WHEAT

- Russia's Ag Min said Russia exported about 17.798 MMT of grain between July 1-Dec 9, 2015, down by 6.1% from 18.961 MMT a year ago, including:

  • wheat – 13.387 MMT (15.096 MMT a year ago)
  • barley – 2.819 MMT (2.756 MMT)
  • corn – 1.443 MMT (892 TMT)
  • others – 147 TMT (217 TMT)

- Rosselkhoznadzor estimated Russian grain exports between Jul 1- Dec 14, 2015 at 20.13 MMT (incl. 14.19 MMT of wheat) compared with 23.74 MMT (16.52 MMT) in Jul 1- Dec 31 of 2014/15

- Russia bought 1,141,695 MT of Russian grain (1,108,350 MT of wheat, 12,825 MT of rye and 20,520 MT of barley) between Aug 20-Dec 9 via tenders on the NTB (Moscow Exchange). Separately Russia bought 59,046 MT of Crimean wheat in intervention fund between Aug 19-Dec 9 via tenders on Crimean Exchange

- Russia has 2.219 MMT of grain in its federal intervention fund as of December 10

- Russian farmers have harvested 108.7 MMT of grain (incl. 64.0 MMT of wheat, 18.3 MMT of barley and 12.9 MMT of corn) as of Dec 11, down from 110.4 MMT (incl. 62.3 MMT of wheat, 21.2 MMT of barley and 11.2 MMT of corn) a year ago. Yields were at 2.47 mt/ha, down from 2.52 mt/ha a year ago. While 95.4% (or 16.3 mln ha) of winter crops were planted as of Dec 11 vs. 16.8 mln ha year ago

- Ukrainian farmers have planted winter crops at 6.7 mln ha (91% of plan), incl. wheat on 5.68 mln ha (92% of plan) as of Dec 11. Favorable weather has improved the condition of Ukrainian winter grain crops sown for the 2016. The area of sprouted crops rose to 86% as of Dec 10 from 83% week ago, but still down from 95% last year. About 67% of emerged crops were in good to satisfactory condition as of Dec 10 slightly up from 66% as of Dec 3, but down from 82% last year

- Ukraine's Ag Min said Ukraine exported 18.71 MMT of grain between July 1-Dec 11, 2015, up 12.8% from 16.582 MMT for the same period last year, including:

  • wheat – 9.341 MMT (vs. 7.674 MMT a year ago)
  • barley – 3.853 MMT (vs. 3.406 MMT)
  • corn – 5.405 MMT (vs. 5.315 MMT)
  • others – 111 TMT (187 TMT)

- Kazakhstan's grain stocks as of December 1, 2015 accounted 15.871 MMT, including 11.637 MMT of milling wheat vs. 14.873 MMT (incl. 11.149 MMT of milling wheat) a year ago

- USDA projects US farmers will plant 53.0 million acres to wheat in 2016/17 (54.6 mln in 2015/16), with yields at 45.9 bu. per acre for a 2.060 billion bu. crop. It expects ending stocks to hit 928 million bu. next season, resulting in a national average on-farm cash price of around 4.40 $/bu.

- USDA next month will tighten regulations for field trials of genetically modified wheat

- Cocereal raised its estimate of the EU 2015 soft wheat crop to a record high 150.3 MMT, up 2.1 MMT from its estimate last quarter and above last year's 148.5 MMT

- CONAB lowered Brazil's 2015/16 wheat production estimate to 5.6 MMT from 6.2 MMT previously

- Rosario grains exchange raised Argentine 2015/16 wheat crop forecast to 9.6 MMT from 9.4 MMT last month

- Philippines will buy less rice than planned on weaker El Nino effect. Philippines' state grains procurement agency, National Food Authority (NFA), said it expects to sign new rice import deals in January to ensure adequate domestic supply of the grain amid worries of drier weather in the first quarter

- Thailand's Ministry of Commerce said it expects the country to export 9 MMT of rice in 2016, lower than the 10 MMT forecast for 2015, because dry weather, which hit several rice-growing provinces this year, would impact rice output next year

CORN

- Ukrainian farmers have harvested 60.7 MMT of grain from 99% of the sown area (14.56 mln ha of 14.6 mln ha planed) as of December 11 vs. 64.1 MMT a year ago. The yield averaged 4.17 mt/ha compared with 4.39 mt/ha in 2014. Ukraine threshed 22.9 MMT of corn from 99% (4 mln ha) of the sowing area with yields of 5.67 mt/ha vs. 27.5 MMT with yields of 6.02 mt/ha a year ago

- USDA on Friday forecast that US farmers will raise their corn plantings and cut back on their soybean acreage in the 2016/17 marketing year. USDA projects farmers will plant 90.5 million acres to corn in 2016/17 (88.4 mln in 2015/16) with a national average yield of 168.1 bu. per acre for a 13.900 billion bu. crop. It pegs 2016/17 ending stocks at 1.755 billion bushels. USDA expects a national average on-farm cash price of around 3.60 $/bu. in 2016/17

- Rosario grains exchange maintains its Argentine 2015/16 corn crop forecast at 20.2 MMT

- Cocereal lowered its EU 2015 corn crop peg by 1 MMT from September to 58.5 MMT, which is down sharply from last year's record of 75.0 MMT

- JCI says China will sell corn from Reserve in early 2016 but may have to sell down to around 1500 RMB/mt compared to current (as of Dec 11) May futures of 1886 RMB/mt

- Two chemical and agricultural giants, Dow Chemical and DuPont, have agreed to combine in a $68.6 billion deal that would make it the 18th largest merger ever. The combined company would be called DowDuPont and would have a combined market value of about $130 billion. After completing the deal, DowDuPont would split into three companies — one focused on agriculture, one on material science and one on specialty products

SOYBEAN

- Dec 10 - South Korea's KFA bought 52,000 MT of South American soymeal from Bunge at 332.50 $/mt c&f with a 1.5 $/mt surcharge for additional port unloading for Aug 20 arrival

- Oil World estimates Brazil soybean production at 97.0 MMT for early 2016, but citing relatively high risk of a lower crop

- USDA projects US farmers will plant 82.0 million acres to soybeans in 2016/17 (83.2 mln in 2015/16), with a national average yield of 46.7 bu. per acre for a 3.785 billion bu. crop. The department projects ending stocks at 421 million bushels. USDA also anticipates a national average on-farm cash price of around 8.65 $/bu. in 2016/17

- Rosario grains exchange maintains its Argentine 2015/16 soybean planting forecast at 20.5 mln ha, which could result in a harvest of 55 MMT

- Indian government is considering 5% increase in the import duty on edible oil to protect local farmers from rising imports. In September, the government already increased the import tax on crude edible oils from 7.5 to 12.5% and on refined edible oils - from 15 to 20%

- Oil World says Indian oilseed production will fall this season to the lowest level in 11 years - to only 30.3 MMT, down 1.9 MMT from last season and 4.8 MMT below the five-year average. As a result, imports of vegetable oils will be boosted to a new record of 15.4 MMT, up steeply from 14.26 MMT last season and 11.66 MMT in 2013/14

- China sold 57% of the 63,877 MT of rapeseed oil offered from state reserves last week as the government restarts its regular weekly sales. Beijing is holding about 5.8 MMT of rapeseed oil in reserves following years of stockpiling

- Oil World estimated Chinese oilseed production this season at only 43.95 Mn T (down 4.3 MMT from last season and 8 MMT below the five-year average), of which soybeans 10.5 MMT and rapeseed 9.5 MMT

- Russian farmers have harvested 9.5 MMT of sunflower seed from 6.5 mln ha (95.3%) with yields of 1.47 mt/ha as of Dec 11 vs. 8.8 MMT, 6.4 mln ha and 1.37 mt/ha a year ago