed oil from state reserves, or 1.1% of the offered amount, at average price of 6,000 RMB/mt (879 $/mt)

- Aug 9 - Argentina registered 131,339 MT of soymeal for export

- Aug 8 - Argentina registered 238,000 MT of soymeal for export

- Weekly US soybeans export sales data for week ended August 2 totalled 954,300 MT, incl. 421,800 MT for 2017/18 (topped trade expectations of 100-400 TMT) and 532,500 MT for 2018/19 (within trade expectations for 300-600 TMT). Export commitments for 2017/18 are running 3% behind of year-ago

- Weekly US soymeal export sales data for week ended August 2 of 129,500 MT, incl. 109,600 MT for 2017/18 and 19,900 MT for 2018/19, within trade expectations. Export commitments for 2017/18 are running 19% ahead of year-ago

- Conab raised its forecast of Brazil's 2017/18 soy output to a new record of 118.986 MMT from 118.886 MMT in July and compared to previous crop of 114.075 MMT. Conab kept its forecast of Brazil’s soybeans export at 72 MMT (68.155 MMT in 2016/17). Ending stocks are forecasted to slightly decrease to 1.588 MMT from 1.603 MMT in 2016/17

- China imported 8.005 MMT of soybeans in July, down 20.6% from the year before. China's soybean imports in the first seven months of the year fell 3.7% to 52.88 MMT

- China's imports of all vegetable oils in July was 506,000 MT up 87.4% on year. China's Jan-Jul vegetable oil imports rose 7.8% on year to 3.28 MMT

- Germany's association of farm cooperatives cut Germany's 2018 winter rapeseed output forecast from 3.55 to 3.47 MMT this month, down 18.6% from 2017

- Indian Apr-Jul 2018 soybean meal exports are estimated at 312,126 MT vs. 300,046 MT during the same period of last season. Indian soybean meal exports in July were 63,748 MT, down 21% from the year-earlier month

- Indian Apr-Jul 2018 rapeseed meal exports are estimated at 369,646 MT vs. 165,609 MT during the same period of last season. Indian rapeseed meal exports in July were 46,364 MT, a 3-fold increase from the year-earlier month

- MPOB estimated Malaysian crude palm oil production in June at 1.503 MMT, below average expectation of 1.545 MMT but up 12.8% from 1.333 MMT in June. Malaysia's palm oil stocks at end-June rose 1.3% from the previous month to 2.215 MMT but below the average market expectation of 2.343 MMT. Malaysian July palm oil exports rose by 6.8% to 1.206 MMT, above average expectation of 1.14 MMT

- Surveyor AmSpec Agri Malaysia estimated Malaysia's Aug 1-10 palm oil exports at 298,610 MT, up 7.4% from a month ago

- Surveyor SGS estimated Malaysia's Aug 1-10 palm oil exports at 287,501 MT, up 11.8% from a month ago

Black Sea Trade Flows (BST Flows)

FeedDinner 2019