WHEAT

- Philippines feed makers bought 150,000 MT of optional-origin feed wheat, likely Black Sea or EU origin, in three equal consignments at 190.95; 193.5 and 197.8 $/mt c&f for Aug-Oct shipment

- Iraq finally cancelled tender to buy at least 50,000 MT of hard wheat, making no purchase. The lowest offer had been from Invivo for US HRW cargo at 234.5 $/mt c&f free out. The tender closed on May 8 with offers, after a number of extensions, had remained valid up to May 18

- May 19 - Argentina grants export licenses for 70,000 MT of milling wheat and low protein wheat

- China will double its offer of reserved wheat at auction next week to 2.53 MMT

- South Africa made its biggest purchase of US wheat in nearly five years last week. USDA said South Africa bought 45,000 MT of hard red winter wheat (HRW), a variety used primarily for milling bread flour, for delivery during 2016/17

- Weekly US wheat export sales data for week ended May 12 totaled 748,700 MT, incl. 175,200 MT for 2015/16 (within trade expectations of 0-250 TMT) and 573,500 MT for 2016/17 (well above trade expectations of 200-400 TMT). Total current marketing-year US wheat export sales are 11% behind the same point last year

- Lanworth raised its forecast for US's 2016 wheat production to 60.9 MMT

- EU in week ended May 13 awarded licenses to import 7,608 MT of Ukrainian wheat under an annual duty-free quota. The award meant that the EU had now awarded 942,675 MT or 99.2% out of a total volume of 950,000 MT available in 2016

- EU in week ended May 17 granted licenses to export 928 TMT of soft wheat, bringing the total this season to 27.487 MMT vs. 28.439 MMT a year ago

- FranceAgriMer said 86% of soft wheat crops were in good and excellent condition as of May 16, down 1% point from last week and below the year-earlier score of 91%; durum rating at 79% in good to excellent vs. 78% last week and vs. 88% a year ago

- Strategie Grains increased its 2015/16 EU wheat export estimate up to 30.4 MMT and raised forecast for wheat demand in the animal feed sector by 300 TMT to 55.8 MMT, which resulted in reduction 15/16 EU wheat ending stocks estimates by 900 TMT to 14.7 MMT. This contributed to a 1.3 MMT drop for the 2016/17 soft wheat ending stocks forecast to 11.9 MMT. A 2.1-MMT increase in expected animal feed demand and a 150,000-MT rise in exports to 30.7 MMT in 2016/17 outweighed an increase in its forecast for the EU 2016 soft wheat harvest. Strategie Grains raised this year's soft wheat production estimate in the EU by 2 MMT to 146.7 MMT (150.8 MMT in 2015), citing the potential of strong yield prospects across the southern half of Europe

- Russian grain stocks were at 18.6 MMT as of May 1, down 3.3% from a year earlier (19.3 MMT as of May 1, 2015). The data does not include grain stored at small farms

- Russian Ag Min estimated spring wheat planting 53.6% (or 7.069 mln ha) done as of May 19 vs. 5.568 mln ha a year ago

- Kazakhstan's grain stocks as of May 1, 2016 accounted 7.636 MMT, including 4.916 MMT of milling wheat vs. 8.992 MMT (incl. 5.996 MMT of milling wheat) a year ago

- Kazakh farmers planted 4.091 mln ha of spring cereals crops as of May 20 vs. 1.639 mln ha a year ago

- Ukrainian grain stocks were at 10.429 MMT as of May 1, down 19.5% from a year earlier, incl. 4.952 MMT of wheat (4.583 MMT a year ago), 848 TMT of barley (1.003 MMT a year ago) and 4.178 MMT of corn (6.796 MMT a year ago). The data does not include grain stored at small farms

- Ukrainian Ag Min expects the 2015/16 exports at 38 MMT up 3.0 MMT over the previous marketing year

- Lanworth raised its forecast for Russia's 2016 wheat production to 64.6 MMT

- Argentina's Ag Min expects the country to plant 5.3 million hectares of wheat for the 2016/17 (4.37 mln ha in 2015/16), the largest planting in nine years

- Buenos Aires Grain Exchange pegged the country's upcoming 2016/17 wheat crop planting at 4.5 mln ha vs. 3.6 mln ha in 2015/16

- Turkey's Ulusoy Flour Mills is spending $10 million to expand production capacity and aims to export half of its output to Africa and Southeast Asia. Capacity is being expanded by 600 MT to 1,700 MT a day. The project should be completed by March. Turkey is the world's largest wheat flour exporter with 2.8 MMT shipped last year, incl. 1.1 MMT sold to Iraq

CORN

- May 20 - USDA announced export sales of 125,000 MT of US corn to Colombia for delivery during 2015/16

- May 20 - South Korea's KOCOPIA rejected all offers in tender to buy 55,000 MT of corn. The lowest offer was 198.60 $/mt c&f

- May 18 - South Korea's Major Feedmill Group rejected all offers in tender to buy 140,000 MT of optional origin corn for Aug 10-26 shipment, citing too high prices. The lowest price was reportedly at 195.85 $/mt c&f

- May 19 - Argentina grants export licenses for 25,000 MT of corn and 25,000 MT of barley

- Weekly US corn export sales data for week ended May 12 of 2,013,800 MT, incl. 1,473,100 MT for 2015/16 (topped trade expectations of 900-1300 TMT) and 540,700 MT for 2016/17 (well above trade forecasts of 100-300 TMT). Total current marketing-year US corn export sales are 5% behind the same point last year

- Lanworth maintains its 2016 Chinese corn crop forecast at 220 MMT

- EU in week ended May 13 awarded licenses to import 73 MT of Ukrainian barley under an annual duty-free quota, bringing the total to 14,299 MT or 5.7% out of a total volume of 250,000 MT available in 2016

- EU in week ended May 17 awarded 293 TMT of corn (maize) import certificates, taking the volume so far this season to 12.187 MMT vs. 8.027 MMT a year ago

- EU in week ended May 17 granted licenses to export 14 TMT of corn, bringing the total this season to 1.392 MMT vs. 2.943 MMT a year ago

- EU in week ended May 17 granted licenses to export 173 TMT of barley, bringing the total this season to 9.115 MMT vs. 8.013 MMT a year ago

- FranceAgriMer said 84% of France's winter barley crops were in good to excellent condition as of May 16, down 1% point on the prior week and below the year-ago score of 90%. Spring barley rating was at 93% in good to excellent vs. 94% a week ago and vs. 95% a year ago

- FranceAgriMer estimated France's corn planting 91% done as of May 16, still behind last year's pace of 96%

- Lanworth lowered its forecast for the EU 2016 corn production to 67.1 MMT

- Strategie Grains cut its 2016 EU corn crop forecast by 700,000 MT to 62.7 MMT (57.3 MMT in 2015); but boosted its estimate for EU maize stocks at end-September due to higher expected imports, lower demand from animal feed makers and a drop in exports and industrial use. It said EU 2015/16 corn stocks are expected at 8.5 MMT, up by 1.5 MMT since last month, which would leave a surplus of 4.2 MMT, mainly in France and Hungary

- Strategie Grains increased its 2016 EU barley production forecast to 61.5 MMT from last month's 60.5 MMT outlook and now above last year's 60.9 MMT

- Buenos Aires Grain Exchange maintains its 2015/16 Argentine corn crop estimate at 25 MMT (28.2 MMT in 2014/15). Harvesting of Argentine corn crop was 28.3% completed as of May 19, behind of last year's pace of 35.1%

- Argentina's Ag Min increased its forecast for 2015/16 corn production to 37.9 MMT from a prior projection of 37 MMT and vs. 33.8 MMT in 2014/15, incl. corn for fodder

- Buenos Aires Grain Exchange maintains its 2015/16 Argentine sorghum crop estimate at 3.5 MMT, unchanged from 2014/15 crop. Harvesting of Argentine sorghum was 44.8% completed as of May 19, behind of last year's pace of 53.3%

- Argentina's Ag Min expects the country to harvest 3.0 MMT of sorghum this season vs. 3.1 MMT in 2014/15

- Argentina's Ag Min expects the country to plant 1.14 million hectares of barley for the 2016/17, down 22.4% from 1.47 mln ha in 2015/16. Ag Min estimated 2015/16 barley crop at 4.9 MMT vs. 2.9 MMT in 2014/15

- Ukraine's Ag Min estimated corn planting 93% (or 4.203 mln ha) done as of May 19 compare to 4.05 mln ha a year ago

- Russian Ag Min estimated spring barley planting 77.1% (or 6.25 mln ha) done as of May 19 vs. 6.03 mln ha a year ago

- Russian farmers planted 2.332 mln ha of maize or 77.9% of planned area as of May 19 vs. 2.3 mln ha a year ago

- Japan's use of corn in animal feed was at 46.2% in March, steady with the month prior and up 1.7% points from year-ago (44.5% in Mar 2015). Its use of wheat was unchanged from month ago at 1.6% and vs. 1.5% a year ago. Japan's sorghum and barley use are down from year-ago at 2.8% (4.3% in Mar 2015) and 3.4% (3.5%), respectively

- Canada have approved a type of genetically modified salmon as safe to eat, clearing the way for it to be sold in the country

SOYBEAN

- Philippines bought around 90,000 MT of US soymeal at $45 over the December CBOT soymeal contract, C&F, for Oct 11-31 and Nov 5-25 shipments from US PNW

- May 19 - USDA announced export sales of 129,000 MT of US soybeans to China for delivery during 2015/16

- Weekly US soybean export sales data for week ended May 12 of 714,700 MT, incl. 556,400 MT for 2015/16 (topped trade expectations of 300-500 TMT) and 158,300 MT for 2016/17 (within trade expectations of 50-250 TMT). Total current marketing-year US soybean export sales are 5% behind the same point last year

- Buenos Aires Grains Exchange maintains its forecast for 2015/16 Argentine soy crop at 56 MMT, down from 2014/15 (60.8 MMT). Harvesting of Argentine soybean crop was 61.1% completed as of May 19, below last year's pace of 87.5%

- Argentina's Ag Min maintains its 2015/16 soy harvest estimate at 57.6 MMT vs. 61.4 MMT in 2014/15

- Argentina's Ag Min estimated 2015/16 sunseed crop at 3.0 MMT vs. 3.16 MMT in 2014/15

- Ukrainian sunflower stocks were at 2.004 MMT as of May 1, down 6.9% from a year earlier. The data does not include grain stored at small farms

- Ukrainian farmers have sown 4.799 mln ha of sunflower or 92% of planned area as of May 19 vs. 4.191 mln ha a year ago

- Ukraine's Ag Min estimated soybean planting 81% (or 1.659 mln ha) done as of May 19 compare to 1.733 mln ha a year ago

- Russian farmers have sown 5.288 mln ha of sunflower or 76.1% of planned area as of May 19 vs. 4.64 mln ha a year ago

- Russian farmers planted 880,400 ha of soybeans or 39.7% of planned area as of May 19 compare to 930,900 ha a year ago

- Surveyor Intertek Testing Services estimated Malaysia's May 1-20 palm oil exports at 785,757 MT up 6.5% from a month ago

- Surveyor SGS estimated Malaysia's May 1-20 palm oil exports at 792,393 MT up 9.4% from a month ago

- Dorab Mistry has trimmed his palm price projection to 2,600-2,800 MYR/mt from now until July, lower than forecast earlier as output recovers faster than expected and demand is softer. From July onwards, prices could then slip to 2,500 ringgit, but no more. Mistry had previously forecast palm oil prices would hit 3,000 MYR/mt this year

- Cargill Inc is in talks to sell two crushing plants in Western Europe. The assets included a soyabean crushing plant of around 600,000 MT capacity per annum in the Dutch city of Amsterdam, as well as a soyabean and rapeseed crushing plant of around 300,000 MT capacity in Brest, France