WHEAT

- Dec 5 - Argentina grants export licenses for 151,135 MT of milling wheat

- US wheat export inspections for week, ending Dec 1, recorded 453,633 MT, near the high end of trade expectations (275-475 TMT). Inspections for 2016/17 are running 28.9% ahead of year-ago

- Kazakhstan will soon ship its first 700 MT of wheat to Vietnam. Traditionally, Kazakhstan exports wheat to Uzbekistan, Tajikistan, Russia, Iran and China

- Statistics Canada raised its estimate of Canada's 2016 all-wheat crop to 31.729 MMT from previous forecast of 30.487 MMT in August, the second largest wheat crop in 25 years and above average market expectation of 30.8 MMT

- Dec 6 - Russia bought 19,035 MT of intervention grain (16,875 MT of wheat and 2,160 MT of barley) via tender on the NTB (National Trade Exchange, Moscow Exchange). Making the total bought since Sep 19 at 840,645 MT of 2016/17 grain (789,750 MT of wheat and 50,895 MT of barley)

- IKAR lowered its forecast for Russia's 2016/17 wheat exports to 28.5 MMT from 29.0 MMT earlier

- Dec 6 - China sold 424,741 MT of wheat from state reserves or 15.3% of the of the offered amount (2,779,027 MT) at auction at average price of 2,507 RMB/mt (365 $/mt)

CORN

- Dec 6 - USDA announced export sales of 276,000 MT of US corn for delivery to South Korea during 2016/17

- Dec 5 - Argentina grants export licenses for 58,280 MT of corn

- US corn export inspections for week, ending Dec 1, reported 1,150,233 MT, higher than the top end of market forecasts (750-950 TMT). Inspections for 2016/17 are running 88.8% ahead year-ago

- Informa Economics projected Argentina's 2016/17 corn production at 36.5 MMT

- South Africa approved imports of genetically modified corn from the US for the first time. And some analysts expect that by the end of April, South Africa may import from the US 300,000 MT of GM white corn and 500,000 MT of yellow corn. South Africa imported 595,489 MT of white corn between May 1 and Dec 2 (580,789 MT of Mexican and 14,700 MT of US) and 1038,783 MT of yellow corn (897,016 MT of Argentine, 94,462 MT of Brazilian, 28,801 MT of Ukrainian and 17,504 MT of Romanian)

- Zimbabwe imported more than 300,000 MT of maize in 2016 after drought

- Statistics Canada raised its forecast for Canada's 2016 corn crop to 13.193 MMT, slightly above average market expectation of 13.1 MMT but below last year's 13.559 MMT

- Statistics Canada raised its estimate of Canada's 2016 barley crop to 8.784 MMT, above average market expectation of 8.7 MMT and last year's 8.226 MMT

- Statistics Canada raised its estimate of Canada's 2016 oats crop to 3.147 MMT, above average market expectation of 2.9 MMT but below last year's 3.428 MMT

- Statistics Canada raised its estimate of Canada's 2016 peas crop to a record 4.836 MMT, in line with average market expectation of 4.8 MMT and above last year's 3.201 MMT

- Statistics Canada raised its estimate of Canada's 2016 lentils crop to a record 3.248 MMT, slightly below average market expectation of 3.3 MMT but above last year's 2.541 MMT

- South Korea plans to cull more chickens and ducks as it tries to contain an outbreak of bird flu, with a total of around 8% of the nation's poultry population expected to be slaughtered

SOYBEAN

- Dec 6 - USDA announced export sales of 576,000 MT of US soybeans for delivery:

  • 198,000 MT to China during 2016/17;
  • 378,000 MT to unknown destinations during 2016/17 (246 TMT) and 2017/18 (132 TMT)

- Dec 5 - Argentina grants export licenses for 138,800 MT of soymeal and 9,750 MT of soybean oil

- US soybean export inspections for week, ending Dec 1, reported 1,910,189 MT, topping trade expectations that ranged from 1.5 to 1.9 MMT. Inspections for the 2016/17 marketing year are running 18.8% ahead of year-ago

- Informa Economics projected Argentina's 2016/17 soybean production at 56.0 MMT

- Statistics Canada raised its estimate of Canada's 2016 canola crop to 18.424 MMT, below average market expectation of 18.8 MMT but slightly above last year's 18.377 MMT

- Statistics Canada raised its estimate of Canada's 2016 soybean crop to 6.463 MMT, above average market expectation of 6.2 MMT and last year's 6.371 MMT