WHEAT

- Iran has extended the deadline in its tender to trade 200,000 MT of Iranian durum wheat for at least 250,000 MT of imported milling wheat

- Oct 11 - Jordan passes again on tender to sell 50,000 MT of Polish wheat

- Oct 9 - Saudi Arabia's GSFMO bought 740,000 MT of hard wheat,12.5% protein, from the EU, North America, South America, Australia and Canada at the sellers' option:

Jeddah Po:

  • 65,000 MT of hard wheat from ADM at $214.96 c&f (Dec. 1-10)
  • 65,000 MT of hard wheat from ADM at $217.10 c&f (Dec. 10-20)
  • 65,000 MT of hard wheat from ADM at $217.20 c&f (Dec. 20-30)
  • 65,000 MT of hard wheat from ADM at $217.96 c&f (Jan. 1-10)
  • 60,000 MT of hard wheat from Louis Dreyfus at $220.44 c&f (Jan. 10-20)
  • 65,000 MT of hard wheat from ADM at $223.15 c&f (Jan. 20-30)
  • 60,000 MT of hard wheat from Invivo at $224.80 c&f (Feb. 1-10)
  • 60,000 MT of hard wheat from Louis Dreyfus at $223.14 c&f (Feb. 10-20)
  • 55,000 tones hard wheat from Cerealis at $226.16 c&f (Feb. 20-29)

Dammam Port :

  • 60,000 MT of hard wheat from ADM at $220.71 c&f (Dec. 1-10)
  • 60,000 MT of hard wheat from ADM at $222.95 c&f (Dec. 25-Jan. 5)
  • 60,000 MT of hard wheat from Invivo at $222.60 c&f (Jan. 20-30)

- Oct 9 - Egypt's GASC bought 120,000 MT of Russian and 60,000 MT of Romanian wheat for November 11-20 delivery:

  • 60 TMT of Russian wheat from Union Co. at 205.89 $/mt c&f (198 $/mt fob+7.89 $/mt freight from Union Co)
  • 60 TMT of Russian wheat from ADM at 208.24 $/mt c&f (199 $/mt fob+9.24 $/mt freight from National Navigation (NNC))
  • 60 TMT of Romanian wheat from ADM at 207.89 $/mt c&f (198.5 $/mt fob+9.39 $/mt freight from NNC)

Now Egypt's strategic wheat reserves are enough to last until the middle of March

- Oct 8 - Algeria (OAIC) bought 675,000-800,000 MT of optional origin wheat at average price around 204.5 $/mt c&f (range from $202 to $205.5) for Nov-Dec shipment, part of tender expected to be French origin

- Oct 8 - Israel bought 40,000 MT of optional-origin feed wheat at 187.89-190.25 $/mt c&f for Nov-Jan shipment

- Ukraine's Ag Min said Ukraine exported 10.599 MMT of grain between July 1-Oct 9, 2015 (vs. 9.406 MMT for the same period last year), including wheat – 6.112 MMT (vs. 5.583 MMT a year ago), barley – 2.961 MMT (vs. 2.993 MMT), corn – 1.494 MMT (vs. 704 TMT) and other grains – 32 TMT (vs. 125 TMT). An additional 203 TMT of grain had been loaded on vessels and should leave Ukraine in the coming days

- Ukrainian farmers have planted winter wheat on 4.6 mln ha (75% of plan) as of Oct 9 vs. 5.3 mln ha a year ago

- Russia's Ag Min said Russia exported about 10.819 MMT of grain between July 1-Oct 7, 2015, down by 18.6% from 13.299 MMT a year ago, including wheat – 8.364 MMT (vs. 11.131 MMT last year), barley – 1.817 MMT, corn – 566 TMT, other grains – 72 TMT

- Russia has 1.862 MMT of grain in its federal intervention fund as of October 9

- Russian farmers have harvested 100.0 MMT of grain (incl. 63.0 MMT of wheat, 18.0 MMT of barley and 6.5 MMT of corn) as of Oct 9, down from 102.1 MMT (incl. 59.7 MMT of wheat, 20.7 MMT of barley and 6.7 MMT of corn) a year ago. Yields were at 2.4 mt/ha, down from 2.5 mt/ha a year ago. While 84.5% (or 14.4 mln ha) of winter crops were planted as of Oct 9 vs. 14.2 mln ha year ago

- Kazakhstan's Ag Min said Kazakhstan harvested 18.901 MMT (from 97.9% area) as of Oct 12, up from 15.313 MMT a year ago. Yields were at 1.31 mt/ha, up from 1.22 mt/ha a year ago

- French Ag Min raised its estimate of country's crop by 0.2 MMT to a new record 41 MMT (37.5 MMT in 2014)

- China will keep its 2016 state wheat purchase price unchanged from this year's level to protect farmers. The government's minimum purchase price will be set at 2,360 yuan/mt (~372 $/mt), the same level as 2015

- Australian wheat output in the year to June 2016 is expected to drop to 24.3 MMT, almost 4% short of latest government estimates (25.28 MMT) as dryness linked to an El Nino weather pattern and above-normal temperatures hurt the crop in its crucial phase of development

- Conab cut its estimate of 2015/16 Brazilian wheat crop to 6.7 MMT from 7.1 MMT, but it's up 11.4% from a year ago

- USDA projected global 2015/16 wheat production to reach 732.8 MMT, up by 1.2 MMT from previous estimate, and above the 2014/15 record (725.5 MMT). In October's forecast larger 2015/16 crops in EU (+1.1 MMT to 155.2 MMT), Australia (+1 MMT to 27 MMT), Canada (+1 MMT to 26 MMT), Algeria (+0.7 MMT to 2.7 MMT) and Ukraine (+0.5 MMT to 27 MMT) more than offset lower production in the US (-2.3 MMT to 55.84 MMT), Argentina (-0.5 MMT to 10.5 MMT) and Ethiopia (-0.3 MMT to 3.9 MMT). Global exports are raised for Ukraine, Canada, Australia, EU, Kazakhstan and Russia, but lowered for the US and Argentina. Global 2015/16 ending stocks were increased to a new record high of 228.5 MMT, up 1.9 MMT versus last month, above average guess (224.76 MMT) and last year's 212.1 MMT

CORN

- Oct 8 - Israel bought 102,000 MT of optional-origin corn at 177.1-181.95 $/mt c&f for Nov-Jan shipment

- Conab forecasts Brazilian corn crop of 82.6-83.6 MMT in the 2015/16 crop year (85.5 MMT in 2014/15), as farmers cut planted area by 1.7-2.7%, with exports at 28 MMT (27.2 MMT in 2014/15)

- Ukrainian farmers have harvested 8.4 MMT of corn from 1.7 mln ha (41%) with yields of 4.93 mt/ha as of Oct 9

- French Ag Min decreased its forecast of country's grain maize crop by 0.4 MMT to 13.07 MMT, down 28% from a record 2014 volume (18.06 MMT)

- French Ag Min left its estimate of the barley harvest at 12.4 MMT unchanged from September estimate and up vs. 11.73 MMT in 2014

- The EU harvested about 28.5 MMT of spring barley this year of which 9 MMT will reach malting standard vs. last year's 29.5 MMT and 9.5 MMT

- USDA made larger-than-expected cuts to its estimates for the number of acres of corn and soybeans that will be harvested this year. Corn production was seen at 13.555 billion bushels (13.504 – average expecting), based on an average yield of 168 bushels per acre (167.1 bpa)

- USDA lowered its 2015/16 global corn production forecast by 5.5 MMT, due to smaller crops in Ukraine, Ethiopia, Argentina, Malawi, US and India. USDA projects global corn production in 2015/16 at 972.6 MMT vs. 1,008.7 MMT in 2014/15. Global trade is lower on weaker demand from Saudi Arabia. USDA cut its estimate of 2015/16 world corn inventories to 187.83 MMT from September estimate of 189.69 MMT, below average expectation of 188.73 MMT and vs. last year's stocks of 196 MMT

SOYBEAN

- Oct 9 - USDA announced export sales of 360,000 MT of US soybeans for delivery to China during 2015/16

- Conab forecasts a record Brazilian soybean crop of 100.1-101.9 MMT in the 2015/16 crop year (96.2 MMT in 2014/15), as farmers expand planted area by 1.7-3.6%, with exports at 53 MMT (50.8 MMT in 2014/15)

- AgRural estimates Brazilian soybeans are 8% planted compared to 7% last year

- USDA raised its national average soybean yield projection by 0.1 bu. from September to 47.2 bpa, as expected, but made larger-than-expected cuts to its estimates for the number of acres resulting in a crop estimate of 3.888 billion bu., down 47 million bu. from Sept and 20 million bu. lower than expected

- USDA increased its forecast of global soybean production in 2015/16 by 0.9 MMT to 320.5 MMT (318.9 MMT in 2014/15), as bigger production in Brazil (+3 MMT to 100 MMT) more than offset smaller crops in the US (-1.3 MMT to 105.8 MMT), India (-0.5 to 11 MMT) and Ukraine (-0.4 MMT to 3.6 MMT). USDA slightly increased its forecast of global 2015/16 soybean stocks to a new record of 85.14 MMT, up 0.2 MMT from September, above average expectation of 84.41 MMT and vs. 78 MMT in 2014/15

- MPOB estimated Malaysian crude palm oil production in September at 1.959 MMT vs. 2.051 MMT in August and vs. avg. expectation of 2.09 MMT with stocks at 2.628 MMT up 5.5% on month but just below the market expectations of 2.65 MMT. Malaysian September palm oil exports was at 1.678 MMT, up 4.4% on month and above the average expectation of 1.65 MMT

- Surveyor Intertek Testing Services estimated Malaysia's Oct 1-10 palm oil exports at 459,379 MT down 11.25% from a month ago

- Surveyor SGS estimated Malaysia's Oct 1-10 palm oil exports at 465,886 MT down 9.5% from a month ago

- Felda Global Ventures said El Nino is likely to cut palm oil output in Indonesia and Malaysia by 5-6% in 2016 and lift prices to 2,500 ringgit ($606.06) per tonne in the first quarter

- Felda expects Malaysia's palm oil stocks to fall to 2.0 MMT by end-Dec 2015 vs. 2.63 MMT in Sept 2015

- French Ag Min raised its estimate of rapeseed crop to 5.27 MMT from 5.25 MMT last month, down 4.5% from last year's harvest of 5.52 MMT

- French Ag Min trimmed its forecast of sunflower crop to 1.24 MMT from 1.29 MMT last month, confirming a 21% fall from last year's harvest of 1.58 MMT

- Ukrainian farmers have harvested 9.4 MMT of sunflower seed from 4.4 mln ha (89%) with yields of 2.12 mt/ha as of Oct 9

- Ukrainian farmers have harvested 2.6 MMT of soybeans from 1.5 mln ha (71%) with yields of 1.73 mt/ha as of Oct 9

- Ukrainian farmers have planted winter rapeseed on just 612,000 ha (74% of plan) as of Oct 9

- Russian farmers have harvested 1.5 MMT of soybeans from 996,500 ha (49.9%) with yields of 1.55 mt/ha as of Oct 9 vs. 1.4 MMT, 1.1 mln ha and 1.34 mt/ha a year ago

- Russian farmers have harvested 7.3 MMT of sunflower seed from 4.6 mln ha (68%) with yields of 1.59 mt/ha as of Oct 9 vs. 6.7 MMT, 4.5 mln ha and 1.49 mt/ha a year ago

- Russian farmers have harvested 995,300 MT of rapeseed from 751,300 ha (74.2%) with yields of 1.32 mt/ha as of Oct 9, down vs. 1.3 MMT, 913,800 ha and 1.46 mt/ha a year ago