WHEAT

- Aug 3 - Japan seeks 132,925 MT of food wheat for Sept-Oct shipments:

  • 11,840 MT of western white US wheat;
  • 13,300 MT of hard red winter US wheat;
  • 24,940 MT of dark northern spring US wheat;
  • 49,665 MT of Canadian western red spring wheat;
  • 33,180 MT of Australian standard white wheat

- July 31 - The lowest offer in Iraq’s tender for 50,000 MT of hard wheat came in at 299 $/mt cif for US wheat from ADM. The tender closed on July 31 and offers must remain valid up to August 6

- Aug 1 - China sold 8,859 MT of wheat from state reserves or 0.3% of the offered amount (3,042,372 MT) at auction at average price of 2,438 RMB/mt (363 $/mt)

- Aug 1 - China auctioned 4,074 MT of imported wheat from state reserves, or 2.9% of the offered amount (138,265 MT) at average price of 2,523 RMB/mt (376 $/mt)

- US wheat export inspections for week, ending July 27, recorded 578,649 MT, topped market expectations. Inspections for 2017/18 are running 15% ahead of year-ago

- USDA estimated 88% of the US winter wheat harvest was complete by July 30, matching last year’s pace and above the 5-year mean of 86%, but behind analysts' expectations for 91%

- USDA rated 31% of the US spring wheat crop in good-to-excellent condition as of July 30, down from 33% a week earlier and vs. 68% a year-ago, also behind market forecasts for 33%. The wheat harvest was 9% complete by July 30, ahead of market expectations (7%), in line with last year pace and 5-year mean

- Egypt is targeting 7 MMT of imported wheat for government purchase for 2017/18, up from a previous target of 6.2 MMT. Egypt's strategic wheat reserves are at 5.091 MMT after a recent tender, equal to cover consumption for 6.4 months or to the second week of February

- European Commission (EC) trimmed its estimate for 2017 EU soft wheat crop to 138.571 MMT from 138.861 MMT last month, but up from 134.024 MMT last year. EU's executive lowered its EU soft wheat exports forecast by 0.5 MMT to 26 MMT in 2017/18, still above the 24.609 MMT in 2016/17. Soft wheat inventories in the region are forecasted to fall to 10.73 MMT (10.848 MMT – previous estimate) by the end of June 2018, slightly less than 10.838 MMT estimated for 2016/17

- Russian farmers harvested 34.22 MMT of wheat from 27.8% of the planned area as of July 31, down from 36.86 MMT a year ago. Yields totalled 4.41 mt/ha up from 4.02 mt/ha a year ago

- IKAR raised its Russia’s 2017 wheat crop production outlook to range of 74-77 MMT from the previous 71-75 MMT, and raised 2017/18 wheat export forecast to 29.5-31.5 MMT from the 29-31 MMT previously

- Rosselkhoznadzor estimated Russian grain exports between Jul 1-24, 2017/18 at 1.468 MMT (incl. 688,400 MT of wheat) compared to 1.489 MMT (1.104 MMT) a year ago

- Kazakh farmers harvested 659,100 MT of all grains as of July 31, down from 730,600 MT a year ago. Yields totalled 1.97 mt/ha up from 2.16 mt/ha a year ago

- Turkey's Grain Board expects 2017 wheat production at 21.8 MMT vs. USDA’s forecast of 19.5 MMT

- USDA attaché estimates Zimbabwe’s winter wheat production in 2017/18 at 105,000 MT, which is five times more than the wheat produced in the 2016/17. However, Zimbabwe will still have to import about 200,000 MT of wheat in 2017/18 (vs. 280,000 MT in 2016/17)

CORN

- Aug 1 - USDA announced export sales of 100,000 MT of US corn for delivery to Colombia during 2017/18

- July 31 - USDA announced export sales of 150,000 MT of US corn for delivery to Colombia during 2017/18

- July 31 - Argentina registered 95,315 MT of corn for export

- July 28 - Argentina registered 110,000 MT of corn for export

- USDA rated 61% of the US corn crop as good-to-excellent as of July 30, down 1% point from the previous week and compared to 76% a year-ago, slightly below analysts' forecast (62%)

- US corn export inspections for week, ending July 27, reported 989,105 MT, within market forecasts (0.85-1.05 MMT). Inspections for 2016/17 are running 31.4% ahead of year-ago

- EC cut its 2017 EU corn harvest forecast to 58.449 MMT from 62.063 MMT last month (61.086 MMT in 2016). Projected imports in new season were upped from prior month by 3.05 MMT to 15.3 MMT (12.938 MMT in 2016/17). EC raised its estimate for 2016/17 corn ending stocks to 15.26 MMT from 14.705 MMT previously and increased expected stocks at the end of 2017/18 to 14.466 MMT from 13.172 MMT in June

- EC raised its 2017 EU barley harvest outlook to 57.539 MMT from 57.041 MMT last month, down from 59.337 MMT in 2016. Projected exports in new season were kept unchanged from prior month at 7 MMT (8.132 MMT in 2016/17). EC trimmed its forecast for 2017/18 barley ending stocks to 6.216 MMT from 6.401 MMT previously and vs. 6.099 MMT in 2016/17

- USDA attaché estimates Zimbabwe’s corn crop for the 2017/18 at around 2.155 MMT, up more than 320% from the 2016/17 corn crop of 512,000 MT. For the first time in over a decade, Zimbabwe will be self-sufficient in corn production and will not have to import any corn in the 2017/18 (vs. 1.4 MMT in 2016/17)

- Russian farmers harvested 4.35 MMT of barley from 14.7% of the planned area as of July 31, down from 5.35 MMT a year ago. Yields totalled 3.69 mt/ha up from 3.36 mt/ha a year ago

- Rosselkhoznadzor estimated Russian barley exports between Jul 1-24, 2017/18 at 470,800 MT compared to 364,400 MT a year ago

- Rosselkhoznadzor estimated Russian corn exports between Jul 1-24, 2017/18 at 302,200 MT compared to 14,300 MT a year ago

- Turkey's Grain Board expects 2017 barley production at 7.5 MMT vs. USDA’s forecast of 7 MMT

- Turkey's Grain Board expects 2017 corn production at 5.9 MMT vs. USDA’s forecast of 5.5 MMT

- EIA estimated US ethanol production for May at 31.7 million barrels versus 29.5 million barrels in April and vs. 30.228 million barrels a year ago

- EIA reported May ethanol inventory at 22.909 million barrels, which is down 2.9% from April but up 10.2% from last year

SOYBEAN

- Aug 2 - Iran seeks 30,000 MT of soybean oil

- July 31 - Argentina registered for export 38,000 MT of soymeal and 15,500 MT of soybean oil

- July 28 - Argentina registered for export 5,000 MT of soybeans, 41,500 MT of soymeal and 11,021 MT of soybean oil

- July 28 - Argentina registered for export 8,000 MT of sunflower meal

- USDA rated 59% of the US soybean crop as good-to-excellent as of July 30, up 2% points from prior week and ahead of market expectations (57%), but below compared to 72% a year-ago

- US soybean export inspections for week, ending July 27, reported 476,186 MT, within market expectations. Inspections for the 2016/17 marketing year are running 16.2% ahead of year-ago

- EIA said US May biodiesel production at 136 million gallons vs. 127 million gallons in April and vs. 135 million gallons a year ago

- EIA said 546 million lbs. of soybean oil used for biodiesel in May (52% of feedstock used to produce biodiesel) vs. 427 million lbs. in April and vs. 544 million lbs. a year ago

- USDA attaché forecasts that China would likely to import a record 91.5 MMT of soybeans in 2017/18, up 3 MMT from 2016/17. The post expects Chinese soybean production to climb 1 MMT from 2016/17 to 14.1 MMT in 2017/18

- EC lowered its 2017 EU rapeseed harvest forecast to 21.557 MMT from 21.716 MMT in June, up 9.6% from 19.661 MMT in 2016

- EC increased its 2017 EU soybean harvest view to 2.582 MMT from 2.536 MMT last month, up 3.8% from 2.488 MMT in 2016

- EC trimmed its 2017 EU sunflower crop forecast to 8.61 MMT from 9.027 MMT in June, up 0.4% from 8.577 MMT in 2016

- Strategie Grains raised its 2017 EU rapeseed crop forecast to 21.91 MMT from 21.12 MMT previously, mainly due to harvest results in France, up 8% from the 2016 harvest (20.29 MMT)

- Strategie Grains upped its 2017 EU sunflower crop forecast to 8.5 MMT from 8.36 MMT in June, up 3% from the 2016 harvest (8.25 MMT)

- Strategie Grains raised its 2017 EU soybean crop forecast to 2.62 MMT from 2.58 MMT last month, up 5.9% from the 2016 harvest (2.47 MMT)

- France's rapeseed yield is set to reach a record level, allowing the country to harvest a large crop despite a sharp fall in area linked to a difficult sowing season. French rapeseed production may reach 5.3 MMT, up from last year's 4.7 million

- Russian farmers harvested 236,100 MT of rapeseed from 11.5% of the planned area as of July 31, up from 123,300 MT a year ago. Yields totalled 2.01 mt/ha vs. 2.00 mt/ha a year ago

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

- Surveyor Intertek Testing Services estimated Malaysia's July 1-31 palm oil exports at 1,239,407 MT up 4.1% from a month ago

- Surveyor SGS estimated Malaysia's July 1-31 palm oil exports at 1,260,143 MT up 4.1% from a month ago