WHEAT

- May 19 - Japan seeks 121,357 MT of food wheat for June 21-July 20 shipment:

  • 6,672 MT of western white US wheat;
  • 28,130 MT of hard red winter US wheat;
  • 33,485 MT of dark northern spring US wheat;
  • 28,720 MT of Canadian western red spring wheat;
  • 24,350 MT of Australian standard white wheat for September shipment

- USDA estimated 62% of the US winter wheat crop good to excellent (G/E) as of May 15, as expected, unchanged from a week earlier and compared to 45% a year-ago

- USDA estimated US spring wheat planting 89% complete as of May 15 compared to 92% last year and a 64% five-year average. It is slightly behind average expectations of 90%

- US wheat export inspections for week, ending May 12, recorded 367,881 MT, near the low end of market forecasts (350-500 TMT). Inspections for 2015/16 are running 11.6% behind year-ago

- Informa Economics estimated US spring wheat area at 11.763 million acres, above the USDA forecast on March 31 of 11.348 million acres. Winter wheat and durum areas are estimated at 36.2 million acres and 2 million acres respectively, so US 2016 all-wheat seeding totaled 50 million acres

- Russia's Ag Min said Russia exported about 31.166 MMT of grain between July 1-May 11, 2015/16, up by 11% from 28.07 MMT a year ago, including:

  • wheat – 22.503 MMT (20.083 MMT a year ago);
  • barley – 4.128 MMT (5.003 MMT);
  • corn – 4.245 MMT (2.536 MMT);
  • others – 290 TMT (448 TMT)

- Argentine wheat exports more than doubled in the first quarter to 3.13 MMT versus 1.53 MMT in the same 2015 period

CORN

- May 16 - Argentina grants export licenses for 35,000 MT of corn and 30,800 MT of barley

- US corn export inspections for week, ending May 12, reported 1,110,600 MT, in line with market expectations (1-1.2 MMT). Inspections for 2015/16 are running 11.6% behind year-ago

- USDA said the US corn crop 75% planted as of May 15, down from 82% last year but above the five-year average of 70%, slightly behind market expectations for 76% complete

- USDA estimated US sorghum planting 33% complete as of May 15, compared to 36% last year and a 36% five-year average

- Informa Economics estimated US corn area at 93.376 million acres, below the USDA forecast on March 31 of 93.601 million acres

- A workers strike in Argentina's largest port of Rosario that started on Friday lasted less than one full day as the government convinced the CGT union and other company officials to resume with 15 days of wage negotiations

SOYBEAN

- Informa Economics estimated the US soybean area at 83.006 million acres, above the USDA prediction of 82.236 million acres

- US soybean export inspections for week, ending May 12, reported 194,627 MT, within trade forecasts that ranged from 100,000 to 250,000 MT. Inspections for the 2015/16 marketing year are running 7.4% behind year-ago

- USDA said the US soybean planting was 36% complete as of May 15, down from 41% a year ago but above the five-year average of 32%, slightly less advanced than expected on average of 38%

- NOPA said its members crushed 147.614 million bushels of soybeans in April 2016, down from 156.69 million bu the previous month and from the 150.363 million bu crushed in the same month last year. The figure marginally below an average of analyst estimates for 147.704 million bu (143-152 – range). Soyoil stocks climbed to 1.943 billion lbs as of April 30 from 1.859 a month earlier, well above expectations of 1.866 billion lbs (1.735-1.925 – range) and last year's level of 1.441 billion lbs. Soymeal exports fell to 769,035 tons from 779,100 tons in March and 799,315 tons a year ago

- Malaysia will raise its crude palm oil export tax to 5.5% in June from 5% in May. Malaysia calculated a reference price of 2,625.18 MYR/mt (654 $/mt) for June