WHEAT

- Oct 14 - Saudi Arabia seeks 595,000 MT of hard wheat, 12.5% protein, in 10 consignments for Dec-Jan shipment

- Oct 13 - Egypt's GASC seeks an unspecified amount of wheat from global suppliers for Nov 11-20 shipment

- Syria's Hoboob purchased 1 MMT of Russian wheat at 150 euros/mt (168 $/mt) c&f, and shipment would be for a year after opening up the letter of credit

- Oct 13 - Japan bought 100,143 MT of food wheat for Nov-Jan shipment:

  • 31,970 MT of western white US wheat;
  • 14,803 MT of hard red winter US wheat;
  • 25,455 MT of dark northern spring US wheat;
  • 27,915 MT of Canadian western red spring wheat

- Oct 12 - Philippines purchased about 155,000 MT of feed wheat:

  • 50,000 MT at 186.50 $/mt c&f for Dec 1-21 shipment if from the Black Sea/the EU, or Dec 21-Jan 10 if from Australia;
  • 55,000 MT at 185.50 $/mt c&f if wheat from the Black Sea/the EU for Dec 22-Jan 11 shipment, or 198.49 $/mt c&f if from Australia for Jan 11-31;
  • 50,000 MT of wheat, likely from Australia, at 199 $/mt c&f for Feb 1-21 shipment

- Oct 12 - Jordan bought 100,000 MT of optional origin hard wheat from Ameropa at 203 $/mt c&f for Mar-Apr shipment

- China has approved 2017 low-tariff import quota for wheat at 9.6 MMT, unchanged from previous years

- FranceAgriMer cut its estimate of French 2016/17 soft wheat production by 433,000 MT to 28.04 MMT, now down 31.5% from a record 2015/16 crop. Wheat stocks are forecasted at 2.435 MMT at the end of 2016/17, down from 3.325 MMT last year. Projected exports outside the EU were unchanged from last month at 4.7 MMT, down 62.8% from 12.62 MMT in 2015/16, while forecast shipments within the EU were cut to 6.415 MMT from September estimate of 6.585 MMT and 7.804 MMT in 2015/16

- USDA raised its forecast of U.S. wheat ending stocks to 1.138 billion bushels, the most since 1987/88, but below the average expectations of 1.153 billion bushels (1.05-1.4 – range)

- USDA trimmed global 2016/17 wheat production estimate to 744.4 MMT, down by 0.4 MMT from previous estimate but 9.4 MMT above the last year's record, because larger crops in Australia, Brazil, and Canada are more than offset by cuts in the EU and the US. Global trade is raised to a new record

- USDA lowered its forecast for 2016/17 world wheat inventories to 248.37 MMT (still a record) from September estimate of 249.07 MMT and vs. average expectation of 249.72 MMT (246-252.7 – range)

- Oct 13 - Russia bought 3,375 MT of intervention grain (all wheat) via tender on the Crimean Exchange. Making the total bought since Aug 19 at 46,874 MT of 2016/17 grain (44,444 MT of wheat and 2,430 MT of barley)

- Sovecon raised its forecast for Russia's 2016 grain crop to 119 MMT, incl. wheat crop at 72 MMT

- Oct 12 - Egypt's GASC postponed an international rice tender until Oct 17

- China has approved 2017 low-tariff import quota for rice at 5.3 MMT, unchanged from previous years

CORN

- Oct 13 - South Korea's Major Feedmill Group (MFG) bought 132,000 MMT of optional-origin yellow corn:

  • 66,000 MT at 184.50 $/mt c&f + 1.0 $/mt surcharge for additional port unloading for arrival around Jan 21
  • 66,000 MT at 185.50 $/mt c&f including surcharge for additional port unloading for arrival around Feb 3

- Oct 13 - South Korea's Korea Corn Processing Industry Association (KOCOPIA) bought 55,000 MT of optional origin yellow corn from Panocean at 187.89 $/mt c&f including surcharge for additional port unloading for Jan 30 arrival

- Oct 12 - Argentina grants export licenses for 14,335 MT of corn

- China has approved 2017 low-tariff import quota for corn at 7.2 MMT, unchanged from previous years

- FranceAgriMer estimated France's 2016/17 corn crop at 12.197 MMT (12.158 MMT – previous forecast) vs. 13.059 MMT last year with the carryout projected at 2.282 MMT against 2.035 MMT in September and 2.462 MMT in 2015/16. France's 2016/17 corn export is forecasted at 5.395 MMT (5.525 MMT – previous forecast) vs. 6.329 MMT a year ago

- FranceAgriMer trimmed its estimate of French 2016/17 barley crop to 10.015 MMT from 10.079 MMT in September and vs. 13.028 MMT last year with the carryout projected at 1.846 MMT against 1.28 MMT in 2015/16. France's 2016/17 barley exports (without malt) is expected at 4.61 MMT (4.885 MMT in Septembers) down 40% from 7.686 MMT a year ago

- USDA lowered its estimate of the US 2016 corn yield to 173.4 bushels per acre, from 174.4 bpa in September, as expected, but still the highest on record

- USDA lowered its US new-crop corn carryover projection by 64 million bu from last month to 2.32 billion bu, which was 39 million bu below the average pre-report trade estimate

- USDA trimmed its 2016/17 global corn production forecast by 0.9 MMT to a record 1,025.7 MMT, up 6.9% from last year's level, with reductions for the US, the EU and Vietnam more than offsetting gains for Brazil and Thailand. Global trade is projected higher with larger imports for the EU, Mexico, Iran and Vietnam

- USDA cut its forecast for 2016/17 world corn inventories to 216.81 MMT (still a record) from September estimate of 219.46 MMT and below average expectation of 218.32 MMT (208-225.3 – range)

SOYBEAN

- Oct 13 - USDA announced export sales of 241,000 MT of US soybeans for delivery during 2016/17:

  • 126,000 MT for delivery to China;
  • 115,000 MT for delivery to unknown destinations

- Oct 13 - USDA announced export sales of 126,000 MT of US soybean cake and meal for delivery to unknown destinations during 2016/17

- Oct 12 - USDA announced export sales of 115,000 MT of soybeans for delivery during 2016/17:

  • 55,000 MT of optional-origin soybeans for delivery to China;
  • 60,000 MT of US soybeans for delivery to China

- Oct 12 - Philippines bought around 90,000 MT of soymeal, likely from the US, at $41 over the Chicago March soymeal contract, C&F, for Jan-Feb shipments

- China imported 7.19 MMT of soybeans in September, down 6.3% compared to the previous month and down 1% from a year-ago level, but well above market forecasts of about 6 MMT. Imports for the first nine months of 2016 stood at 61 MMT versus 59.65 MMT a year ago

- USDA raised its outlook for US soybean production to a record 116.18 MMT (4.269 billion bushels) from 114.33 MMT estimated in September, with the average US yield seen at an all-time high of 51.4 bpa

- USDA raised its US new-crop soybean stocks estimate by 30 million bu from last month to 395 million bu, which was 18 million bu below the average pre-report trade estimate

- USDA raised its forecast of global soybean production in 2016/17 by 2.8 MMT to a record 333.2 MMT with larger crops for the US and Brazil

- USDA raised its forecast for 2016/17 world soybean ending stocks significantly to 77.36 MMT from September estimate of 72.17 MMT and 75.45 MMT in 2015/16, also well above average expectation of 73.28 MMT (71.15-74.9 MMT – range)

- UK's Ag Min estimates 2016 rapeseed harvest for the UK at 1.771 MMT, a decrease of 30.4% on year (2.542 MMT in 2015)