WHEAT

- Dec 14 - Algeria's OAIC bought 490,000 MT of optional-origin milling wheat, likely from Argentina, US, Germany, at around 199.5-200 $/mt c&f for February shipment, from three sellers, incl. Cargill and Invivo

- Dec 15 - Argentina grants export licenses for 230,661 MT of milling wheat and 4,329 MT of wheat flour

- According to TAXUD, the EU this season in period of Jul 1-Dec 13, 2016/17 exported 11.131 MMT of soft wheat compared to 11.022 MMT a year ago

- Weekly US wheat export sales data for week ended Dec 8 totalled 564,300 MT, incl. 531,300 MT for 2016/17 (topped the trade expectations for 300-500 TMT). Export commitments for 2016/17 are running 33% ahead of year-ago

- Informa Economics lowered its estimates of US winter wheat plantings for harvest in 2017 to 33.213 million acres from 33.761 million

- Dec 15 - The US launched a challenge to China's use of tariff-rate quotas (TRQs) for rice, wheat and corn at the WTO

- Ukraine's Ag Min said Ukraine exported 20.061 MMT of grain between July 1-Dec 15, 2016, up 4.6% from 19.181 MMT for the same period last year, including:

  • wheat – 10.6 MMT (vs. 9.5 MMT a year ago);
  • barley – 4.1 MMT (3.9 MMT);
  • corn – 5.3 MMT (5.75 MMT)

- 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 56.7% completed as of Dec 15, ahead of last year's pace of 50.4%

CORN

- Dec 16 - South Korea's KOCOPIA bought 60,000 MT of US corn from Pan Ocean at 191.77 $/mt c&f including surcharge for additional port unloading for April 10 arrival

- Dec 15 - Argentina grants export licenses for 61,250 MT of barley

- EU this season in period of Jul 1-Dec 13, 2016/17 imported 4.22 MMT of corn (maize) vs. 5.2 MMT a year ago

- EU this season in period of Jul 1-Dec 13, 2016/17 exported 1.193 MMT of corn vs. 937 TMT a year ago

- EU this season in period of Jul 1-Dec 13, 2016/17 exported only 1.882 MMT of barley vs. 5.429 MMT a year ago

- EU this season in period of Jul 1-Dec 13, 2016/17 exported 1.29 MMT of malt in barley equivalent vs. 1.47 MMT a year ago

- Weekly US corn export sales data for week ended Dec 8 of 1,540,100 MT, incl. 1,516,000 MT for 2016/17 (well above a range of trade expectations for 0.8-1.1 MMT). Export commitments for 2016/17 are running 77% ahead of year-ago

- Informa Economics raised its US 2016 corn yield estimate to 176.1 bpa for a crop of 15.275 billion bushels/388 MMT

- Informa Economics lowered its forecast of US 2017 corn plantings to 90.151 million acres from 90.841 million acres in November

- US Ethanol production for the week ended Dec 9 rose by 17,000 barrels to a record 1,040,000 barrels per day, up 4% from last year's level of 1,000,000 bpd. Stocks climbed by 546,000 barrels from the week prior to 19.076 million barrels, but down 6.1% vs. 20.322 million barrels 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 57.4% of the crop has been planted as of Dec 15, behind last year's pace of 59.3%

- Buenos Aires Grain Exchange expects Argentine 2016/17 sorghum acreage at 800,000 ha, 6% decline from last year (850,000 ha in 2015/16). Exchange estimates 61.5% of the crop has been planted as of Dec 15, behind last year's pace of 64.1%

- ADM has agreed to pay $25,000 to settle charges it broke rules in the US corn futures market

- South Korea has ordered its biggest-ever cull of poultry to fight a bird flu outbreak. Agriculture ministry ordered the cull of 4 million more birds, which would bring the total number killed since mid-November to 16 million, almost one-fifth of its poultry population

SOYBEAN

- Dec 15 - USDA announced export sales of 132,000 MT of US soybeans for delivery to China during 2016/17

- Dec 15 - Argentina grants export licenses for 50,180 MT of soymeal and 12,600 MT of sunflower meal

- Weekly US soybean export sales data for week ended Dec 8 of 2,404,900 MT, incl. 2,008,400 MT for 2016/17 (topped the high end of a range of trade estimates of 1.1-1.5 MMT) and 396,500 MT for 2017/18 (near the high end of trade expectations of 200-400 TMT). Export commitments for 2016/17 are running 29% ahead of year-ago

- Informa Economics raised its US 2016 soybean yield estimate to 52.8 bpa for a crop of 4.381 billion bushels/119.23 MMT

- Informa Economics raised its forecast of US 2017 soybean seedings to a record high of 88.862 million acres from 88.612 million acres in November

- NOPA said its members crushed 160,752 million bushels of soybeans during November, less than expected (162.568 million bu – avg., 159.3-168 mln bu – range), but higher than a year earlier. NOPA processors crashed 164.641 mln bu in October and 156.134 mln bu a year ago. Soyoil stocks fell to 1.339 billion lbs as of November 30 from 1.343 a month earlier, down from last year's level of 1.477 billion lbs and below the average expectations of 1.381 billion lbs. Soymeal exports rose to 804,332 tons from 562,180 tons in Sept, but down from 848,441 tons a year ago

- 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 66.5% of the crop has been planted as of Dec 15 vs. 72.4% this time last year

- Buenos Aires Grain Exchange said Argentina's 2016/17 sunseed planting was completed as of Dec 15 at 1.7 mln ha (1.22 mln ha in 2015/16)