WHEAT

- May 24 - Jordan retenders to buy 100,000 MT of optional origin hard milling wheat for October shipments

- May 19 - Japan bought 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

- May 17 - South Korea's NOFI bought an additional 70,000 MT of optional origin feed wheat at 197.75 $/mt cif for arrival Aug 21 on top of the 65,000 MT previously announced

- May 18 - Argentina grants export licenses for 151,200 MT of low protein wheat and milling wheat

- Egypt has bought 3.25 MMT of local wheat since the start of the local procurement season on April 15. Egypt plans to buy 4 MMT of Egyptian wheat in the 2016 season. The country's local wheat buying season usually ends around July

- Chinese Cofco says they plan to import 1.0-2.0 MMT of Russian wheat this year, and it could grow to 5.0 MMT in coming years

- Blumberg Grain is looking to sign a deal within the coming weeks with Algeria's state grain agency OAIC to build high-tech wheat silos that can store up to 1 MMT of the grain. Algerian government currently has around 2 MMT of local wheat storage capacity

- Egypt's GASC has signed a contract for the import at least 80,000 MT of rice outside of the tender process

CORN

- May 18 - Jordan's state grain buyer bought 100,000 MT of optional origin feed barley from Midgulf International at 184.5 $/mt c&f in two equal consignments for Oct 16-31 and Nov 1-15 shipments

- May 18 - 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 25

- May 18 - Argentina grants export licenses for 56,000 MT of sorghum

- A rare cargo of 40,000 MT of French corn is expected to load for Egypt this week, its first large corn shipment to the country in at least 16 years. It usually cannot compete with big corn exporters, but competitive French prices, paired with short-term supply tightness in the Black Sea region and South America have presented an opportunity for France. It also plans to send 50,000 MT of corn to South Korea this month

- US regulators proposed a modest increase in the amount of corn-based ethanol and biofuels that fuel producers must mix into diesel and gasoline in 2017. EPA raised the 2017 corn ethanol mandate to 14.8 billion gallons, up from 14.5 in 2016, and 14.05 bln in 2015

- US Ethanol production for the week ended May 13 decreased by 14,000 barrels to 948,000 barrels per day, down 1% from last year's level of 958,000 bpd. Stocks declined by 149,000 barrels from the week prior to 21.103 million barrels, up 3.3% vs. 20.434 million barrels a year ago

- German drug and chemicals giant Bayer AG has made an unsolicited takeover offer for Monsanto Co, the world's biggest seed company

- US grain handler Andersons Inc rejected a $1 billion all-cash takeover offer from HC2 Holdings Inc

SOYBEAN

- May 18 - Egypt's FIHC cancelled vegetable oils tender to buy 25,000 MT of crude soyoil and 10,000 MT of crude sunflower oil for June 1-20 arrival. The lowest offers were 794 $/mt for 25,000 MT of soyoil and 856 $/mt for 11,000 MT of sunflower oil from ADM

- May 18 - Argentina grants export licenses for 440,960 MT of soymeal and 32,425 MT of soybean oil

- Argentina could export up to 25% fewer soybeans this year than last, after severe rains left many fields underwater, damaging oilseed quality. Argentina could export between 8.5-9 MMT this season, down from 11.5 MMT in the 2014/15 local season

- Some Argentine soy growers urged the country's government to strike a deal with Monsanto Co. Due to a royalty payment dispute with Argentina for its genetic soybeans Monsanto said it would not sell its newest soy technology, known as Roundup Ready 2 Xtend soybeans, in Argentina, a move that could limit output of the country's main cash crop

- Monsanto Co expects farmers to plant its Xtend soybeans on more than 15 million acres in North America next year, as the seed maker waits for Europe to clear imports of the crop. The company expects the EU to approve imports by late summer or early fall

- Brazil soybean shipments are progressing relatively smoothly, despite record sales volumes. Loading time at key ports of Santos/Paranagua the shortest in 4 years despite record pace, although loading time at 2 other southern ports drastically higher this year

- US EPA came out with the 2017 renewable fuels requirements at 18.8 bln gallons total (18.11 bln in 2016) including 14.8 bln gallons corn based ethanol and 312 mln gallons of cellulosic biofuel and a 2.0 bln gallons biodiesel mandate, a 2018 for biodiesel was set at 2.1 bln gallons