WHEAT

- Oct 13 - Jordan canceled tender to buy 100,000 MT of optional origin hard wheat for Feb-March shipment

- Saudi Arabia's GSFMO said it expects to import 3.5 MMT of wheat in 2016 vs. 3.4 MMT in 2015

- Saudi Arabia's wheat storage capacity currently stands at 3.1 MMT, enough to last for more than 10 months

- USDA said 64% of the US winter wheat is planted as of October 11, in line with market expectations (60-67%), but slightly down from 66% last year and the 5-year average pace of 66%

- US wheat export inspections for week, ending October 8, recorded 290,717 MT, well below analysts' estimates (500-625 TMT)

- Favorable weather boosts West European grain sowings:

  • In Germany grain and rapeseed sowings were completed in favorable weather. Area seen close to 2014/15 although the wheat area could rise slightly while rapeseed and winter barley could see small reductions
  • Winter sowings in France were expected to remain close to previous years although the soft wheat area may not reach a near 80-year high seen last year
  • Wheat plantings in UK were around 60 to 70% complete, which is around normal for recent years. UK's rapeseed sowings, which were completed by the end of September, to fall as much as 10% to the benefit of both winter and spring barley

- Kazakhstan's grain stocks as of October 1, 2015 accounted 12.904 MMT, including 10.385 MMT of milling wheat

- Ukrainian farmers have planted winter wheat on 4.86 mln ha (79% of plan) as of Oct 13 vs. 5.56 mln ha a year ago

CORN

- South Korea's NOFI seeks up to 207,000 MT of optional origin corn for March-April shipment

- Oct 14 - 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 Oct 21

- USDA estimated 68% US corn crop rated good to excellent as of Oct 11, unchanged from a week ago, and vs. last year's 74%. As of Sunday, 42% of the US's crop was harvested, which compares to 23% last year and the five-year average of 43%. Traders expected corn harvest 40-45% complete

- US corn export inspections for week, ending Oct 8, reported 573,298 MT, below analysts' expectations (625-750 TMT)

- Dr. Michael Cordonnier raised its estimate of the US 2015 corn yield to 167.5 bpa from previous estimate of 165.0 bpa

- Dr. Michael Cordonnier lowered its estimate of 2015/16 Brazilian corn crop to 81.2 MMT from 84.3 MMT previous week and vs. 85.4 MMT in 2014/15

- Dr. Michael Cordonnier left its 2015/16 Argentine corn crop estimate at 21.6 MMT this week vs. 25.5 MMT in 2014/15

- Dr. Michael Cordonnier estimates South America's 2015/16 corn crop at 107.1 MMT vs. previous estimate of 110.2 MMT and vs. 115.1 MMT in 2014/15

- European lawmakers rejected a proposal on Tuesday, Oct 13, that would have allowed countries to restrict or ban the use of imported GM crops that have secured EU approval

- Syngenta has withdrawn two applications for GMO products in the EU following a re-evaluation of their commercial potential

SOY

- Oct 13 - USDA announced export sales of 240,000 MT of US soybeans for delivery to China during 2015/16

- Oct 13 - Egypt's FIHC bought 54,000 MT of edible oil (9,000 MT of sunflower oil and 45,000 MT of soyoil):

  • 9,000 MT of sunflower oil at 829 $/mt c&f from ADM for arrival Feb 1-20
  • 15,000 MT of soyoil at 741 $/mt c&f from ADM for arrival Jan 1-20
  • 30,000 MT of soyoil at 762 $/mt c&f from Glencore for arrival Jan 1-20

Traders said the following offers were made in the first round of the tender:

Sunflower oil

  • Glencore:
    • 9,000 MT at 840 $/mt c&f for arrival Jan 1-20
    • 9,000 MT at 840 $/mt c&f for arrival Feb 1-20
  • ADM: 9,000 MT at 829 $/mt c&f for arrival Feb 1-20

Soybean oil

  • Glencore:
    • 25,000 MT at 772 $/mt c&f for arrival Dec 10-30
    • 30,000 MT at 769 $/mt c&f for arrival Dec 10-30
    • 25,000 MT at 765 $/mt c&f for arrival Jan 1-20
    • 30,000 MT at 762 $/mt c&f for arrival Jan 1-20
  • ADM: 15,000 MT at 741 $/mt c&f for arrival Jan 1-20

- USDA said the US soybean crop condition was rated 64% good to excellent as of Oct 11, unchanged from a week ago, but below previous year's 73%. As of Sunday, 62% of the US's crop was harvested, in line with market forecasts (60-65%), but ahead of last year's pace of 37% and the five-year average of 54%

- US soybean export inspections for week, ending Oct 8, reported 1,831,696 MT, topping a range of trade forecasts (1.1-1.225 MMT)

- Dr. Michael Cordonnier raised its estimate of the US 2015 soybean yield to 47.2 bpa from previous estimate of 46.5 bpa

- Dr. Michael Cordonnier increased its 2015/16 Brazilian soybean crop estimate by 1 MMT to 100 MMT this week vs. 96.2 MMT in 2014/15. Around 4% to 5% of the crop is planted, which is about normal for this time of year

- Dr. Michael Cordonnier left its 2015/16 Argentine soybean crop estimate at 60 MMT this week vs. 60.8 MMT in 2014/15

- Dr. Michael Cordonnier estimates South America's 2015/16 soybean crop at 175.3 MMT vs. previous estimate of 174.3 MMT and vs. 171.5 MMT in 2014/15