WHEAT

- Jul 1 - Argentina grants export licenses for 40,210 MT of milling wheat

- Russia's Ag Min said Russia exported about 33.799 MMT of grain between July 1-June 29, 2015/16, up by 10.8% from 30.508 MMT a year ago, including:

  • wheat – 24.53 MMT (21.703 MMT a year ago);
  • barley – 4.227 MMT (5.304 MMT);
  • corn – 4.697 MMT (3.012 MMT);
  • others – 345 TMT (489 TMT)

- Russia has 3,266,300 MT of grain in its federal intervention fund as of July 1

- Russian farmers harvested 4.86 MMT of all grains as of July 1, up from 1.6 MMT a year ago. Yields totalled 4.24 mt/ha up from 3.74 mt/ha a year ago

- Ukraine's Ag Min said Ukraine exported 39.059 MMT of grain between July 1-June 29, 2015/16, up by 12.2% from 34.805 MMT a year ago, including:

  • wheat – 16.735 MMT (10.883 MMT a year ago);
  • flour, in grain equivalent – 331 TMT (263 TMT);
  • corn – 17.268 MMT (18.837 MMT);
  • barley – 4.362 MMT (4.455 MMT);
  • others – 234 TMT (257 TMT)

- Informa Economics raised its 2016 US winter wheat crop estimate by 116 million bushels from June to 1.564 billion bu (42.56 MMT). It projects the all wheat crop will total 2.217 billion bushels (60.34 MMT)

- International Grains Council (IGC) raised its forecast for world wheat production in 2016/17 by 6.5 MMT to 728.8 MMT (still below than 735.6 MMT in 2015/16), reflecting upwardly revisions for crops in the US, Russia, Ukraine, the EU and Australia. Global wheat ending stocks were revised upwards by 3.8 MMT to 226.4 MMT (217.2 MMT in 2015/16)

- Czech Statistics Bureau forecasts country's 2016 wheat production at 4.92 MMT, down from 5.27 MMT in 2015

- Egypt's Supply Minister confirmed on Sunday the appointment of Ahmed Youssef as the new vice chairman of state wheat importing body GASC

- Egypt's Supply Minister said a re-count of wheat in privately held silos would be finished in less than a month

- FAO said that higher agricultural productivity and slightly larger crop areas in the coming decade will cover rises in food demand, leading to stable prices and a period of more restrained agricultural markets

CORN

- Jul 1 - Argentina grants export licenses for 13,084 MT of corn

- IGC left its forecast for world corn production in 2016/17 at 1003 MMT unchanged from last month and up from the prior season's 969 MMT. IGC decreased its forecast for 2016/17 global corn carryover by 0.7 MMT from last month to 204.6 MMT (203.6 MMT in 2015/16)

- Brazil's Trade Ministry reported June corn exports at 19,267 MT, down from 26,741 MT in May and below than 136,786 MT in the year ago month. Corn exports totaled a record 12.3 MMT from January through June, up from 5.3 MMT over the same period a year ago

- Brazil's Trade Ministry reported June ethanol exports at 258,119 million liters, up from 119,251 mln liters in May and up from 91,108 mln liters last June

- Informa Economics pegs 2016 US corn crop at 14.531 billion bushels (369.1 MMT) based on an average yield of 167.9 bu per acre

- US total corn consumed for alcohol and other uses was 479 million bushels in May 2016, up 7% from April 2016 but down 5% from May 2015

- US dry mill co-product production of distillers dried grains with solubles (DDGs) was 1.84 million tons during May 2016, up 7% from Apr 2016 but down 1% from May 2015

- US wet mill corn gluten feed production was 333 thousand tons during May 2016, up 9% from Apr 2016 but down 4% from May 2015

- EIA estimated US ethanol production for April at 28.059 million barrels versus 30.812 million barrels in March and vs. 27.91 million barrels a year ago

- EIA reported April ethanol inventory at 20.992 million barrels, which is 1% higher from last year, but down 5.9% from March

- Czech Statistics Bureau forecasts country's 2016 barley harvest at 1.66 MMT, down from 1.99 MMT last year

SOYBEAN

- Jul 1 - USDA announced export sales of 40,000 MT of US soybean oil to China for delivery during 2016/17

- Jul 1 - Argentina grants export licenses for 170,000 MT of soybeans; 607,000 MT of soymeal and 258,500 MT of soybean oil

- Jul 1 - Argentina grants export licenses for 13,700 MT of sunflower meal

- Informa Economics projected the US soybean crop will total 3.892 billion bushels (105.92 MMY) this season, with an average yield of 46.9 bpa

- USDA estimated US May soybean crush for crude oil at 4.826 million short tons (160.9 million bushels), below the average market expectation (4.87 mln tons) but up from 4.745 million tons in April 2016 and up from 4.682 mln tons a year ago. Crude soyoil stocks rose to 2.063 billion lbs as of May 31 from 2.049 in Apr and vs. 1.813 bln lbs in May 2015, while refined oil stocks were at 402,898 million lbs as of May 31 vs. 371,464 in Apr and 376,449 a year ago. May US soy cake and meal stocks fell to 343,411 tons from 365,653 in Apr and 456,016 tons a year-ago

- Brazil's Trade Ministry reported June soybean exports at 7.761 MMT, down from 9.915 TMT in May but up from 9.81 MMT a year ago. Soybean exports over Jan-Jun totaled 38.6 MMT, up from 32.2 MMT in the same six months a year ago. Also Brazil exported 1.565 MMT of soymeal in June versus 1.929 MMT the month before and 1.623 MMT a year ago; and 159,676 MT of soyoil compared to 177,966 MT in May and 132,707 MT a year ago

- IGC trimmed its global 2016/17 soybean production forecast by 0.4 MMT to 319.6 MMT; but cut its 2015/16 world soybean production forecast by 2 MMT to 312.3 MMT, reflecting the impact of poor weather in South America. They lowered global 2016/17 soybean carryover by 0.8 MMT from last month to 27.8 MMT (32.7 MMT in 2015/16)

- Strategie Grains cut its 2016 EU rapeseed crop estimate to 21.24 MMT down 290,000 MT from previous and down 3.1% from the 2015 harvest (21.93 MMT)

- Strategie Grains lowered its 2016 EU sunflower crop estimate to 8.29 MMT from previous estimate of 8.41 MMT, up 8.9% from the 2015 harvest (7.61 MMT)

- Strategie Grains trimmed its 2016 EU soybean crop forecast to 2.38 MMT down 30,000 MT from previous but up 7.2% on year (2.22 MMT in 2015)

- Czech Statistics Bureau forecasts country's 2016 rapeseed harvest at 1.31 MMT, up from 1.26 MMT last year