WHEAT

- Bangladesh cancelled its tender to buy 50,000 MT of wheat

- Philippines bought around 110,000 MT of Australian feed wheat for Jan-Feb shipment

- Weekly US wheat export sales data for week ended September 3 – 297,900 MT, incl. 290,400 MT for 2015/16, in line with expectations (250,000-500,000 MT)

- USDA projected global 2015/16 wheat production to reach 731.6 MMT, up by 5.1 MMT from previous estimate, and above the 2014/15 record (725.2 MMT). In September's forecast larger 2015/16 crops in EU (+6.3 MMT to 154.1 MMT), Russia (+1 MMT to 61 MMT) and Ukraine (+1 MMT to 26.5 MMT) more than offset lower production in Canada (-1.5 MMT to 25 MMT), India (-1.1 MMT to 88.9 MMT) and Brazil (-0.5 MMT to 6 MMT). Global exports are raised for the EU and Ukraine, but lowered for the US. Global 2015/16 ending stocks were increased to a new record high of 226.6 MMT, up 5.1 MMT versus last month, above average guess (221.9 MMT) and last year's 211.3 MMT

- Russia's Ag Min will raise purchase prices for its grain intervention fund and has drawn up proposals to ease the burden of wheat export duty

- Russia's Ag Min said Russia exported about 6.786 MMT of grain between July 1-September 9, 2015, down by 22.5% from 8.753 MMT a year ago, including wheat – 5.283 MMT, barley – 1.258 MMT, corn – 204 TMT, other grains – 41 TMT

- Russia has 1.891 MMT of grain in its federal intervention fund as of September 11

- Russian farmers have harvested 81.5 MMT of grain (incl. 54.4 MMT of wheat, 15.8 MMT of barley and 1.5 MMT of corn) as of September 11, down from 83.6 MMT (incl. 51.3 MMT of wheat, 18.8 MMT of barley and 2.0 MMT of corn) a year ago. Yields were at 2.51 mt/ha, down from 2.68 mt/ha a year ago

- Kazakhstan's Ag Min said Kazakhstan harvested 6.896 MMT as of September 14, up from 6.736 MMT a year ago. Yields were at 1.09 mt/ha, up from 1.07 mt/ha a year ago

- Kazakhstan's Ag Min lowered its estimate of Kazakhstan's 2015/16 grain exports to 7.0 MMT from previous estimate of 8.0 MMT

- CONAB raised its estimate of 2015 Brazilian wheat crop to 7.1 MMT from previous estimate of 7.0 MMT, and vs. 6 MMT in 2014

CORN

- Weekly US corn export sales data for week ended September 3 – 411,200 MT for 2015/16, within analyst expectations of 300,000-600,000 MT

- USDA trimmed its national average yield projection to 167.5 bpa for a corn crop estimate of 13.585 billion bushels. This is 14 million bu. lighter than expected and down 101 million bu. from August. Also USDA made greater-than-expected cuts to both old and new-crop carryover, pegging them at 1.732 billion bu. and 1.592 billion bu., respectively

- USDA lowered its 2015/16 global production forecast by 7.5 MMT, due to smaller crops in the EU and US. USDA projects global corn production in 2015/16 at 978.1 MMT vs. 1,007.5 MMT in 2014/15. Global trade is higher on stronger demand from the EU and Vietnam. USDA cut its estimate of 2015/16 world corn inventories to 189.7 MMT from August estimate of 195.1 MMT, below average expectation of 193.44 MMT and vs. last year's stocks of 197.2 MMT

- CONAB raised its estimate of 2014/15 Brazilian corn crop to 84.7 MMT from previous estimate of 84.3 MMT, and vs. 80.1 MMT in 2013/14

- CONAB left its estimate of 2014/15 Brazilian corn exports at 26.4 MMT, unchanged from previous estimate, and vs. 20.9 MMT in 2013/14

- India's summer corn output is likely to drop more than 15% this year due to drought

- USDA raised its 2015/16 global barley production forecast by 5.3 MMT to 144.8 MMT (140.8 MMT in 2014/15), due to higher crops in Russia (+2.5 MMT to 19.5 MMT), EU (+1.4 MMT to 58.6 MMT), Canada (+0.8 MMT to 7.3 MMT), Turkey (+0.4 MMT to 7.4 MMT) and Ukraine (+0.3 MMT to 8.6 MMT). Global trade is higher on stronger demand from Saudi Arabia and larger exportable supplies from Russia

SOY

- Sep 11 - USDA announced export sales of 180,000 MT of US soybeans for delivery to unknown destinations during the 2015/16

- Philippines bought around 90,000 MT of US soymeal for Jan-Feb shipment

- Pakistan bought 8,000 MT of US soyoil on donation

- Weekly US soybean export sales data for week ended September 3 – 1,791,200 MT, incl. 1,790,200 MT for 2015/16, well above market forecasts of 1.0-1.5 MMT

- USDA raised its national average soybean yield projection by 0.2 bu. from August to 47.1 bpa, whereas traders had expected a 0.5-bu. reduction, resulting in a crop estimate of 3.935 billion bu., up 19 million bu. from August and 66 million bu. higher than expected. US soybean ending stocks for the 2015/16 crop year were lowered by 20 million bushels to 450 million bushels, reflecting increased demand from crushers, but it was higher than expected (415 – average estimate)

- USDA trimmed its forecast of global soybean production in 2015/16 by 0.4 MMT to 319.6 MMT (319.4 MMT in 2014/15), as smaller crops in Ukraine (-0.7 MMT to 4.0 MMT) and Canada (-0.25 MMT to 6.0 MMT) could not be offset bigger production in the US (+0.5 MMT to 107.1 MMT). USDA lowered its forecast of global 2015/16 soybean stocks to 85 MMT, down 1.9 MMT from August and average expectation of 86.21 MMT, but it will be a record high and vs. 78.7 MMT in 2014/15

- CONAB left its estimate of 2014/15 Brazilian soybean crop at 96.2 MMT, almost unchanged from previous estimate, and vs. 86.1 MMT in 2013/14

- CONAB raised its estimate of 2014/15 Brazilian soybean exports to 50.0 MMT from previous estimate of 49.1 MMT, and vs. 45.7 MMT in 2013/14

- Malaysia will keep its crude palm oil export tax for October at zero percent with a reference price of 1,982.09 MYR/mt (459.35 $/mt)