WHEAT

- Aug 2 - Egypt's GASC bought 60,000 MT of Russian wheat from Midgulf at 177.09 $/mt c&f (168.9 $/mt fob+8.19 $/mt freight from NNC) for September 11-20 shipment

- Egypt has enough strategic wheat reserves to last until mid-February 2017

- Aug 2 - China sold less than 1 TMT out of 2.5 MMT reserve wheat offered at auction

- Indian Ag Min issued final estimate for the 2015/16 wheat crop at 93.5 MMT, above than 86.53 MMT in 2014/15

CORN

- Aug 2 - South Korea's KOCOPIA bought 55,000 MT of optional origin corn at 198.9 $/mt c&f including surcharge for additional port unloading for Nov 30 arrival

- Aug 2 - China sold just 21,138 MT of reserved corn produced 2012 at average price of 1,685 yuan/mt (254 $/mt) out of the 1,937,895 MT offered at auction

- Aug 2 - Argentina grants export licenses for 10,056 MT of sorghum

- Dr. Michael Cordonnier raised his US corn yield projection by 1 bushel per acre (bpa) from last week to 169 bpa, resulting in a 14.61-billion-bu crop (14.53 billion bu last week)

- Brazil's cereals exporters association Anec cut its estimate for 2016 corn exports to 20 MMT, down 3 MMT from its previous outlook

- Brazil's government is working to adjust its regulations regarding imports of genetically-modified organisms (GMO) in order to allow entry of more transgenic varieties from the US

- Indian Ag Min issued final estimate for the 2015/16 corn crop at 21.81 MMT, below than 24.17 MMT in 2014/15

- Indian Ag Min issued final estimate for the 2015/16 pulses crop at 16.47 MMT, below than 17.15 MMT in 2014/15

SOYBEAN

- Aug 2 - USDA announced export sales of 252,000 MT of US soybeans to China for delivery during 2016/17

- Aug 2 - Egypt's FIHC bought 60,000 MT of edible oils for Sept 1-20 arrival on an immediate payment basis:

  • 30,000 MT of soybean oil from ADM at 758 $/mt c&f;
  • 15,000 MT of sunflower oil from Glencore at 774 $/mt c&f;
  • 15,000 MT of sunflower oil from Nidera at 777.77 $/mt c&f

- Dr. Michael Cordonnier raised his US soybean yield projection by 0.5 bpa from last week to 47.2 bpa, resulting in a 3.91-billion-bu crop (3.87 billion bu last week)

- Safras & Mercado forecasts that soybean exports from Brazil during 2016/17 (February-January) would fall 1% from the previous season to 52.5 MMT

- Brazil's grain exporter group Anec estimates 2016 soy exports at 57.0 MMT

- Indian Ag Min issued final estimate for the 2015/16 soybean crop at 8.59 MMT, down from 10.37 MMT in 2014/15

- Indian Ag Min issued final estimate for the 2015/16 rapeseed crop at 6.82 MMT, up from 6.28 MMT in 2014/15