WHEAT

- June 22 - Egypt's GASC bought 175,000 MT of wheat from Romania (120 TMT) and Ukraine (55 TMT) for July 25-August 5 shipment:

  • 60,000 MT of Romanian wheat from Cerealcom at 207.09 $/mt c&f (193.94+13.15 freight);
  • 60,000 MT of Romanian wheat from Cofco at 208.15 $/mt c&f (195.00+13.15 freight);
  • 55,000 MT of Ukrainian wheat from Venus at 209.08 $/mt c&f (190.13+18.95 freight)

- June 22 - Japan bought 135,747 MT of food wheat for July-Sept shipments:

  • 24,561 MT of western white US wheat;
  • 9,690 MT of hard red winter US wheat;
  • 35,710 MT of dark northern spring US wheat;
  • 31,106 MT of Canadian western red spring wheat;
  • 34,680 MT of Australian standard white wheat

- June 23 - Argentina registered for export 30,058 MT of wheat and 3,760 MT of wheat flour

- June 22 - Argentina registered for export 24,870 MT of wheat and 5,645 MT of wheat flour

- Weekly US wheat export sales data for week ended June 15 totalled 542,900 MT for 2017/18 (topped trade expectations of 300-500 TMT). Export commitments for 2017/18 are running 8% ahead of year-ago to start the season

- According to TAXUD, the EU this season in period of Jul 1-June 20, 2016/17 exported 22.966 MMT of soft wheat compared to 30.59 MMT a year ago. Top 5 export destinations in 2016/17 are Algeria (17.4%), Saudi Arabia (13.5%), Egypt (6.4%), Vietnam (6.3%) and Morocco (5.6%)

- FranceAgriMer said 68% of France’s soft wheat crops were in good to excellent condition as of June 19, down 6% point from the prior week and vs. 70% a year ago; durum rating at 60% in good to excellent vs. 62% a week-ago and vs. 59% a year-ago. French farmers started harvesting of durum wheat with 1% collected as of June 19 (1% a year ago)

- Bulgaria's Ag Min said Bulgaria exported 1.595 MMT of wheat via port Varna between July 4-June 18, 2016/17, down 6.4% from a year-ago (1.703 MMT)

- Russia is signing new wheat export contracts with Turkey without any price premiums after the resolution of a trade dispute between the two countries. Russia boosted wheat exports to Turkey to 105,300 MT in May from 58,400 MT in April. Since the start of this 2016/17 marketing year on July 1, Turkey bought 2.4 MMT of Russian wheat

- Russia’s Ag Min said Russia exported about 34.754 MMT of grain between July 1-June 21, 2016/17, up by 3.5% from 33.587 MMT a year ago, including:

  • wheat – 26.6 MMT (24.347 MMT a year ago);
  • barley – 2.911 MMT (4.219 MMT);
  • corn – 4.973 MMT (4.684 MMT);
  • others – 270 TMT (337 TMT)

- Russia has 3,999,900 MT of grain in its federal intervention fund as of June 23 vs. 3,266,300 MT a year-ago

- Kazakh Ag Min said Kazakhstan exported 7.949 MMT of grain between July 1-June 20, 2016/17 vs. 8.176 MMT a year ago, incl. flour – 2.855 MMT in wheat equivalent vs. 2.872 MMT in the same period of 2015/16

- Argentina's Ag Min cut its wheat acreage estimate for the 2017/18 to 5.9 million hectares (14.58 mln acres) from 6 mln ha (14.83 mln acres) in May, down 7.2% from 6.36 mln ha in 2016/17

- 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). Exchange estimates 52.9% of the crop has been planted as of June 22 vs. 45.9% this time last year

- China's May wheat imports up 15% on year to 502,757 MT. China's Jan-May wheat imports rose 67.6% on year to 2.175 MMT

CORN

- June 23 - China sold 1,171,196 MT of 2013 corn from state reserves, or 50.4% of the offered amount (2,325,137 MMT), at average price of 1,347 RMB/mt (197 $/mt)

- June 22 - China sold 120,924 MT of 2013 corn from state reserves, or 9.4% of the offered amount (1,288,220 MMT), at average price of 1,386 RMB/mt (203 $/mt)

- June 22 - Argentina registered for export 118,604 MT of corn and 9,900 MT of feed barley

- June 22 - Argentina registered 209,692 MT of corn for export

- June 21- Japan received no offers for 120,000 MT of feed wheat and 200,000 MT of feed barley in a simultaneous buy and sell (SBS) auction. New SBS tender for the same amounts for each grain will be held on June 28

- Zambia has limited its 10% tax on maize exports in order to encourage production of the nation's main food crop. The 10% export tax will only apply when maize production does not exceed 2 MMT

- Weekly US corn export sales data for week ended June 15 of 652,800 MT, incl. 528,800 MT for 2016/17 (below trade expectations of 550-750 TMT) and 124,000 MT for 2017/18 (within trade estimates of 100-300 TMT). Export commitments for 2016/17 are running 19% ahead of year-ago

- 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 48.6% completed as of June 22 vs. last year’s pace of 37.5%

- Buenos Aires Grain Exchange expects Argentina’s 2017/18 barley acreage will fall to 800,000 ha (850,000 ha in 2016/17). About 30.2% of the crop has been planted as of June 22 vs. 19.2% this time last year

- Argentina's Ag Min raised its corn acreage estimate for the 2016/17 to 7.95 mln ha, incl. 6.2 mln ha under corn for grain. They increased forecast of corn production by 1 MMT to 47.5 MMT, up 19.3% from 39.8 MMT in 2015/16. Corn exports in 2016/17 (Mar 2017-Feb 2018) are expected to rise to 28.5 MMT from 21.45 MMT in previous season

- Argentina's Ag Min expects the country to plant 930,000 hectares of barley for the 2017/18, down 5.1% from 980,000 ha in 2016/17. They raised barley export estimate for 2016/17 (Dec-Nov) to 2.0 MMT from 1.95 MMT in May, still down from 3.1 MMT in previous season

- Argentina's Ag Min lowered estimate of sorghum production to 2.84 MMT from 3 MMT in May, down 5.3% from 2015/16. Sorghum exports in 2016/17 (Mar 2017-Feb 2018) are expected at 350,000 MT (450,000 MT in 2015/16)

- EU this season in period of Jul 1-June 20, 2016/17 imported 12.184 MMT of corn (maize) vs. 13.162 MMT a year ago. Top 5 import origins in 2016/17 are Ukraine (63.1%), Russia (8.9%), Brazil (7.0%), Canada (6.7%) and the US (6.1%)

- EU this season in period of Jul 1-June 20, 2016/17 exported 2.124 MMT of corn vs. 1.952 MMT a year ago. Top 5 export destinations in 2016/17 are Egypt (23.4%), Lebanon (11.6%), Turkey (11.6%), Libya (7 %) and Vietnam (6.9%)

- EU this season in period of Jul 1-June 20, 2016/17 exported 5.066 MMT of barley vs. 10.274 MMT a year ago. Top 5 export destinations in 2016/17 are Saudi Arabia (47.8%), Tunisia (7.8%), China (6.5%), Jordan (5.7%) and Algeria (5.6%)

- EU this season in period of Jul 1-June 20, 2016/17 exported 2.85 MMT of malt in barley equivalent vs. 3.251 MMT a year ago. Top 5 export destinations in 2016/17 are Japan (10.9%), Vietnam (9.8%), Nigeria (5.8%), Brazil (4.4%) and US (3.4%)

- FranceAgriMer estimated France’s corn condition as of June 19 as 84% in good to excellent, down 2% points on the prior week but well above the year-ago score of 69%

- FranceAgriMer said 64% of France’s winter barley crops were in good to excellent condition as of June 19, down 1% point from the prior week and below the year-ago score (67%). Spring barley rating was at 66% in good to excellent vs. 73% last week and vs. 76% a year ago. Harvesting of winter barley was now under way, with 5% of the crop cut by June 19, well above the 0% harvest progress a year ago

- Farmers in Ukraine's southern regions have started the 2017 grain harvest, threshing the first 2,500 MT of winter barley as of June 22

- China imported 42,219 MT of corn last month, down 95.9% from the year-ago level. China's Jan-May corn imports fell 87.6% on year to 352,159 MT

- China imported 56,654 MT of distillers' dried grains (DDGS) in May, up 10% from April but down 71.2% from a year-ago. China's Jan-May DDGS imports fell 76.8% on year to 302,809 MT

- China's May ethanol imports fell almost 100% year on year to only 9 cubic metres. Meanwhile China's ethanol exports soared in May from the same month the year before to 16,304 cubic metres, up 1,428% from a year earlier and 20.4% higher than the month before. In the first five months of the year, ethanol shipments jumped to 59,000 cubic metres, exceeding the total for the whole of 2016

- China's May barley imports rose 22% on year to 625,889 MT. China's Jan-May barley imports rose 142.2% on year to 4.138 MMT

- China imported 297,676 MT of sorghum in May, down 39.8% from a year-ago, mainly from the US. China's Jan-May sorghum imports fell 19.2% on year to 2.79 MT

- US Ethanol production for the week ended June 16 fell by 12,000 barrels to 990,000 barrels per day, up 2.9% from last year's level of 962,000 bpd. Stocks fell by 262,000 barrels from the week prior to 22.28 million barrels, up 5.5% vs. 21.11 million barrels a year ago

SOYBEAN

- June 23 - Argentina registered for export 38,500 MT of soymeal, 26,000 MT of soybeans, 20,400 MT of soybean oil and 8,400 MT of sunflower meal

- June 22 - Argentina registered for export 68,510 MT of soymeal and 9,429 MT of sunflower meal

- Weekly US soybean export sales data for week ended June 15 of 115,000 MT, incl. 111,200 MT for 2016/17 (below market estimates of 200-400 TMT) and 3,800 MT for 2017/18 (below trade estimates of 150-350 TMT). Export commitments for 2016/17 are running 18% ahead of year-ago

- EU this season in period of Jul 1-June 20, 2016/17 imported 13.479 MMT of soybeans vs. 14.11 MMT a year ago. Top 5 import origins in 2016/17 are the US (37.3%), Brazil (35.4%), Paraguay (9.2%), Canada (7.8%) and Ukraine (4%)

- EU this season in period of Jul 1-June 20, 2016/17 imported 17.364 MMT of soymeal vs. 19.737 MMT a year ago. Top 5 import origins in 2016/17 are Argentina (46.9%), Brazil (38.7%), Paraguay (7%), India (1.9%) and US (1.3%)

- EU this season in period of Jul 1-June 20, 2016/17 imported 267,348 MT of soybean oil vs. 306,939 MT a year ago. Top 5 import origins in 2016/17 are Serbia (25%), Ukraine (24.2%), Norway (23.7%), Russia (14.3%) and Paraguay (9.7%)

- EU this season in period of Jul 1-June 20, 2016/17 imported 4.56 MMT of rapeseed vs. 3.259 MMT a year ago. Top import origins in 2016/17 are Australia (62.8%), Ukraine (20.2%) and Canada (15.2%)

- EU this season in period of Jul 1-June 20, 2016/17 imported 174,502 MT of rapeseed meal vs. 396,178 MT a year ago. Top 5 import origins in 2016/17 are Russia (52.1%), Ukraine (28.7%), Canada (5.6%), China (4.8%) and Serbia (4.5%)

- EU this season in period of Jul 1-June 20, 2016/17 imported 149,411 MT of rapeseed oil vs. 199,261 MT a year ago. Top 5 import origins in 2016/17 are Ukraine (43.9%), Russia (29.2%), Belarus (9.2%), Serbia (8%) and Canada (7.4%)

- EU this season in period of Jul 1-June 20, 2016/17 imported 792,991 MT of sunflowerseed vs. 456,692 MT a year ago. Top 5 import origins in 2016/17 are Moldova (38.2%), Ukraine (15.9%), Argentina (15.5%), Serbia (8.6%) and Russia (7.9%)

- EU this season in period of Jul 1-June 20, 2016/17 imported 3.484 MMT of sunflower meal vs. 3.111 MMT a year ago. Top 5 import origins in 2016/17 are Ukraine (67.7%), Argentina (14.8%), Russia (13.7%), Serbia (1.6%) and China (0.7%)

- EU this season in period of Jul 1-June 20, 2016/17 imported 1.474 MMT of sunflower oil vs. 1.303 MMT a year ago. Top import origins in 2016/17 are Ukraine (91.4%), Moldova (4.1%) and Serbia (2.9%)

- EU this season in period of Jul 1-June 20, 2016/17 imported 5.618 MMT of palm oil vs. 6.517 MMT a year ago. Top 5 import origins in 2016/17 are Indonesia (51.5%), Malaysia (22.8%), Papua New Guinea (9.3%), Guatemala (5%) and Honduras (4.9%)

- 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 97.5% completed as of June 22 vs. last year’s pace of 95%

- Argentina's Ag Min cut its soybean acreage estimate for the 2016/17 to 18.75 mln ha. They lowered soybean production estimate by 1 MMT to 57 MMT, down 3.1% from 58.8 MMT in 2015/16. Soybean exports forecast for 2016/17 (Apr 2017-Mar 2018) was lowered to 9 MMT from 9.5 MMT in May, now unchanged from previous season. Soybean crushing is forecasted at 49 MMT (48.5 MMT in 2015/16)

- Argentina's Ag Min raised its sunseed production forecast for the 2016/17 to 3.57 MMT from 3.5 MMT last month, up 19% from 3 MMT in 2015/16. Estimate for sunseed crush in 2016/17 (Jan-Dec 2017) was increased to 3.45 MMT from 3.3 MMT in May and vs. 2.75 MMT previous season

- Stocks of soymeal at Argentine mills climbed to 1.231 MMT at the end of May 2017, up by 46.9% from a year-ago

- Stocks of soybean oil at Argentine mills are estimated at 223,530 MT at the end of May 2017, down by 37.7% from a year-ago

- Stocks of sunoil at Argentine mills are estimated at 125,080 MT at the end of May 2017, up by 25.7% from a year-ago

- Stocks of sunflower meal at Argentine mills are estimated at 96,913 MT at the end of May 2017, up by 32.5% from a year-ago

- Ukrainian May sunflower oil production was reported at 481 TMT, up 0.3% from prior month and up 34.2% from last year. Jan-May 2017 sunoil production totalled 2.409 MMT, up 33% from the same period last year

- Russia produced 2.0 MMT of sunflower oil during the first five months of 2017, up 21.9% from the same period last year

- China imported 9.587 MMT of soybeans during May up 25.1% from year-ago (main suppliers: Brazil (7.939 MMT) and US (1.47 MMT)). China's Jan-May soybean imports rose 19.8% on year to 37.121 MMT

- China's May soybean oil imports rose 350% from year-ago level to 74,549 MT. China's Jan-May soy oil imports rose 52.5% on year to 219,797 MT

- China's May rapeseed imports down 24.1% on year to 396,883 MT. China's Jan-May rapeseed imports rose 21.4% on year to 2.1 MMT

- China's May rapeseed oil imports rose by 42.1% on year to 67,432 MT. China's Jan-May rapeseed oil imports increased 11.3% on year to 427,118 MT

- China's May rapeseed meal imports totalled 76,924 MT, up by 45% on year. China's Jan-May rapeseed meal imports rose 228% on year to 359,614 MT

- China's May sunflower oil imports down 12% on year to 79,881 MT. China's Jan-May sunflower oil imports fell 9.2% on year to 348,825 MT

- China's May palm oil imports up 47.8% on year to 287,692 MT. China's Jan-May palm oil imports totalled 1.96 MMT, up 20.6% on year

- Indonesia will maintain export tax for crude palm oil at zero for July

- Surveyor Intertek Testing Services estimated Malaysia's June 1-25 palm oil exports at 985,534 MT down 2.1% from a month ago