WHEAT

- Dec 10 - Ethiopian government seeks 70,000 MT of optional origin milling wheat in two consignments of 35,000 MT. Shipment was sought 30 days after the opening of the letter of credit

- Dec 10 - Japan bought 119,165 MT of food wheat for Jan-Mar shipment:

  • 39,720 MT of western white US wheat
  • 13,015 MT of hard red winter US wheat
  • 29,655 MT of Canadian western red spring wheat
  • 36,775 MT of Australian standard white

- Philippine bought 55,700 MT of Australian feed wheat from InVivo at 223.5 $/mt c&f for March shipment

- USDA raised global 2015/16 wheat production estimate to around 735 MMT, up by 1.9 MMT from previous estimate, due to bigger crops in Canada (+1.6 to 27.6 MMT) and EU (+0.4 MMT to 157.7 MMT). Estimates of exports are raised for Argentina (+1 to 6.5 MMT), Canada (+0.5 to 21 MMT) and Ukraine (+0.5 to 15.5MMT), but lowered for the EU (-1 to 32.5 MMT). USDA raised its outlook for world ending stocks of wheat by 2.6 MMT to a new record of 229.86 MMT (212.07 in 2014/15), well above market forecasts (226.43 – avg. guess, 224.00-228.73 - range), largely due to increase in Canada and the EU

- Ukraine's Ag Min raised country's 2016 grain harvest forecast to more than 61 MMT from 60.5 MMT due to improving winter wheat conditions. A few weeks ago, more than 30% of the crop was in poor state, while now the acreage of poor crop is not more than 17%

- FranceAgriMer left its forecast of France's 2015/16 soft wheat ending stocks almost unchanged at 5.22 MMT (5.18 MMT– previous) and vs. 2.52 MMT in 2014/15. The office also maintained its forecast for French soft wheat exports outside the EU in 2015/16 at 11.5 MMT, up from 11.4 MMT shipped last season, but several factors could hit sales in the coming months. France has the potential to export between 300,000 and 500,000 MT of wheat to Indonesia this season

- Japan's weather bureau said El Nino is at its peak now and there is a strong possibility it would stretch into spring but weather would return to normal by summer

- Dec 9 - South Korea's Agro-Fisheries &Food bought a total of 55,555 MT of non-glutinous rice for March and April arrival:

  • 10,000 MT of Chinese Brown Short rice from Daewoo Int'l Corp at 888.00 $/mt
  • 12,000 MT of Chinese Brown Short rice from Sinsong Food Corp at 889.98 $/mt
  • 11,333 MT of Chinese Brown Short rice from Daewoo Int'l Corp at 890.00 $/mt
  • 10,000 MT of US Brown Medium rice from Philasun Co Ltd at 714.64 $/mt
  • 5,555 MT of US Brown Medium rice from Philasun Co Ltd at 712.64 $/mt
  • 6,667 MT of US Brown Medium rice from Philasun Co Ltd at 718.34 $/mt

- Philippines to import extra 300,000-400,000 MT of rice

CORN

- Dec 9 - Jordan bought 50,000 MT of barley from Ameropa at 213 $/mt c&f for shipment during the first half of April

- USDA lowered its 2015/16 global corn production estimate by 1 MMT, with smaller forecasts for India and South Africa, more than offsetting bigger crops in Canada. USDA projects global corn production in 2015/16 at 973.9 MMT vs. 1,008.8 MMT in 2014/15. Exports are raised for Brazil and Canada, but lowered for the US and India. USDA slightly lowered its global 2015/16 world corn stock estimate to 211.85 MMT from November estimate of 211.91 MMT, within the range of expectation 209-214 MMT (212.08 MMT- avg.) and vs. last year's stocks of 208.19 MMT

- USDA raised its outlook for domestic corn supplies by 25 million bushels, more than analysts were expecting, due to weakening export demand. Corn ending stocks for the 2015/16 marketing year were pegged at 1.785 billion bushels, up from the government's November projection of 1.760 billion. Analysts were expecting corn ending stocks of 1.768 billion bushels. USDA cut its outlook for US corn exports by 50 million bushels to 1.750 billion. It noted increased export demand for Canadian and Brazilian corn on the world market. A year ago, US corn exports totaled 1.864 billion bushels

- US Ethanol production for the week ended Dec 4 rose by 37,000 barrels to 993,000 barrels per day, it is slightly above last year's level of 988,000 bpd. Stocks declined by 168,000 barrels to 19.829 million barrels, but still up 11.7% vs. 17.75 million barrels a year ago

- FranceAgriMer forecasts France's 2015/16 corn crop at 12.85 MMT (12.99 MMT – Nov estimate) vs. 2014/15 record crop of 17.95 MMT with the carryout projected at 2.82 MMT (2.34 MMT – previous) against 2.96 MMT in 2014/15. France's 2015/16 corn exports is forecasted at 5.56 MMT (5.67 MMT – previous) vs. 8.26 MMT year ago

- FranceAgriMer lowered its estimate of France's 2015/16 barley crop to 12.51 MMT (12.54 MMT – previous) vs. 11.67 MMT in 2014/15 with the carryout projected at 2.17 MMT (1.98 MMT – previous) against 0.96 MMT in 2014/15. France's 2015/16 barley exports (without malt) is forecasted at 6.28 MMT (6.61 MMT – previous) vs. 6.65 MMT year ago, as demand from China weakens

- Louis Dreyfus Commodities and Cargill won an auction on Wednesday to operate a grain terminal at Santos Port, Brazil, for 25 years

SOYBEAN

- USDA decreased its forecast of global soybean production in 2015/16 by 0.9 MMT to 320.1 MMT (319 MMT in 2014/15), as a lower estimate for India more than offsets higher crops in Canada, Ukraine, and Russia. Exports are raised on higher shipments from Argentina, Serbia and Ukraine, more than offsetting reductions for Bolivia and India. Global stocks are lowered this month, reflecting smaller crops as well as higher global crush. USDA decreased its forecast of global 2015/16 soybean stocks to a still record 82.58 MMT, down 0.3 MMT from Nov and below market expectation (82.64 – avg. guess, 81-84 – range)

- MPOB estimated Malaysian crude palm oil production in November at 1.653 MMT vs. 2.037 MMT in October with stocks at 2.908 MMT up 2.6% on month and above the market expectations of 2.84 MMT. Malaysian November palm oil exports was at 1.499 MMT, down 12.4% on month and below the average expectation of 1.56 MMT

- Surveyor Intertek Testing Services estimated Malaysia's Dec 1-10 palm oil exports at 280,444 MT down 35.5% from a month ago

- Surveyor SGS estimated Malaysia's Dec 1-10 palm oil exports at 298,587 MT down 33.7% from a month ago