WHEAT

- Sept 15 - Japan seeks 149,231 MT of food wheat for Oct-Jan shipment:

  • 16,600 MT of western white US wheat;
  • 42,945 MT of hard red winter US wheat;
  • 28,620 MT of dark northern spring US wheat;
  • 24,966 MT of Canadian western red spring wheat;
  • 36,100 MT of Australian standard white wheat

- Sept 12 - Argentina grants export licenses for 125,000 MT of wheat

- USDA estimated 94% of the US spring wheat crop was harvested as of Sept 11, behind analysts' forecasts of 96% (95-99% – range) and last year's pace of 96%, but ahead 5-year mean of 86%

- USDA said the US winter wheat crop 6% planted as of Sept 11, down from 7% a year ago and vs. 7% on average, but ahead of analyst expectations for 5% planted (range 4-8%)

- US wheat export inspections for week, ending Sept 8, recorded 720,436 MT, topped the market forecasts (500-700 TMT). Inspections for 2016/17 are running 28.2% ahead of year-ago

- France's farm ministry cut its estimate of the country's 2016 soft wheat crop to 28.24 MMT from 29.1 MMT forecasted in August with yields lowered to 5.4 from 5.57 mt/ha earlier, down 31% from last year (40.91 MMT and 7.93 mt/ha in 2015) and 23.6% below the five-year average

- FranceAgriMer expects French soft wheat production in 2016/17 at 28.47 MMT, down from 40.86 MMT in previous year. Wheat stocks are forecasted at 2.23 MMT at the end of 2016/17, down from 3.03 MMT last year. French exports are expected to drop 44% this season to 11.4 MMT from 20.54 MMT in 2015/16, incl. export outside the EU to 4.7 MMT from 12.62 MMT last season and within the EU to 6.59 MMT from 7.81 in 2015/16

- ABARES raised its forecast of 2016/17 Australian wheat crop to 28.079 MMT from previous estimate of 25.384 MMT in June and above last year's crop of 24.193 MMT

- Argentine Ag Min expects Argentine farmers to harvest at least 15 MMT of wheat in the 2016/17 crop year versus 11.3 MMT in the previous season

- UK wheat exports rose sharply in July, the first month of the 2016/17 season, to 201,034 MT, up from 78,033 MT in the same month last year, including 69,248 MT to Netherlands, 66,000 MT to Vietnam and 25,064 MT to Spain

- Britain's wheat imports during July fell slightly to 118,414 MT from 136,656 MT in the same month in 2015

- Russia threatened to ban Egyptian citrus imports, a move that could escalate a trade dispute over exports of Russian wheat

- Russian farmers harvested 70.17 MMT of wheat from 85.5% of the planned area as of Sept 13, up from 55.74 MMT a year ago. Yields totalled 2.96 mt/ha up from 2.71 mt/ha a year ago

- Russian farmers have planted 7.9 million hectares (45.5% of the planned area) of winter crops as of September 13 down vs. 7.36 mln ha a year ago

- Ukrainian farmers have planted 352,600 hectares of winter wheat (5.7% of plan) as of Sept 13 down from 554,400 ha a year ago

- Kazakh farmers harvested 14.25 MMT of all grains as of Sept 14, up from 6.77 MMT a year ago. Yields totalled 1.49 mt/ha up from 1.1 mt/ha a year ago

- Kazakh Ag Min said Kazakhstan exported 992,700 MT of grain between July 1-Sept 10, 2016/17 vs. 1.015 MMT a year ago, incl. flour – 448,600 MT in wheat equivalent vs. 434,700 MT in the same period of 2015/16

- USDA increased global 2016/17 wheat production estimate to historical high 744.8 MMT, up by 1.4 MMT from previous estimate and 10.1 MMT above the last year's record, because larger crops in India, Kazakhstan, Australia, Brazil and Canada more than offset decline in the EU and China. Global trade is up month-to-month but just slightly lower than last year's record

- USDA lowered 2015/16 world wheat inventories to 240.89 MMT from August estimate of 241.88 MMT and vs. average expectation of 241.7 MMT. Projection for 2016/17 wheat stocks was lowered to 249.07 MMT (still a record) from 252.82 MMT in August and vs. average expectation of 251.34 MMT

CORN

- Sept 14 - Japan bought 350 MT of feed barley for February 28 arrival via SBS-tender. New SBS tender for 120,000 MT of feed wheat and 200,000 MT of feed barley will be held on Sept 28

- Sept 14 - China sold 561,151 MT of 2014 corn from state reserves, or 55.1% of the offered amount (1,017,889 MT), at average price of 1,579 RMB/mt (237 $/mt)

- Sept 13 - China sold 2,053 MT of 2012 corn from state reserves, or 0.2% of the offered amount (1.21 MMT), at average price of 1,450 RMB/mt (217 $/mt)

- Sept 13 - Taiwan's MFIG group bought 60,000 MT of Brazil or US origin corn from trading house ETG at a premium of 145.6 USc/bushel c&f over the Chicago March 2017 contract (around 191.5 USD/mt, c&f) for Nov 10-Dec 14 shipment

- Sept 13 - Argentina grants export licenses for 232,080 MT of corn

- Sept 12 - Argentina grants export licenses for 103,090 MT of corn

- Sept 12 - Argentina grants export licenses for 120,000 MT of barley

- US corn export inspections for week, ending Sept 8, reported 1,343,886 MT, within market forecasts (1.2-1.5 MMT). Inspections for 2016/17 are running 13% ahead year-ago

- USDA rated 74% of the US corn crop in good-to-excellent condition as of Sept 11, unchanged from the previous week, but ahead the market expectations of 73% (72-74% – range) and up compared to 68% a year-ago. USDA estimated 5% of the US corn crop was harvested, behind analysts' forecasts of 7% (4-10% – range) and 5-year mean of 7%, but ahead last year's pace of 4%

- France's farm ministry lowered the country's 2016 barley production estimate to 10.14 MMT from 10.24 MMT in August, down 22.1% from last year (13.03 MMT in 2015) and 8.1% below five-year average. French winter barley crop is estimated at 7.86 MMT (7.83 MMT forecasted in August and 10 MMT in 2015), while spring crop at 2.28 MMT (2.41 MMT forecasted in August and 3.02 MMT in 2015)

- France's farm ministry cut its estimate of the country's 2016 grain maize crop to 12.54 MMT from 13.49 MMT forecasted in August with yields lowered to 8.5 from 9.02 mt/ha earlier, down 7% from last year (13.49 MMT and 8.61 mt/ha in 2015) and 18.7% below the five-year average

- FranceAgriMer estimated France's 2016/17 corn crop at 12.158 MMT vs. 13.202 MMT last year with the carryout projected at 2.035 MMT against 2.386 MMT in 2015/16. France's 2016/17 corn export is forecasted at 5.525 MMT vs. 6.329 MMT year ago

- FranceAgriMer estimated 2016/17 French barley crop at 10.079 MMT vs. 12.668 MMT last year with the carryout projected at 1.459 MMT against 1.142 MMT in 2015/16. France's 2016/17 barley exports (without malt) is expected at 4.885 MMT vs. 7.686 MMT a year ago

- ABARES raised its Australia's 2016/17 barley crop forecast to 9.496 MMT from 9.026 MMT previously and vs. 8.593 MMT in 2015/16

- USDA cut its estimate of 2015/16 Brazil corn production to the smallest in 5 years of 67 MMT, down 1.5 MMT from last month. Brazil's corn imports for the 2015/16 trade year (Oct-Sep basis) are forecast at 1.7 MMT, the highest total in 16 years

- USDA trimmed its corn harvest outlook slightly from the previous month, but the crop is still expected to be the largest on record, at 15.093 billion bu (383,38 MMT) and above the average expectations of 15.027 billion bu

- USDA upped its US old-crop corn carryover estimate by 10 million bu from last month to 1.716 billion bu, which was 5 million bu above the average pre-report trade estimate. USDA's new-crop corn carryover projection of 2.384 billion bu was down 25 million bu. from August, but 55 million bu above the average trade estimate

- USDA trimmed its 2016/17 global corn production forecast by 1.8 MMT to a record 1,026.6 MMT, up 7% from last year's level, with reductions for China, the EU, and the US more than offsetting gains for Brazil and Canada. Global trade is projected higher with larger imports primarily for China

- USDA trimmed 2015/16 world corn inventories to 209.25 MMT from August estimate of 209.34 MMT and above average expectation of 208.75 MMT. Stocks are expected at a record level of 219.46 MMT in 2016/17 vs. 220.81 MMT forecasted in August and vs. average expectation of 219.35 MMT

- Ukrainian farmers harvested 629,300 MT of maize from 3.6% of the planned area as of Sept 13, up from 584.3 MT a year ago. Yields totalled 4.05 mt/ha down from 4.22 mt/ha a year ago

- Russian farmers harvested 18.09 MMT of barley from 91.4% of the planned area as of Sept 13, up from 16.08 MMT a year ago. Yields totalled 2.37 mt/ha up from 2.3 mt/ha a year ago

- Russian farmers harvested 1.01 MMT of maize from 6.8% of the planned area as of Sept 13, down from 1.9 MT a year ago. Yields totalled 5.09 mt/ha up from 4.98 mt/ha a year ago

SOYBEAN

- Sept 12 - Argentina grants export licenses for 6,125 MT of soybean oil and 11,500 MT of soymeal

- Argentina still collects a 30% tax on soybean exports, lowered from 35% by Macri in December. The president has vowed to keep cutting the soybean export tax by 5% points per year but it is not clear when the next cut will come because Argentina's government is considering postponing a tax cut planned for next year on soy exports

- US soybean export inspections for week, ending Sept 8, reported 948,570 MT, below the trade forecasts that ranged from 1.0 to 1.3 MMT. Inspections for the 2016/17 marketing year are running 190.6% ahead of year-ago

- USDA rated 73% of the US soybean crop in good to excellent condition as of Sept 11, unchanged from a week earlier, ahead of analysts' expectations of 72% (71-73% – range) and compared to 61% a year-ago. USDA progress and conditions report shows 26% of the soy crop dropping leaves, ahead analysts' forecasts of 23% (20-30% – range) and 5-year mean of 25%, but behind of last year's pace of 30%

- USDA raised its outlook for US soybean production to a bigger-than-expected and record 114.33 MMT from 110.5 MMT estimated in August, with the average US yield seen at an all-time high of 50.6 bpa following ideal growing weather during the key development month of August

- USDA lowered its US old-crop soybean stocks estimate by 60 million bu from last month to 195 million bu, which was 37 million bu below the average pre-report trade estimate. USDA's new-crop corn carryover projection of 365 million bu was up 35 million bu from August, and 35 million bu above the average trade estimate

- USDA modestly increased its forecast of global soybean production in 2016/17 to a record of 330.43 MMT with a larger US production forecast offset by reductions in Brazil, India, and Canada

- USDA lowered 2015/16 world soybean ending stocks to 72.9 MMT from July estimate of 73 MMT but above average expectation of 72.27 MMT. Stocks are expected at a three-year low of 72.17 MMT in 2016/17 vs. August forecast of 71.24 and average expectation of 70.37 MMT

- France's farm ministry raised its forecast for 2016 French winter rapeseed output to 4.65 MMT from 4.5 MMT in August, but down 12.2% from last year (5.3 MMT in 2015) and 10.4% below five-year average

- France's farm ministry lowered its estimate of the country's 2016 sunflower seed crop to 1.22 MMT from 1.29 MMT forecasted in August with yields lowered to 2.09 from 2.2 mt/ha earlier, up 3.3% from last year (1.19 MMT and 1.92 mt/ha in 2015) but 21.5% below five-year average

- France's farm ministry estimates the country's 2016 soybean crop at 384 TMT with yields 2.73 mt/ha, up 15% from last year (334 TMT and 2.74 mt/ha in 2015) and 114% above five-year average

- ABARES raised its estimate of Australia's 2016/17 canola crop to 3.632 MMT from previous forecast of 3.239 MMT in June and up 23.4% from 2.944 MMT in 2015/16

- Surveyor SGS estimated Malaysia's September 1-10 palm oil exports at 395,970 MT down 15% from a month ago

- MPOB estimated Malaysian crude palm oil production in August at 1.7 MMT, behind average expectation of 1.74 MMT but up from 1.59 MMT in July with end-stocks at 1.46 MMT down 17.3% on month, lowest since January 2011, and below the average market expectation of 1.6 MMT. Malaysian August palm oil exports rose to 1.81 MMT, up 30.9% on month and topped the average expectation of 1.68 MMT

- GAPKI estimated Indonesia's July exports of palm oil and palm kernel oil at 1.6 MMT, down 10% from the previous month

- Ukrainian farmers harvested 2.84 MMT of sunseed from 23.7% of the planned area as of Sept 13, down from 2.55 MMT a year ago. Yields totalled 2.03 mt/ha up from 1.96 mt/ha a year ago

- Ukrainian farmers harvested 676,000 MT of soybean from 17.7% of the planned area as of Sept 13, down from 701,900 MT a year ago. Yields totalled 2.07 mt/ha up from 1.7 mt/ha a year ago

- Ukrainian farmers have planted 633,700 hectares of winter rapeseed (87.5% of plan) as of Sept 13 up from 501,600 ha a year ago

- Russian farmers harvested 1.16 MMT of sunseed from 7.5% of the planned area as of Sept 13, down from 1.34 MMT a year ago. Yields totalled 2.06 mt/ha down from 2.08 mt/ha a year ago

- Russian farmers harvested 408,700 MT of soybean from 10.1% of the planned area as of Sept 13, down from 564,900 MT a year ago. Yields totalled 1.85 mt/ha up from 1.71 mt/ha a year ago

- Russian farmers harvested 663,300 MT of rapeseed from 51.1% of the planned area as of Sept 13, up from 615,300 MT a year ago. Yields totalled 1.3 mt/ha down from 1.57 mt/ha a year ago