WHEAT

- Jun 9 - UAE seeks 28,000 MT of wheat (15% protein) in two equal consignments for Oct 5-30 and Dec 15-30 shipment

- Indonesia bought 20,000 MT of Black Sea wheat

- Jun 5 - The lowest offer in Bangladesh's tender for 50,000 MT of wheat came in at 233.17 $/mt CIF liner out from Agro Food. Only one other trader, Olam International, competed for the tender, quoting 249.89 $/mt

- Jun 3 - Taiwan Flour Millers' Association bought 110,905 MT of US milling wheat in two consignments:

  • The first consignment from CHS has an additional charge of 19.8 $/mt for ocean shipping from the US Pacific North West coast to Taiwan for shipment between July 23-Aug 6:
    • 24,735 MT of dark northern spring wheat (14.5% protein) at 241.38 $/mt fob;
    • 16,120 MT of hard red winter wheat (13% protein) at 233.06 $/mt fob;
    • 14,600 MT of soft white wheat (10.5% protein) at 203.12 $/mt fob.
  • The second consignment has an additional charge of 19.6 $/mt for ocean shipping from the US Pacific North West coast to Taiwan for shipment between Aug 7-21:
    • 34,515 MT of dark northern spring wheat (14.5% protein) from CHS at 241.39 $/mt fob;
    • 20,935 MT of hard red winter (13% protein) from ADM at 229.30 $/mt fob

- South Korea's Feed Leaders Committee bought 65,000 MT of EU feed wheat at 193.55 $/mt c&f

- South Korea's Nonghyup Feed Inc (Nofi) bought 60,000 MT of feed wheat at 194 $/mt c&f for delivery by November 25

- Jun 1 - Algeria purchased 430,000 MT of optional origin milling wheat (most likely French) at 190-191 $/mt c&f for August shipment

- Egypt has bought 4.711 MMT of local wheat since the start of the season on April 15. The government had originally set a target of 4 MMT. Procurement would likely end in mid-June. Egypt's wheat harvest runs from April to July

- Russia's Ag Min said Russia exported about 32.695 MMT of grain between July 1-June 1, 2015/16, up by 12.5% from 29.065 MMT a year ago, including:

  • wheat – 23.641 MMT (20.614 MMT a year ago);
  • barley – 4.218 MMT (5.211 MMT);
  • corn – 4.519 MMT (2.775 MMT);
  • others – 317 TMT (464 TMT)

- Russia has 3,266,300 MT of grain in its federal intervention fund as of June 3

- Weekly US wheat export sales data for week ended May 26 totalled 492,400 MT, incl. 107,400 MT for 2015/16 (topped trade expectations of -100-+50 TMT) and 385,000 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

- Informa Economics raised its 2016 US winter wheat crop estimate by 43 million bushels from May to 1.448 billion bu. Informa estimates the HRW wheat crop will total 882 mln bu, SRW wheat - 353 mln bu and WW wheat - 214 mln bu

- China's wheat harvest is estimated to be around 25% complete, covering 5.74 mln ha

- Tuesday China continues their reserve auction, offering 2.533 MMT of wheat

CORN

- Jun 9 - UAE seeks up to 88,000 MT of corn in four equal consignments for Sep-Dec arrival CIF port Zayed

- South Korea's Feed Leaders Committee bought 65,000 MT of US corn at 207.9 $/mt c&f

- South Korea's KFA (Korea Feed Association) bought 65,000 MT of South American or US corn at 207.5 $/mt c&f in private negotiated purchase last week

- South Korea's Nofi bought total of 267,000 MT of the US and South American corn:

  • 65,000 MT of corn from the US or South America at 206.69 $/mt c&f plus 0.75 $/mt surcharge for additional port unloading for Sep 1 arrival;
  • 65,000 MT of corn from the US or South America at 207.52 $/mt c&f plus 0.75 $/mt surcharge for additional port unloading for Sep 10 arrival;
  • 68,000 MT of US corn at a c&f premium of 113 cents/bu over the Chicago December corn contract plus 1.00 $/mt surcharge for additional port unloading for Sep 10 arrival;
  • 69,000 MT of corn from the US or South America at a c&f premium of 113 cents/bu over the Chicago December corn contract plus 1.25 $/mt surcharge for additional port unloading for Oct 1 arrival

- Jun 3 - China auctioned 1.79 MMT of corn from its government stockpile, about 60% of the offered amount. 1.75 MMT of domestically produced corn was sold at an average price of 1,573 RMB/mt (239.7 $/mt) and 34,745 MT of imported corn at an average price of 1,559 RMB/mt

- Weekly US corn export sales data for week ended May 26 of 1,446,800 MT, incl. 1,317,900 MT for 2015/16 (topped trade expectations of 800-1100 TMT) and 128,900 MT for 2016/17 (below trade forecasts of 200-400 TMT). Total current marketing-year US corn export sales are 1% behind the same point last year

- Informa Economics cut its estimate of Brazil's all-corn harvest to 78.9 MMT from 81.0 MMT last month

- Record-high corn prices in Brazil, the world's No. 2 exporter of the grain, are compelling pork producers to slaughter sows they cannot afford to feed and poultry processors to close plants

- France's farm ministry lifted its estimate of the maize (for grain) sowing area for this year's harvest to 1.491 million hectares from 1.487 mln ha previously, down 4.5% from 2015 and 9.5% below the average of the past five years

- France's farm ministry forecasts the country's 2016 winter barley crop at 9.47 MMT, down 0.5% from last year but 23.3% above five-year average

- Niger has reported an outbreak of the highly pathogenic H5N1 bird flu virus among poultry

SOYBEAN

- Jun 3 - Argentina grants export licenses for 20,000 MT of soybean; 15,035 MT of soybean oil and 393,250 MT of soymeal

- South Korea's Nofi bought 50,000 MT of soymeal, likely Chinese origin, at 447.25 $/mt c&f for Oct 1 arrival

- Vietnam bought 10,000 MT of Chinese soymeal

- Weekly US soybean export sales data for week ended May 26 of 1,046,100 MT, incl. 309,400 MT for 2015/16 (within trade expectations of 200-400 TMT) and 736,700 MT for 2016/17 (topped trade expectations of 400-600 TMT). Total current marketing-year US soybean export sales are 5% behind the same point last year

- Informa Economics lowered its figure for Brazil's 2015/16 soybean production to 98.5 MMT from 100.1 MMT previously

- Informa Economics estimates of Argentina's 2015/16 soybean harvest at 55.0 MMT unchanged from the previous

- France's farm ministry forecasts the country's 2016 winter rapeseed output at 5.086 MMT, down 3.7% from last year and 2.0% below five-year average

- Strategie Grains pegged the 2016 EU rapeseed crop at 21.5 MMT, down 100,000 MT from previous outlook and -1.8% below the year earlier crop

- Australian Oilseeds Federation estimates new crop canola production at 3.385 MMT versus 3.098 MMT old crop