WHEAT

- Jun 9 - Japan bought 112,689 MT of food wheat for July 21-August 20 shipment:

  • 10,730 MT of western white US wheat;
  • 21,785 MT of hard red winter US wheat;
  • 55,504 MT of Canadian western red spring wheat;
  • 24,670 MT of Australian standard white wheat for October shipment

- Jun 9 - South Korean flour mills (incl. DongAOne Co Ltd) seeks 27,000 MT of US wheat for October shipment from the US PNW:

  • 12,900 MT of western/soft white wheat, max. 10.5% protein;
  • 1,600 MT of western/soft white wheat, max. 8.5% protein;
  • 1,700 MT of hard red winter wheat, min. 11.5% protein;
  • 10,800 MT of northern spring/dark northern spring, min. 14% protein

- Jun 9 - South Korean flour mills (incl. CJ Cheiljedang Corp.) seeks 46,550 MT of US-origin milling wheat for Oct 10-Nov 10 shipment from the US PNW:

  • 17,500 MT of western/soft white wheat, max. 10.5% protein;
  • 1,550 MT of western/soft white wheat, max. 8.5% protein;
  • 12,700 MT of hard red winter wheat, min. 11.5% protein;
  • 14,800 MT of northern spring/dark northern spring, min. 14% protein

- Jun 8 - China auctioned 8,380 MT of imported red winter wheat from its state reserves, or around 17% of the total volume put up for sale

- Egypt returns to zero tolerance of ergot fungus in wheat. Egypt has rejected 30,000 MT of Polish wheat and 10,000 MT of Canadian wheat since April, despite their levels of ergot falling below 0.05%. The Polish wheat was imported by trading firm Venus while the Canadian grain was purchased by Five Star

- FranceAgriMer lowered its French soft wheat stocks forecast from 3.863 to 3.539 MMT at the end of 2015/16, up from 2.521 MMT last year; upped forecasts for export outside the EU to 12.4 MMT from 12 MMT last month (11.368 MMT in 2014/15) and within the EU to 7.518 MMT from 7.258 in May (7.966 MMT in 2014/15)

- IKAR raised its forecast of Russia's 2016 wheat crop by 1 MMT to 64.5 MMT but said protein content in southern area may fall to 11.5% from 12.5%. Total grain production estimate was upped by 0.8 to 108.8 MMT

- SovEcon estimates Russia's 2015/16 grain exports, including flour, at 34.6 MMT, up from a previous record of 30.8 MMT in 2014/15. The group is also expecting the 2016/17 marketing year to kick off with 2.0 to 2.5 MMT of grain exports in July

- Brazil meat industry resorts to wheat as stopgap for scarce corn

- Glencore has agreed to sell a 9.99% stake in its agricultural business to British Columbia Investment Management Corp for $624.9 million. The deal follows the company's sale of a 40% stake in Glencore Agri to Canada Pension Plan Investment Board for $2.5 billion in April, and will leave Glencore with just over a 50% stake in the business

CORN

- Jun 8 - 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 June 15

- Zimbabwean farmers have delivered 35,000 MT of maize to the state grain agency since harvesting started in April, surprising the government which had not expected any deliveries after a devastating drought

- Isolated cases of frost reported early Wednesday over corn areas in Parana. Risks of frost over corn areas in southern of Brazil seen intensifying over weekend

- FranceAgriMer estimated France's 2015/16 corn crop at 13.067 MMT (13.007 MMT – May estimate) vs. 2014/15 record crop of 17.957 MMT with the carryout projected at 2.508 MMT (2.432 MMT – previous) against 2.958 MMT in 2014/15. France's 2015/16 corn export is forecasted at 6.153 MMT (5.976 MMT – previous) vs. 8.246 MMT year ago

- FranceAgriMer trimmed its projection for 2015/16 French barley stocks to 751 TMT from 937 TMT forecast last month (vs. 960 TMT last year). France's 2015/16 barley exports (without malt) is forecasted at 7.755 MMT (7.478 MMT – previous) vs. 6.638 MMT year ago, due to improved demand from third countries with exports outside the EU expected at 4.7 MMT vs. 4.5 MMT last month and 3.635 MMT in 2014/15

- US Ethanol production for the week ended June 3 increased by 46,000 barrels to 1,006,000 barrels per day, close to a record high and up 1.4% from last year's level of 992,000 bpd. Stocks fell by 544,000 barrels from the week prior to 20.225 million barrels, slightly down vs. 20.246 million barrels a year ago

SOYBEAN

- Jun 8 - USDA announced export sales of 132,000 MT of US soybeans to China for delivery during 2015/16