WHEAT

- June 9 - Saudi Arabia’s SAGO seeks 770,000 MT of hard wheat, 12.5% protein, in 13 consignments for Aug-Oct shipment

- June 8 - Japan bought 159,610 MT of food wheat for July-Sept shipments:

  • 24,100 MT of western white US wheat;
  • 22,560 MT of hard red winter US wheat;
  • 34,455 MT of dark northern spring US wheat;
  • 55,075 MT of Canadian western red spring wheat;
  • 23,420 MT of Australian standard white wheat

- June 7 - Algeria's OAIC bought around 450-480 TMT of optional-origin soft milling wheat at around 197.25-199.5 $/mt c&f for August shipment

- June 8 - Argentina registered for export 47,440 MT of wheat and 5,227 MT of wheat flour

- June 7 - Argentina registered 70,925 MT of wheat for export

- Weekly US wheat export sales data for week ended June 1 totalled 461,000 MT for 2017/18 (within trade expectations of 50-550 TMT). Export commitments for 2017/18 are running 14% ahead of year-ago to start the season

- According to TAXUD, the EU this season in period of Jul 1-June 6, 2016/17 exported 22.422 MMT of soft wheat compared to 29.408 MMT a year ago. Top 5 export destinations in 2016/17 are Algeria (17.4%), Saudi Arabia (13.6%), Egypt (6.5%), Vietnam (6.5%) and Morocco (5.7%)

- FranceAgriMer said 75% of France’s soft wheat crops were in good to excellent condition as of June 5, unchanged from the prior week and vs. 79% a year ago; durum rating at 64% in good to excellent vs. 65% a week-ago and vs. 68% a year-ago

- Bulgaria's Ag Min said Bulgaria exported 1.572 MMT of wheat via port Varna between July 4-June 4, 2016/17, down 7.1% from a year-ago (1.692 MMT)

- Ukraine's Ag Min said Ukraine exported 41.67 MMT of grain between July 1-June 7, 2016/17, including:

  • wheat – 16.98 MMT;
  • corn – 19.17 MMT;
  • barley – 5.26 MMT

- Buenos Aires Grain Exchange maintained the country's upcoming 2017/18 wheat crop planting at 5.5 mln ha (5.1 mln ha in 2016/17), but noted that many fields in the southern portion of Argentina's grains belt remained flooded. Exchange estimates 21.4% of the crop has been planted as of June 8 vs. 8.8% this time last year. The exchange's preliminary estimate for the upcoming wheat harvest is 17.5 MMT

- Conab trimmed its Brazil's 2017 wheat crop estimate to 5.206 MMT from 5.219 MMT in May, down vs. 6.727 MMT in 2016. They expect wheat imports this year at 7 MMT, up from 6.92 MMT in 2016

- FAO raised its forecast of global wheat production in 2017 to 743.2 MMT from 740.4 MMT projected in May, indicating a 2.2% (16.9 MMT) decline from the 2016 record level. The lower year-on-year production estimate reflects smaller crops in Australia, the US, Canada, Kazakhstan and Russia, which more than outweigh the expansions in the EU, India and Morocco. Global wheat stocks (ending in 2018) are expected to rise to an all-time high of 257.4 MMT, up 4% (10 MMT) from their already high opening levels. The forecast has been raised by nearly 10 MMT since May

CORN

- June 8 - Jordan has made no purchase in an international tender for 100,000 MT of feed barley for Oct-Nov shipment and may retender on June 15

- June 9 - China sold a total 1,015,992 MT of corn from state reserves via auctions:

  • 996,321 MT of 2013 corn, or 60.5% of the offered amount (1,648,059 MT), at average price of 1,340 RMB/mt (197 $/mt);
  • 19,671 MT of 2012, 2013 corn, or 60% of the offered amount (32,794 MT) at average price of 1,121 RMB/mt (165 $/mt)

- June 8 - China sold 474,845 MT of 2013 corn from state reserves, or 25.5% of the offered amount (1,859,813 MMT), at average price of 1,332 RMB/mt (196 $/mt)

- China's Ag Min cut its 2017/18 corn output forecast to 211.65 MMT from 213.18 MMT in May, down 3.6% from last year crop (219.57 MMT in 2016/17). Corn imports are expected to be steady at 1 MMT

- Weekly US corn export sales data for week ended June 1 totalled 476,600 MT (below trade expectations of 600-950 TMT), incl. 348,600 MT for 2016/17 and 128,000 MT for 2017/18. Export commitments for 2016/17 are running 21% ahead of year-ago

- June 8 - Argentina registered 100,540 MT of corn for export

- June 7 - Argentina registered 117,000 MT of corn for export

- 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 42% completed as of June 8 vs. last year’s pace of 31.6%

- EU in week ended June 2 awarded licenses to import 44,738 MT of Ukrainian barley under an annual duty-free quota. The award meant that the EU had now awarded 91.5% (247,041 MT) out of a total volume of 270,000 MT available in 2017

- EU this season in period of Jul 1-June 6, 2016/17 imported 11.337 MMT of corn (maize) vs. 12.942 MMT a year ago. Top 5 import origins in 2016/17 are Ukraine (62.1%), Russia (9%), Brazil (7.5%), Canada (6.6%) and the US (6.5%)

- EU this season in period of Jul 1-June 6, 2016/17 exported 2.067 MMT of corn vs. 1.76 MMT a year ago. Top 5 export destinations in 2016/17 are Egypt (24%), Lebanon (12%), Turkey (9.6%), Libya (7.2%) and Vietnam (7.1%)

- EU this season in period of Jul 1-June 6, 2016/17 exported 4.967 MMT of barley vs. 9.965 MMT a year ago. Top 5 export destinations in 2016/17 are Saudi Arabia (47.5%), Tunisia (7.5%), China (6.6%), Jordan (5.8%) and Algeria (5.7%)

- EU this season in period of Jul 1-June 6, 2016/17 exported 2.693 MMT of malt in barley equivalent vs. 3.096 MMT a year ago. Top 5 export destinations in 2016/17 are Japan (11.1%), Vietnam (9.9%), Nigeria (6%), Brazil (3.7%) and US (3.4%)

- FranceAgriMer estimated France’s corn condition as of June 5 as 87% in good to excellent, up 1% point on the prior week and above the year-ago score of 75%

- FranceAgriMer said 66% of France’s winter barley crops were in good to excellent condition as of June 5, unchanged from the prior week but below the year-ago score (76%). Spring barley rating was at 74% in good to excellent vs. 76% last week and vs. 91% a year ago

- Bulgarian farmers have sown 411,519 ha of corn as of June 1 vs. 415,873 ha a year ago

- Bulgaria's Ag Min said Bulgaria exported 191,336 MT of corn via port Varna between Sept 1-June 4, 2016/17, down 66.1% from a year-ago (565,073 MT)

- Conab raised its forecast for Brazil's 2016/17 corn crop to 93.836 from 92.833 MMT in May, sharply higher than 66.531 MMT last season with second crop at 63.522 MMT (40.773 MMT in 2015/16). Conab kept its forecast of Brazilian corn exports in 2016/17 at 26 MMT (18.883 MMT in 2015/16). Ending stocks are forecasted to climb to 20.235 MMT from 7.999 MT in 2015/16

- FAO maintains its forecast for 2017/18 global maize output at 1,054 MMT, still 1.4%, or 14.6 MMT, higher than last year’s output. The year-on-year increase is mainly reflective of expected bumper outputs in South America and southern Africa. Global maize closing inventories are now projected to stand at 220 MMT, down 8.4 MMT, or 3.6%, from their opening levels

- FAO forecasts global barley production in 2017 at around 142.3 MMT, 4.2%, or 6.3 MMT, down from the high level of 2016. Most of the decrease rests on reduced production prospects in Australia, Ukraine, Canada and the US, that more than offset an anticipated strong rebound in Morocco. World barley stocks are likely to remain stable, at nearly 31 MMT

- FAO forecasts world sorghum production in 2017 at 59 MMT, indicating a 7.1%, or 4.5 MMT, year-on-year decrease. Prospects this year are mainly weighed down by an expected 31%, or 3.8 MMT, decrease in the US output. World sorghum stocks are likely to remain stable, at nearly 9 MMT

- US Ethanol production for the week ended June 2 fell by 21,000 barrels to 999,000 barrels per day, down 0.7% from last year's level of 1,006,000 bpd. Stocks fell by 781,000 barrels from the week prior to 21.982 million barrels, up 8.7% vs. 20.225 million barrels a year ago

- Brazilian Ag Min said it is making 190.25 billion reais ($58 billion) available for a subsidized rural loan program in the 2017/18 agricultural cycle. In the previous 2016/17 cycle, the total available through the program was 185 billion reais

SOYBEAN

- June 7 - South Korea's NOFI has purchased about 18,000 MT of palm kernel meal (12,000 MT at 106.2 $/mt c&f and 6,000 MT at 105.2 $/mt c&f) and 12,000 MT of copra meal

- Pakistan recently bought about 500,000 MT of Brazil and US soybeans for Jan-Apr 2018 shipment

- June 8 - Argentina registered for export 30,000 MT of soybeans and 120,672 MT of soymeal

- June 7 - Argentina registered for export 277,300 MT of soybeans, 226,180 MT of soymeal and 52,500 MT of soybean oil

- 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 90,6% completed as of June 8 vs. last year’s pace of 86.7%

- Weekly US soybean export sales data for week ended June 1 totalled 380,900 MT (at the low end of trade estimates of 350-750 TMT), incl. 159,100 MT for 2016/17 and 221,800 MT for 2017/18. Export commitments for 2016/17 are running 21% ahead of year-ago

- China imported a record 9.59 MMT of soybeans in May, up from 8.02 MMT in April and up 25.2% from May 2016

- China's imports of all vegetable oils in May was 420,000 MT, down 25% from 560,000 MT in April. China's Jan-May vegetable oil imports rose 12.2% on year to 2.39 MMT

- USDA attaché forecasted Turkey’s 2017/18 soybean imports at 2.45 MMT, slightly up from 2.42 MMT in 2016/17. Turkey imported 1.06 MMT soy during the first seven months of 2016/17. Ukraine and the United States were the leading suppliers with 515,000 MT and 263,000 MT respectively. Turkey also imported a total of 457,000 MT of soybean meal during the first half of the marketing year of which the great majority, 433,000 MT, was supplied by Argentina

- Conab forecasts Brazil's 2016/17 soy output at a record 113.923 MMT, up from previous forecast of 113.013 MMT and above than 95.435 MMT last year. Conab kept its forecast of Brazilian soybean exports in 2016/17 at 63 MMT (51.588 MMT in 2015/16). Ending stocks are forecasted to rise to 5.418 MMT from 1.476 MMT in 2015/16

- EU this season in period of Jul 1-June 6, 2016/17 imported 12.949 MMT of soybeans vs. 13.609 MMT a year ago. Top 5 import origins in 2016/17 are the US (38.8%), Brazil (33.7%), Paraguay (9.1%), Canada (8.1%) and Ukraine (4%)

- EU this season in period of Jul 1-June 6, 2016/17 imported 16.596 MMT of soymeal vs. 18.786 MMT a year ago. Top 5 import origins in 2016/17 are Argentina (46.6%), Brazil (39.2%), Paraguay (6.9%), India (1.8%) and US (1.4%)

- EU this season in period of Jul 1-June 6, 2016/17 imported 255,015 MT of soybean oil vs. 299,085 MT a year ago. Top 5 import origins in 2016/17 are Serbia (25.3%), Ukraine (24.1%), Norway (24%), Russia (13.3%) and Paraguay (10.2%)

- EU this season in period of Jul 1-June 6, 2016/17 imported 4.373 MMT of rapeseed vs. 3.255 MMT a year ago. Top import origins in 2016/17 are Australia (62.4%), Ukraine (21%) and Canada (14.7%)

- EU this season in period of Jul 1-June 6, 2016/17 imported 168,457 MT of rapeseed meal vs. 393,924 MT a year ago. Top 5 import origins in 2016/17 are Russia (50.7%), Ukraine (29.7%), Canada (5.8%), China (4.8%) and Serbia (4.6%)

- EU this season in period of Jul 1-June 6, 2016/17 imported 146,820 MT of rapeseed oil vs. 196,216 MT a year ago. Top 5 import origins in 2016/17 are Ukraine (44.5%), Russia (28.2%), Belarus (9.3%), Serbia (8.1%) and Canada (7.5%)

- EU this season in period of Jul 1-June 6, 2016/17 imported 779,944 MT of sunflowerseed vs. 439,593 MT a year ago. Top 5 import origins in 2016/17 are Moldova (38.1%), Argentina (15.7%), Ukraine (15.7%), Serbia (8.7%) and Russia (7.8%)

- EU this season in period of Jul 1-June 6, 2016/17 imported 3.255 MMT of sunflower meal vs. 2.942 MMT a year ago. Top 5 import origins in 2016/17 are Ukraine (68%), Argentina (14.9%), Russia (13.2%), Serbia (1.6%) and China (0.7%)

- EU this season in period of Jul 1-June 6, 2016/17 imported 1.368 MMT of sunflower oil vs. 1.244 MMT a year ago. Top import origins in 2016/17 are Ukraine (91.2%), Moldova (4.3%) and Serbia (3%)

- EU this season in period of Jul 1-June 6, 2016/17 imported 5.389 MMT of palm oil vs. 6.309 MMT a year ago. Top 5 import origins in 2016/17 are Indonesia (51.2%), Malaysia (22.8%), Papua New Guinea (9.3%), Guatemala (5.2%) and Honduras (5.2%)

- Bulgarian farmers have sown 812,099 ha of sunflower as of June 1 vs. 744,426 ha a year ago

- Bulgaria's Ag Min said Bulgaria exported 216,457 MT of rapeseed via port Varna between July 4-June 4, 2016/17, up 194.3% from a year-ago (73,551 MT)