WHEAT

- Iraq has extended the offer deadline in a tender to buy at least 50,000 MT of hard wheat with offers now remaining valid until May 16. The tender had closed on May 8 with offers initially remaining valid up to May 12

- May 12 - Japan bought 127,226 MT of food wheat for June 21-July 20 shipment:

  • 11,055 MT of western white US wheat;
  • 23,750 MT of hard red winter US wheat;
  • 61,711 MT of Canadian western red spring wheat;
  • 30,710 MT of Australian standard white wheat for September shipment

- Egypt has bought 2.1 MMT of local wheat since the start of the procurement season on April 15

- Indonesian importers have this week purchased about 90,000 MT of optional-origin feed wheat, likely from Ukraine, for June shipment in two consignments at around 203 $/mt c&f for shipment to large Indonesian ports and at about 208 $/mt c&f for unloading in smaller ports

- May 11 - Argentina grants export licenses for 44,600 MT of milling wheat and low protein wheat

- May 3 - South Korea's Agro-Fisheries & Food Trade Corp bought 10,000 MT of Vietnamese non-glutinous rice from Posco Daewoo Corp at 441.18 $/mt for Oct 31 arrival

CORN

- May 11 - Argentina grants export licenses for 40,000 MT of corn

- Data from the Brazilian Ag Min showed this week that no US corn arrived in Brazil in the last three months, even after the government eliminated an import tax on shipments from countries outside the Mercosur trade bloc in April. Brazil imported 106,000 MT of corn last month; around 58% of that volume came from Argentina and the rest from Paraguay

- US Ethanol production for the week ended May 6 increased by 39,000 barrels to 962,000 barrels per day, up 5.5% from last year's level of 912,000 bpd. Stocks fell by 949,000 barrels to 21.252 million barrels, up 4.7% vs. 20.299 million barrels a year ago

SOYBEAN

- May 11 - Argentina grants export licenses for 432,700 MT of soybeans; 93,000 MT of soybean oil and 1,449,600 MT of soymeal

- May 18 - Egypt's FIHC seeks up to 25,000 MT of crude soyoil and 10,000 MT of crude sunflower oil for June 1-20 arrival. FIHC has again sought separate offers for immediate payment or for delayed payment in 90 days or 180 days with additional bank interest charges to be paid to the supplier

- Rosario grains exchange lowered its forecast for Argentina's 2015/16 soy harvest to 55 MMT from a prior projection of 59 MMT