WHEAT

- Aug 6 - Japan bought 168,353 MT of food wheat for September-October shipment:

  • 13,500 MT of western white US wheat
  • 22,399 MT of hard red winter US wheat
  • 46,260 MT of dark northern spring US wheat
  • 52,554 MT of Canadian western red spring wheat
  • 33,640 MT of Australian standard white wheat

- Aug 5 - Egypt's GASC bought 120,000 MMT of Russian wheat from Olam and Louis Dreyfus at 198.73 $/t c&f (187.94 $/t fob + 10.79 $/t freight from National Navigation) for September 11-20 delivery.

Egypt's GASC tightened a wheat moisture limit in its latest import tender, applying a 13% maximum level for moisture, instead of the 13.5% limit allowed in previous tenders

- Russia plans to increase annual grain exports to Egypt to 6.5-7 MMT

- Egypt has agreed to export Egyptian cotton to Ukraine in exchange for importing Ukrainian wheat

- Agritel estimated French soft wheat crop at a record 38.9 MMT, up 3.9% from last year, due to higher harvested acreage and strong yields despite heat, dryness. The official record for soft wheat production in France is 38.2 MMT harvested in 1998

- ODA Group lifted its forecast for the French soft wheat harvest by 1 MMT to 39.4 MMT and vs. 37.5 MMT last year

- Informa Economics left its estimate of the US 2015 all-wheat crop unchanged at 2.159 billion bushels

- FAO Food Price Index in July hit their lowest average monthly level since September 2009 as sharp drops in the prices of dairy products and vegetable oils more than offset some increases for those of sugar and cereals

CORN

- Informa Economics left its peg for the US 2015 corn crop at 13.412 billion bu, unchanged from its July estimate

- Informa Economics forecasts the EU 2015 corn crop at 64.6 MMT vs. previous estimate of 65.8 MMT

- Exports of US DDGS were record-large for the second straight month in June, reaching 1.307 MMT, and surpassing the previous record from May of 1.172 MMT. Shipments in June to China were a record 967,529 MT, up from 864,777 MT in May

- US Ethanol exports in June were 228 million liters, the lowest since September

- US Ethanol production for the week ended July 31 decreased 4,000 barrels to 961,000 barrels per day, but it is up 6.5% from last year's level. Stocks declined 409,000 barrels to 19.239 million barrels vs. 18.26 million barrels a year ago

- China's Ag Min urges cuts in state corn price to help pork producers cut costs

- Rabobank is forecasting a 54% increase in Chinese pork imports this year to 2 MMT, up from 1.3 MMT in 2014, mainly benefiting EU countries. China is looking to import pork from Mexico, Thailand and Brazil, but Germany is already one of the big winners

SOY

- South Korea's MFG bought 42,000 MT of Brazilian soy meal for Dec-Jan shipment

- Malaysia bought 30,000 MT of Argentine soy meal for September shipment

- The Philippines bought 46,000 MT of US soy meal for Dec-Jan shipment

- Safras estimates Brazilian farmers have sold 83% of old crop soybeans compared to 87% average

- Informa Economics forecasts the US 2015 soybean crop at 3.789 billion bu, up slightly from 3.77 billion bu in its earlier estimate

- Informa Economics boosted its forecast for the 2015/16 Brazilian soybean crop to 97.5 MMT, up from its previous peg of 97 MMT