WHEAT

- Aug 20 - The lowest offer in Iraq’s tender for 50,000 MT of hard wheat came in at 297 $/mt c&f free out for the US wheat. The tender had requested wheat sourced from the US or Australia. Other offers: 298.48, 302.48-307.48 $/mt c&f free out for US wheat; 298.77, 299.19-307.77 $/mt c&f free out for Australian wheat. The tender closed on August 20 and offers must remain valid up to August 24

- Aug 18 - Saudi Arabia's SAGO (Saudi Grains Organisation) bought 490,000 MT of hard wheat (12.5% protein) of EU, North and South American and Australian origin at an average price of 218.19 $/mt c&f in 8 consignments for Oct-Dec shipment to the ports of Jeddah (305 TMT) and Dammam (185 TMT):

  • Jeddah sea port:
    • 65,000 MT of hard wheat from ADM Hellas at 214.78 $/mt c&f (Oct 20-30);
    • 60,000 MT of hard wheat from Holbud Limited at 216.43 $/mt c&f (Nov 1-10);
    • 60,000 MT of hard wheat from Holbud Limited at 216.98 $/mt c&f (Nov 10-20);
    • 60,000 MT of hard wheat from Graincorp at 214.47 $/mt c&f (Nov 20-30);
    • 60,000 MT of hard wheat from Holbud Limited at 218.10 $/mt c&f (Dec 1-10).
  • Dammam sea port:
    • 65,000 MT of hard wheat from Cargill at 220.97 $/mt c&f (Oct 20-30);
    • 60,000 MT of hard wheat from Holbud Limited at 222.38 $/mt c&f (Nov 10-20);
    • 60,000 MT of hard wheat from Graincorp at 221.47 $/mt c&f (Dec 1-10)

- Aug 16 - Taiwan Flour Millers' Association bought 98,850 MT of US milling wheat from United Grain Corp in two consignments:

  • The first consignment has an additional charge of 26.68 $/mt for ocean shipping from the US Pacific North West coast to Taiwan for shipment between Oct 6-20:
    • 28,050 MT of dark northern spring wheat (14.5% protein) at 305.40 $/mt fob;
    • 16,600 MT of hard red winter wheat (12.5% protein) at 224.79 $/mt fob;
    • 5,125 MT of soft white wheat (9% protein) at 202.58 $/mt fob.
  • The second consignment has an additional charge of 26.96 $/mt for ocean shipping from the US Pacific North West coast to Taiwan for shipment between Oct 23-Nov 6:
    • 27,650 MT of dark northern spring wheat (14.5% protein) at 312.80 $/mt fob;
    • 16,350 MT of hard red winter (12.5% protein) at 232.19 $/mt fob;
    • 5,075 MT of soft white wheat (9% protein) at 206.28 $/mt fob

- Egypt is considering the rejection of a 63,000 MT-Romanian wheat cargo at the Red Sea port of Safaga, purchased by GASC, because it contained poppy seeds

- US wheat export inspections for week, ending Aug 17, recorded 583,126 MT, near the upper end of market expectations. Inspections for 2017/18 are running 11.9% ahead of year-ago

- USDA rated 34% of the US spring wheat crop in good-to-excellent condition as of Aug 20, up from 33% a week earlier and ahead of market forecasts (33%), but below the 66% a year-ago. The wheat harvest was 58% complete by Aug 20, ahead of 5-year mean (51%) and average expectation (57%), but lag behind last year pace (63%)

- Russian Ag Min forecasts 2017/18 wheat exports at around 40 MMT

- MARS kept its yield estimate for this year's EU soft wheat at 5.85 mt/ha, up 5.1% from last year and 0.2% above the five-year mean

- Germany's association of farm cooperatives lowered its forecast of country’s 2017 wheat crop to 24.34 MMT from 25.39 MMT in July, a 0.5% decrease from last year

- Kazakh farmers harvested 2.396 MMT of all grains as of August 22, up over 2.101 MMT a year ago. Yields totalled 1.84 mt/ha down from 1.98 mt/ha a year ago

- Ukrainian grain stocks were at 21.858 MMT as of August 1, down 8.6% from a year earlier, incl. 14.77 MMT of wheat (16.618 MMT a year ago), 3.116 MMT of barley (3.958 MT a year ago) and 2.138 MMT of corn (1.626 MMT a year ago). The data does not include grain stored at small farms

CORN

- Aug 24 - Jordan seeks 100,000 MT of optional-origin feed barley for January shipment

- Aug 23 - Taiwan's MFIG seeks up to 130,000 MT of corn from the US, Argentina, Brazil or South Africa for Oct-Nov shipment

- South Korea's KOCOPIA bought around 55,000 MT of optional-origin corn at 190.87 $/mt c&f for November shipment

- US corn export inspections for week, ending Aug 17, reported 691,442 MT, below the market forecasts (750-950 TMT). Inspections for 2016/17 are running 25.1% ahead of year-ago

- USDA rated 62% of the US corn crop as good-to-excellent as of Aug 20, unchanged from the previous week, matching analysts’ expectations, but down compared to 75% a year-ago

- According to Pro Farmer Midwest Crop Tour, an average corn yield expected at 147.97 bu. per acre in South Dakota (vs. 149.78 in 2016 and the tour's three-year average of 156.14 bpa); 164.62 bpa in Ohio (vs. 148.96 and 159.81 bpa)

- MARS raised its yield forecast for this year's EU corn to 6.93 mt/ha from 6.83 mt/ha last month, down 3% from 2016 (7.15 mt/ha), but 0.6% above the five-year average

- MARS upped its yield estimate for this year's EU barley (winter and spring) to 4.74 mt/ha from 4.71 mt/ha last month, down 2.6% from last year (4.86 mt/ha) and 2% below the 5-year average

SOYBEAN

- Aug 24 - Egypt’s GASC seeks 30,000 MT of soybean oil for Oct 15-30 and 10,000 MT of sunflower oil for Oct 1-15 delivery

- Aug 21 - USDA announced export sales of 661,000 MT of US soybeans for delivery during 2017/18:

  • 198,000 MT to China;
  • 463,000 MT to unknown destinations

- US soybean export inspections for week, ending Aug 17, reported 665,283 MT, exceeded market expectations. Inspections for the 2016/17 marketing year are running 13.7% ahead of year-ago

- USDA rated 60% of the US soybean crop as good-to-excellent as of Aug 20, up 1% point from prior week and in line with market forecasts, but below compared to 72% a year-ago

- Surveyor Intertek Testing Services estimated Malaysia's August 1-20 palm oil exports at 679,539 MT down 14.7% from a month ago

- Surveyor SGS estimated Malaysia's August 1-20 palm oil exports at 692,662 MT down 15.3% from a month ago

- MPOB expects Malaysian palm oil output to rise 15.5% in 2017 to 20 MMT versus 17.32 million tonnes last year

- MARS raised its yield estimate for this year's EU rapeseed to 3.27 mt/ha from 3.21 mt/ha last month, up 8.8% from last year (3.0 mt/ha) and 0.8% above the 5-year average

- MARS upped its yield forecast for this year's EU sunflower seed to 2.07 mt/ha from 2.04 mt/ha last month, up 0.2% from 2016 (2.06 mt/ha) and 6.3% above the 5-year average (1.94 mt/ha)

- Ukrainian sunflower stocks were at 729 TMT as of August 1, up 69% from a year earlier (431 TMT). The data does not include grain stored at small farms