WHEAT

- Egypt has purchased 5 MMT of domestic wheat, around 25% more than the targeted amount. The government will end local wheat buying on Wednesday, June 15

- Iran has bought 3.6 MMT of wheat from domestic farmers this year in state-sponsored purchases, an almost 25% increase from the same period last year

- Russia's Ag Min said Russia exported about 33.04 MMT of grain between July 1-June 8, 2015/16, up by 12.3% from 29.415 MMT a year ago, including:

  • wheat – 23.904 MMT (20.869 MMT a year ago);
  • barley – 4.218 MMT (5.217 MMT);
  • corn – 4.594 MMT (2.86 MMT);
  • others – 324 TMT (469 TMT)

- Russia has 3,266,300 MT of grain in its federal intervention fund as of June 10

- Ukraine's Ag Min said Ukraine exported 37.295 MMT of grain between July 1-June 10, 2015/16, including: corn – 16.8 MMT; wheat – 15.941 MMT; barley – 4.32 MMT; others – 231 TMT. Also was exported almost 319 TMT of wheat flour

- USDA raised its estimate of US all wheat production to 2.077 billion bushels from 1.998 billion in May, above the average expectations of 2.014 billion bu

- USDA pegged US wheat ending stocks for the 2015/16 crop year at 980 million bushels (978 in May and 981– average trade estimate) and projected the 2016/17 carryout at 1.05 billion bushels (1.029 in May and 1.045 – average estimate)

- USDA increased global 2016/17 wheat production estimate to the second-highest on record of 730.8 MMT, up by 3.8 MMT from previous estimate due to larger crops in the US, EU and Russia. Global trade is up, but still below last year's record

- USDA raised 2015/16 world wheat inventories to 243.01 MMT from May estimate of 242.91 MMT and vs. average expectation of 242.48 MMT. Stocks are expected to rise further to a new record of 257.84 MMT in 2016/17, unchanged from previous forecast and vs. average expectation of 257.8 MMT

- UK wheat exports slowed in April to 243,134 MT, down from 383,226 MT in March but up 57% from a year-ago, including 84,194 MT to Spain, 35,294 MT to Japan and 27,000 MT to Algeria. Cumulative exports for the season, which started on July 1, 2015, totalled 2.23 MMT, up from 1.73 MMT in the same period during the prior season

- UK wheat imports in April totalled 91,109 MT for a cumulative total for the season-to-date of 1.34 MMT, marginally down from 1.39 MMT in the year earlier period

- Cofco Agri is opening a trading office in the Canadian grain hub of Winnipeg

- Jun 7 - South Korea's Agro-Fisheries & Food Trade Corp bought a total of 70,556 MT of non-glutinous rice for Sep-Feb arrival

- Iran will ban rice imports from July 21, aiming to protect domestic farmers during their harvest

CORN

- Jun 17 - Morocco's ONICL seeks 67,500 MT of barley from the local market. The barley, which could be imported or come from the local harvest, will be redistributed as a subsidized grain. It is the sixth tender in a government plan to subsidise 800,000 MT of barley to support farmers

- Celeres lowered its forecast for Brazil's second annual corn crop by 6.2% to 49.5 MMT from the previous month, saying the rains that returned were insufficient

- USDA trimmed its 2015/16 Brazil corn harvest outlook by 3.5 MMT to 77.50 MMT, below the average trade expectation of 79 MMT (76-81 MMT – range)

- Domestic supplies of corn and soybeans will be tighter than expected in the US as problems with crops in Brazil and Argentina have raised demand for US supplies from overseas buyers

- USDA cut its new-crop and old-crop ending stocks for US corn ¬– for the 2015/16 crop year to 1.708 billion bushels (1.803 in May and 1.772 – average trade estimate) and for the 2016/17 to 2.008 billion bushels (2.153 in May and 2.125 – average estimate)

- USDA raised its 2016/17 global corn production forecast by 0.7 MMT to near record of 1,011.8 MMT, up 4.7% from last year's level, with larger crop for Mexico

- USDA lowered 2015/16 world corn inventories to 206.45 MMT from May estimate of 207.87 MMT but above average expectation of 206 MMT. Stocks are expected at a three-year low of 205.12 MMT in 2016/17 vs. 207.04 MMT forecasted in May and average expectation of 205.18 MMT

- South Africa confirmed two separate cases of African swine fever

SOYBEAN

- Jun 10 - USDA announced export sales of 263,000 MT of US soybeans to unknown destinations for delivery during 2015/16 (203 TMT) and 2016/17 (60 TMT)

- USDA trimmed its 2015/16 Brazil soybean harvest outlook by 2 MMT to 97 MMT, below the average trade expectation of 98.16 MMT (97-99 MMT – range)

- USDA cut its new-crop and old-crop ending stocks for US soybeans ¬– for the 2015/16 crop year to 370 million bushels (400 in May and 385 – average trade estimate) and for the 2016/17 to 260 million bushels (305 in May and 289 – average estimate)

- USDA trimmed its forecast of global soybean production in 2016/17 by 0.5 MMT to a record of 323.7 MMT, due to lower crop in Ukraine

- USDA lowered 2015/16 world soybean ending stocks to 72.29 MMT from May estimate of 74.25 MMT and vs. average expectation of 72.73 MMT. Stocks are expected at a three-year low of 66.31 MMT in 2016/17 vs. May forecast of 68.21 and average expectation of 66.67 MMT

- USDA attaché projects China 2016/17 soybean imports at 85 MMT, below USDA's official estimate of 87 MMT

- Oil World raised its projection of global 2016/17 sunseed production to a new record of 45.3 MMT, 8% above this season's volume. The biggest increases are seen in Russia and Ukraine, pushing production in the CIS countries to 24.0 MMT