WHEAT

- Oct 20 - Japan seeks 132,015 MT of food wheat for Nov-Feb shipment:

  • 20,565 MT of western white US wheat;
  • 26,270 MT of hard red winter US wheat;
  • 28,360 MT of dark northern spring US wheat;
  • 27,900 MT of Canadian western red spring wheat;
  • 28,920 MT of Australian standard white wheat

- Oct 18 - Russia bought 30,780 MT of intervention grain (28,485 MT of wheat and 2,295 MT of barley) via tender on the NTB (National Trade Exchange, Moscow Exchange). Making the total bought since Sep 19 at 448,200 MT of 2016/17 grain (414,450 MT of wheat and 33,750 MT of barley)

- Oct 17 - Argentina grants export licenses for 100,000 MT of milling wheat

- US wheat export inspections for week, ending Oct 13, recorded 450,613 MT, near the low end of expectations (450-650 TMT). Inspections for 2016/17 are running 28.8% ahead of year-ago

- USDA estimated 72% of the US winter wheat crop was planted as of Oct 16, behind of analyst expectations for 75% planted (range 71-79%) and also below last year's pace and 5-year mean of 73%

CORN

- Oct 17 - Argentina grants export licenses for 23,238 MT of corn

- US corn export inspections for week, ending Oct 13, reported 875,808 MT, below the market forecasts (1.1-1.3 MMT). Inspections for 2016/17 are running 79.5% ahead year-ago

- USDA rated 74% of the US corn crop in good-to-excellent condition as of Oct 16, up 1% point from the previous week and compared to 68% a year-ago. USDA estimated 46% of the US corn crop was harvested, behind analysts' forecasts of 49% (46-51% – range) and also below last year's pace of 54% and 5-year mean of 49%

- Indonesia's agriculture minister expects 2016 corn import at around 1 MMT vs. 3.6 MMT in 2015 and hopes to end corn imports by 2018

- China Grain Reserves Corporation (Sinograin) began buying corn last week in Inner Mongolia, offering farmers 1,300-1,420 RMB/mt (195-213 $/mt). This is about a third below prices it paid last year

SOYBEAN

- Oct 17 - Argentina grants export licenses for 240,000 MT of soybean oil

- US soybean export inspections for week, ending Oct 13, reported 2,508,997 MT, topped the trade forecasts that ranged from 1.3 to 1.6 MMT. Inspections for the 2016/17 marketing year are running 13.9% ahead of year-ago

- USDA rated 74% of the US soybean crop in good-to-excellent condition as of Oct 16, unchanged from the previous week and ahead compared to 64% a year-ago. USDA estimated 62% of the US soybean crop was harvested, in line with analysts' forecasts of 62% (59-67% – range) but below last year's pace of 73% and 5-year mean of 63%

- NOPA said its members crushed 129,405 million bushels of soybeans during September, which more than expected (127.694 million bu – avg., 123-131.45 mln bu – range) and higher than a year earlier. NOPA processors crashed 131.822 mln bu in August and 126.704 mln bu a year ago. Soyoil stocks fell to 1.376 billion lbs as of September 30 from 1.62 a month earlier, below expectations of 1.5 billion lbs but above last year's level of 1.355 billion lbs. Soymeal exports fell to 439,605 tons from 574,802 tons in August and vs. 502,320 tons a year ago

- USDA attaché in Argentina forecasts soybean production at 55 MMT in 2016/17, less than USDA's official projection of 57 MMT and down from 56.8 MMT in 2015/16. As a result, Argentine 2016/17 soybean crush may fall by 3% to 41 MMT, about 7% below the USDA's official projection (44.3 MMT)

- USDA attaché projects Argentina's 2016/17 sunseed crush at 3.15 MMT, more than USDA's official estimate of 3 MMT and up 15% from 2015/16