WHEAT

- May 26 - Bangladesh seeks 50,000 MT of optional origin milling wheat. The deadline for offers is May 26, with validity up to June 6, and the wheat is to be shipped within 40 days of the signing of the contract

- May 11 - Taiwan Flour Millers' Association bought 109,965 MT of US milling wheat in two consignments:

  • The first consignment from has an additional charge of 17.5 $/mt for ocean shipping from the US Pacific North West coast to Taiwan for shipment between June 22-July 6:
    • 22,949 MT of dark northern spring wheat (14.5% protein) from CHS at 240.10 $/mt fob;
    • 17,902 MT of hard red winter wheat (13% protein) from ADM at 211.26 $/mt fob;
    • 14,149 MT of soft white wheat (10.5% protein) from CHS at 204.59 $/mt fob.
  • The second consignment from ADM has an additional charge of 17.15 $/mt for ocean shipping from the US Pacific North West coast to Taiwan for shipment between July 6-20:
    • 33,265 MT of dark northern spring wheat (14.5% protein) at 241.65 $/mt fob;
    • 21,700 MT of hard red winter (13% protein) at 209.50 $/mt fob

- May 11 - Japan bought 49,140 MT of feed grain (incl. 35,030 MT of wheat and 14,110 MT of barley) for October 31 arrival via SBS-tender. New SBS tender for 120,000 MT of feed wheat and 200,000 MT of feed barley will be held on May 18

- May 10 - Algeria's OAIC bought around 500,000-550,000 MT of optional-origin milling wheat at 187-188 $/mt c&f for July shipment

- Egypt has bought 1.8 MMT of domestic wheat since the start of the procurement season on April 15

- Conab raised its Brazil's 2015/16 wheat crop estimate from 5.5 to 5.8 MMT

- FranceAgriMer lowered its French soft wheat stocks forecast from 5.451 to 3.863 MMT at the end of 2015/16, up from 2.521 MMT last year; upped forecasts for export outside the EU to 12 MMT from 11.5 MMT last month (11.368 MMT in 2014/15) and within the EU to 7.258 MMT from 7.063 in April (7.94 MMT in 2014/15)

- Crimea exported 10,059 MT of grain in April compared with 13,002 MT in March. Crimea supplied 6,952 MT of wheat to Lebanon and 3,107 MT to Turkey last month. In March, the Crimea region exported 7,001 MT of barley to Cyprus and 6,001 MT of wheat to Lebanon

- Ukraine's state-run grain firm GPZKU has supplied 5,000 MT of Ukrainian wheat flour to Libya, the first such a deal so far in the 2015/16 season. Ukraine has exported 283,780 MT of wheat flour so far this season, mainly to China, Korea, Israel and Moldova, according to Agrochart

- Russian Ag Min estimated spring wheat planting 26.3% (or 3.47 mln ha) done as of May 11 vs. 2.5 mln ha a year ago

- Kazakh farmers planted 604,400 ha of spring cereals crops as of May 11 vs. 563,400 ha a year ago

- USDA forecasts US all wheat production at 1.998 billion bushels, down from 2.052 billion in 2015/16, but above the average expectations of 1.981 billion bushels

- USDA pegged US wheat ending stocks for the 2015/16 crop year at 978 million bushels (976 in April and 981– average trade estimates) and projected the 2016/17 carryout at 1.029 billion bushels (997 million bushels – average estimates)

- USDA projected global wheat production to reach 727 MMT, down 1% (or 7.1 MMT) from the 2015/16 record, but still above consumption for the fourth straight year

- USDA raised 2015/16 world wheat inventories to 242.91 MMT from April estimate of 239.29 MMT and vs. average expectation of 239.77 MMT. Stocks are expected to rise further to a new record of 257.84 MMT in 2016/17 vs. average expectation of 242.98 MMT

CORN

- Conab cut its Brazil's 2015/16 corn crop estimate to 79.96 MMT from its April projection of 84.66 MMT with second crop lowered by 4.22 MMT to 52.91 MMT. Conab expects Brazil to export 28.4 MMT of corn (30.4 MMT – previous forecast)

- Dr. Michael Cordonnier lowered his Brazilian corn crop forecast fifth consecutive week by 1 MMT to 77 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 107.3 to 106.3 MMT and vs. 116.2 MMT in 2014/15

- USDA projected US corn stocks would rise to 2.153 billion bushels by the end of 2016/17. The figure was below the average trade forecast of 2.294 billion, but would be the largest since the 1980s if realized

- USDA projected global corn production in 2016/17 near record at 1,011.1 MMT, up 4.4% from last year's level, with higher forecasts for the US, Argentina, South Africa, EU, Ukraine and India. Global consumption is forecast to rise to a record level

- USDA lowered 2015/16 world corn inventories to 207.87 MMT from April estimate of 208.91 MMT and vs. average expectation of 205.75 MMT. Stocks are expected at a three-year low of 207.04 MMT in 2016/17 vs. average expectation of 211.56 MMT

- Zambia will not export maize from its current harvest until the end of September to ensure that it has enough stocks for local consumption. Zambia would only allow private traders with existing contracts to export maize from old stocks between now and September

- FranceAgriMer estimated France's 2015/16 corn crop at 13.007 MMT (13.101 MMT – Apr estimate) vs. 2014/15 record crop of 17.957 MMT with the carryout projected at 2.432 MMT (2.413 MMT – previous) against 2.958 MMT in 2014/15. France's 2015/16 corn export is forecasted at 5.976 MMT (5.969 MMT – previous) vs. 8.246 MMT year ago

- FranceAgriMer trimmed its projection for 2015/16 French barley stocks to 937 TMT from 1.127 MMT forecast last month (vs. 960 TMT last year). France's 2015/16 barley exports (without malt) is forecasted at 7.478 MMT (7.36 MMT – previous) vs. 6.638 MMT year ago

- Ukraine's Ag Min estimated corn planting 85% (or 3.9 mln ha) done as of May 11 compare to 3.5 mln ha a year ago

- Russian Ag Min estimated spring barley planting 64.6% (or 5.24 mln ha) done as of May 11 vs. 5.0 mln ha a year ago

- Russian farmers planted 1.94 mln ha of maize or 64.8% of planned area as of May 11 vs. 1.74 mln ha a year ago

- South Africa has partnered with Iran to develop desalination plants along all coastal communities to boost water supplies

SOYBEAN

- May 11 - USDA announced export sales of 30,000 MT of US soybean oil to unknown destinations for delivery during 2015/16

- May 10 - USDA announced export sales of 60,000 MT of US soybean oil for delivery during 2015/16 to China (40,000 MT) and to unknown destinations (20,000 MT)

- May 10 - Argentina grants export licenses for 54,503 MT of soymeal

- May 9 - A group of importers in Thailand bought 100,000 MT of soymeal from Brazil in two consignments for October and November shipment

- Abiove cut its forecast for Brazil's nearly harvested soybean crop to 98.6 MMT from 99.7 MMT estimated in April. Abiove maintained its estimate for exports of 55.3 MMT from the crop

- Conab lowered its Brazil's 2015/16 soybean production estimate from 98.98 to 96.91 MMT this month. Conab expects Brazil to export 55.0 MMT of soybeans (55.4 MMT – previous forecast)

- Safras&Mercado estimated the 2015/16 Brazilian soybean crop at 67% sold compared to 60% last year and 65% average. Harvesting came in at 97.5% complete, slightly below 5-yr average of 98.2%

- Dr. Michael Cordonnier cut his Brazil soybean crop forecast by 0.5 MMT to 97.5 MMT (96.2 MMT in 2014/15), but left unchanged Argentine soybean peg at 56 MMT (61.4 MMT in 2014/15)

- Dr. Michael Cordonnier trimmed his estimate of South America's 2015/16 soybean crop to 167.8 MMT from previous estimate of 168.3 MMT and compare to 171.4 MMT in 2014/15

- USDA, in its first S&D forecasts for the 2016/17 marketing year, projected US soybean ending stocks at 305 million bushels, below an average of trade estimates for 405 million

- USDA projected global soybean production in 2016/17 at a record high 324.2 MMT, up 2.6% (or 8.3 MMT) from last year's level, with higher forecasts for South America, India and Ukraine. Global consumption and trade are forecast to rise to the record levels

- USDA lowered 2015/16 world soybean ending stocks to 74.25 MMT from April estimate of 79.02 MMT and vs. average expectation of 76.28 MMT. Stocks are expected at a three-year low of 68.21 MMT in 2016/17 vs. average expectation of 73.23 MMT

- FranceAgriMer estimated France's 2015/16 rapeseed crop at 5.23 MMT vs. 5.498 MMT in 2014/15 with the carryout projected at 50 TMT against 69 TMT in 2014/15. France's 2015/16 rapeseed exports is forecasted at 1.384 MMT vs. 1.568 MMT year ago, mostly to the EU

- FranceAgriMer estimated France's 2015/16 sunseed crop at 1.184 MMT vs. 1.595 MMT in 2014/15 with the carryout projected at 96 TMT against 101 TMT in 2014/15. France's 2015/16 sunseed exports is forecasted at 320 TMT vs. 475 TMT year ago, mostly to the EU

- FranceAgriMer estimated France's 2015/16 soybean crop at 276 TMT vs. 226 TMT in 2014/15 with the carryout projected at 72 TMT against 83 TMT in 2014/15. France's 2015/16 soybean imports is forecasted at 660 TMT vs. 619 TMT year ago

- Ukrainian farmers have sown 4.3 mln ha of sunflower or 84% of planned area as of May 11 vs. 3.4 mln ha a year ago

- Ukraine's Ag Min estimated soybean planting 67% (or 1.4 mln ha) done as of May 11 compare to 1.3 mln ha a year ago

- Russian farmers have sown 3.8 mln ha of sunflower or 54.7% of planned area as of May 11 vs. 3.27 mln ha a year ago

- Russian farmers planted 565,700 ha of soybeans or 25.5% of planned area as of May 11 compare to 586,400 ha a year ago