WHEAT, CORN

- Aug 19 - Japan received no offers for 120,000 MT of feed wheat and 200,000 MT of feed barley in a simultaneous buy and sell (SBS) auction. New SBS tender for the same amounts for each grain will be held on Aug 26

- Russian grain stocks were at 28.9 MMT as of August 1, down 6.1% from a year earlier

- Dr. Michael Cordonnier raised his projections for the US average corn yield by 0.5 bu to 165.0 bpa and harvested acreage by 200,000 acres to 80.8 million acres, resulting in a new corn crop estimate of 13.33 billion bushels

- China will maintain its policy of stockpiling the grain for another year before it fully frees up domestic prices. Analysts said that while stockpiling would continue in the marketing year that begins in October, the amount purchased would drop and that the state support price for corn would also fall as much as 20% from last year's level to 1,800 yuan/mt ($296.75). The price cuts could reduce imports of corn and corn substitutes by more than 30%

SOY

- Dr. Michael Cordonnier raised his projections for the US average soybean yield by 0.5 bu to 44.0 bpa and harvested acreage by 500,000 acres to 83.0 million acres, resulting in a new soybean crop estimate of 3.65 billion bushels

- Lineup of ships with soy and corn in Brazilian ports will likely rise 73% from 2014 levels

- Louis Dreyfus is adding a glycerin refinery to its soybean crushing and biodiesel plant in northern Indiana