WHEAT

- May 4 - Tunisia's state grains agency bought 75,000 MT of optional-origin durum wheat in 3 consignments of 25,000 MT:

  • 25,000 MT of durum wheat from Casillo at 257.49 $/mt c&f for Aug 15-Sept 5 shipment;
  • 25,000 MT of durum wheat from Finagrit at 258.59 $/mt c&f for Sept 15-Oct 5;
  • 25,000 MT of durum wheat from Casillo at 259.98 $/mt c&f for Oct 15-Nov 5

- May 4 - Argentina registered 50,696 MT of wheat for export

- May 3 - Argentina registered 65,633 MT of wheat for export

- Weekly US wheat export sales data for week ended Apr 27 totalled 821,800 MT, incl. 258,400 MT for 2016/17 (topped trade expectations for 0-150 TMT) and 563,400 MT for 2017/18 (above trade expectations for 200-400 TMT). Export commitments for 2016/17 are running 39% ahead of year-ago

- EU in week ended April 28 awarded licenses to import 118,764 MT of Ukrainian wheat under an annual duty-free quota. The award meant that the EU had now awarded almost 100% (957,306 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-May 2, 2016/17 exported 20.704 MMT of soft wheat compared to 25.458 MMT a year ago. Top 5 export destinations in 2016/17 are Algeria (16.9%), Saudi Arabia (13.5%), Vietnam (7%), Egypt (6.6%) and Morocco (6.1%)

- FranceAgriMer said 75% of France’s soft wheat crops were in good to excellent condition as of May 1, down 3% points from the prior week and vs. 87% a year ago; durum rating at 62% in good to excellent vs. 63% a week-ago and vs. 79% a year-ago

- Ukraine exported 1.198 MMT of wheat in April 2017. Ukraine's July-April 2016/17 wheat exports rose 11.1% on year to 15.812 MMT

- Ukraine's Ag Min reports that 7.12 mln ha of Ukraine's winter grain crops continue vegetation, thereof about 90% of crops were in good to satisfactory condition

- Russian Ag Min estimated spring planting 25.3% (or 13.34 million ha) done as of May 5 vs. 13.54 million ha a year ago. Of the total Russian farmers planted 7.66 million ha of spring grain or 24.7% of planned area (8.22 mln ha a year ago). Russian farmers have sown 1.15 million ha of spring wheat or 8.5% of planned area as of May 5 vs. 1.39 million ha a year ago

- IKAR has reduced its forecast of Russia's 2016/17 wheat exports by 0.4 MMT to 27.1 MMT and slashed its estimate for 2016/17 total grain export from 36.6 MMT to 36 MMT

- Kazakh farmers planted 347,300 ha of spring cereals crops as of May 4 vs. 477,200 ha a year ago

- USDA attaché forecasts Kazakhstani wheat production in 2017/18 at 13.0 MMT, 2 MMT less than in 2016/17, as wheat sown area is expected to fall. Kazakh wheat exports are forecast to remain flat in 2017/18 at 7.0 MMT

- USDA attaché forecasts Indian wheat production in 2017/18 at a record 96.5 MMT (87 MMT in 2016/17). 2017/18 imports are forecast lower at 4 MMT (6 MMT in 2016/17) due to the expected increase in domestic production. 2016/17 wheat ending stocks are raised to 9.6 MMT due to unexpectedly high government stocks, coupled with lower levels of consumption at 92.8 MMT

- FAO lifted its forecast of global wheat production in 2017 to 740.4 MMT from 739.9 MMT projected in April, indicating a 2.6% (19.9 MMT) decline from the 2016 record level. The lower year-on-year production estimate reflects smaller crops in Australia, Canada, Russia and the US, which more than outweigh the expansions in the EU, India and Morocco. Global wheat stocks (ending in 2018) are set to expand by 3.3% to a new high of 247.6 MMT (246.5 MMT – previous forecast in April) vs. 239.6 MMT in 2016/17

- Statistics Canada (StatsCan) said Canadian wheat inventories as of Mar 31, 2017 rose 15.5% on year to 16.6 MMT, but well below than average trade estimate of 18.3 MMT

CORN

- May 5 - China sold a total 2,194,944 MT of corn from state reserves via auctions:

  • 370,177 MT of 2012 corn, or 72% of the offered amount (514,320 MT) at average price of 1,425 RMB/mt (207 $/mt)
  • 1,824,767 MT of 2013 corn, or 90.8% of the offered amount (2,009,389 MT), at average price of 1,379 RMB/mt (200 $/mt)

- May 4 - Argentina registered for export 22,000 MT of corn and 9,000 MT of malting barley

- May 3 - Argentina registered 223,315 MT of corn for export

- Weekly US corn export sales data for week ended Apr 27 of 795,700 MT, incl. 771,600 MT for 2016/17 (within the trade expectations for 700-900 TMT) and 24,100 MT for 2017/18 (within trade estimates of 0-200 TMT). Export commitments for 2016/17 are running 37% ahead of year-ago

- EU in week ended April 28 awarded licenses to import 59,229 MT of corn under an annual duty-free quota open to all countries

- EU in week ended Apr 28 awarded licenses to import 1,812 MT of Ukrainian barley under an annual duty-free quota. The award meant that the EU had now awarded 21.72% (58,650 MT) out of a total volume of 270,000 MT available in 2017

- EU this season in period of Jul 1-May 2, 2016/17 imported 9.731 MMT of corn (maize) vs. 11.663 MMT a year ago. Top 5 import origins in 2016/17 are Ukraine (62%), Russia (9.3%), Brazil (8.8%), Canada (6.4%) and the US (5.2%)

- EU this season in period of Jul 1-May 2, 2016/17 exported 1.923 MMT of corn vs. 1.5 MMT a year ago. Top 5 export destinations in 2016/17 are Egypt (25.7%), Lebanon (12.5%), Libya (7.7%), Vietnam (7.6%) and Syria (7.4%)

- EU this season in period of Jul 1-May 2, 2016/17 exported 4.385 MMT of barley vs. 9.36 MMT a year ago. Top 5 export destinations in 2016/17 are Saudi Arabia (42.3%), Tunisia (8.5%), China (7.5%), Jordan (6.5%) and Libya (6.4%)

- EU this season in period of Jul 1-May 2, 2016/17 exported 2.421 MMT of malt in barley equivalent vs. 2.8 MMT a year ago. Top 5 export destinations in 2016/17 are Japan (11.1%), Vietnam (9.8%), Nigeria (5.5%), Brazil (4.1%) and South Africa (3.4%)

- FranceAgriMer estimated France’s corn planting 84% done as of May 1 (76% week ago), well ahead of last year pace of 41%

- FranceAgriMer said 68% of France’s winter barley crops were in good to excellent condition as of May 1, down 3% points from the prior week and below the year-ago score (86%). Spring barley rating was at 77% in good to excellent vs. 80% last week and vs. 93% a year ago

- Ukraine exported 1.949 MMT of corn in April 2017. Ukraine's Sept-Apr 2016/17 corn exports rose 10.7% on year to 15.535 MMT

- Ukraine exported 258 TMT of barley in April 2017. Ukraine's July-Apr 2016/17 barley exports rose 22.3% on year to 5.136 MMT

- Ukraine’s Ag Min estimated early spring grain planting 98% done as of May 5 (99% o as of May 6, 2016). Ukrainian farmers planted 2.3 million ha of spring crops, thereof 1.5 million ha of barley (or 95% of planned area) vs. 1.8 mln ha a year ago, 378,000 ha of peas (well above initial plan and vs. 226,000 ha a year ago), 197,000 ha of oats (or 95%) and 167,000 ha of wheat (or 94%)

- Ukrainian farmers have sown 3.1 million ha of corn or 69% of planned area as of May 5 vs. 3.5 million ha a year ago

- Russian farmers have sown 3.14 million ha of spring barley or 40.8% of planned area as of May 5 vs. 3.67 million ha a year ago

- Russian farmers have sown 1.77 million ha of corn or 57.8% of planned area as of May 5 vs. 1.39 million ha a year ago

- Buenos Aires Grain Exchange maintains its forecast for Argentina's 2016/17 corn crop at 37 MMT, up 23.3% vs. 30 MMT in 2015/16. Harvesting of Argentine corn crop was 29% completed as of May 4 vs. last year’s pace of 26.3%

- Buenos Aires Grain Exchange forecasts Argentine 2016/17 sorghum crop at 3.2 MMT, down 6% from 2015/16 crop (3.4 MMT). Harvesting of Argentine sorghum crop was 35.2% completed as of May 4 vs. last year’s pace of 36.6%

- FAO raised its forecast for 2017/18 global maize output to a new record 1,054 MMT, some 3.3 MMT (0.3%) higher than in April. An upward revision to Brazil’s production forecast, driven by higher than previously anticipated yields, accounts for most of the adjustment

- Statistics Canada (StatsCan) said Canadian corn inventories as of Mar 31, 2017 rose 7.7% on year to a record high 8.36 MMT

- Statistics Canada (StatsCan) said Canadian barley inventories as of Mar 31, 2017 rose 22.6% on year to 4.58 MMT, above than average estimate of 4.4 MMT

SOYBEAN

- May 4 - Egypt’s GASC bought 30,000 MT of soybean oil from ADM at 776.5 $/mt c&f for June 20-July 10 arrival

- May 4 - Argentina registered for export 45,000 MT of soybeans, 319,517 MT of soymeal and 15,000 MT of soybean oil

- May 3 - Argentina registered for export 1.104 MMT of soybeans, 315,320 MT of soymeal and 218,281 MT of soybean oil

- Pakistan recently bought about 65,000 MT of US soybeans for Sept shipment

- Pakistan recently bought more than 100,000 MT of rapeseed from Black Sea region for July-August shipment

- Buenos Aires Grain Exchange kept its Argentina's 2016/17 soybean harvest estimate at 56.5 MMT, up from 56 MMT in 2015/16. Harvesting of Argentine soybean crop was 49% completed as of May 4 vs. last year’s pace of 41.5%

- Weekly US soybean export sales data for week ended Apr 27 of 331,300 MT, incl. 318,500 MT for 2016/17 (within market estimates of 300-500 TMT) and 12,800 MT for 2017/18 (below trade estimates of 100-300 TMT). Export commitments for 2016/17 are running 23% ahead of year-ago

- EU this season in period of Jul 1-May 2, 2016/17 imported 11.169 MMT of soybeans vs. 11.881 MMT a year ago. Top 5 import origins in 2016/17 are the US (41.8%), Brazil (30.4%), Canada (9%), Paraguay (8.5%) and Ukraine (4.3%)

- EU this season in period of Jul 1-May 2, 2016/17 imported 14.602 MMT of soymeal vs. 16.91 MMT a year ago. Top 5 import origins in 2016/17 are Argentina (46.7%), Brazil (38.8%), Paraguay (7.2%), India (1.5%) and US (1.5%)

- EU this season in period of Jul 1-May 2, 2016/17 imported 230,597 MT of soybean oil vs. 264,746 MT a year ago. Top 5 import origins in 2016/17 are Serbia (25.3%), Norway (25.3%), Ukraine (23.2%), Russia (14%) and Paraguay (9.1%)

- EU this season in period of Jul 1-May 2, 2016/17 imported 3.483 MMT of rapeseed vs. 3.003 MMT a year ago. Top import origins in 2016/17 are Australia (55.9%), Ukraine (25%) and Canada (17.3%)

- EU this season in period of Jul 1-May 2, 2016/17 imported 165,676 MT of rapeseed meal vs. 383,906 MT a year ago. Top 5 import origins in 2016/17 are Russia (50.2%), Ukraine (30.1%), Canada (5.9%), China (4.8%) and Serbia (4.7%)

- EU this season in period of Jul 1-May 2, 2016/17 imported 128,628 MT of rapeseed oil vs. 190,195 MT a year ago. Top 5 import origins in 2016/17 are Ukraine (50.5%), Russia (27.8%), Belarus (10.6%), Serbia (9.1%) and Bosnia and Herzegovina (1.6%)

- EU this season in period of Jul 1-May 2, 2016/17 imported 744,871 MT of sunflowerseed vs. 310,673 MT a year ago. Top 5 import origins in 2016/17 are Moldova (37.4%), Argentina (16.3%), Ukraine (15.7%), Serbia (8.9%) and Russia (7.9%)

- EU this season in period of Jul 1-May 2, 2016/17 imported 2.849 MMT of sunflower meal vs. 2.611 MMT a year ago. Top 5 import origins in 2016/17 are Ukraine (68.7%), Russia (14.2%), Argentina (13.1%), Serbia (1.7%) and China (0.7%)

- EU this season in period of Jul 1-May 2, 2016/17 imported 1.161 MMT of sunflower oil vs. 1.059 MMT a year ago. Top import origins in 2016/17 are Ukraine (90.6%), Moldova (4.5%) and Serbia (3.2%)

- EU this season in period of Jul 1-May 2, 2016/17 imported 4.72 MMT of palm oil vs. 5.706 MMT a year ago. Top 5 import origins in 2016/17 are Indonesia (50.7%), Malaysia (23.9%), Papua New Guinea (8.7%), Guatemala (5.6%) and Honduras (5.5%)

- Ukraine exported 182 TMT of soybeans in April 2017. Ukraine's Sept-Apr 2016/17 soybean exports rose 48.2% on year to 2.566 MMT

- Ukraine exported 49 TMT of rapeseed in April 2017. Ukraine's July-Apr 2016/17 rapeseed exports fell 28.2% on year to 1.018 MMT

- Ukraine exported 575 TMT of sunflower oil in April 2017. Ukraine's Sept-Apr 2016/17 sunoil exports rose 30.4% on year to 3.968 MMT

- Ukrainian farmers have sown 3.8 million ha of sunflower or 70% of planned area as of May 5 vs. 3.9 million ha a year ago

- Ukrainian farmers have sown 793,000 ha of soybeans or 41% of planned area as of May 5 vs. 1.1 million ha a year ago

- Ukraine's Ag Min reports that 827,000 ha of Ukraine's winter rape crops continue vegetation, thereof about 86% of crops were in good to satisfactory condition

- Russian farmers have sown 2.33 million ha of sunflower or 32.6% of planned area as of May 5 vs. 2.11 million ha a year ago

- Russian farmers have sown 184,300 ha of rapeseed or 20.9% of planned area as of May 5 vs. 115,200 ha a year ago

- Russian farmers have sown 476,000 ha of soybeans or 21% of planned area as of May 5 vs. 223,400 ha a year ago

- Statistics Canada (StatsCan) said Canadian canola inventories as of Mar 31, 2017 fell 23.3% on year to 6.57 MMT, slightly below than average estimate of 6.7 MMT and the smallest Mar 31 level in four years

- Statistics Canada (StatsCan) said Canadian soybean inventories as of Mar 31, 2017 fell 4.2% on year to 1.86 MMT