WHEAT

- July 6 - Japan bought 91,660 MT of food wheat for Aug-Sept shipments:

  • 37,937 MT of western white US wheat;
  • 18,965 MT of hard red winter US wheat;
  • 34,758 MT of dark northern spring US wheat

- July 5 - Japan bought 15,750 MT of feed wheat for December 28 arrival via SBS-tender. New SBS tender for 120,000 MT of feed wheat and 200,000 MT of feed barley will be held on July 12

- July 5 - Egypt's GASC bought 410,000 MT of wheat from Russia (350 TMT) and Romania (60 TMT) for August 5-15 shipment:

  • 60,000 MT of Romanian wheat from Glencore at 211 $/mt c&f (198+13 freight);
  • 55,000 MT of Russian wheat from AOS at 212.75 $/mt c&f (197.9+14.85 freight);
  • 60,000 MT of Russian wheat from Daewoo at 214.19 $/mt c&f (199.99+14.2 freight);
  • 60,000 MT of Russian wheat from Aston at 214.8 $/mt c&f (201.5+13.3 freight);
  • 60,000 MT of Russian wheat from GTCS at 215.29 $/mt c&f (201.85+13.44 freight);
  • 60,000 MT of Russian wheat from Louis Dreyfus at 215.39 $/mt c&f (201.95+13.44 freight);
  • 55,000 MT of Russian wheat from Glencore at 215.45 $/mt c&f (201.7+13.75 freight)

- Egypt has enough strategic wheat reserves to cover 5 months' needs

- July 4 - Algeria's OAIC bought around 420,000 MT of optional origin milling wheat, likely from France and Argentina, at around 213.75-216 $/mt c&f for September shipment

- July 4 - China sold 21,223 MT of wheat from state reserves or 0.7% of the offered amount (3,006,652 MT) at auction at average price of 2,432 RMB/mt (358 $/mt)

- Argentina in June registered for export 821,050 MT of wheat and 68,185 MT of wheat flour

- FAO Cereal Price Index averaged 154.3 points in June, 6.2 points (4.2%) above its May level and representing a one-year high. Wheat quotations increased the most, largely reflecting a surge in high-protein wheat values due to deteriorating crop conditions in the US

- FAO cut its forecast of global wheat production in 2017 to 739.9 MMT from 743.2 MMT projected in June, indicating a 2.7% (20.2 MMT) decline from the 2016 record level. The downward revision is almost entirely on account of smaller crops in the EU and Ukraine, where dry conditions are anticipated to reduce yields. Global wheat stocks (ending in 2018) are expected to rise to an all-time high of 255.8 MMT, up 3.5% (8.7 MMT) from their already high opening levels. The forecast has been lowered by nearly 1.6 MMT since June

- USDA estimated 48% of the US winter wheat crop good to excellent as of July 2, down 1% point from prior week and versus 62% a year-ago. The wheat harvest was 53% complete by July 2, below an average of analysts' expectations for 55% and down from last year’s pace of 56% and 5-year mean of 54%

- USDA rated 37% of the US spring wheat crop in good-to-excellent condition as of July 2, down from 40% a week earlier and below analysts' expectations for 38% and vs. 72% a year-ago

- Informa Economics estimated US all-wheat production at 1.783 billion bushels (48.52 MMT). The total consists of 1.281 billion bushels (34.86 MMT) of winter wheat, 434 mln bu (11.81 MMT) of spring wheat other than durum, and 67 mln bu (1.82 MMT) of durum wheat

- Informa Economics lowered its forecast of EU wheat production for the 2017/18 marketing year to 148 MMT from 150 MMT in June, citing below-normal rains

- According to TAXUD, the EU in season 2016/17 (Jul 1-June 30) exported 23.355 MMT of soft wheat compared to 31.512 MMT a year ago. Top 5 export destinations in 2016/17 are Algeria (17.7%), Saudi Arabia (13.5%), Egypt (6.3%), Vietnam (6.2%) and Morocco (5.8%)

- FranceAgriMer said 66% of France’s soft wheat crops were in good to excellent condition as of July 3, up 1% point from the prior week and vs. 59% a year ago; durum rating at 59% in good to excellent vs. 60% a week-ago and vs. 55% a year-ago. French farmers harvested 32% of the durum as of July 3 vs. 24% a week ago and 13% a year ago. They also harvested 6% of soft wheat vs. 4% a week ago and 1% a year ago

- Czech Statistics Bureau forecasts country’s 2017 wheat production at 4.825 MMT, down from 5.455 MMT in 2016

- Farmers in Bulgaria harvested 195,200 MT of wheat as of June 29, down 67.1% from last-year stage. Bulgaria forecasts 2017 wheat crop down to 5.2 MMT, compared with a bumper crop of 5.66 MMT last year. Bulgaria is a net grain exporter and has shipped more than 4 million tonnes of wheat abroad in the past year

- Ukraine exported 734 TMT of wheat in June 2017. Ukraine's 2016/17 (July-June) wheat exports rose 3.5% on year to 17.532 MMT

- Ukrainian farmers harvested 315 TMT of wheat (2%) as of July 4, down from 370 TMT a year ago. Yields totalled 3.02 mt/ha versus 3.74 mt/ha a year ago

- Russian Ag Min estimated 2016/17 grain exports at 35.5 MMT (up 5% from year-ago), including 27.1 MMT of wheat (up 10%). They forecast Russia’s 2017/18 grain exports in a range of 30-37 MMT

- Russian farmers harvested 3.27 MMT of all grains as of July 6, down from 8.4 MMT a year ago. Yields totalled 4.39 mt/ha up from 4.32 mt/ha a year ago

- CNGOIC raised its forecast of 2017/18 Chinese wheat production to 129.9 MMT from 129.2 MMT last month, up 0.8% on year

- 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 72.7% of the crop has been planted as of July 6 vs. 72.2% this time last year

CORN

- July 6 - China sold only 48,939 MT of 2013 corn from state reserves, or 4.7% of the offered amount (1,033,241 MMT), at average price of 1,251 RMB/mt (184 $/mt)

- July 4 - Jordan bought 100,000 MT of optional-origin feed barley at 194.5 $/mt c&f from Midgulf (50 TMT) and GTCS (50 TMT) for Oct-Nov shipment

- July 6 - Argentina registered 28,000 MT of malting barley for export

- Argentina in June registered 2.837 MMT of corn for export

- Argentina in June registered for export 9,900 MT of feed barley, 40,700 MT of malting barley and 22,812 MT of malt

- Argentina in June registered 56,224 MT of sorghum for export

- USDA rated 68% of the US corn crop as good-to-excellent as of July 2, up 1% point from the previous week and above the average of analyst expectations (66%), but down compared to 75% a year-ago

- Informa Economics raised its US 2017 corn production forecast to 14.166 billion bushels (359.84 MMT) from 14.077 billion after incorporating revised USDA’s acreage estimates. Informa also lowered its corn yield estimate to 169.7 bushels per acre from its mid-June figure of 170.0 bpa

- Informa Economics raised its estimate of Brazil's 2016/17 corn harvest to 97 MMT from 96 MMT last month

- Egypt has rejected a 60,000 MT shipment of Ukrainian corn on concerns over the common grain fungus ergot. Egyptians said that Ukrainian corn contained ergot over the 0.05% limit and will be re-exported to Spain

- Egypt expects to cut imports of yellow corn to 7 MMT during the 2017/18 fiscal year beginning in July from 8.5 MMT the year before due to higher local production. Egypt's government would offer farmers about twice as much per tonne for their corn this fiscal year - 3,400 Egyptian pounds ($190.5) compared with about 1,700 EGP last year

- EU in week ended June 30 awarded licenses to import 11,584 MT of Ukrainian barley under an annual duty-free quota. The award meant that the EU had now awarded 100% out of a total volume of 270,000 MT available in 2017

- EU in season 2016/17 (Jul 1-June 30) imported 12.923 MMT of corn (maize) vs. 13.334 MMT a year ago. Top 5 import origins in 2016/17 are Ukraine (63.9%), Russia (8.6%), Canada (6.9%), Brazil (6.6%) and the US (6%)

- EU in season 2016/17 (Jul 1-June 30) exported 2.149 MMT of corn vs. 1.993 MMT a year ago. Top 5 export destinations in 2016/17 are Egypt (23.2%), Turkey (12.1%), Lebanon (11.5%), Libya (6.9%) and Vietnam (6.8%)

- EU in season 2016/17 (Jul 1-June 30) exported 5.161 MMT of barley vs. 10.769 MMT a year ago. Top 5 export destinations in 2016/17 are Saudi Arabia (47.8%), Tunisia (7.7%), China (6.5%), Jordan (6.1%) and Algeria (5.5%)

- EU in season 2016/17 (Jul 1-June 30) exported 2.945 MMT of malt in barley equivalent vs. 3.339 MMT a year ago. Top 5 export destinations in 2016/17 are Japan (10.9%), Vietnam (9.8%), Nigeria (5.8%), Brazil (4.2%) and US (3.4%)

- FranceAgriMer estimated France’s corn condition as of July 3 as 81% in good to excellent, down 1% point on the prior week but well above the year-ago score of 69%

- FranceAgriMer said 62% of France’s winter barley crops were in good to excellent condition as of July 3, up 1% point from the prior week and above the year-ago score (53%). Spring barley rating was at 65% in good to excellent vs. 65% last week and vs. 67% a year ago. Harvesting of winter barley was under way, with 60% of the crop cut by July 3 (48% a week ago), well above the 13% harvest progress a year ago

- Czech Statistics Bureau forecasts country’s 2017 barley harvest at 1.678 MMT, down from 1.845 MMT last year

- Bulgaria's Ag Min said Bulgaria exported 201,836 MT of corn via port Varna between Sept 1- July 2, 2016/17, down 65.1% from a year-ago (577,673 MT)

- Farmers in Bulgaria harvested 283,500 MT of barley as of June 29, down 48.9% from last-year stage

- Brazil’s Trade Ministry reported June corn exports at 563,207 MT, up from 309,986 MT in May and well above than 19,267 MT in the year-ago month

- Brazil’s Trade Ministry reported June ethanol exports at 160.1 million litres, up from 83.6 mln litres in May but down from 258.1 mln litres last June

- Ukraine exported 1.95 MMT of corn in June 2017. Ukraine's Sept-June 2016/17 corn exports rose 25% on year to 20.14 MMT

- Ukraine exported 101 TMT of barley in June 2017. Ukraine's 2016/17 (July-June) barley exports rose 21.4% on year to 5.355 MMT

- Ukrainian farmers harvested 957 TMT of barley (12%) as of July 4, down from 1.609 MMT a year ago. Yields totalled 3.3 mt/ha up from 3.52 mt/ha a year ago

- Ukrainian farmers harvested 100 TMT of peas (11%) as of July 4, up from 61 TMT a year ago. Yields totalled 2.37 mt/ha versus 2.9 mt/ha a 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 53% completed as of July 6 vs. last year’s pace of 44.6%

- Buenos Aires Grain Exchange expects Argentina’s 2017/18 barley acreage will fall to 800,000 ha (850,000 ha in 2016/17). About 45.6% of the crop has been planted as of July 6 vs. 38.1% this time last year

- US Ethanol production for the week ended June 30 decreased by 1,000 barrels to 1,014,000 barrels per day, up 3% from last year's level of 984,000 bpd. While stocks fell by 267,000 barrels from the week prior to 21.571 million barrels vs. 21.557 million barrels a year ago

- US corn consumed for alcohol and other uses was 508 million bushels in May 2017, up 3% from April 2017 and up 6% from May 2016

- US dry mill co-product production of distillers dried grains with solubles (DDGs) was 1.91 million tons during May 2017, up 9% from April 2017 and up 3% from May 2016

- US wet mill corn gluten feed production was 341 thousand tons during May 2017, down 2% from April 2017 but up 2% from May 2016

SOYBEAN

- July 6 - Argentina registered for export 20,000 MT of soybeans, 55,000 MT of soymeal and 7,000 MT of soybean oil

- Argentina in June registered for export 967,858 MT of soybeans, 3.22 MMT of soymeal and 441,451 MT of soybean oil

- Argentina in June registered for export 87,957 MT of sunflower oil and 46,169 MT of sunflower meal

- 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 98.9% completed as of July 6 vs. last year’s pace of 97.1%

- USDA rated 64% of the US soybean crop as good-to-excellent as of July 2, down 2% points from prior week and behind an average of analyst expectations of 65% and down compared to 70% a year-ago

- Informa Economics put US 2017 soybeans production at 4.253 billion bushels (115.75 MMT), near its mid-June forecast of 4.255 billion. It trimmed its soy yield estimate to 47.9 bpa from 48.0 bpa and took the USDA's figure of 88.731 million harvested acres

- USDA estimated US May soybean crush for crude oil at 4.718 million short tons (157.3 million bushels), a 5.0% increase from April, but below the average market expectation (4.76 mln tons, or 158.5 mln bu) and down from 4.826 mln tons a year ago. Crude soyoil stocks rose to 1.843 billion lbs as of May 31 from 1.844 in April, below the 2.063 bln lbs a year ago, while refined oil stocks were at 379.236 million lbs as of May 31 vs. 389.873 in Apr and 402.898 in May 2016. April US soy cake and meal stocks fell to 348,601 tons from 367,686 in April and vs. 343,411 tons a year-ago

- Brazil’s Trade Ministry reported June soybean exports at 9.197 MMT, down from 10.96 MT in May but above than 7.761 MMT a year ago. Also Brazil exported 1.391 MMT of soymeal in June versus 1.63 MMT the month before and 1.566 MMT a year ago; and 164,945 MT of soyoil compared to 112,602 MT in May and 159,676 MT a year ago

- EU in season 2016/17 (Jul 1-June 30) imported 13.889 MMT of soybeans vs. 14.465 MMT a year ago. Top 5 import origins in 2016/17 are Brazil (36.9%), the US (36.2%), Paraguay (9.1%), Canada (7.6%) and Ukraine (4%)

- EU in season 2016/17 (Jul 1-June 30) imported 18.063 MMT of soymeal vs. 20.278 MMT a year ago. Top 5 import origins in 2016/17 are Argentina (47%), Brazil (38.1%), Paraguay (7.2%), India (1.8%) and US (1.3%)

- EU in season 2016/17 (Jul 1-June 30) imported 285,513 MT of soybean oil vs. 319,230 MT a year ago. Top 5 import origins in 2016/17 are Norway (24.8%), Serbia (23.9%), Ukraine (23.8%), Russia (15.4%) and Paraguay (9.1%)

- EU in season 2016/17 (Jul 1-June 30) imported 4.666 MMT of rapeseed vs. 3.417 MMT a year ago. Top import origins in 2016/17 are Australia (63.4%), Ukraine (20%) and Canada (14.8%)

- EU in season 2016/17 (Jul 1-June 30) imported 176,249 MT of rapeseed meal vs. 397,047 MT a year ago. Top 5 import origins in 2016/17 are Russia (51.9%), Ukraine (28.5%), Canada (5.5%), China (4.7%) and Serbia (4.6%)

- EU in season 2016/17 (Jul 1-June 30) imported 150,379 MT of rapeseed oil vs. 200,874 MT a year ago. Top 5 import origins in 2016/17 are Ukraine (43.7%), Russia (29.4%), Belarus (9.1%), Serbia (8%) and Canada (7.3%)

- EU in season 2016/17 (Jul 1-June 30) imported 805,641 MT of sunflowerseed vs. 461,073 MT a year ago. Top 5 import origins in 2016/17 are Moldova (38.6%), Ukraine (15.8%), Argentina (15.3%), Serbia (8.4%) and Russia (7.7%)

- EU in season 2016/17 (Jul 1-June 30) imported 3.627 MMT of sunflower meal vs. 3.224 MMT a year ago. Top 5 import origins in 2016/17 are Ukraine (67.4%), Argentina (14.9%), Russia (14%), Serbia (1.5%) and China (0.7%)

- EU in season 2016/17 (Jul 1-June 30) imported 1.593 MMT of sunflower oil vs. 1.391 MMT a year ago. Top import origins in 2016/17 are Ukraine (92%), Moldova (3.8%) and Serbia (2.7%)

- EU in season 2016/17 (Jul 1-June 30) imported 5.91 MMT of palm oil vs. 6.672 MMT a year ago. Top 5 import origins in 2016/17 are Indonesia (51.4%), Malaysia (22.8%), Papua New Guinea (9.2%), Honduras (5%) and Guatemala (4.9%)

- Ukraine exported 100 TMT of soybeans in June 2017. Ukraine's Sept-June 2016/17 soybean exports rose 29% on year to 2.81 MMT

- Ukraine exported 9.5 TMT of rapeseed in June 2017. Ukraine's 2016/17 (July-June) rapeseed exports fell 28% on year to 1.035 MMT

- Ukraine exported 509 TMT of sunflower oil in June 2017. Ukraine's Sept-June 2016/17 sunoil exports rose 28% on year to 4.95 MMT

- Ukrainian farmers harvested 30 TMT of rapeseed (2%) as of July 4, down from 66 TMT a year ago. Yields totalled 2.04 mt/ha versus 2.24 mt/ha a year ago

- Czech Statistics Bureau expects country’s 2017 rapeseed harvest at 1.254 MMT, down from 1.359 MMT last year

- Farmers in Bulgaria harvested 23,300 MT of rapeseed as of June 29, down 79.9% from last-year stage

- France will take measures to restrict the use of palm oil in the production of biofuels with the aim of reducing indirect deforestation

- Egypt has sufficient vegetable oils reserves to cover 3 months' needs