WHEAT

- July 23 - Japan bought 141,438 MT of food wheat for August-September shipment:

  • 15,150 MT of western white US wheat
  • 36,615 MT of hard red winter US wheat
  • 27,840 MT of dark northern spring US wheat
  • 35,128 MT of Canadian western red spring wheat
  • 26,705 MT of Australian standard white wheat

- Japan's June grain imports up 0.3% on year to 2.098 MMT, incl. 1.361 MMT from the US

- USDA's Ag attaché revised its 2015/16 grain crop forecast for the EU to 305 MMT, down nearly 21 MMT from last year's record but still the third largest crop on record. The attaché forecasts EU wheat production at 148.5 MMT, which is down 8.3 MMT from 2014/15

- AgCanada forecasts 2015/16 total wheat crop at 27.1 MMT vs. previous estimate of 29.7 MMT and vs. 29.3 MMT in 2014/15

- Russian farmers have harvested 26.6 MMT of grain (incl. 20.5 MMT of wheat and 2.9 MMT of barley) as of July 22, down from 33.6 MMT (incl. 28 MMT of wheat and 3 MMT of barley) a year ago. Yields were at 3.7 mt/ha, up from 3.47 mt/ha a year ago

- Philippines looking to import additional 250,000 MT of rice as El Nino intensifies

CORN

- US Ethanol production for the week ended July 17 fell by 11,000 barrels per day to 973,000 bpd. Stocks declined 181,000 barrels to 19.56 million barrels

- There is good weather for crop development across the US Midwest

- USDA's Ag attaché forecasts EU corn production at 66 MMT, which is down 9.5 MMT from 2014/15

- USDA's Ag attaché forecasts EU barley production at 57.5 MMT, which is down 3 MMT from 2014/15

SOY

- Improving weather view pressures US corn, soy, wheat

- China bought 2 cargos of South American soyoil for Aug-Sep this week

- Japan's June soybean imports up 30.9% on year to 297,181 MT, incl. 222,296 MT from the US