WHEAT

- Dec 14 - Morocco's ONICL seeks 150,000 MT of local soft wheat to make subsidized flour

- Dec 3 - Japan seeks 125,626 MT of food wheat for Jan-Mar shipment:

  • 20,620 MT of western white US wheat
  • 13,700 MT of hard red winter US wheat
  • 33,986 MT of dark northern spring US wheat
  • 57,320 MT of Canadian western red spring wheat

- USDA estimated winter wheat condition at 55% good to excellent as of Nov 29, compared with 53% a week ago and higher that the market expectation of 54%, but down vs. 58% a year ago

- US wheat export inspections for week, ending November 26, recorded 275,736 MT, within analysts' estimates (200-400 TMT). Inspections for 2015/16 are running 15.9% behind year-ago

- ABARES cut its forecast of 2015/16 Australian wheat crop to 23.982 MMT from previous estimate of 25.284 MMT in September, but still slightly above last year's crop of 23.666 MMT

- Argentine Ag Min said wheat harvest is 20% done compared to 31% last year

- Dec 1 - Russia bought 73,305 MT of intervention grain (72,765 MT of wheat and 540 MT of barley) via tender on the NTB (Moscow Exchange). Making the total bought since Aug 20 at 950,535 MT of Russian grain (919,485 MT of wheat, 12,825 MT of rye and 18,225 MT of barley)

- Russian Hydrometcentre estimated country's 89% winter crops in good and satisfactory condition

- Rosselkhoznadzor estimated Russian grain exports between Jul 1- Nov 30, 2015 at 18.5 MMT (incl. 13.11 MMT of wheat) compared with 20.47 MMT (14.68 MMT) in the same period of 2014/15

- Pakistan kept unchanged the support price for wheat at Rs1,300 per 40kg

- South Korea approved free trade agreements (FTA) with China, New Zealand and Vietnam this week

CORN

- Egypt's GASC said it soon would hold big tenders for corn, soybeans and meat

- US corn export inspections for week, ending Nov 26, reported 298,692 MT, well below the range of trade expectations (450-650 TMT). Inspections for 2015/16 are running 26.2% behind year-ago

- Pakistan imposed 30% regulatory duty on import of corn

- Truck freight from Brazil's Mato Grosso to the port of Santos reported to be record high, due to lack of trucks with record crops and higher imported fuel costs, due to the weak BRL, which is lowering corn price paid to farmers

- US EPA set the total Renewable Fuel Standard (RFS) for 2016 at 18.11 billion gallons, up from its initially proposed 17.40 billion gallons and vs. 16.93 in 2015. As expected, EPA raised its usage requirement for corn-based ethanol by 500 million gallons to 14.5 billion gallons for 2016 (14.05 in 2015)

- ABARES trimmed its estimate of Australia's 2015/16 barley crop to 8.182 MMT from previous forecast of 8.623 MMT, but still above vs. 8.014 MMT in 2014/15

- ABARES lowered its estimate of Australia's 2015/16 oat crop to 1.221 MMT from previous forecast of 1.409 MMT, but still above last year's crop of 1.087 MMT

- ABARES raised its forecast of grain sorghum crop to 2.214 MMT from previous estimate of 2.029 MMT, and now above last year's crop of 2.104 MMT

SOYBEAN

- US soybean export inspections for week, ending Nov 26, reported 1,835,072 MT, topping the range of market forecasts (1.45-1.75 MMT). Inspections for the 2015/16 marketing year are running 7.3% behind year-ago

- Argentine Ag Min said soybeans are 43% planted compared to 45% last year

- ABARES decreased its forecast of Australia's 2015/16 canola (rapeseed) crop to 2.985 MMT from previous forecast of 3.149 MMT in September and 13.8% down from 3.464 MMT in 2014/15

- US EPA set its mandate for biomass based diesel at 1.9 billion gallons for 2016, also up slightly from 1.8 billion gallons in its original proposal and vs. 1.73 in 2015. Looking ahead to 2017, EPA set the biodiesel blending mandate at 2.0 billion gallons, up 100 million gallons from its initial proposal