WHEAT

- Nov 24 - Taiwan Flour Millers' Association bought 85,325 MT of US milling wheat in two consignments:

  • The first consignment was bought from ADM and has an additional charge of 25.36 $/mt for ocean shipping from the US Pacific North West coast to Taiwan for shipment between Jan 8-22:
    • 23,550 MT of dark northern spring wheat (14.5% protein) at 259.83 $/mt fob;
    • 14,450 MT of hard red winter wheat (12.5% protein) at 223.77 $/mt fob;
    • 8,225 MT of soft white wheat (10.5% protein) at 187.4 $/mt fob.
  • The second consignment was bought from Columbia Grain and has an additional charge of 29.36 $/mt for ocean shipping from the US Pacific North West coast to Taiwan for shipment between Jan 25-Feb 8:
    • 23,950 MT of dark northern spring wheat (14.5% protein) at 259.83 $/mt fob;
    • 15,150 MT of hard red winter (12.5% protein) at 226.25 $/mt fob

- Nov 24 - Argentina grants export licenses for 44,250 MT of low protein wheat

- Ukraine's Ag Min said Ukraine exported 17.274 MMT of grain between July 1-Nov 25, 2016/17, including: wheat – 9.646 MMT; barley – 3.954 MMT; corn – 3.613 MMT; others – 61 TMT. Also was exported 131,500 MT of wheat flour

- Weekly US wheat export sales data for week ended Nov 17 totalled 712,500 MT for 2016/17 (well above the trade expectations for 350-550 TMT). Export commitments for 2016/17 are running 31% ahead of year-ago

- According to TAXUD, the EU this season in period of Jul 1-Nov 22, 2016/17 exported 9.436 MMT of soft wheat compared to 8.633 MMT a year ago

- FranceAgriMer estimated winter wheat planting 98% done as of Nov 21, matching of last year's pace of 98%; crop condition is estimated as 94% in good to excellent, down 1% point from the prior week and below the year-ago score of 98%. Also French farmers have planted 85% of durum as of Nov 21 vs. 94% at the same time a year ago

- Buenos Aires Grain Exchange forecasts Argentine 2016/17 wheat crop at 12.5 MMT, up 21.4% from 2015/16 crop (10.3 MMT). Harvesting of Argentine wheat crop was 17.7% completed as of Nov 24, behind of last year's pace of 20%

- Argentina's Ag Min raised 2016/17 wheat planting area estimate to 5.26 million hectares from 5.17 million in October (4.37 mln ha in 2015/16). They forecast Argentine wheat production at 14.9 MMT, up 31.8% from 11.3 MMT in 2015/16

- China's October wheat imports down 16.8% on year to 262,629 MT. China's Jan-Oct wheat imports rose 21.9% on year to 3.123 MMT

- Russia will decide next week whether to introduce a quarantine in the southern region of Krasnodar due to outbreaks of African Swine Fever. A quarantine could affect grain exports from the region

- International Grains Council (IGC) raised its forecast for world wheat production in 2016/17 by 1 MMT to record high 749 MMT (737 MMT in 2015/16). Global wheat ending stocks were revised upwards by 2 MMT to 235 MMT (222 MMT in 2015/16). IGC said world wheat harvested area for the 2017/18 would be steady with reductions in the US and Kazakhstan balanced by increases in Russia and North Africa

CORN

- Nov 24 - Argentina grants export licenses for 41,495 MT of corn

- Nov 24 - Argentina grants export licenses for 15,000 MT of barley

- Weekly US corn export sales data for week ended Nov 17 of 1,688,800 MT for 2016/17 (topping a range of trade expectations for 0.9-1.2 MMT). Export commitments for 2016/17 are running 77% ahead of year-ago

- EU this season in period of Jul 1-Nov 22, 2016/17 imported 3.297 MMT of corn (maize) vs. 4.09 MMT a year ago

- EU this season in period of Jul 1-Nov 22, 2016/17 exported 1.073 MMT of corn vs. 812 TMT a year ago

- EU this season in period of Jul 1-Nov 22, 2016/17 exported 1.686 MMT of barley (excluding malting) vs. 5.088 MMT a year ago

- EU this season in period of Jul 1-Nov 22, 2016/17 exported 1.15 MMT of malting barley vs. 1.28 MMT a year ago

- FranceAgriMer estimated France's corn condition as 53% in good to excellent as of Nov 21, unchanged from the prior week but below the year-ago score of 56%. French farmers harvested 98% of corn by Nov 21 (95% a week ago), in line with the harvest progress a year ago

- FranceAgriMer estimated winter barley planting 100% done as of Nov 21, in line with last year's pace; crop condition is estimated as 92% in good to excellent, unchanged from the prior week but below the year-ago score of 97%

- Hungary expects a bumper maize crop of 9.1 MMT this year vs. 6.6 MMT in 2015

- Agroconsult forecasts Brazil's 2016/17 corn crop at 92 MMT versus 72 MMT last season

- Brazil's cereals exporters association Anec expects Brazil's corn exports will recover to 30 MMT in 2017, after falling to an estimated 18-19 MMT this year

- Ukrainian farmers harvested 22.4 MMT of maize from 3.6 million hectares, or 84% of the planted area as of Nov 25. The average maize yield rose to 6.27 mt/ha from 5.59 mt/ha in 2015

- SAGIS estimated South Africa's corn stocks as of October 31 were at 4.486 MMT vs. 5.021 MMT a month ago and 5.415 MMT a year ago

- SAGIS estimated S. Africa's May-Oct 2016/17 corn exports at 482,238 MT vs. 411,947 MT a year ago

- SAGIS estimated S. Africa's May-Oct 2016/17 corn imports at 1.348 MMT vs. 447,292 MT a year ago

- Buenos Aires Grain Exchange kept its forecast for Argentine 2016/17 corn acreage at 4.9 mln ha (3.85 mln ha in 2015/16). Exchange estimates 41.1% of the crop has been planted as of Nov 24, ahead last year's pace of 39.1%

- Buenos Aires Grain Exchange forecasts Argentine 2016/17 barley crop at 3.15 MMT, down 26% from 2015/16 crop (4.25 MMT). Harvesting of Argentine barley crop was 2.3% completed as of Nov 24 vs. last year's pace of 2.4%

- Argentina's Ag Min slightly lowered its corn acreage forecast for the 2016/17 to 7.25 mln ha from 7.28 mln ha in October, but up 5.1% from 6.9 mln ha in 2015/16

- Argentina's Ag Min lowered its barley acreage forecast for the 2016/17 to 982,000 ha from 990,000 ha in October, down 33.2% from 1.47 mln ha in 2015/16. They forecast Argentine barley production at 3.355 MMT, down 31.5% from 4.9 MMT in 2015/16

- Argentina's Ag Min expects 2016/17 sorghum planting area at 850,000 ha, unchanged from last year

- China imported only 14,464 MT of corn last month, down 66.3% from the year-ago level. For the first ten months of the year, China has imported 2.994 MMT of corn, down 34.6% from year-ago

- China imported 134,934 MT of distillers' dried grains (DDGS) in October, down 50.4% from September and down 79.6% from a year-ago. China's Jan-Oct DDGs imports fell 52.3% on year to 2.833 MMT

- China's October ethanol imports fell 98.3% year on year to 1,191 cubic metres, the lowest level since January 2015. Meanwhile China's Jan-Oct ethanol imports rose 87.5% on year to 694,006 cubic metres

- China's October barley imports fell 68% on year to 319,640 MT. China's Jan-Oct barley imports dropped 57% on year to 4.177 MMT

- China imported 527,532 MT of sorghum in October, down 22.6% from a year-ago. China's Jan-Oct sorghum imports fell 29.3% on year to 6.207 MMT, mainly from US and Australia

- IGC raised its forecast for the 2016/17 world corn crop by 7 MMT to a record 1.042 billion tonnes, mainly reflecting improved prospects in the US and Brazil. IGC increased its forecast for 2016/17 global corn carryover by 3 MMT from last month to 224 MMT (208 MMT in 2015/16)

- Finland confirmed H5N8 bird flu in wild birds in Aland islands

- India confirmed H5N8 bird flu outbreak in Karnataka

SOYBEAN

- Nov 24 - Argentina grants export licenses for 333,322 MT of soybean oil

- Weekly US soybean export sales data for week ended Nov 17 of 1,898,600 MT for 2016/17 (topped trade expectations of 1.2-1.5 MMT). Export commitments for 2016/17 are running 26% ahead of year-ago

- IGC raised its forecast for 2016/17 global soybean production by 4 MMT to a record 336 MMT (315 MMT in 2015/16). IGC raised global 2016/17 soybean carryover by 5 MMT from last month to 38 MMT (34 MMT in 2015/16)

- Agroconsult forecasts Brazil's 2016/17 soybean crop at 102.6 MMT, up from 96.3 MMT last crop

- Brazil's grain export association Anec expects Brazil's soybean exports would reach a record 60 MMT in 2017, after projected exports of 51-52 MMT this year

- Buenos Aires Grain Exchange expects Argentina's 2016/17 soybean acreage at 19.6 mln ha, down 2.5% from the previous crop year (20.1 mln ha in 2015/16). Exchange estimates 33.7% of the crop has been planted as of Nov 24 vs. 43.2% this time last year

- Buenos Aires Grain Exchange left its estimate Argentina's 2016/17 sunseed acreage at 1.7 mln ha (1.22 mln ha in 2015/16). Exchange estimates 90.6% of the crop has been planted as of Nov 24 vs. 90.2% this time last year

- Argentina's Ag Min expects the country to plant 20.22 million hectares of soybean for the 2016/17, down 1.8% from 20.6 mln ha in 2015/16

- Argentina's Ag Min raised 2016/17 sunseed acreage estimate to 1.7 million hectares from 1.6 million in October (1.435 mln ha in 2015/16)

- Ukrainian farmers as of Nov 25 harvested 13.4 MMT of sunflower seed from 5.87 million hectares, or 99% of the sown area with average yield rose to 2.27 mt/ha

- Ukrainian farmers as of Nov 25 harvested 4 MMT of soybeans from 1.8 million hectares, or 96% of the sown area with average yield rose to 2.29 mt/ha

- China imported 5.214 MMT of soybeans during October down 5.7% from year-ago. China's Jan-Oct soybean imports up 1.9% on year to 66.404 MMT

- China's October soy oil imports fell 41.3% from year-ago levels to 49,755 MT. China's Jan-Oct soy oil imports fell 37.5% on year to 444,345 MT

- China's October rapeseed imports down 83.3% on year to 61,095 MT. China's Jan-Oct rapeseed imports fell 20.2% on year to 3.019 MMT

- China's October rapeseed oil imports rose by 22.9% on year to 53,774 MT, mainly from Canada. China's Jan-Oct rapeseed oil imports decreased 6.2% on year to 564,941 MT

- China's October rapeseed meal imports up by 1,317.1% on year to 68,536 MT, mostly from Canada. China's Jan-Oct rapeseed meal imports rose 245% on year to 422,000 MT

- China's October palm oil imports down 43.3% on year to 270,168 MT, mainly from Indonesia and Malaysia. China's Jan-Oct palm oil imports fell 29.9% on year to 3.352 MMT

- ODA maintains its forecast of French 2017 rapeseed crop at around 4 MMT, down from 4.6 MMT in last summer's harvest

- Surveyor Intertek Testing Services estimated Malaysia's November 1-25 palm oil exports at 895,625 MT down 9.6% from a month ago

- Surveyor SGS estimated Malaysia's November 1-25 palm oil exports at 895,077 MT down 10.3% from a month ago

- James Fry said that prices for crude palm oil (CPO) will drop nearly 30% by the third quarter of 2017 as global production recovers. CPO prices would stand around 500 $/mt fob in the third quarter of next year compared to around 685 $/mt fob this week

- Dorab Mistry said that RBD palm olein prices could reach 750 $/mt fob by the first quarter of 2017, and dip to 650 $/mt fob by June, from a front month price of 722.5 $/mt fob at present. He pegged Malaysia's 2017 production at 19.5 MMT (17.3-17.4 MMT in 2016) and Indonesian output at 33-33.5 MMT (29 MMT in 2016)

- Siegfried Falk said that Rotterdam crude palm oil prices would be at between $770 and $800 per MT from January to March 2017, dipping to between $750 and $780 from April to June. He expects Indonesia would increase its CPO production to 35 MMT and Malaysia to 20.5 MMT in 2017

- Indonesian Palm Oil Association said Indonesia's 2017 output of crude palm oil could increase by up to 16% to 32-33 MMT from 28.5-30 MMT this year (33 MMT in 2015). Indonesia's CPO exports could grow to 23-25 MMT in 2017, from an expected 23 MMT this year (25 MMT in 2015)

- Indonesian demand for crude palm oil for use in biodiesel is expected to grow 68% to 10.6 MMT by 2020 from a forecast 6.3 MMT this year