WHEAT

- Jun 21 - Algeria's OAIC seeks at least 50,000 MT of optional-origin milling wheat for September shipment

- Jun 17 - South Korea's Major Feedmill Group (MFG) bought total of 112,000 MT of European feed wheat:

  • 60,000 MT at 195.25 $/mt c&f plus 1.25 $/mt surcharge for additional port unloading for Aug 15-Sept 15 shipment
  • 52,000 MT at 195.00 $/mt c&f plus 1.25 $/mt surcharge for additional port unloading for Aug 1-20 shipment

- June 21 - China auctioned 13,585 MT of wheat from state reserves or 0.54% of the total 2.5 MMT of wheat on offer

- USDA estimated 61% of the US winter wheat crop good to excellent (G/E) as of June 19, unchanged from a week earlier and compared to 41% a year-ago, matching analysts' forecasts of 61% (60-62% – range). Harvesting of US winter wheat crop was 25% completed as of June 19, ahead of last year's pace of 17% and analysts' forecasts of 23% (19-28% – range) but behind 5-year mean of 28%

- USDA estimated 76% spring wheat crop good to excellent as of June 19, down 3% points from prior week and compared to 71% a year-ago, below analysts' average expectation of 79%

- US wheat export inspections for week, ending June 16, recorded 571,724 MT, topped the market forecasts (250-450 TMT). Inspections for 2016/17 are running 35.7% ahead of year-ago

- MARS lowered its yield forecast for this year's EU's soft wheat to 6.07 mt/ha from 6.11 mt/ha prior month, down 3.4% from last year, but 4.1% above the 5-year average (5.83 mt/ha)

- CME Group plans to launch European Union wheat futures and options on September 12

- Rosselkhoznadzor estimated Russian grain exports between Jul 1-Jun 20, 2015/16 at 36.52 MMT (incl. 23.86 MMT of wheat) compared with 36.39 MMT (22.19 MMT) in Jul 1-Jun 30 of 2014/15

- Russian grain stocks were at 14.2 MMT as of June 1, down 3.1% from a year earlier (14.7 MMT as of June 1, 2015). The data does not include grain stored at small farms

- Ukrainian grain stocks were at 7.98 MMT as of June 1, down 20.4% from a year earlier, incl. 3.867 MMT of wheat (3.969 MMT a year ago), 693 TMT of barley (795 TMT a year ago) and 3.073 MMT of corn (4.814 MMT a year ago). The data does not include grain stored at small farms

- China's May wheat imports up 19.4% on year to 439,108 MT. China's Jan-May wheat imports rose 34.4% on year to 1.298 MMT

CORN

- Jun 21 - South Korea's KFA (Korea Feed Association) seeks up to 130,000 MT of optional origin corn in two equal consignments for Oct 25 and Nov 20 arrivals

- Jun 21 - South Korea's KOCOPIA seeks about 55,000 MT of optional-origin corn for Sep 10 arrival

- US corn export inspections for week, ending June 16, reported 1,235,070 MT, within the market forecasts (1.1-1.4 MMT). Inspections for 2015/16 are running 7.1% behind year-ago

- USDA rated 75% of the US corn crop in good-to-excellent condition as of June 19, unchanged from the previous week and compared to 71% a year-ago, ahead of market expectations of 73% (72-74% - range)

- USDA estimated US sorghum planting 88% complete as of June 19, compared to 81% last year and a 86% five-year average

- Jun 21 - China auctioned 1.14 MMT of corn from state reserves, or 57.55% of the offered amount, and included corn imported in 2011 and 2012, as well as domestic corn produced in 2012. Imported corn was sold at 1,700 RMB/mt (258 $/mt), while domestic corn was sold at an average price of 1,565 RMB/mt

- China imported 1.037 MT of corn last month, up 156.7% from the year-ago level. Of May's total 1.03 MMT came from Ukraine, followed by 6,227 MT from the US. For the first five months of the year, China has imported 2.838 MMT of corn (incl. 2.645 MMT from Ukraine), up 59.6% from year-ago

- China imported 197,007 MT of distillers' dried grains (DDGS) in May, down 25.1% from April and down 59.4% from a year-ago. China's Jan-May DDGs imports fell 12% on year to 1.305 MMT

- China's ethanol imports of 263,388 cubic meters in May were up 1,144.8% from year-ago level, with the US accounting for nearly all of the business. During the first five months of the year China imported 507,932 cubic meters of ethanol up 1,302.4% on year

- China's May barley imports fell 29.4% on year to 513,100 MT. China's Jan-May barley imports dropped 61.1% on year to 1.709 MMT

- MARS upped its yield forecast for this year's EU's corn to 7.35 t/ha from 7.31 mt/ha last month, now up 16.6% from 2015 (6.30 mt/ha) and by 6.1% above the five-year average (6.93 mt/ha)

- MARS lifted its yield forecast for this year's EU's barley (winter and spring) to 5.01 mt/ha from 4.99 mt/ha last month, only marginally down from last year (5.02 mt/ha), but 6.3% above the 5-year average (4.72 mt/ha)

SOYBEAN

- Jun 17 - South Korea's Feed Leaders Committee (FLC) and Major Feedmill Group (MFG) jointly purchased 55,000 MT of South American or Chinese soymeal at 470.50 $/mt c&f plus 1.50 $/mt surcharge for additional port unloading for Oct 22-Nov 10 shipment in a private deal

- Jun 17 - South Korea's KFA (Korea Feed Association) bought 55,000 MT of South American or Chinese soymeal at 467.5 $/mt c&f plus 1.50 $/mt surcharge for additional port unloading for Oct 22-Nov 10 shipment

- Jun 17 - South Korea's KFA (Korea Feed Association) bought 12,000 MT of Indian rapeseed meal at 316.9 $/mt c&f for Aug 22-Sep 10 shipment

- US soybean export inspections for week, ending June 16, reported 314,990 MT, topped the trade forecasts that ranged from 100,000 to 200,000 MT. Inspections for the 2015/16 marketing year are running 7.6% behind year-ago

- USDA said the US soybean planting was 96% complete as of June 19, ahead a year-ago of 89% and the five-year average of 93%, slightly behind the average trade estimates of 97% (95-98% – range). Soybean condition was rated as 73% good to excellent as of June 19, down 1% point from prior week and compared to 65% a year-ago, matching the market expectations of 73% (71-74% – range)

- China imported 7.664 MMT of soybeans during May up 25.1% from year-ago, mostly from Brazil (7.017 MMT) and the US (552,221 MT). China's Jan-May soybean imports up 14.5% on year to 30.998 MMT, incl. 15.672 MMT from the US and 13.979 MMT from Brazil

- China's May soy oil imports rose 217.6% from year-ago levels to 16,576 MT. China's Jan-May soy oil imports rose 139% on year to 144,160 MT

- China's May rapeseed imports down 3% on year to 522,638 MT. China's Jan-May rapeseed imports fell 4.1% on year to 1.73 MMT

- China's May rapeseed oil imports fell by 8.9% on year to 47,459 MT, mainly from Canada. China's Jan-May rapeseed oil imports rose 26.5% on year to 383,849 MT

- China's May rapeseed meal imports up by 83.1% on year to 53,055 MT, from Canada. China's Jan-May rapeseed meal imports rose 99.8% on year to 109,544 MT

- China's May palm oil imports down 60% on year to 194,749 MT, mainly from Indonesia and Malaysia. China's Jan-May palm oil imports fell 15.3% on year to 1.628 MMT

- MARS lowered its yield forecast for this year's EU's rapeseed to 3.24 mt/ha from 3.29 mt/ha last month, down 3.8% from 2015 (3.36 mt/ha) but 1% above the 5-year average (3.2)

- MARS raised its forecast the EU's 2016 average sunflower yield to 2.08 mt/ha from 2.08 mt/ha in May. This is up 10.1% from 2015 (1.88 mt/ha) and 7.1% above the five-year mean (1.94 mt/ha)

- Ukrainian sunflower stocks were at 1.393 MMT as of June 1, down 9.9% from a year earlier. The data does not include grain stored at small farms