WHEAT

- Iraq made no purchase in tender for at least 50,000 MT of hard wheat, Russian wheat was offered the cheapest

- Indonesia turns to Black Sea feed wheat as corn quotas delayed. A 35,000-MT feed wheat shipment from the Black Sea is on its way to Indonesia, and another deal for 50,000 MT was recently signed for delivery in November. Most deals for feed wheat have been signed at 210-212 $/mt c&f. Indonesia stopped issuing import permits for corn in July as part of a broad push for food self-sufficiency and no corn import quotas allocated yet for Nov-Dec

- Egypt will start buying local wheat from farmers at the average global price starting next season changing the way it subsidizes its wheat growers. Under the new system, the government will directly subsidize wheat farmers by granting each of them 1,300 Egyptian pounds ($161.89) per feddan (equivalent to 1.038 acres or 0.42 ha) at a maximum of 25 feddans per farmer

- Weekly US wheat export sales data for week ended October 29 – 105,600 MT, incl. 84,600 MT for 2015/16, below a range of trade estimates for 300,000 to 500,000 MT and the lowest weekly total since Sept 24. Total current marketing-year US wheat export sales are 17% behind the same point last year

- Slow export demand and large US harvests are expected to drive the USDA to raise its estimates for domestic corn, soybean and wheat ending stocks in a monthly report due out on Tuesday

- EU in week ended November 3 granted licenses to export 293 TMT of soft wheat, bringing the total this season to 7.134 MMT vs. 9.794 MMT a year ago

- FranceAgriMer estimated soft wheat planting 90% done as of Nov 2, ahead of last year's pace of 86%; durum planting 68% done vs. 57% a year ago. About 97% of France's soft wheat crops were in good to excellent condition as of Nov 2 vs. 95% a year ago

- Nov 5 - Russia bought 1,215 MT of intervention grain (wheat) in Crimea. Making the total bought since Aug 19 at 47,652 MT of Crimean wheat. Separately Russia bought 373,140 MT of Russian grain (356,805 MT of wheat, 7,425 MT of rye and 8,910 MT of barley) in intervention fund between Aug 20-Nov 3 via tenders on the NTB (Moscow Exchange). So, total intervention purchases so far reach 420,792 MT of grain (incl. 404,457 MT of wheat)

- Russia has 1,831.9 TMT of grain in its federal intervention fund as of November 5

- Russia shipped just 13.32 MMT of wheat for the first nine months of the year (Jan-Sep), down by 14.5% from last year during this period

- Russian farmers have harvested 106.9 MMT of grain (incl. 63.9 MMT of wheat, 18.3 MMT of barley and 11.5 MMT of corn) as of Nov 6, down from 108.3 MMT (incl. 61.6 MMT of wheat, 21 MMT of barley and 10 MMT of corn) a year ago. Yields were at 2.44 mt/ha, down from 2.5 mt/ha a year ago. While 92.5% (or 15.8 mln ha) of winter crops were planted as of Nov 6 vs. 16.4 mln ha year ago

- Kazakhstan's Ag Min said Kazakhstan harvested 19.954 MMT (from 99.99% area) as of Nov 5, up from 16.542 MMT a year ago. Yields were at 1.35 mt/ha, up from 1.25 mt/ha a year ago

- Ukraine's Ag Min said Ukraine exported 14.358 MMT of grain between July 1-Nov 6, 2015 (vs. 12.55 MMT for the same period last year), including:

  • wheat – 7.855 MMT (vs. 6.794 MMT a year ago)
  • barley – 3.451 MMT (vs. 3.28 MMT)
  • corn – 2.991 MMT (vs. 2.335 MMT)
  • other grains – 53 TMT (vs. 141 TMT)

- Ukrainian farmers have planted winter wheat on 5.5 mln ha (89% of plan) as of Nov 6 vs. 6.2 mln ha a year ago

- Buenos Aires Grain Exchange maintains its 2015/16 Argentine wheat crop forecast at 9.5 MMT, a 19% decline from 2014/15 (11.75 MMT). Harvesting of Argentine wheat crop was 4.6% completed as of Nov 5, behind of last year's pace of 8.9%

- Indian cabinet hikes new crop support prices for wheat, rapeseed & lentils to encourage sowing during current drought. India has raised the price that the government will pay to buy new-season wheat from local farmers to 1,525 rupees per 100 kg, up from 1,450 rupees in 2015

- Britain was a net importer of wheat in September with imports totalled 190,129 MT including 40,378 MT from Denmark, 37,770 MT from Canada and 26,208 MT from Germany and exports totalled 134,120 MT including 58,959 MT to Spain, 33,483 MT to the Netherlands and 27,568 MT to Portugal

- FAO raised its estimate of global wheat production in 2015 by 1.4 MMT to 736.2 MMT, some 3 MMT above the 2014 record. The monthly revision mostly reflects a higher production estimate in the EU, which more than offset lower estimates for Australia and the US

- Thailand will sign an agreement with Indonesia to sell 500,000 MT of rice worth over $224 million. Rice sold to Indonesia would come from a new crop and not from existing stockpiles, includes 450,000 MT of 15% grade white rice and 50,000 MT of 5% grade white rice

CORN

- Nov 5 – Jordan bought 100,000 MT of optional origin feed barley

- Corn buyers in Japan are set to further increase purchases from Brazil and Ukraine, lured by prices that are about 10 $/mt cheaper than US supplies. Meanwhile imports from the US may drop 20% next quarter amid slowing Japanese demand

- Weekly US corn export sales data for week ended Oct 29 - 574,900 MT, incl. 556,000 MT for 2015/16, within analyst expectations of 450-650 TMT. But total current marketing-year US corn export sales are 32% behind the same point last year

- EU in week ended Nov 3 granted licenses to export 15 TMT of corn, bringing the total this season to 551 TMT vs. 928 TMT a year ago

- EU in week ended Nov 3 awarded 442 TMT of corn (maize) import certificates, taking the volume so far this season to 3.333 MMT vs. 2.567 MMT a year ago

- FranceAgriMer said 56% of France's corn crops were in good to excellent condition as of Nov 2, unchanged from the prior week, but still well below vs. 89% a year ago. Harvesting of French corn crop was 86% completed as of Nov 2, well ahead of last year's pace of 74%

- Ukrainian farmers have harvested 19.3 MMT of corn from 3.5 mln ha (86%) with yields of 5.43 mt/ha as of Nov 6 vs. 21.8 MMT with yields of 5.7 mt/ha a year ago

- Buenos Aires Grain Exchange estimated corn planting 35.9% done as of Nov 5 vs. 37.4% a year ago. The exchange forecasts country's corn planting area at 2.72 mln ha this year vs. 3.4 mln ha in 2014/15

- South Africa's corn price could jump again as dry weather is preventing planting

- China has suspended its weekly corn sales from state reserves this week as it begun 2015/16 stockpiling scheme in its northeast region this month. The government sold a total of 4.06 MMT of the grain during this year's sales which begun in April, down sharply from last year's 28.83 MMT

- FAO's forecast for 2015 global coarse grains output has been lowered by around 4.5 MMT than anticipated in October, and as much as 28.8 MMT, or 2.2%, below 2014. This month's revision was mainly the result of less buoyant expectations for corn crops in Asia and Europe. In Asia, the decrease mainly concerned India (reduced by 1 MMT) to reflect lower-than-previously anticipated plantings for the kharif corn crop and unfavorable rains. In Europe, dry conditions are behind a 1.6 MMT reduction of maize production prospects in Ukraine

- EU in week ended Nov 3 granted licenses to export 100 TMT of barley, bringing the total this season to 4.288 MMT vs. 3.041 TMT a year ago

- FranceAgriMer estimated winter barley planting 97% done as of Nov 2, ahead of last year's pace of 95%. About 96% of France's winter barley crops were in good to excellent condition as of Nov 2 vs. 95% a year ago

SOYBEAN

- China imported 5.53 MMT of soybeans in October, down 23.8% on the month, but up 34.8% from a year earlier. Imports over the first ten months of the year rose 14.7% to 65.2 MMT, a record high for the period

- Weekly US soybean export sales data for week ended Oct 29 – 656,500 MT, incl. 655,600 MT for 2015/16, well below the market forecasts (1.4-1.8 MMT). Total current marketing-year US soybean export sales are 22% behind the same point last year

- Nov 9 - Brazilian truckers on strike for an undisclosed amount of time looking for a national minimum freight rate and diesel subsidies

- Brazil port congestion should bring some advantage for US soybean suppliers

- FC Stone trimmed its Brazilian soybean production estimate to 100.45 MMT from previous guess of 101.1 MMT, but still a record

- Argentine farmers have halted sales as they await election results in three weeks

- Malaysia's palm stocks seen at highest in 15 years in October

- India's oilmeal exports in October fell to 13,716 MT, down 94.3% from a year earlier (139,649 MT in Sep and 238,703 MT a year ago)

- India exported 4,237 MT of soybean meal in October vs. 6,886 MT a month ago and 29,071 MT a year ago

- India exported 3,079 MT of rapeseed meal in October vs. 60,211 MT a month ago and 140,393 MT a year ago

- India's export of oilmeals during April-October 2015 dropped 39.6% to 763,113 MT compared to 1,263,073 MT during the same period of last year. India's Apr-Oct soymeal exports at 46,980 MT vs. 140,098 MT a year ago and rapeseed meal at 282,448 MT vs. 726,745 MT a year ago

- Ukrainian farmers have harvested 10.8 MMT of sunflower seed from 4.99 mln ha (99%) with yields of 2.18 mt/ha as of Nov 6 vs. 9.6 MMT, 5 mln ha and 1.93 mt/ha a year ago

- Ukrainian farmers have harvested 3.6 MMT of soybeans from 2.06 mln ha (96%) with yields of 1.75 mt/ha as of Nov 6 vs. 3.7 MMT, 1.7 mln ha and 2.12 mt/ha a year ago

- Russian farmers have harvested 2.7 MMT of soybeans from 1.9 mln ha (97.4%) with yields of 1.4 mt/ha as of Nov 6 vs. 2.3 MMT, 1.7 mln ha and 1.36 mt/ha a year ago

- Russian farmers have harvested 9.2 MMT of sunflower seed from 6.2 mln ha (91.4%) with yields of 1.48 mt/ha as of Nov 6 vs. 8.3 MMT, 5.9 mln ha and 1.42 mt/ha a year ago

- Russian farmers have harvested 1.1 MMT of rapeseed from 864,800 ha (85.6%) with yields of 1.25 mt/ha as of Nov 6, down vs. 1.4 MMT, 1 mln ha and 1.43 mt/ha a year ago

- Buenos Aires Grain Exchange estimated soybean planting 8.3% done as of Nov 5 vs. 7.2% a year ago. The exchange forecasts country's soybean planting area at 19.8 mln ha this year vs. 20 mln ha in 2014/15

- Buenos Aires Grain Exchange estimated sunflower planting 49.9% done as of Nov 5, up 8.7% on the week, but down vs. 62% a year ago. The exchange forecasts country's sunflower planting area at 1.45 mln ha this year vs. 1.3 mln ha in 2014/15