WHEAT

- Jul 8 - South Korea's DongAOne and Samyang Corp, Korea Flour Mills, Daesun Flour Mills seek a total of 23,000 MT of US milling wheat for December shipment. The total includes 10,000 MT of DNS wheat, 4,500 MT of HRW wheat and 8,500 MT of soft white wheat

- Jul 7 - Taiwan Flour Millers' Association bought 106,290 MT of US milling wheat for Aug-Sept shipment. They paid 231.25 $/mt fob for DNS wheat, 222.78 $/mt to 229.29 $/mt fob for HRW wheat and 203.11 $/mt fob for white wheat

- Jul 7 - Japan bought 102,631 MT of food wheat for August 21-Sept 20 shipment:

  • 31,969 MT of dark northern spring US wheat;
  • 70,662 MT of Canadian western red spring wheat

- Jul 6 - Israeli group bought 85,000 MT of optional origin feed wheat, possibly Black Sea origin, at 161.50 $/mt c&f for Aug-Oct shipment; 162.20 $/mt c&f for Oct-Nov shipment; and 165.50 $/mt c&f for Nov-Dec shipment

- Jul 6 - Argentina grants export licenses for 50,000 MT of low protein wheat

- EU during Jul 1-5 2016/17 granted licenses to export 209 TMT of soft wheat vs. 467 TMT a year ago. In 2015/16 EU issued export licenses for 31.294 MMT of soft wheat vs. 31.337 MMT in 2014/15

- FranceAgriMer said 59% of soft wheat crops were in good and excellent condition as of July 4, down 6% points from last week and below the year-earlier score of 75%; durum rating at 55% in good to excellent vs. 55% last week and vs. 77% a year ago. French farmers harvested 14% of the durum as of July 4 vs. 6% a week ago and 44% a year ago. They also started harvesting of soft wheat with 1% of the crop cut by July 4, below the 11% harvest progress a year ago

- France exported 1.6 MMT of soft wheat outside the EU in May, the highest monthly volume since the start of the 2015/16 season (incl. 515 TMT to Morocco, 489 TMT to Algeria and 102 TMT to Mexico), with Jul-May 2015/16 France's soft wheat shipments outside the EU at 11.4 MMT, up 12% on the year-earlier period. Total French soft wheat exports, including shipments within the EU, so far this season were up 6% at 18.5 MMT

- Russian farmers harvested 6.41 MMT of wheat from 5.1% of the planned area as of July 7, up from 2.31 MMT a year ago. Yields totaled 4.55 mt/ha up from 3.75 mt/ha a year ago

- FAO raised its 2016 global wheat production estimate to 732.1 MMT, up by 8.1 MMT from the June figure and vs. 734.1 MMT in 2015. The month-on-month upward revision mainly reflects improved prospects in the EU, Russia and the US, as a result of better weather conditions. Forecast of the 2016/17 world wheat inventories was upped to 216.9 MMT, 1.4 MMT more than reported in June and 4.8 MMT (2.3%) above last season

- Conab raised its Brazil's 2015/16 wheat crop estimate from 5.88 to 6.28 MMT

- Rosario grain exchange lowered its estimate for Argentine 2016/17 wheat crop area by 0.63 mln ha to 4.1 mln hectares

- Buenos Aires Grain Exchange kept Argentina's 2016/17 wheat acreage unchanged from last week at 4.5 mln ha (3.6 mln ha in 2015/16). Exchange estimates 72.2% of the crop has been planted as of July 7 vs. 81.5% this time last year

- Monsoon rains in India were 35% above average in the week ended July 6. The June-September monsoon has so far delivered 1% higher rainfall than average

CORN

- South Korea's Nonghyup Feed Inc (NOFI) seeks up to 276,000 MT of corn for Nov 10-Dec 31 shipment

- Jul 7 - South Korea's KOCOPIA bought 55,000 MT of corn at 196.38 $/mt c&f for Oct 20 arrival

- Jul 7 - USDA announced export sales of 137,160 MT of US corn to Mexico for delivery during 2015/16 (15,240 MT); 2016/17 (91,440 MT) and 2017/18 (30,480 MT)

- Jul 6 - Israeli group bought 120,000 MT of optional origin corn, possibly Black Sea origin, at 169.50 $/mt c&f for Sep-Oct shipment; 169.10 $/mt c&f for Oct-Nov shipment; and 169.50 $/mt c&f for Nov-Dec shipment

- Jul 6 - Israeli group bought 15,000 MT of optional feed barley, possibly Black Sea origin, at 156 $/mt c&f for Oct-Nov shipments

- Jul 7 - Argentina grants export licenses for 5,000 MT of corn

- Jul 6 - Argentina grants export licenses for 10,500 MT of corn and 5,000 MT of barley

- Conab cut its Brazil's 2015/16 corn crop estimate to 69.14 MMT from its June projection of 76.22 MMT with second crop lowered by 7 MMT to 43.05 MMT (84.67 MMT, incl. 54,59 MMT in 2014/15). Conab expects Brazil to export 22.0 MMT of corn (25.4 MMT – previous forecast and 30.17 MMT in 2014/15). Ending stocks are estimated at 4.47 MMT, sharply down from 10.51 MMT in 2014/15

- Safras & Mercado estimated Brazil second corn crop harvest at 21.2% complete compared to 7.3% last year on this date

- Buenos Aires Grain Exchange left its 2015/16 Argentine corn crop estimate unchanged from prior week at 28 MMT (28.2 MMT in 2014/15). Harvesting of Argentine corn crop was 44.6% completed as of July 7, behind of last year's pace

- EU in week ended July 1 awarded licenses to import 5,000 MT of Ukrainian barley under an annual duty-free quota, bringing the total to 81,792 MT or 32.7% out of a total volume of 250,000 MT available in 2016

- EU during Jul 1-5 2016/17 awarded licenses to import 156 TMT of corn vs. 97 TMT a year ago. In 2015/16 EU issued import certificates for 13.264 MMT of corn vs. 9.203 in 2014/15

- EU during Jul 1-5 2016/17 granted licenses to export 23 TMT of corn vs. 20 TMT a year ago. In 2015/16 EU issued export licenses for 1.884 MMT of corn vs. 3.637 MMT in 2014/15

- EU during Jul 1-5 2016/17 granted licenses to export 193 TMT of barley vs. 414 TMT a year ago. In 2015/16 EU issued export licenses for 10.236 MMT of barley vs. 9.099 MMT in 2014/15

- FranceAgriMer said 53% of France's winter barley crops were in good to excellent condition as of July 4, down 9% points on the prior week and below the year-ago score of 86%. Spring barley rating was at 67% in good to excellent vs. 71% a week ago and vs. 66% a year ago. Harvesting of winter barley was under way, with 16% of the crop cut by July 4 (3% a week ago), well below the 73% harvest progress a year ago

- FranceAgriMer estimated France's corn condition as 69% in good to excellent, up 1% point on the prior week and marginally below the year-ago score of 71%

- France exported 250,002 MT of barley outside the EU in May (72 TMT to Algeria, 37 TMT to Saudi Arabia and 34 TMT to Jordan). A further 228,555 MT were exported within the EU in May, bringing total French barley exports in the first eleven months of the season to 7.2 MMT (incl. 4.5 MMT to non-EU)

- Russian farmers harvested 2.17 MMT of barley from 6.1% of the planned area as of July 7, up from 1.48 MMT a year ago. Yields totaled 4.21 mt/ha down from 4.38 mt/ha a year ago

- FAO cut its forecast for world maize production in 2016 as prospects for the second crop in Brazil have dimmed and as reduced government support in China led to lower planting. Overall coarse grain production for this year is now expected to be 1,316.4 MMT, some 0.6% (8.2 MMT) lower than last month's forecast, but 1% (12.6 MMT) above last year

- USDA attaché projects Zimbabwe's 2016/17 corn imports at 1.4 MMT, more than USDA's official estimate of 1.0 MMT and compared to 0.8 MMT in 2015/16, due to an estimated 43% decline of domestic corn production

- FAO Cereal Price Index averaged 156.9 points in June, up 4.4 points (2.9%) from May, but still 3.9% below the June 2015 level. Nearly all of last month's increase was caused by a strengthening of maize prices; primarily because of tightening spot export supplies in Brazil. Wheat values rose during the first half of the month, before reversing course subsequently on reports of record yields in the US and better than expected harvests in the Black Sea region

- US Ethanol production for the week ended July 1 fell by 19,000 barrels to 984,000 barrels per day, down 0.3% from last year's level of 987,000 bpd. Stocks climbed by 390,000 barrels from the week prior to 21.557 million barrels, up 8.6% vs. 19.841 million barrels a year ago

- Cargill Inc has agreed to sell its ag-retail business in the US to farming input seller and distributor Agrium Inc

SOYBEAN

- Jul 7 - USDA announced export sales of 120,000 MT of US soybeans to China for delivery during 2016/17

- Jul 6 - Argentina grants export licenses for 35,000 MT of sunflower meal

- Buenos Aires Grains Exchange maintains its forecast for 2015/16 Argentine soy crop at 56 MMT (60.8 MMT in 2014/15). Harvesting of Argentine soybean crop was 97.1% completed as of July 7, below last year's pace of 100%

- Conab lowered its Brazil's 2015/16 soybean production estimate from 95.63 to 95.57 MMT this month (96.23 MMT in 2014/15). Conab expects Brazil to export 54.25 MMT of soybeans (54.1 MMT – previous forecast and 54.32 MMT in 2014/15). Ending stocks are estimated at 450,100 MT, halved from 925,700 MT in 2014/15

- USDA attaché forecasts China's soybean imports to hit a record of 86 MMT in 2016/17, up from the estimated 83 MMT in 2015/16, but lower than the official USDA data forecast of 87 MMT. As changes in government policy are lowering expectations for corn profits, 2016/17 soybean acreage is up moderately with a forecast production of 12.5 MMT (USDA – 12.2 MMT) , up from the 11.6 MMT in the previous year

- USDA attaché projects Pakistan's 2016/17 soybean imports at 2.0 MMT, more than USDA's official estimate of 1.75 MMT and compared to 1.3 MMT in 2015/16, due to an increased tariff on soybean meal

- Russian farmers harvested 63,200 MT of rapeseed from 3.2% of the planned area as of July 7, down from 70,900 MT a year ago. Yields totaled 1.94 mt/ha up from 1.48 mt/ha a year ago

- FAO Vegetable Oil Price Index averaged 162.1 points in June, down 1.3 points (0.8%) from May, primarily reflecting lower quotations of palm oil, due to subdued global import demand and a seasonal recovery in production in Indonesia and Malaysia. Prospects of ample sunflower and rapeseed oil supplies also weighed on the index. By contrast, soy oil prices increased, underpinned by reduced export availabilities in South America and less favourable than initially anticipated production prospects for 2016/17