WHEAT

- May 3 - Argentina grants export licenses for 57,200 MT of low protein wheat

- Egypt has bought 602,152 MT of domestic wheat since the start of the procurement season on April 15

- Informa Economics raised its forecast of US 2016/17 winter wheat production to 1.405 billion bushels from 1.377 billion previously

- Crop scouts on the first day of the annual three-day tour of Kansas hard red winter wheat fields projected an average yield of 47.2 bushels per acre in the northern portion of the state, up from tour findings of 34.3 bushels a year ago and the highest for the first day of the Wheat Quality Council tour since 2012

- Nebraska Wheat Board expects state's winter wheat yield at 55.0 bushels per acre vs. 38.0 bushels last year

- Colorado Wheat Research Foundation expects state's winter wheat yield at 39.0 bushels per acre vs. 37.0 bushels last year

- Kazakh Ag Min said Kazakhstan exported 7.189 MMT of grain between July 1-April 30, 2015/16 vs. 5.367 MMT a year ago, incl. flour – 2.473 MMT in wheat equivalent vs. 2.023 MT in the same period of 2014/15

- Kazakh farmers planted 477,200 ha of spring cereals crops as of May 4 vs. 355,500 ha a year ago

- USDA attaché forecasts Australian wheat production in 2016/17 at 24 MMT, around the same level as the previous year

- May 3 - South Korea's Agro-Fisheries & Food Trade Corp bought 37,000 MT of non-glutinous rice for arrival between October and November:

  • 12,000 MT of Chinese brown short rice from Posco Daewoo Corp at $867;
  • 10,000 MT of Chinese brown short rice from Sinsong Food Corp at $867.97;
  • 10,000 MT of US brown medium rice from Sinsong Food Corp at $568.39;
  • 5,000 MT of US brown medium rice from Sinsong Food Corp at $568.98

- The Philippines said that drought had caused the country's rice output to drop by about 300,000 MT, or a third higher than its estimate last month

CORN

- Informa Economics cut its estimate of Brazil's all-corn harvest to 81.0 MMT from 83.7 MMT last month. The figure included 27.5 MMT of first-crop corn and 53.5 MMT of second-crop corn

- Agroconsult lowered Brazil's winter corn crop (second-crop) forecast to 52.5 MMT, down 4% from the previous estimate

- Dr. Michael Cordonnier lowered his Brazilian corn crop forecast fourth consecutive week, now by 1 MMT to 78 MMT (85.4 MMT in 2014/15), but left unchanged Argentine corn peg at 25 MMT (27 MMT in 2014/15)

- Dr. Michael Cordonnier trimmed his estimate of South America's 2015/16 corn crop this week from 108.3 to 107.3 MMT and vs. 116.2 MMT in 2014/15

- Informa Economics left its forecast of Argentina's corn crop unchanged at 27.5 MMT

- Zambia's Ag Min raised its 2015/16 maize production forecast to 2.87 MMT from 2.4 MMT in March, now above 2.60 MMT the previous season

- EIA estimated US ethanol production for February at 28.678 million barrels versus 30.319 million barrels in January and vs. 26.788 million barrels a year ago

- China will release 3.05 million kilograms of frozen pork from its reserves over the next two months to combat rising pork prices

SOYBEAN

- May 3 - Argentina grants export licenses for 71,400 MT of soybeans

- Iraq's Etihad Food Industries is actively seeking contracts for the import of crude edible oils ahead of the planned start-up of its refinery early next year. The new refinery, which will have capacity of 1.1 MMT a year, is due to come online by February or March next year. Etihad is looking for multiple origins, including Ukraine, Russia and Argentine, depending on the best offers

- Dr. Michael Cordonnier cut his Argentine soybean crop forecast by 1 MMT to 56 MMT (60.8 MMT in 2014/15), but left unchanged Brazil soybean peg at 98 MMT (96.2 MMT in 2014/15)

- Dr. Michael Cordonnier trimmed his estimate of South America's 2015/16 soybean crop to 168.3 MMT from previous estimate of 169.3 MMT and compare to 171.4 MMT in 2014/15

- Informa Economics lowered its estimate of Argentina's 2015/16 soybean harvest to 55.0 MMT from 59.5 MMT previously

- Informa Economics trimmed its figure for Brazil's 2015/16 soybean production to 100.1 MMT from 100.5 MMT previously

- EIA said US February biodiesel production at 105 million gallons vs. 105 million gallons in January and vs. 78 million gallons a year ago

- EIA said 395 million lbs. of soybean oil used for biodiesel in February (51% of feedstocks used to produce biodiesel) vs. 392 million lbs. in January and vs. 311 million lbs. a year ago