WHEAT

- Apr 26 - Israeli group bought around 30,000 MT of optional-origin feed wheat in 2 consignments at 175 $/mt c&f for June 20-July 10 and 172.5 $/mt c&f for July 20-Aug 10 shipment

- Apr 26 - Algeria's OAIC bought 250,000 MT of optional-origin durum wheat (mostly from Canada) at around 248-250 $/mt c&f for June shipment

- Apr 26 - Argentina registered for export 17,754 MT of wheat and 4,890 MT of wheat flour

- Apr 26 - China auctioned 4,200 MT of imported 2013 wheat from state reserves, or 4.6% of the offered amount (93,300 MT), at average price of 2,532 RMB/mt (368 $/mt)

- Morocco has raised its soft wheat import custom tax to 135% from 30% until December 31, the highest rate in years thanks to strong harvest and low international prices

- Weekly US wheat export sales data for week ended Apr 20 totalled 367,100 MT, incl. 61,700 MT for 2016/17 (well below trade expectations for 300-500 TMT) and 305,400 MT for 2017/18 (above trade expectations for 50-250 TMT). Export commitments for 2016/17 are running 39% ahead of year-ago

- EU in week ended April 21 awarded licenses to import 6,426 MT of Ukrainian wheat under an annual duty-free quota. The award meant that the EU had now awarded 87% (838,542 MT) out of a total volume of 960,000 MT available in 2017

- According to TAXUD, the EU this season in period of Jul 1-Apr 25, 2016/17 exported 20.29 MMT of soft wheat compared to 24.709 MMT a year ago. Top 5 export destinations in 2016/17 are Algeria (17%), Saudi Arabia (13.7%), Vietnam (7.2%), Egypt (6.2%) and Morocco (6.1%)

- Egypt has procured just over 110,000 MT of wheat from farmers since the start of its local harvest earlier this month vs. 129,000 MT during the same period last year

- Russia's Ag Min plans to start buying grain of 2017 harvest for interventions in August

- Ukraine's Ag Min said Ukraine exported 36.445 MMT of grain between July 1-Apr 26, 2016/17, up 9.8% from 33.175 MMT for the same period last season, including:

  • wheat – 15.492 MMT (vs. 13.868 MMT a year ago);
  • corn – 15.623 MMT (15.012 MMT);
  • barley – 5.126 MMT (4.09 MMT)

- International Grains Council (IGC) raised its forecast for world wheat production in 2017/18 to 736.3 MMT (753.4 MMT in 2016/17), up by 1.8 MMT from the previous forecast, with an upward revision for Argentina, Canada and Kazakhstan. Forecast of global wheat ending stocks was increased by 5.4 MMT to 239 MMT (240 MMT in 2016/17)

- USDA attaché forecasts Argentina’s 2017/18 wheat production at 16.65 MMT (16 MMT in 2016/17), and exports at 10.5 MMT (10.2 MMT in 2016/17)

CORN

- Apr 26 - Israeli group bought around 70,000-80,000 MT of optional-origin corn, likely South American, in 2 consignments at a premium of 78 US cents/bu c&f over the Chicago September contract (~177.8 $/mt) c&f for June 20-July 10 and a premium of 74 US cents/bu c&f over the Chicago September contract (~176.3 $/mt) c&f for July 20-Aug 10 shipment

- Apr 26 - Israeli group bought around 20,000 MT of optional-origin feed barley in 2 consignments at 165 $/mt c&f for June 20-July 10 and 164.5 $/mt c&f for July 20-Aug 10 shipment

- Apr 26 - Argentina registered 118,500 MT of corn for export

- Weekly US corn export sales data for week ended Apr 20 of 999,000 MT, incl. 987,900 MT for 2016/17 (above the trade expectations for 700-900 TMT) and 11,100 MT for 2017/18 (below trade estimates of 50-250 TMT). Export commitments for 2016/17 are running 38% ahead of year-ago

- EU this season in period of Jul 1-Apr 25, 2016/17 imported 9.474 MMT of corn (maize) vs. 11.553 MMT a year ago. Top 5 import origins in 2016/17 are Ukraine (61.3%), Russia (9.4%), Brazil (9%), Canada (6.5%) and the US (5.3%)

- EU this season in period of Jul 1-Apr 25, 2016/17 exported 1.915 MMT of corn vs. 1.448 MMT a year ago. Top 5 export destinations in 2016/17 are Egypt (25.8%), Lebanon (12.3%), Libya (7.7%), Vietnam (7.7%) and Syria (7.4%)

- EU this season in period of Jul 1-Apr 25, 2016/17 exported 4.37 MMT of barley vs. 9.315 MMT a year ago. Top 5 export destinations in 2016/17 are Saudi Arabia (42.4%), Tunisia (8.5%), China (7.5%), Jordan (6.6%) and Libya (6.4%)

- EU this season in period of Jul 1-Apr 25, 2016/17 exported 2.378 MMT of malt in barley equivalent vs. 2.744 MMT a year ago. Top 5 export destinations in 2016/17 are Japan (11%), Vietnam (9.7%), Nigeria (5.4%), Brazil (4.1%) and South Africa (3.5%)

- IGC raised its forecast for the global corn crop in 2017/18 by 2.1 MMT to 1.026 billion tonnes (1.059 BMT in 2016/17), partly reflecting a higher forecast for Canada. IGC increased its forecast for 2017/18 global corn carryover by 2 MMT from March to 206.9 MMT (226.8 MMT in 2016/17)

- USDA attaché forecasts Argentina’s 2017/18 corn production at 39 MMT (38.5 MMT in 2016/17), and exports at a record 28 MMT (26.5 MMT in 2016/17)

- USDA attaché forecasts Argentina’s 2017/18 barley production at 2.8 MMT (3.15 MMT in 2016/17), and exports at 1.4 MMT (1.95 MMT in 2016/17)

- USDA attaché forecasts Argentina’s 2017/18 sorghum production at 3.35 MMT (3.2 MMT in 2016/17), and exports at 500 TMT (600 TMT in 2016/17)

- US Ethanol production for the week ended Apr 21 decreased by 6,000 barrels to 987,000 barrels per day, up 6.5% from last year's level of 927,000 bpd. Stocks increased by 235,000 barrels from the week prior to 23.269 million barrels, up 7.6% vs. 21.629 million barrels a year ago

SOYBEAN

- Apr 26 - Argentina registered 9,428 MT of sunflower oil for export

- Weekly US soybean export sales data for week ended Apr 20 of 880,400 MT, incl. 808,100 MT for 2016/17 (well above market estimates of 250-450 TMT) and 72,300 MT for 2017/18 (below trade estimates of 100-300 TMT). Export commitments for 2016/17 are running 24% ahead of year-ago

- Argentine March soybean crush was reported at 3.36 MMT, up from revised of 2.62 MMT in February and up 3.9% from last year

- Argentine March sunflower crush was reported at 416,095 MT, doubling from 203,940 MT in February and up 1.1% from last year

- Stocks of soymeal at Argentine mills totalled 812,159 MT at the end of March 2017, up by 14.8% from a year-ago

- Stocks of soybean oil at Argentine mills are estimated at 257,494 MT at the end of March 2017, down by 23.6% from a year-ago

- Stocks of sunoil at Argentine mills are estimated at 87,461 MT at the end of March 2017, down by 15.8% from a year-ago

- Stocks of sunflower meal at Argentine mills are estimated at 98,947 MT at the end of March 2017, up by 0.3% from a year-ago

- IGC raised its forecast for 2017/18 global soybean production by 3.1 MMT to a record 347.8 MMT (344.5 MMT in 2016/17). IGC lifted global 2017/18 soybean carryover to 37.8 MMT (40.1 MMT in 2016/17), up by 2.4 MMT from prior month

- Malaysia will lower its crude palm export tax to 7.0% in May, down from 7.5% in April. Malaysia calculated a reference price of 3,008 MYR/mt (680.4 $/mt) for May

- Indonesia will lower the export tax for crude palm oil to zero in May, down from 3 $/mt in April

- EU this season in period of Jul 1-Apr 25, 2016/17 imported 10.946 MMT of soybeans vs. 11.494 MMT a year ago. Top 5 import origins in 2016/17 are the US (41.8%), Brazil (30.3%), Canada (9%), Paraguay (8.4%) and Ukraine (4.3%)

- EU this season in period of Jul 1-Apr 25, 2016/17 imported 14.396 MMT of soymeal vs. 16.716 MMT a year ago. Top 5 import origins in 2016/17 are Argentina (46.7%), Brazil (39%), Paraguay (7.1%), India (1.5%) and US (1.5%)

- EU this season in period of Jul 1-Apr 25, 2016/17 imported 225,688 MT of soybean oil vs. 260,611 MT a year ago. Top 5 import origins in 2016/17 are Serbia (25.2%), Norway (24.7%), Ukraine (23.3%), Russia (14.3%) and Paraguay (9.3%)

- EU this season in period of Jul 1-Apr 25, 2016/17 imported 3.449 MMT of rapeseed vs. 2.966 MMT a year ago. Top import origins in 2016/17 are Australia (56.4%), Ukraine (25%) and Canada (16.7%)

- EU this season in period of Jul 1-Apr 25, 2016/17 imported 165,454 MT of rapeseed meal vs. 381,364 MT a year ago. Top 5 import origins in 2016/17 are Russia (50.2%), Ukraine (30.1%), Canada (5.9%), China (4.9%) and Serbia (4.7%)

- EU this season in period of Jul 1-Apr 25, 2016/17 imported 126,212 MT of rapeseed oil vs. 189,188 MT a year ago. Top 5 import origins in 2016/17 are Ukraine (51.4%), Russia (26.5%), Belarus (10.8%), Serbia (9.2%) and Bosnia and Herzegovina (1.6%)

- EU this season in period of Jul 1-Apr 25, 2016/17 imported 734,553 MT of sunflowerseed vs. 305,892 MT a year ago. Top 5 import origins in 2016/17 are Moldova (36.9%), Argentina (16.5%), Ukraine (15.7%), Serbia (9.1%) and Russia (8%)

- EU this season in period of Jul 1-Apr 25, 2016/17 imported 2.807 MMT of sunflower meal vs. 2.532 MMT a year ago. Top 5 import origins in 2016/17 are Ukraine (68.6%), Russia (14.4%), Argentina (13.1%), Serbia (1.7%) and China (0.6%)

- EU this season in period of Jul 1-Apr 25, 2016/17 imported 1.127 MMT of sunflower oil vs. 1.027 MMT a year ago. Top import origins in 2016/17 are Ukraine (90.4%), Moldova (4.6%) and Serbia (3.3%)

- EU this season in period of Jul 1-Apr 18, 2016/17 imported 4.586 MMT of palm oil vs. 5.578 MMT a year ago. Top 5 import origins in 2016/17 are Indonesia (51.1%), Malaysia (23.7%), Papua New Guinea (8.4%), Guatemala (5.8%) and Honduras (5.4%)