WHEAT

- Apr 26 - South Korea's Samyang Corp, Donga-one, Korea Flour Mills and Daesun Flour Mills bought 24,000 MT of US wheat from CHS for September shipment:

  • 8,300 MT of western/soft white, max.10.5% protein, at 196.87 $/mt fob;
  • 1,300 MT of western/soft white, max. 8.5% protein, at 215.24 $/mt fob;
  • 5,500 MT of hard red winter, min. 11.5% protein, at 204.22 $/mt fob;
  • 8,900 MT of (dark) northern spring, min. 14% protein, at 232.51 $/mt fob

- Apr 26 - South Korea's DongAOne, Samyang Corp, Korea Flour Mills and Daesun Flour Mills bought from CBH a total of 35,000 MT of Australian wheat (30,000 MT of Australian standard white and 5,000 MT of Australian hard) for Oct 15-Nov 15 shipment

- Apr 26 - Jordan again cancelled a tender to buy 100,000 MT of wheat

- Apr 26 - Argentina grants export licenses for 20,000 MT of low protein wheat

- Apr 27 - Japan received no offers for 120,000 MT of feed wheat and 200,000 MT of feed barley in a simultaneous buy and sell (SBS) auction. New SBS tender for the same amounts for each grain will be held on May 11

- Egypt has purchased 99,646 MT of local wheat from farmers since the start of the season on April 15. Egypt is planning to buy 4 MMT of domestic wheat in the local season

- Morocco will retain its 30% customs duty on imported soft wheat until the end of the year to ensure adequate supplies for the domestic market

- MARS raised its yield forecast for this year's EU's soft wheat to 6.11 mt/ha from 5.96 mt/ha last month, still down from last year, but now 4.9% above the 5-year average

- Russia's Ag Min said Russia exported about 29.951 MMT of grain between July 1-Apr 20, 2015/16, up by 9.5% from 27.359 MMT a year ago, including:

  • wheat – 21.76 MMT (19.837 MMT a year ago);
  • barley – 4.04 MMT (4.883 MMT);
  • corn – 3.885 MMT (2.203 MMT);
  • others – 266 TMT (436 TMT)

- SovEcon expects Russia exports 2.5 MMT of grains in April, a record volume for the month. SovEcon sees Russia's 2015/16 grain exports at 34.5 MMT, including 23.5-23.8 MMT of wheat (incl. flour)

- Russia has 3,224,800 MT of grain in its federal intervention fund as of April 22

- May 3 - South Korea's Agro-Fisheries & Food Trade Corp is seeking 58,111 MT of non-glutinous rice for Sept-Nov arrival from any destination

- Vietnam will export an estimated 2 MMT of the rice in the first four months of 2016, up 8.6% from a year ago

CORN

- May 3 - Morocco's ONICL seeks 64,500 MT of barley from the local market. The barley, which could be imported or come from the local harvest, will be redistributed as a subsidized grain. It is the fifth tender in a government plan to subsidise 800,000 MT of barley to support farmers

- Apr 26 - Argentina grants export licenses for 63,000 MT of barley and 15,000 MT of corn

- Dr. Michael Cordonnier lowered his Brazilian corn crop forecast third consecutive week, now by 3 MMT to 79 MMT (85.4 MMT in 2014/15), but left unchanged Argentine corn peg at 25 MMT (27 MMT in 2014/15)

- Dr. Michael Cordonnier cut his estimate of South America's 2015/16 corn crop this week from 111.3 to 108.3 MMT and vs. 116.2 MMT in 2014/15

- Brazil has given grain trading companies an initial quota of 100,000 MT of tariff-free corn on purchases outside of the Mercosur trade bloc. Import licenses of up to 100,000 MT will be awarded in order of company registration with the ministry

- Brazil's BRF is importing corn from Mercosur countries but does not expect to take advantage of a new quota to buy tariff-free corn from outside the regional trade bloc

- South Africa's Crop Estimates Committee (CEC) released its fourth forecast of domestic corn production for the 2016 crop. CEC trimmed its estimate of corn output this year to 7.054 MMT from 7.065 MMT previously. It would be 29.1% less than last year (9.955 MMT in 2015) and the smallest crop since 2007, but above market expectations (6.7 MMT – average guess, 6.5-6.94 – range)

- CEC cut its forecast of S. Africa's 2016 sorghum crop to 88,500 MT from previous forecast of 92,700 MT (120,500 MT in 2015)

- MARS lowered its yield forecast for this year's EU's corn to 7.06 t/ha from 7.12 t/ha last month, but 2.7% above the five-year average (6.87 mt/ha)

- MARS lifted its yield forecast for this year's EU's barley (winter and spring) to 4.94 t/ha from 4.87 t/ha last month, down 1.6% from last year, but 4.6% above the 5-year average

- SovEcon expects Russia exports 5 MMT of corn between July 2015 and June 2016

- Argentina's corn ethanol producers are ready to increase output by up to 60% depending on how much the government boosts the minimum amount of the fuel required to be used in gasoline

- Iraq reported this week six outbreaks of the highly pathogenic H5N1 bird flu virus that occurred between mid-December and early February in the first occurrence of the disease in 10 years

SOYBEAN

- Apr 26 - Argentina grants export licenses for 170,000 MT of soybeans 390,000 MT of soymeal and 7,300 MT of soybean oil

- China has been actively buying soybean cargos over past weeks

- Dr. Michael Cordonnier cut his Argentine soybean crop forecast by 2 MMT to 57 MMT (60.8 MMT in 2014/15)

- Dr. Michael Cordonnier trimmed his estimate for Brazil soybean crop by 500,000 MT to 98.0 MMT (96.2 MMT in 2014/15). Cordonnier also lowered his soybean crop estimate for Uruguay by 500,000 MT to 2.5 MMT

- Dr. Michael Cordonnier cut his estimate of South America's 2015/16 soybean crop to 169.3 MMT from previous estimate of 172.3 MMT, now below than 171.4 MMT in 2014/15

- Indonesia will set the export tax for crude palm oil at 3 $/mt in May, the first time the country has set an export tax on the commodity since October, 2014. The tax will be changed as the CPO reference price is seen rising to above 750 $/mt

- GAPKI estimated Indonesia's March exports of palm oil and palm kernel oil at 1.74 MMT, down 24% from the previous month. Production of palm and kernel oil was down to 2.32 MMT in Mar from 2.47 MMT in Feb, while stocks in Indonesia fell to 3.02 MMT from 3.44 MMT a month earlier

- CEC slightly upped its forecast of S. Africa's 2016 soybean crop to 694,550 MT from 691,750 MT previously but down 35.1% from 1.07 MMT in 2015

- CEC raised its S. Africa's 2016 sunflower crop forecast to 730,500 MT from 710,500 MT previously, now up 10.2% from 663,000 MT in 2015

- MARS lifted its yield forecast for this year's EU's rapeseed to 3.35 t/ha from 3.31 t/ha last month and now 4.5% above the 5-year average

- MARS left its forecast the EU's 2016 average sunflower yield at 1.95 mt/ha, unchanged from prior month. This is up 12% from 2015 (1.74 mt/ha) and 2.7% above the five-year mean (1.9 mt/ha)