WHEAT

- Russia's Ag Min has proposed the government to reduce or cancel its wheat export tax set at 50% of the price minus 6500 RUR/mt due to ruble volatility (ruble falling 6% this month) and a decline in global wheat benchmarks

- Rosselkhoznadzor estimated Russian grain exports between Jul 1- Dec 21, 2015 at 20.98 MMT (incl. 14.7 MMT of wheat) compared with 23.74 MMT (16.52 MMT) in Jul 1- Dec 31 of 2014

- Dec 22 - Russia bought 53,325 MT of intervention grain (51,435 MT of wheat and 1,890 MT of rye) via tender on the NTB (Moscow Exchange). Making the total bought since Aug 20 at 1.269 MMT of Russian grain (1,233,360 MT of wheat, 15,120 MT of rye and 20,520 MT of barley)

- Agritel forecasts 2016 Ukrainian wheat crop at 17.2 MMT (16.4-18.1 MMT - range) vs. 26 MMT this year. The consultancy estimated the harvested area would decline to 4.65 million hectares, from 6.75 million this year. Agritel projected the average yield at 3.7 mt/ha, down from 3.85 mt/ha in this year's harvest

- US wheat export inspections for week, ending December 17, recorded 475,375 MT, topping the range of market forecasts (200-350 TMT). Inspections for 2015/16 are running 13.7% behind year-ago

- Members of the WTO last week signed deals that would ban agricultural export subsidies

CORN

- US corn export inspections for week, ending Dec 17, reported 718,888 MT, well above analysts' estimates (400-550 TMT). Inspections for 2015/16 are running 22.3% behind year-ago

- China imported 464,949 MT of distillers dried grains (DDGs) in November, which was a 30% decrease from October but a 140% increase from the year prior. Cumulative Jan-Nov imports of 6.4 MMT stand 18.8% above last season's pace. China also doubled ethanol imports from Oct at 135,858 MT in Nov, up from just 26 MT last year and 68,961 MT last month. The strong imports were thought to be fueled by a short-term shortage of supplies and low ethanol prices in the U.S. and Brazil

- China's November barley imports rose 306.64% on year to 556,805 MT

- China's Jan-Nov barley imports rose 121.93% on year to 10,276 MMT

SOYBEAN

- US soybean export inspections for week, ending Dec 17, reported 1,463,167 MT, in line with trade expectations (1.3-1.6 MMT). Inspections for the 2015/16 marketing year are running 11.7% behind year-ago

- Safras & Mercado lowered its 2015/16 Brazilian soy crop estimate to 97.9 MMT from 101.1 MMT previously due to irregular rains in center-west, northern, northeast grain areas

- China imported more than 7.393 MMT of soybeans during November up 22.68% from year-ago. So far this year, China has imported 72.574 MMT of soybeans, up 15.43% from the year prior. Brazil has been its main supplier (with share almost 54%), with the US getting around 30% of the total business. The US's soybean shipments through the first 11 months of the year are down 2.15% from year-ago

- China's November soy oil imports up 805.11% on year to 90,984 MT

- China's Jan-Nov soy oil imports down 26.71% on year to 802,144 MT

- China's November rapeseed imports down 26.02% on year to 374,092 MT

- China's Jan-Nov rapeseed imports down 9.63% on year to 4,156 MMT

- China's November rapeseed oil imports up 31.22% on year to 106,177 MT

- China's Jan-Nov rapeseed oil imports down 8.91% on year to 708,523 MT

- India imported 1.342 MMT of veg oils (edible & non-edible) in November vs. 1.671 MMT in October and vs. 1.19 MMT a year ago

- India imported 627,404 MT of crude palm oil in November vs. 878,137 MT in October and vs. 712,881 MT a year ago

- India imported 231,672 MT of RBD palmolein in November vs. 228,798 MT in October and vs. 55,815 MT a year ago

- India imported 261,836 MT of soybean oil in November vs. 405,186 MT in October and vs. 121,097 MT a year ago

- India imported 177,658 MT of sunflower oil in November vs.113,499 MT in October and vs. 194,032 MT a year ago

- India imported 24,850 MT of rapeseed oil in November vs.16,024 MT in October and 37,415 MT a year ago

- India's stock of edible oils as of December 1, 2015 at various ports is estimated at 1.02 MMT (CPO 500,000 MT, RBD Palmolein 185,000 MT, Degummed Soybean Oil 155,000 MT, Crude Sunflower Oil 130,000 MT and 50,000 MT of Rapeseed (Canola) Oil) and about 1,410,000 MT in pipelines. Total stock at ports and in pipelines climbed to 2.43 MMT from 2.37 MMT a month ago and vs. last year's 1.96 MMT. India's monthly requirement is about 1.6 MMT

- Ukrainian sunflower seed stocks were at 6.85 MMT as of December 1, up 12% from a year earlier (6.11 MMT). The data does not include sunseed stored at small farms