WHEAT

- May 31 - Jordan seeks 100,000 MT of optional origin hard wheat

- May 26 - The lowest offer in Bangladesh's tender for 50,000 MT of wheat came in at 233.89 $/mt CIF liner out from Aston

- May 26 - Japan bought 125,049 MT of food wheat for June 21-July 20 shipment:

  • 12,990 MT of western white US wheat;
  • 19,670 MT of hard red winter US wheat;
  • 32,724 MT of dark northern spring US wheat;
  • 30,075 MT of Canadian western red spring wheat;
  • 29,590 MT of Australian standard white wheat for September shipment

- May 25 - Israeli group bought 20,000 MT of Ukrainian feed wheat at 172.25 $/mt c&f for Aug-Sep shipment

- South Africa will probably increase wheat import duty by 30% to 1,591.4 ZAR/mt (102 $/mt) from current level of 1,224.31 ZAR/mt

- Egypt's Supply Minister said the local wheat purchasing season which started April 15 would end mid-June

- Weekly US wheat export sales data for week ended May 19 totaled 344,600 MT, incl. net sales cancellations of 9,900 MT for 2015/16 (below trade expectations of 0-200 TMT) and 354,500 MT for 2016/17 (within trade expectations of 300-500 TMT). Total current marketing-year US wheat export sales are 11% behind the same point last year

- EU in week ended May 20 awarded licenses to import 3,876 MT of Ukrainian wheat under an annual duty-free quota. The award meant that the EU had now awarded 946,551 MT or 99.6% out of a total volume of 950,000 MT available in 2016

- EU in week ended May 24 granted licenses to export 740 TMT of soft wheat, bringing the total this season to 28.227 MMT vs. 29.086 MMT a year ago

- UK's Ag Min expects commercial wheat stocks in Britain at the end of the current 2015/16 season (July-June) to total 2.5 MMT, up 3% from a year earlier despite a forecast rise in exports to 2.75 MMT, up 42% from 2014/15

- IKAR raised its forecast for Russian 2016 grain harvest by 2 MMT to 107 MMT

- SovEcon raised its forecast for Russia's 2016 wheat crop to 64 MMT from previously expected 61.1 MMT (61.8 MMT in 2015); the total grain crop forecast was raised to 107 MMT from 105.4 MMT previously (104.8 MMT in 2015)

- SovEcon forecasts Russian 2016/17 grain exports at 35 MMT, which includes a total of 25 MMT of wheat

- International Grains Council (IGC) raised its forecast for world wheat production in 2016/17 by 5 MMT to 722 MMT (still below than 736 MMT in 2015/16), partly reflecting upwardly revisions for crops in the EU, the US and Russia,although Morocco's crop is cut to a nine-year low. Global wheat ending stocks were revised upwards by 5 MMT to 223 MMT (217 MMT in 2015/16)

CORN

- May 26 - USDA announced export sales of 130,000 MT of US corn to Taiwan for delivery during 2015/16 (65 TMT) and 2016/17 (65 TMT)

- May 26 - USDA announced export sales of 123,000 MT of US corn to unknown destinations for delivery during 2015/16

- May 26 - South Korea's Major Feedmill Group (MFG) rejected all offers and made no purchases in an international tender to buy up to 70,000 MT of optional origin corn for Aug10 arrival, citing too high prices. The lowest offer was 203.08 $/mt c&f on a flat price basis and the lowest premium offer was 109.49 cents/bushel over the Chicago September corn contract

- May 25 - Israeli group bought 108,000 MT of US corn for July-August shipment: 54 TMT at a premium of 84.25 cents/bushel c&f over the Chicago December corn futures and other 54 TMT at a premium of 84.5 cents/bushel c&f over the Chicago December corn futures

- May 25 - Israeli group bought 15,000 MT of Ukrainian feed barley at 161.90 $/mt c&f for August-September shipment

- Malawi is in talks with Ukraine, Brazil and Mexico to source corn. Malawi projects a corn requirement of 1.3 MMT to feed citizens facing food shortages through March 2017 and will spend 250 billion kwacha ($353 million) on imports

- Brazil's Ag Min approved sale of 160,000 MT of government held corn stockpiles to help small farmers and ranchers meet their animal feed needs

- Weekly US corn export sales data for week ended May 19 of 1,627,300 MT, incl. 1,381,100 MT for 2015/16 (topped trade expectations of 1.0-1.3 MMT) and 246,200 MT for 2016/17 (just below trade forecasts of 250-450 TMT). Total current marketing-year US corn export sales are 3% behind the same point last year

- EU in week ended May 24 awarded 185 TMT of corn (maize) import certificates, taking the volume so far this season to 12.372 MMT vs. 8.193 MMT a year ago

- EU in week ended May 24 granted licenses to export 106 TMT of corn, bringing the total this season to 1.498 MMT vs. 3.069 MMT a year ago

- EU in week ended May 24 granted licenses to export 6 TMT of barley, bringing the total this season to 9.121 MMT vs. 8.369 MMT a year ago

- IGC raised its forecast for world corn production in 2016/17 by 5 MMT to 1003 MMT, up from the prior season's 971 MMT. Maize figures are raised for the US and Argentina, but lowered for China and parts of sub-Saharan Africa. IGC decreased its forecast for 2016/17 global corn carryover by 3 MMT from last month to 205 MMT (205 MMT in 2015/16)

- South Africa's Crop Estimates Committee (CEC) released its fifth forecast of domestic corn production for the 2016 crop. CEC lifted its estimate of corn output this year to 7.161 MMT from 7.054 MMT previously. It would be 28.1% less than last year (9.955 MMT in 2015) and the smallest crop since 2007, but above average market expectations of 6.9 MMT

- CEC kept its forecast of S. Africa's 2016 sorghum crop at 88,500 MT unchanged from previous (120,500 MT in 2015)

- UK's Ag Min expects commercial barley stocks in Britain at the end of 2015/16 to fall by 31% on year to 1.01 MMT. Barley exports were forecast to climb to a 19-year high of 1.90 MMT, up 27% from the prior season

- US Ethanol production for the week ended May 20 declined by 2,000 barrels to 946,000 barrels per day, down 2.4% from last year's level of 969,000 bpd. Stocks fell by 290,000 barrels from the week prior to 20.813 million barrels, up 3.6% vs. 20.097 million barrels a year ago

SOYBEAN

- Pakistan bought 65,000 MT of Black Sea sunseed at 425 $/mt c&f for September shipment

- Weekly US soybean export sales data for week ended May 19 of 606,800 MT, incl. 456,800 MT for 2015/16 (within trade expectations of 300-500 TMT) and 150,000 MT for 2016/17 (below trade expectations of 300-500 TMT). Total current marketing-year US soybean export sales are 5% behind the same point last year

- Argentine Ag Min says farmers have sold 40% of their new crop soybeans against 38% sold this time a year ago

- Soybeans gain support on concerns over production shortfalls in Argentina. Flooding in Argentina has cut into the country's expected soybean output by 4-8 MMT. Crop estimates now range from 52 MMT to 56.5 MMT. About 70% of the 2015/16 crop has been collected, versus 90% at this point last season

- China sold 131,000 MT of rapeoil out of reserve stocks in auction of 147,000 MT

- IGC lifted its global 2016/17 soybean production forecast by 1 MMT to 320 MMT; but cut its 2015/16 world soybean production forecast by almost 5 MMT to 314 MMT, reflecting the impact of poor weather in South America. They lowered global 2016/17 soybean carryover by 3 MMT from last month to 29 MMT (34 MMT in 2015/16)

- CEC upped its forecast of S. Africa's 2016 soybean crop to 728,650 MT from 694,550 MT previously but down 31.9% from 1.07 MMT in 2015

- CEC raised its S. Africa's 2016 sunflower crop forecast to 742,750 MT from 730,500 MT previously, now up 12% from 663,000 MT in 2015