WHEAT

- Dec 6 - Japan's Ministry of Agriculture is seeking to buy a total of 24,910 MT of feed wheat in a regular tender. The ministry is also seeking to buy a total of 17,000 MT of food quality wheat in the same tender

- Egypt has wheat reserves sufficient for six months. The increase in stocks comes following the arrival of four cargoes carrying 250,000 MT

- Russia may start wheat supplies to Venezuela already in early next year if the sides agree on technical aspects and sign a respective agreement

- Russia's Ag Min said Russia exported about 16.809 MMT of grain between July 1-Nov 30, 2016/17, up by 0.7% from 16.69 MMT a year ago, including:

  • wheat – 13.212 MMT (12.547 MMT a year ago);
  • barley – 1.676 MMT (2.684 MMT);
  • corn – 1.83 MMT (1.32 MMT);
  • others – 91 TMT (140 TMT)

- Russia has 3,770,300 MT of grain in its federal intervention fund as of December 2 vs. 2,143,600 MT a year ago

- Ukrainian farmers have planted winter crops at 6.95 mln ha (94% of plan), incl. wheat on 5.9 mln ha (95% of plan) vs. 6.7 mln ha last year. Ukraine's Ag Min said that around 93% winter crops were emerged vs. 80% a year ago; about 82% of emerged crops were in good and satisfactory condition vs. 64% last year and 18% were in poor condition vs. 36% a year ago

- ABARES raised its forecast of 2016/17 Australian wheat crop to a record 32.643 MMT, sharply up from previous estimate of 28.079 MMT in September and well above last year's crop of 24.193 MMT

- USDA attaché's forecast for Thailand's wheat imports remains unchanged at 3.6 MMT, down 23% from 2015/16 due to the government's restrictions on imported feed wheat. During the first quarter of 2016/17, wheat imports totaled 1.3 MMT which is a 15% increase from the same period last year. Imports of feed wheat totaled around 1.1 MMT, up 29% from the same period last year. However, feed wheat imports are likely to slow down in the second half of the 2016/17 as the government has restricted the import of feed wheat. The downward pressure on domestic corn prices led the cabinet to decide on November 8, 2016 to restrict feed wheat imports. Under the new regulations, import permits will be required for the import of feed wheat. Also, feed wheat imports will be subject to a 3 to 1 domestic corn absorption requirement meaning that in order to import a tonne of feed wheat a mill would have to use 3 MT of domestic corn. Thailand's feed wheat imports come mainly from Ukraine and Argentina. Meanwhile, imports of milling wheat are expected to continue to trend upwards due to consumption growth of wheat-based foods

CORN

- Dec 2 - Saudi Arabia's SAGO (Saudi Grains Organisation) bought 945,000 MT of feed barley of Australia, South America, EU and Black Sea origin at an average price of 186.15 $/mt c&f in 16 consignments for Jan-Mar 2017 shipment to the ports of Jeddah (765 TMT) and Dammam (180 TMT):

  • Jeddah Sea Port:
    • 60,000 MT of feed barley from Fedcominvest at 192.00 $/mt c&f (Jan 1-15);
    • 60,000 MT of feed barley from Fedcominvest at 188.75 $/mt c&f (Jan 15-30);
    • 60,000 MT of feed barley from Casillo Group at 188.80 $/mt c&f (Jan 15-30);
    • 60,000 MT of feed barley from Fedcominvest at 190.75 $/mt c&f (Jan 15-30);
    • 60,000 MT of feed barley from Fedcominvest at 188.75 $/mt c&f (Feb 1-15);
    • 60,000 MT of feed barley from Casillo Group at 189.80 $/mt c&f (Feb 1-15);
    • 60,000 MT of feed barley from Holbud Limited at 189.85 $/mt c&f (Feb 1-15);
    • 60,000 MT of feed barley from Glencore Agriculture at 180.80 $/mt c&f (Feb 15-28);
    • 45,000 MT of feed barley from Bunge at 182.32 $/mt c&f (Feb 15-28);
    • 60,000 MT of feed barley from Cargill at 187.95 $/mt c&f (Feb 15-28);
    • 60,000 MT of feed barley from Glencore Agriculture at 182.80 $/mt c&f (Mar 1-15);
    • 60,000 MT of feed barley from LLc Trade House at 184.00 $/mt c&f (Mar 1-15);
    • 60,000 MT of feed barley from Holbud Limited at 185.67 $/mt c&f (Mar 1-15).
  • Dammam Sea Port:
    • 60,000 MT of feed barley from Casillo Group at 186.95 $/mt c&f (Feb 1-15);
    • 60,000 MT of feed barley from Bunge at 177.89 $/mt c&f (Feb 15-28);
    • 60,000 MT of feed barley from Graincorp at 180.40 $/mt c&f (Mar 1-15)

- Dec 2 - Argentina grants export licenses for 23,336 MT of corn

- Dec 2 - Argentina grants export licenses for 10,000 MT of barley

- South Korea purchased at least 10 cargoes of US and optional-origin corn for arrival in March and April at about 181-187 $/mt c&f

- USDA attaché's forecast of Thailand's 2016/17 corn production remains unchanged at 5.2 MMT, up 11% from 2015/16. More than 60% of this year's corn has already been harvested

- ABARES raised its Australia's 2016/17 barley crop forecast to 10.644 MMT from 9.496 MMT previously and vs. 8.593 MMT in 2015/16

- ABARES cut its Australia's 2016/17 sorghum crop estimate to 1.439 MMT from previous forecast of 1.932 MMT in September and vs. 2.037 MMT in 2015/16

- China is aiming to produce 4 MMT of ethanol by 2020, doubling output from the current level

- Germany reported a first case of the contagious bird flu strain H5N1 on a small poultry farm in the northeastern state of Brandenburg

SOYBEAN

- Dec 5 - USDA announced export sales of 426,000 MT of US soybeans for delivery to China during 2016/17

- Dec 2 - Argentina grants export licenses for 34,760 MT of soymeal and 8,295 MT of soybean oil

- AgRural said Brazilian soybean crop was 90% planted as of Dec 1 vs. 83% a week ago vs. 88% a year ago

- Abiove cut its estimate for Brazil's 2015/16 soybean crop to 96.1 MMT from the previous outlook of 96.6 MMT. Abiove also lowered its estimate for 2016 soybean exports by 800,000 MT to 51.7 MMT

- Abiove raised its forecasts of Brazil's 2017 soybean crop from 101.3 to 101.4 MMT and exports from 57.0 to 57.5 MMT

- USDA attaché maintains its forecast for Argentine soybean production at 55 MMT in 2016/17 (56.8 MMT in 2015/16) and soybean crush at 43.5 MMT (40.85 MMT in 2015/16)

- USDA attaché maintains its projection for Argentina's 2016/17 sunflower crop at 3.3 MMT (2.6 MMT last year) and sunseed crush at 3.15 MMT (2.735 MMT in 2015/16)

- USDA attaché projects India's 2016/17 soybean production at 11.5 MMT, more than USDA's official estimate of 9.7 MMT and up 64% from 2015/16 (7.0 MMT)

- USDA attaché expects India's 2016/17 vegetable oil imports at 16 MMT, up 4.6% from 2015/16 (15.3 MMT), as relatively lower import duty on palm, coupled with a lower price premium for sunflower oil, should encourage imports in spite of the local supply situation being relatively better than the last few years

- USDA attaché projects Indonesia's 2016/17 soybean imports at 2.32 MMT, less than USDA's official forecast of 2.4 MMT and compared to 2.294 MMT in 2015/16

- USDA attaché in Indonesia forecasts palm oil production at 35 MMT in 2016/17, in line with USDA's official projection and bigger than 32 MMT in 2015/16. Indonesian palm oil exports in 2016/17 are expected at 25 MMT (26 MMT – USDA's official projection and 23.5 MMT in 2015/16) and domestic consumption – at 9.62 MMT (9.1 MMT – USDA's official projection and 9.52 MMT in 2015/16)

- Egypt has contracted to import about 300,000 MT of vegetable oil, which would be arriving in the coming weeks

- Ukrainian farmers have planted winter rapeseed at 845,200 ha (117% of plan) vs. 649,000 ha last year. Ukraine's Ag Min said that around 93% winter rapeseed were emerged vs. 86% a year ago; about 82% of emerged crops were in good and satisfactory condition vs. 67% last year and 18% were in poor condition vs. 32% a year ago

- Strategie Grains lowered its 2016 EU rapeseed crop estimate to 20.08 MMT, down 40,000 MT from previous and down 8.7% from the 2015 harvest (22.04 MMT), but forecasted recover to 22.07 MMT in 2017

- Strategie Grains trimmed its 2016 EU sunflower crop estimate by 30,000 MT to 8.28 MMT (7.59 MMT in 2015). They forecast a 3.1% increase of crop to 8.54 MMT in 2017

- Strategie Grains raised its 2016 EU soybean crop estimate to 2.34 MMT from previous estimate of 2.31 MMT (2.28 MMT) and expects further increase of crop to 2.51 MMT in 2017

- ABARES lowered its estimate of Australia's 2016/17 canola crop to 3.581 MMT from previous forecast of 3.632 MMT in September, but up 21.6% from 2.944 MMT in 2015/16