WHEAT

- July 26 - Bangladesh seeks 50,000 MT of optional origin milling wheat. The deadline for offers is July 26, with validity up to August 9

- July 19 - Taiwan Flour Millers' Association seeks 105,150 MT of US milling wheat

- July 14 - Tunisia's state grains agency bought 42,000 MT of optional-origin soft milling wheat from Casillo: 25 TMT at 204.97 $/mt c&f for Sept 10-20 shipment and 17 TMT at 208.29 $/mt c&f for Sept 20-30 shipment

- July 13 - Japan bought 93,765 MT of food wheat for Aug-Sept shipments:

  • 10,080 MT of western white US wheat;
  • 17,775 MT of hard red winter US wheat;
  • 35,045 MT of dark northern spring US wheat;
  • 30,865 MT of Australian standard white wheat

- July 13 - Jordan has made no purchase in an international tender for 100,000 MT of optional-origin hard milling wheat for Nov-Dec shipment and retender on July 19

- Indonesian importers recently bought 55,000 MT of Black Sea wheat at 217 $/mt c&f for September-October shipment

- Philippines bought 54,000 MT of Black sea/EU wheat for Oct-Nov shipment

- July 14 - Argentina registered 242,556 MT of wheat for export

- July 13 - Argentina registered 18,000 MT of wheat for export

- July 12 - Argentina registered 32,000 MT of wheat for export

- Syria's state grain agency Hoboob is now paying for its wheat imports in Syrian pounds and will no longer open letters of credit for purchased shipments

- USDA lowered US all wheat production forecast to 1.76 billion bushels from 1.824 billion bu in June (2.31 billion in 2016/17), but above the average expectations of 1.748 billion bushels. US spring wheat production will fall to a 15-year low

- USDA upped US wheat ending stock forecast for the 2017/18 crop year to 938 million bushels from 924 million bushels in June, ahead of average market estimate of 876 million, but below the 1.184 billion bushels in 2016/17

- Weekly US wheat export sales data for week ended July 6 totalled 357,700 MT for 2017/18 (within trade expectations of 300-500 TMT). Export commitments for 2017/18 are running in line with a year-ago

- USDA lowered 2017/18 global wheat production forecast by 1.7 MMT to 737.8 MMT as smaller projected crops for the US, Australia, China, Ukraine, and the EU more than offset larger forecasts for Russia and Turkey. Global trade is down slightly this month. Exports are lowered for the EU, Ukraine and the United States, more than offsetting increases for Russia and Turkey

- USDA cut its forecast of 2017/18 world wheat inventories to 260.6 MMT from June estimate of 261.19 MMT, above average expectation of 257.36 MMT and vs. 258.05 MMT in 2016/17

- Ukraine's Ag Min said Ukraine exported 575,000 MT of grain between July 1-12, 2017/18, down 15.9% from 684,000 MT for the same period last season, including:

  • wheat – 150 TMT (vs. 202 TMT a year ago);
  • corn – 350 TMT (280 TMT);
  • barley – 75 TMT (202 TMT)

- Ukrainian farmers harvested 3.1 MMT of wheat from 14% of the planned area as of July 14, down from 5.6 MMT a year ago. Yields totalled 3.4 mt/ha versus 3.74 mt/ha a year ago

- Egypt will stop subsidising flour for its sweeping bread subsidy programme next month in a move expected to cut wheat imports by up to 10% by curtailing smuggling

- Russian farmers harvested 10.66 MMT of wheat from 8.2% of the planned area as of July 14, down from 14.15 MMT a year ago. Yields totalled 4.62 mt/ha up from 4.42 mt/ha a year ago

- Russia's SovEcon raised its forecast for the country's 2017 wheat crop by 2.1 MMT to 72.9 MMT due to an increase in area and yield

- According to TAXUD, the EU this season in period of July 1-11, 2017/18 exported 216,911 MT of soft wheat compared to 863,468 MT a year ago. Top 5 export destinations in 2016/17 were Algeria (17.6%), Saudi Arabia (13.4%), Egypt (6.5%), Vietnam (6.2%) and Morocco (5.9%)

- Strategie Grains cut its forecast for the 2017 soft wheat harvest in the EU to 140.7 MMT from 141.6 MMT in June, now only 3% above last year's low level

- FranceAgriMer said 66% of France’s soft wheat crops were in good to excellent condition as of July 10, unchanged from the prior week and up vs. 49% a year ago; durum rating at 59% in good to excellent vs. 59% a week-ago and vs. 53% a year-ago. French farmers harvested 70% of the durum as of July 10 vs. 32% a week ago and 36% a year ago. They also harvested 29% of soft wheat vs. 6% a week ago and 6% a year ago

- FranceAgriMer raised its estimare for French soft wheat stocks at the end of the 2016/17 to 2.77 MMT from 2.679 MMT projected last month (3.346 MMT in 2015/16). Projected exports outside the EU were kept at 5.0 MMT, down 60.4% from 12.623 MMT in 2015/16, while estimate of shipments within the EU was upped from 5.9 to 6.118 MMT, down 21.6% from 7.803 MMT in 2015/16

- Germany's association of farm cooperatives raised its forecast of country’s 2017 wheat crop to 25.39 MMT from 25.2 MMT in June, a 3.5% increase from last year

- Farmers in Bulgaria harvested 1.086 MMT of wheat as of July 6, down 47.6% from last-year stage. Meanwhile yields on this stage totals 5.08 mt/ha, 6.3% higher than a year-ago

- Bulgaria's Jul-Apr 2016/17 wheat exports are estimated at 3.97 MMT, up 29% from year-ago

- Britain's May wheat exports were at the lowest monthly level since July 2014, only 29,509 MT, against imports of 185,245 MT. Cumulative wheat exports so far in the 2016/17 season (July-June) were 1.4 MMT, down from 2.57 MMT in the same period a year earlier. In contrast, cumulative wheat imports climbed to 1.66 MMT, up from 1.39 MMT a year earlier

- Buenos Aires Grain Exchange lowered its estimate of Argentine 2017/18 wheat crop area by 0.1 mln ha to 5.4 mln ha (5.1 mln ha in 2016/17). Exchange estimates 79.1% of the crop has been planted as of July 13 vs. 79.3% this time last year

- Rosario grain exchange lowered its estimate of Argentine 2017/18 wheat crop area to 5.45 mln hectares from its previous forecast of 5.6 mln ha

- China's 2017/18 wheat imports may drop 38% from last year to 3 MMT, thanks to higher output of good quality wheat

- Algerian 2017 grain production is forecasted at 4.6 MMT up compared to last season's 3.3 MMT (incl. 3 MMT of soft wheat and durum and 1.5 MMT of barley)

CORN

- July 20 - Jordan seeks 100,000 MT of optional-origin feed barley for December shipment

- July 14 - Tunisia's state grains agency bought 50,000 MT of optional-origin feed barley from Cofco: 25 TMT at 182.39 $/mt c&f for Aug 25-Sept 5 shipment and 25 TMT at 187.24 $/mt c&f for Sept 15-25 shipment

- July 14 - China sold 2,600,980 MT of 2014 corn from state reserves, or 87.1% of the offered amount (2,987,561 MMT), at average price of 1,492 RMB/mt (220 $/mt)

- July 13 - China sold a total 628,009 MT of corn from state reserves via auctions:

  • 408,340 MT of 2013 corn, or 40.8% of the offered amount (1,000,811 MT), at average price of 1,274 RMB/mt (188 $/mt);
  • 219,669 MT of 2013 corn, or 22.2% of the offered amount (990,709 MT) at average price of 1,272 RMB/mt (188 $/mt)

- July 13 - Algeria's state grain buyer was seeking 70,000 MT of corn for July-August shipment

- July 12 - 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 July 19

- July 13 - Argentina registered for export 207,809 MT of corn and 15,500 MT of malt

- July 11 - Argentina registered 210,653 MT of corn for export

- USDA raised forecast of US 2017/18 corn crop to 14.255 billion bushels (14.065 in June), slightly above the high end of analysts' forecasts (13.841-14.253 – range). The corn yield outlook was unchanged at 170.7 bpa

- USDA's forecasts of US corn ending stocks for both 2016/17 and 2017/18 came in above the average trade expectations

- Weekly US corn export sales data for week ended July 6 of 440,700 MT (within trade expectations of 350-700 TMT), incl. 161,000 MT for 2016/17 and 279,700 MT for 2017/18. Export commitments for 2016/17 are running 16% ahead of year-ago

- USDA raised its forecast of global corn production in 2017/18 by 5 MMT to 1,036.9 MMT this month with increase for the US. Global trade is mostly unchanged from last month

- USDA upped its forecast of 2017/18 world corn ending stocks by 6.5 MMT to 200.81 MMT, above analyst estimates for 190-198.77, but down from 227.51 MMT expected at the end of 2016/17

- Dr. Michael Cordonnier lowered his US corn yield projection by 2 bushel per acre (bpa) from last week to 165 bpa

- China's Ag Min increased its 2017/18 corn output forecast to 211.91 MMT from 211.65 MMT in June, down 3.5% from last year crop (219.57 MMT in 2016/17). Corn consumption was seen slightly higher than last month at 214.57 MMT versus 214.07 MMT previously and 210.72 MMT in 2016/17

- 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 55.5% completed as of July 13 vs. last year’s pace of 47.5%

- 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 79.5% completed as of July 13 vs. last year’s pace of 70.5%

- Argentina's Rosario grains exchange kept its forecast of the country's 2016/17 corn harvest at 38 MMT

- EU has awarded all of the half-year quota (2nd subperiod) to import 138,995 MT of any origin corn in a first round in a week to July 7. The award meant that the EU had now awarded 100% out of a total volume of 277,988 MT available in 2017

- EU this season in period of Jul 1-11, 2017/18 imported 312,272 MT of corn (maize) vs. 334,787 MT a year ago. Top 5 import origins in 2016/17 were Ukraine (63.9%), Russia (8.6%), Canada (6.9%), Brazil (6.6%) and the US (6%)

- EU this season in period of Jul 1-11, 2017/18 exported 5,385 MT of corn vs. 61,618 MT a year ago. Top 5 export destinations in 2016/17 were Egypt (22.9%), Lebanon (12.5%), Turkey (12%), Libya (6.8%) and Vietnam (6.8%)

- EU this season in period of Jul 1-11, 2017/18 exported 92,988 MT of barley vs. 97,987 MT a year ago. Top 5 export destinations in 2016/17 were Saudi Arabia (47.8%), Tunisia (7.7%), China (6.5%), Jordan (6.1%) and Algeria (5.5%)

- EU this season in period of Jul 1-11, 2017/18 exported 62,834 MT of malt in barley equivalent vs. 98,148 MT a year ago. Top 5 export destinations in 2016/17 were Japan (11%), Vietnam (9.8%), Nigeria (5.8%), Brazil (4.2%) and US (3.5%)

- Strategie Grains lowered its forecast of total EU barley production in 2017 by 0.5 MMT to 57.5 MMT, down 4% from last year

- Strategie Grains cut its forecast for EU grain maize production in 2017 by 1.2 MMT to 58.8 MMT, now below last year's crop of 59.7 MMT

- FranceAgriMer estimated French corn condition as of July 10 as 81% in good to excellent, unchanged from 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 10, unchanged from the prior week and above the year-ago score (44%). Spring barley rating was at 65% in good to excellent vs. 65% last week and vs. 62% a year ago. Harvesting of winter barley was under way, with 95% of the crop cut by July 10 (60% a week ago), well above the 68% harvest progress a year ago. They also started harvesting of spring barley with 11% collected as of July 10 (2% a year ago)

- FranceAgriMer increased its estimate for French corn stocks at the end of the 2016/17 to 2.29 MMT from 2.279 MMT in June, but down vs. 2.485 MMT in 2015/16. France's 2016/17 corn exports are estimated at 4.738 MMT (4.668 MMT – previous forecast) vs. 6.337 MMT a year ago

- FranceAgriMer raised its estimate of France's 2016/17 barley ending stocks to 1.027 MMT from 974,000 MT in June, but down against 1.291 MMT in 2015/16. France's 2016/17 barley exports (without malt) is estimated at 5.237 MMT (5.166 MMT – previous forecast) down 31.8% from 7.684 MMT a year ago

- Germany's association of farm cooperatives raised its forecast of country’s 2017 corn crop to 3.84 MMT from 3.78 MMT in June, a 4.2% fall from last year

- Germany's association of farm cooperatives forecasted the country’s 2017 winter barley crop at 8.93 MMT (8.74 MMT – previous forecast in June), down 0.3% from last year; and spring barley crop at 1.91 MMT (1.9 MMT – previous forecast), up 7.9% from 2016

- Farmers in Bulgaria harvested 490,793 MT of barley as of July 6, down 25.7% from last-year stage. Meanwhile yields on this stage totals 4.84 mt/ha, 8% higher than a year-ago

- Bulgaria's Ag Min said Bulgaria exported 201,836 MT of corn via port Varna between Sept 1-July 9, 2016/17, down 65.6% from a year-ago (586,673 MT)

- Bulgaria's Sep-Apr 2016/17 corn exports are estimated at 848,300 MT, down 22.3% from year-ago. While imports increased to 154,200 MT

- Bulgaria's Jul-Apr 2016/17 barley exports are estimated at 281,300 MT, down 35.5% from year-ago

- Ukrainian farmers harvested 2.96 MMT of barley from 38% of the planned area as of July 14, down from 4.54 MMT a year ago. Yields totalled 3.16 mt/ha down from 3.28 mt/ha a year ago

- Ukrainian farmers harvested 477 TMT of peas from 54% of the planned area as of July 14, up from 415 TMT a year ago. Yields totalled 2.32 mt/ha versus 3.09 mt/ha a year ago

- Russian farmers harvested 2.38 MMT of barley from 7% of the planned area as of July 14, down from 2.54 MMT a year ago. Yields totalled 4.21 mt/ha up from 4 mt/ha a year ago

- US Ethanol production for the week ended July 7 decreased by 7,000 barrels to 1,007,000 barrels per day, up 0.3% from last year's level of 1,004,000 bpd. While stocks fell by 390,000 barrels from the week prior to 21.181 million barrels vs. 21.131 million barrels a year ago

- China has approved two more genetically modified (GMO) crops for import. The two new crops, approved from July 16 for a period of three years, are Syngenta's 5307 insect-resistant corn sold under the Agrisure Duracade brand and Monsanto's 87427 glyphosate-resistant corn, sold under the Roundup Ready brand

SOYBEAN

- July 20 - Egypt’s GASC seeks 30,000 MT of soybean oil and 10,000 MT of sunflower oil for Sept 5-20 delivery

- South Korea's Feed Association purchased a total of 22,700 MT of Indian rapeseed meal at 249.99 $/mt c&f

- July 14 - USDA announced export sales of 1.3 MMT of US soybeans for delivery to China during 2017/18

- Philippines bought 120,000 MT of soybean meal from Argentina (80 TMT) and the US (40 TMT)

- Pakistan recently purchased another 65,000 MT of soybeans sourced optionally from the US or Brazil at a premium of about 46-47 c&f over Chicago soybean futures for February 2018 shipment

- July 13 - Argentina registered 56,605 MT of soymeal for export

- July 12 - Argentina registered 78,000 MT of soymeal for export

- July 11 - Argentina registered for export 214,800 MT of soybeans, 367,910 MT of soymeal and 53,990 MT of soybean oil

- July 14 - Argentina registered 17,800 MT of sunflower meal for export

- July 12 - Argentina registered 9,500 MT of sunflower meal for export

- July 11 - Argentina registered 10,600 MT of sunflower oil for export

- July 13 - A delegation of importers from China signed agreements to buy 12.53 MMT of US new-crop soybeans, the second-largest deal in history. The record for a soybean frame contract was for 13.18 MMT signed in 2015

- China decided to reduce its value added tax on soybeans to 11% from 13% from July 1

- China imported 7.69 MMT of soybeans in June, down 20% from 9.59 MMT in May, but up 1.7% from June 2016. Soy imports for the first-half of 2017 stood at 44.81 MMT, up 14.2% from the same period last year

- China's Ag Min raised its 2017/18 soybean output forecast to 14.73 MMT from 14.1 MMT in June, up 13.8% from last year crop (12.94 MMT in 2016/17)

- USDA surprisingly raised its US 2017/18 soybean harvest outlook to 4.260 billion bushels, the high end of market forecasts and 5 million higher than its June estimate. Soybean yields were unchanged at 48.0 bpa

- USDA's forecasts of US soybean ending stocks for both 2016/17 and 2017/18 came in below the average trade expectations

- Weekly US soybean export sales data for week ended July 6 of 683,000 MT (topped market estimates of 250-600 TMT), incl. 228,000 MT for 2016/17 and 455,000 MT for 2017/18. Export commitments for 2016/17 are running 16% ahead of year-ago

- USDA upped its forecast of 2017/18 global soybean production by 0.4 MMT to 345.1 MMT, down 1.9% (or 6.7 MMT) from last year's record level

- USDA raised its forecast of 2017/18 global soy ending stocks by 1.3 MMT to 93.53 MMT, topping even the highest figure in a range of trade estimates (90.3-93 MMT – range), but below last year's record level of 94.78 MMT

- Dr. Michael Cordonnier lowered his US soybean yield projection by 0.5 bushel per acre (bpa) from last week to 47.5 bpa

- 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 99% completed as of July 13 vs. last year’s pace of 97.7%

- Argentina's Rosario grains exchange kept its forecast of the country's 2016/17 soybean harvest at 57.3 MMT

- EU this season in period of Jul 1-11, 2017/18 imported 272,097 MT of soybeans vs. 501,794 MMT a year ago. Top 5 import origins in 2016/17 were Brazil (37.2%), the US (36.1%), Paraguay (9.2%), Canada (7.5%) and Ukraine (4%)

- EU this season in period of Jul 1-11, 2017/18 imported 539,279 MT of soymeal vs. 662,208 MT a year ago. Top 5 import origins in 2016/17 were Argentina (47%), Brazil (38.1%), Paraguay (7.2%), India (1.8%) and US (1.3%)

- EU this season in period of Jul 1-11, 2017/18 imported 7,907 MT of soybean oil vs. 10,852 MT a year ago. Top 5 import origins in 2016/17 were Norway (24.8%), Serbia (24%), Ukraine (23.8%), Russia (15.4%) and Paraguay (9.1%)

- EU this season in period of Jul 1-11, 2017/18 imported 70,066 MT of rapeseed vs. 9,846 MT a year ago. Top import origins in 2016/17 were Australia (63.2%), Ukraine (19.5%) and Canada (15.5%)

- EU this season in period of Jul 1-11, 2017/18 imported 3,729 MT of rapeseed meal vs. 8,738 MT a year ago. Top 5 import origins in 2016/17 were Russia (51.9%), Ukraine (28.5%), Canada (5.5%), China (4.7%) and Serbia (4.6%)

- EU this season in period of Jul 1-11, 2017/18 imported 1,301 MT of rapeseed oil vs. 2,239 MT a year ago. Top 5 import origins in 2016/17 were Ukraine (43.7%), Russia (29.4%), Belarus (9.1%), Serbia (8%) and Canada (7.3%)

- EU this season in period of Jul 1-11, 2017/18 imported 4,001 MT of sunflowerseed vs. 42,578 MT a year ago. Top 5 import origins in 2016/17 were Moldova (38.6%), Ukraine (15.8%), Argentina (15.3%), Serbia (8.4%) and Russia (7.7%)

- EU this season in period of Jul 1-11, 2017/18 imported 164,321 MT of sunflower meal vs. 124,002 MT a year ago. Top 5 import origins in 2016/17 were Ukraine (67.5%), Argentina (14.9%), Russia (14%), Serbia (1.5%) and China (0.7%)

- EU this season in period of Jul 1-11, 2017/18 imported 53,137 MT of sunflower oil vs. 56,581 MMT a year ago. Top import origins in 2016/17 were Ukraine (92.2%), Moldova (3.7%) and Serbia (2.7%)

- EU this season in period of Jul 1-11, 2017/18 imported 125,108 MT of palm oil vs. 146,965 MT a year ago. Top 5 import origins in 2016/17 were Indonesia (50.3%), Malaysia (22.5%), Papua New Guinea (9.2%), Honduras (5.4%) and Guatemala (5.1%)

- Germany's association of farm cooperatives kept Germany's 2017 winter rapeseed output forecast at 4.78 MMT this month, up 4.6% from 2016

- Farmers in Bulgaria harvested 87,243 MT of rapeseed as of July 6, down 68.7% from last-year stage. Yields on this stage totals 2.76 mt/ha, 3.2% lower than a year-ago

- Bulgaria's Jul-Apr 2016/17 rapeseed exports are estimated at 489,700 MT, up 55.6% from year-ago

- Bulgaria's Ag Min said Bulgaria exported 128,618 MT of sunflower via port Varna between Sept 1-July 9, 2016/17, down 41.4% from a year-ago (219,344 MT)

- Bulgaria's Sep-Apr 2016/17 sunflower exports are estimated at 486,500 MT, in line with year-ago score. While imports increased to 187,000 MT

- Ukrainian farmers harvested 445 TMT of rapeseed from 24% of the planned area as of July 14, down from 474 TMT a year ago. Yields totalled 2.23 mt/ha versus 2.52 mt/ha a year ago

- Russian farmers harvested 122,700 MT of rapeseed from 5.8% of the planned area as of July 14, up from 83,700 MT a year ago. Yields totalled 2.04 mt/ha vs. 1.97 mt/ha a year ago

- Indian farmers increased summer crop planting by about 8% so far, from the same period last year. Pulses planting was up 24% compared with the same time last year, to 7.46 million ha, while soybean planting fell 11.7% to 7.34 million ha because of low rainfall in key planting states over the last two weeks. Summer crop planting will continue until October

- India imported 1.345 MMT of veg oils (edible & non-edible) in June vs. 1.384 MMT in May, up 15% from 1.169 MMT a year ago

- India imported 9.612 MMT of edible veg oils in Nov-June 2016/17 vs. 9.67 MMT in Nov-June 2015/16

- India imported 572,388 MT of crude palm oil in June vs. 492,440 MT in May and vs. 415,580 MT a year ago. India's Nov-June 2016/17 crude palm oil imports at 3.967 MMT vs. 3.767 MMT a year ago

- India imported 240,696 MT of RBD palmolein in June vs. 294,409 MT in May and vs. 190,050 MT a year ago. India's Nov-June 2016/17 RBD palmolein imports at 1.903 MMT vs. 1.777 MT a year ago

- India imported 290,904 MT of soybean oil in June vs. 340,365 MT in May and vs. 386,145 MT a year ago. India's Nov-June 2016/17 soybean oil imports at 1.981 MMT vs. 2.805 MMT a year ago

- India imported 169,345 MT of sunflower oil in June vs. 154,938 MT in May and vs. 147,350 MT a year ago. India's Nov-June 2016/17 sunflower oil imports at 1.509 MMT vs. 1.069 MT a year ago

- India imported 13,446 MT of rapeseed oil in June vs. 29,143 MT in May and vs. 18,278 MT a year ago. India's Nov-June 2016/17 rapeseed oil imports at 194,654 MT vs. 190,202 MT a year ago

- India's stock of edible oils at various ports and in pipelines as of June 1, 2017 increased to 2.278 MMT from 2.16 MMT a month ago, but below last year's 2.32 MMT. India's monthly requirement is about 1.75 MMT

- Surveyor Intertek Testing Services estimated Malaysia's July 1-15 palm oil exports at 599,414 MT up 17.8% from a month ago

- Surveyor SGS estimated Malaysia's July 1-15 palm oil exports at 615,671 MT up 17.6% from a month ago

- Malaysia will lower its crude palm export tax to 5.5% in August, up from 6.5% in July. Malaysia calculated a reference price of 2,699.54 MYR/mt (630 $/mt) for August

- GAPKI estimated Indonesia's May exports of palm oil and palm kernel oil at 2.62 MMT, up 2% from the previous month (2.57 MMT in Apr) and up 49% compared to May 2016