WHEAT

- Aug 29 - Egypt's GASC bought 295,000 MT of wheat from Russia (235 TMT) and Ukraine (60 TMT) for October 1-10 shipment:

  • 60,000 MT of Russian wheat from Daewoo at 200.40 $/mt c&f (186.00 fob+14.40 freight);
  • 60,000 MT of Ukrainian wheat from Louis Dreyfus at 201.96 $/mt c&f (187.00 fob+14.96 freight);
  • 120,000 MT of Russian wheat from GTCS at 202.13 $/mt c&f (187.50 fob+14.63 freight);
  • 55,000 MT of Russian wheat from GTCS at 202.26 $/mt c&f (187.00 fob+15.26 freight)

- Egypt will issue a decision on a Romanian wheat shipment after the Eid al-Adha holiday, which ends on Sept 4. Egypt's agriculture quarantine service rejected a 63,000 MT Romanian wheat shipment due to the presence of poppy seeds last week

- Aug 28 - Argentina registered 31,094 MT of wheat for export

- US wheat export inspections for week, ending Aug 24, recorded 670,748 MT, near the upper end of market expectations. Inspections for 2017/18 are running 12.4% ahead of year-ago

- USDA estimated 76% of the US spring wheat harvest was complete by Aug 27, ahead of 5-year mean (66%) and average expectation (74%), but lag behind last year pace (79%)

- Ukraine's Ag Min said Ukraine exported 5.532 MMT of grain between July 1-Aug 28, 2017/18 vs. 5.848 MMT for the same period last season, including:

  • wheat – 2.663 MMT (vs. 3.188 MMT a year ago);
  • corn – 1.084 MMT (549 TMT);
  • barley – 1.775 MMT (2.095 MMT)

- Ukrainian farmers harvested 26.61 MMT of wheat from 100% of the planned area as of August 28, up from 26.37 MMT a year ago. Yields totalled 4.18 mt/ha versus 4.28 mt/ha a year ago

- Aug 29 - China sold 17,801 MT of wheat from state reserves or 0.6% of the offered amount (3,052,413 MT) at auction at average price of 2,360 RMB/mt (358 $/mt)

- Aug 29 - China auctioned 1,100 MT of imported wheat from state reserves, or 0.8% of the offered amount (139,004 MT) at average price of 2,550 RMB/mt (386 $/mt)

- South Africa's Crop Estimates Committee (CEC) in its first forecast expects wheat production this year at 1.604 MMT, down 16% from the previous season’s crop of 1,91 MMT. The area estimate for wheat was lowered to 479,600 hectares from 498,850 ha previously, 5.7% less last year's acreage

CORN

- Aug 29 - USDA announced export sales of 226,000 MT of US corn for delivery to Mexico during 2017/18

- Aug 28 - Argentina registered 88,131 MT of corn for export

- US corn export inspections for week, ending Aug 24, reported 805,756 MT, near the upper end of market expectations (650-850 TMT). Inspections for 2016/17 are running 23.1% ahead of year-ago

- USDA rated 62% of the US corn crop as good-to-excellent as of Aug 27, unchanged from the previous week, but down compared to 75% a year-ago. Analysts had expected a slight increase (to 63%)

- Dr. Michael Cordonnier raised his US corn yield projection by 1 bushel per acre (bpa) from last week to 166 bpa, resulting in a 13.85-billion-bu crop

- South Africa's Crop Estimates Committee (CEC) raised its forecast of corn output this year to a record high 16.413 MMT from 15.969 MMT last month. It would be 111% more than last year (7.779 MMT in 2016) and above an average of market expectations of 16.135 MMT

- Ukrainian meteorologist said that hot and dry weather in Ukraine's eastern and southern regions in August may reduce the country's maize harvest by 10-15% and could hamper winter grain sowing

- Ukrainian farmers harvested 8.61 MMT of barley from 100% of the planned area as of August 28, down from 9.77 MMT a year ago. Yields totalled 3.43 mt/ha vs. 3.4 mt/ha a year ago

- Ukrainian farmers harvested 1.1 MMT of peas from 100% of the planned area as of August 28, up from 763,000 MT a year ago. Yields totalled 2.67 mt/ha versus 3.22 mt/ha a year ago

SOYBEAN

- Aug 29 - USDA announced export sales of 198,000 MT of US soybeans for delivery to China during 2017/18

- Aug 28 - Argentina registered for export 10,000 MT of soybeans, 50,896 MT of soymeal and 5,084 MT of soybean oil

- US soybean export inspections for week, ending Aug 24, reported 716,171 MT, near the upper end of market expectations. Inspections for the 2016/17 marketing year are running 13.0% ahead of year-ago

- USDA rated 61% of the US soybean crop as good-to-excellent as of Aug 27, up 1% point from prior week, but below compared to 73% a year-ago. Analysts had expected the crop to be pegged at unchanged

- Dr. Michael Cordonnier upped his US soybean yield projection by 0.5 bushel per acre (bpa) from last week to 48 bpa, resulting in a 4.25-billion-bu crop

- CEC lowered S. Africa’s 2017 soybean crop forecast to 1.316 MMT from 1.34 MMT last month, up 77.4% from 742,000 MT in 2016

- CEC raised S. Africa’s 2017 sunflower crop outlook to 870,095 MT from 821,970 MT in May, up 15.2% from 755,000 MT in 2016

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

- Ukrainian farmers harvested 2.15 MMT of rapeseed from 99% of the planned area as of August 28, up from 1.16 MMT a year ago. Yields totalled 2.76 mt/ha versus 2.56 mt/ha a year ago

- Ukrainian farmers have planted 429,300 hectares of winter rapeseed (55% of plan) as of August 28 up from 346,000 ha a year ago