WHEAT

- June 4 - Iraq seeks at least 50,000 MT of hard wheat from either the US, Canada or Australia. The tender closes on June 4 and offers must remain valid up to June 8

- May 25 - South Korea's MFG purchased 65,000 MT of feed wheat, likely from Black Sea region, at 188.5 $/mt c&f plus a 1.25 $/mt surcharge for additional port unloading for Nov 20 arrival

- May 25 - Japan bought 117,800 MT of food wheat for June-July shipments:

  • 23,260 MT of western white US wheat;
  • 21,250 MT of hard red winter US wheat;
  • 35,420 MT of dark northern spring US wheat;
  • 37,870 MT of Australian standard white wheat

- May 26 - Argentina registered 35,000 MT of wheat for export

- May 24 - Argentina registered 96,500 MT of wheat for export

- Weekly US wheat export sales data for week ended May 18 totalled 544,800 MT, incl. 201,900 MT for 2016/17 (topped trade expectations for 0-200 TMT) and 342,900 MT for 2017/18 (in line with trade expectations of 250-450 TMT). Export commitments for 2016/17 are running 37% ahead of year-ago

- Russia’s Ag Min said Russia exported about 32.706 MMT of grain between July 1-May 24, 2016/17, up by 1.2% from 32.28 MMT a year ago, including:

  • wheat – 25.236 MMT (23.367 MMT a year ago);
  • barley – 2.673 MMT (4.207 MMT);
  • corn – 4.558 MMT (4.394 MMT);
  • others – 239 TMT (312 TMT)

- SovEcon has lowered its outlook for Russia's 2017 grain crop by 3.0 MMT to 106.5 MMT (120.7 MMT in 2016), incl. 63 MMT of wheat (73.3 MMT in 2016). Meanwhile SovEcon forecasts Russia's 2017/18 grain exports at 36 MMT (incl. 27 MMT of wheat) up from March forecast of 34.5 MMT (incl. 24.5 MMT of wheat) and vs. 36.5 MMT (incl. 27.5 MMT of wheat) this season

- Russian Ag Min estimated spring planting 77.7% (or 40.91 million ha) done as of May 26 vs. 42.22 million ha a year ago. Of the total Russian farmers planted 24.84 million ha of spring grain or 80.1% of planned area (26.08 mln ha a year ago). Russian farmers have sown 10.25 million ha of spring wheat or 75.6% of planned area as of May 26 vs. 11.5 million ha a year ago

- Kazakh farmers planted 11.504 million ha of spring cereals crops as of May 29 vs. 12.224 million ha a year ago

- FranceAgriMer said 76% of France’s soft wheat crops were in good to excellent condition as of May 22, up 1% point from the prior week but down vs. 83% a year ago; durum rating at 68% in good to excellent vs. 67% a week-ago and vs. 78% a year-ago

- Bulgaria's Ag Min said Bulgaria exported 1.572 MMT of wheat via port Varna between July 4-May 21, 2016/17, down 1.7% from a year-ago (1.599 MMT)

- Buenos Aires Grain Exchange maintained the country's upcoming 2017/18 wheat crop planting at 5.5 mln ha vs. 5.1 mln ha in 2016/17. Exchange estimates 5.4% of the crop has been planted as of May 24 vs. 3.9% this time last year

- Egypt has bought about 3 MMT of local wheat since the start of the local procurement season on April 15, lagging from last year's pace of 4.4 MMT

- Wheat procurement by Indian government-run agencies is about 29.26 MMT as of May 27. Officials are confident of procuring 30 MMT this year, still short of target. India planned to procure 33 MMT of wheat in 2017 vs. 22.96 MMT of actual procurement in the previous season

- International Grains Council (IGC) slightly lowered its forecast for world wheat production in 2017/18 to 735.9 MMT (754.3 MMT in 2016/17), down by 0.4 MMT from the previous forecast, with revision upward for India and downward for EU and US. Forecast of global wheat ending stocks was decreased by 0.4 MMT to 238.6 MMT (240.6 MMT in 2016/17), while global trade forecast was upped by 3.1 MMT to 169.4 MMT (172.6 MMT in 2016/17)

CORN

- June 1 - Jordan seeks 100,000 MT of optional-origin feed barley for Oct-Nov shipment

- May 25 - South Korea's KOCOPIA bought 55,000 MT of optional-origin corn at 187.95 $/mt c&f including surcharge for additional port unloading for Sept 5 arrival

- May 26 - China sold 2,103,437 MT of 2013 corn from state reserves, or 91.5% of the offered amount (2,299,576 MT), at average price of 1,383 RMB/mt (202 $/mt)

- May 26 - China sold 233,660 MT of 2012 corn from state reserves, or 94.8% of the offered amount (246,583 MT) at average price of 1,155 RMB/mt (168 $/mt)

- May 25 - China sold 3,447,179 MT of 2013 corn from state reserves, or 73.4% of the offered amount (4,699,191 MT), at average price of 1,375 RMB/mt (201 $/mt)

- May 25 - USDA announced export sales of 115,400 MT of US corn for delivery to unknown destinations during 2016/17

- May 26 - Argentina registered 28,000 MT of malting barley for export

- May 26 - Argentina registered 25,000 MT of corn for export

- May 24 - Argentina registered 130,000 MT of corn for export

- Weekly US corn export sales data for week ended May 18 of 457,700 MT, incl. 457,200 MT for 2016/17 (below trade expectations of 600-900 TMT) and 500 MT for 2017/18 (within trade estimates of 0-200 TMT). Export commitments for 2016/17 are running 27% ahead of year-ago

- Ukrainian farmers have sown 4.4 million ha of corn or 97% of planned area as of May 26 vs. 4.4 million ha a year ago

- Russian farmers have sown 6.52 million ha of spring barley or 84.6% of planned area as of May 26 vs. 6.9 million ha a year ago

- Russian farmers have sown 2.75 million ha of corn or 89.7% of planned area as of May 26 vs. 2.51 million ha a year ago

- FranceAgriMer estimated France’s corn planting 100% done as of May 22 (98% week ago), ahead of last year pace of 94%. Corn crop condition was estimated as 87% in good to excellent, up 1% point on the prior week and above the year-ago score of 84%

- FranceAgriMer said 67% of France’s winter barley crops were in good to excellent condition as of May 22, unchanged from the prior week but below the year-ago score (83%). Spring barley rating was at 77% in good to excellent vs. 78% last week and vs. 93% a year ago

- Bulgarian farmers have sown 402,105 ha of corn as of May 18 vs. 404,995 ha a year ago

- Bulgaria's Ag Min said Bulgaria exported only 17,379 MT of barley via port Varna between July 4-May 21, 2016/17, down 88.3% from a year-ago (148,611 MT)

- Buenos Aires Grain Exchange maintains its forecast for Argentina's 2016/17 corn crop at 39 MMT, up 30% vs. 30 MMT in 2015/16. Harvesting of Argentine corn crop was 36% completed as of May 24 vs. last year’s pace of 29.1%

- South Africa's Crop Estimates Committee (CEC) raised its forecast of corn output this year to a record high 15.631 MMT from 14.536 MMT last month. It would be 101% more than last year (7.779 MMT in 2016) and above average market expectations of 14.73 MMT

- SAGIS estimated South Africa's corn stocks as of April 30 were at 1.097 MMT vs. 1.542 MMT a month ago and 2.471 MMT a year ago

- SAGIS estimated S. Africa's May-Apr 2016/17 corn exports at 1.026 MMT vs. 879,811 MT a year ago

- SAGIS estimated S. Africa's May-Apr 2016/17 corn imports at 2.241 MMT vs. 1.964 MMT a year ago

- IGC kept its forecast for the global corn crop in 2017/18 at 1.026 billion tonnes (1.059 BMT in 2016/17). IGC cut its forecast for 2017/18 global corn carryover by 9.4 MMT from April to 197.5 MMT (226 MMT in 2016/17), due to a climb in consumption forecast

- US Ethanol production for the week ended May 19 fell by 17,000 barrels to 1,010,000 barrels per day, up 6.8% from last year's level of 946,000 bpd. Stocks fell by 730,000 barrels from the week prior to 22.684 million barrels, up 9% vs. 20.813 million barrels a year ago

SOYBEAN

- May 26 - Philippines rejected offers and made no purchase in an international tender for 50,000 MT of South American soymeal for Oct-Jan arrival

- May 26 - Argentina registered for export 311,500 MT of soymeal and 20,500 MT of soybean oil

- May 24 - Argentina registered 28,845 MT of soymeal for export

- South Korea's Feed Leaders Committee (FLC) in a deal last week purchased 60,000 MT of South American or US soymeal at 350.99 $/mt c&f including surcharge for additional port unloading for arrival around Oct 10

- Weekly US soybean export sales data for week ended May 18 of 478,700 MT, incl. 472,700 MT for 2016/17 (topped market estimates of 200-400 TMT) and 6,000 MT for 2017/18 (within trade estimates of 0-150 TMT). Export commitments for 2016/17 are running 22% ahead of year-ago

- IGC lifted its forecast for 2017/18 global soybean production by 0.1 MMT to 347.9 MMT (349.8 MMT in 2016/17). IGC raised global 2017/18 soybean carryover to 39.2 MMT (42.9 MMT in 2016/17), up by 1.4 MMT from prior month

- Buenos Aires Grain Exchange kept its Argentina's 2016/17 soybean harvest estimate at 57.5 MMT, up 2.7% from 56 MMT in 2015/16. Harvesting of Argentine soybean crop was 79.6% completed as of May 24 vs. last year’s pace of 72.1%

- China's April sunflower oil imports down 21.7% on year to 106,420 MT (main suppliers: Ukraine (91,179 MT) and Russia (11,595 MT)). China's Jan-Apr sunflower oil imports fell 23.6% on year to 224,242 MT

- Ukrainian farmers have sown 5.4 million ha of sunflower or 100% of planned area as of May 26 vs. 5.2 million ha a year ago

- Ukrainian farmers have sown 1.8 million ha of soybeans or 94% of planned area as of May 26 vs. 1.8 million ha a year ago

- Russian farmers have sown 6.37 million ha of sunflower or 88.8% of planned area as of May 26 vs. 5.99 million ha a year ago

- Russian farmers have sown 752,800 ha of rapeseed or 85.6% of planned area as of May 26 vs. 746,200 ha a year ago

- Russian farmers have sown 1.73 million ha of soybeans or 76.4% of planned area as of May 26 vs. 1.24 million ha a year ago

- Bulgarian farmers have sown 795,008 ha of sunflower as of May 18 vs. 731,584 ha a year ago

- Strategie Grains lowered its 2017 EU rapeseed crop forecast to 21.35 MMT from 21.39 MMT previously but up 5.1% from the 2016 harvest (20.32 MMT)

- Strategie Grains cut its 2017 EU sunflower crop forecast to 8.54 MMT from 8.61 MMT in April, but still up 3.4% from the 2016 harvest (8.26 MMT)

- Strategie Grains trimmed its 2017 EU soybean crop forecast to 2.56 MMT from 2.58 MMT last month, up 5.3% from the 2016 harvest (2.43 MMT)

- Surveyor Intertek Testing Services estimated Malaysia's May 1-25 palm oil exports at 1,006,757 MT up 16.2% from a month ago

- Surveyor SGS estimated Malaysia's May 1-25 palm oil exports at 1,006,853 MT up 12.9% from a month ago