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Grain and Veg Oil Highlights June 23, 2016 June 23, 2016

WHEAT

- Jun 23 - Japan bought 119,988 MT of food wheat for July 21-August 20 shipment:

  • 6,735 MT of western white US wheat;
  • 23,340 MT of hard red winter US wheat;
  • 29,075 MT of dark northern spring US wheat;
  • 31,438 MT of Canadian western red spring wheat;
  • 29,400 MT of Australian standard white wheat for October shipment

- Jun 22 - Argentina grants export licenses for 12,000 MT of low protein wheat

- Rainy weather has raised quality concerns with the wheat crop in Russia and Ukraine

- Russian farmers started harvesting of grain. As of June 22 was harvested 364,200 MT of all grains, up from 230,700 MT a year ago. Yields totals 4.91 mt/ha up from 4.54 mt/ha a year ago

- Egypt's local wheat purchases thrown into question amid fraud allegations

CORN

- Jun 22 - South Korea's Feed Leaders Committee (FLC) bought a total of 130,000 MT of yellow corn, probably from the Black Sea region in private deals:

  • 65,000 MT at 209.50 $/mt c&f plus a 1.25 $/mt surcharge for additional port unloading for Sep 21-Oct 10 shipment and arrival around Nov 15;
  • 65,000 MT at 202.30 $/mt c&f plus a 1.25 $/mt surcharge for additional port unloading for Oct 12-31 shipment and arrival around Nov 30

- Jun 22 - South Korea's Major Feedmill Group (MFG) bought total of 463,000 MT of optional origin yellow corn:

  • 69,000 MT at 206.35 $/mt c&f from Cargill for Sep 25 arrival;
  • 69,000 MT at 206.35 $/mt c&f from Cargill for Oct 5 arrival;
  • 65,000 MT at 205.76 $/mt c&f from Concordia for Oct 15 arrival;
  • 65,000 MT at 205.12 $/mt c&f from Concordia for Oct 25 arrival;
  • 65,000 MT at 205.86 $/mt c&f from Concordia for Nov 5 arrival;
  • 65,000 MT at 205.52 $/mt c&f from Concordia for Nov 15 arrival;
  • 65,000 MT at 202.62 $/mt c&f from Concordia for Nov 25 arrival. All seven consignments have an additional 1.25 $/mt surcharge for additional port unloading

- Jun 22 - Jordan's state grain buyer made no purchase in an international tender for 100,000 MT of feed barley. Participation remained low with only three trading houses taking part: Sarels; Olam and Midgulf

- US Ethanol production for the week ended June 17 fell by 51,000 barrels to 962,000 barrels per day, down 3.2% from last year's level of 994,000 bpd. Stocks decreased by 72,000 barrels from the week prior to 21.11 million barrels, up 6.4% vs. 19.84 million barrels a year ago

SOYBEANS

- Jun 22 - Argentina grants export licenses for 25,000 MT of soybeans; 19,725 MT of soybean oil and 14,680 MT of soymeal

- France's National Assembly scrapped plans for an additional tax on palm oil, after the government said it would propose a new tax scheme for vegetable oils used in food