WHEAT

- Jul 25 - Argentina grants export licenses for 16,000 MT of low protein wheat

- South Korea rejected a 72,450 MT cargo of Argentine feed wheat due to the presence of unapproved GMOs. South Korea imported 396,900 MT of Argentinian feed wheat in June out of total imports of 910,946 MT

- Egypt says 4% of its 5 MMT of domestic wheat procurements missing

- Egypt has enough wheat reserves until mid-January

- USDA estimated 83% of the US winter wheat crop was harvested as of July 24, ahead of last year's pace of 82% and 5-year mean of 79%, but behind analysts' forecasts of 86%

- USDA estimated 68% of the US spring wheat crop in good to excellent condition as of July 24, down 1% point from prior week and compared to 71% a year-ago, below analysts' average expectation of 69%

- US wheat export inspections for week, ending July 21, recorded 549,894 MT, within the market forecasts (400-600 TMT). Inspections for 2016/17 are running 29.1% ahead of year-ago

- MARS raised its yield forecast for this year's EU's soft wheat to 6.10 mt/ha from 6.07 mt/ha prior month, down 2.9% from last year, but 4.6% above the 5-year average (5.83 mt/ha)

- IKAR says Russian wheat production could be 69 MMT; so the wheat export potential may be 29 MMT

CORN

- Jul 26 - China sold just 4,019 MT out of the 1,941,774 MT of reserved corn offered at auction

- Jul 25 - Argentina grants export licenses for 202,500 MT of corn

- US corn export inspections for week, ending July 21, reported 1,306,373 MT, in line with the market forecasts (1.1-1.4 MMT). Inspections for 2015/16 are running 2.8% behind year-ago

- USDA rated 76% of the US corn crop in good-to-excellent condition as of July 24, unchanged from the previous week and compared to 70% a year-ago, ahead of market expectations of 75%

- MARS upped its yield forecast for this year's EU's corn to 7.42 t/ha from 7.35 mt/ha last month, now up 17.8% from 2015 (6.30 mt/ha) and by 7.1% above the five-year average (6.93 mt/ha)

- MARS trimmed its yield forecast for this year's EU's barley (winter and spring) to 4.99 mt/ha from 5.01 mt/ha last month, only marginally down from last year (5.02 mt/ha), but 5.8% above the 5-year average (4.72 mt/ha)

- SAGIS estimated South Africa's corn stocks as of June 30 were at 4.062 MMT vs. 2.802 MMT a month ago and 6.0 MMT a year ago

- SAGIS estimated S. Africa's May-Jun 2016/17 corn exports at 164,621 MT vs. 135,207 MT a year ago

- SAGIS estimated S. Africa's May-Jun 2016/17 corn imports at 288,468 MT vs. 80,014 MT a year ago

SOYBEAN

- US soybean export inspections for week, ending July 21, reported 700,715 MT, topped the trade forecasts that ranged from 350,000 to 550,000 MT. Inspections for the 2015/16 marketing year are running 5.6% behind year-ago

- USDA rated 71% of the US soybean crop in good to excellent condition as of July 24, unchanged from previous week and compared to 62% a year-ago, ahead of market forecasts of 70%

- MARS lowered its yield forecast for this year's EU's rapeseed to 3.22 mt/ha from 3.24 mt/ha last month, down 3.5% from 2015 (3.34 mt/ha) but 0.8% above the 5-year average (3.2)

- MARS left its forecast the EU's 2016 average sunflower yield at 2.08 mt/ha unchanged from June. This is up 11.3% from 2015 (1.87 mt/ha) and 7.6% above the five-year mean (1.94 mt/ha)

- Egypt has enough vegoils reserves until end-September

- Malaysian government still plans to implement B10 biodiesel mandate (the minimum bio-content – 10%) for transport this year, but not in July, as earlier expected