WHEAT

- Sept 1 - Japan bought 125,713 MT of food wheat for Sept-Oct shipments:

  • 17,870 MT of western white US wheat;
  • 16,675 MT of hard red winter US wheat;
  • 32,578 MT of dark northern spring US wheat;
  • 58,590 MT of Canadian western red spring wheat

- Aug 31 - Argentina registered 30,000 MT of wheat for export

- IKAR raised its forecast for Russian wheat output and exports to 81-84 MMT (previous 79-82 MMT) and 31-33 MMT (previous 30-32 MMT) respectively. It also raised its estimate for the country's total grain crop and grain exports to 131-134 MMT and 41.5-44.0 MMT

- Russia’s Ag Min said Russia exported about 6.91 MMT of grain between July 1-Aug 30, 2017/18, up by 28.8% from 5.366 MMT a year ago, including:

  • wheat – 5.0 MMT (4.494 MMT in 2016/17);
  • barley – 1.366 MMT (797 TMT);
  • corn – 502 TMT (43 TMT);
  • others – 42 TMT (32 TMT)

- Russia has 3,982,600 MT of grain in its federal intervention fund as of Sept 1 vs. 3,246,900 MT a year-ago

- Russian farmers harvested 67.78 MMT of wheat from 63.4% of the planned area as of Sept 1, up from 63.82 MMT a year ago. Yields totalled 3.84 mt/ha up from 3.17 mt/ha a year ago

- Russian farmers have planted 2.4 million hectares (13.8% of the planned area) of winter crops as of September 1 down vs. 2.9 mln ha a year ago

- Ukrainian farmers have started winter grain sowing for the 2018 harvest. The area under winter wheat will likely to total 6.1 million hectares while the area of winter barley could be 926,000 hectares

- Buenos Aires Grain Exchange maintains its estimate of Argentine 2017/18 wheat crop area at 5.35 mln ha (5.1 mln ha in 2016/17). Exchange estimates 100% of the crop has been planted as of August 31

CORN

- Sept 1 - Argentina registered 240,230 MT of corn for export

- Sept 1 - China sold 696,919 MT of 2013, 2014 corn from state reserves, or 58.1% of the offered amount (1,199,835 MMT), at average price of 1,437 RMB/mt (219 $/mt)

- Informa Economics raised its US 2017 corn production forecast to 14.123 billion bushels (358.7 MMT) from 13.852 billion in August. Informa also upped its corn yield estimate to 169.2 bushels per acre from its August figure of 165.9 bpa

- FCStone raised its forecast of the US 2017 corn yield to 166.9 bushels per acre, from 162.8 in its previous monthly report released Aug 1. The production forecast was lifted from 13.59 to 13.939 bln bushels (354.1 MMT)

- The EU has raised its import tariffs on maize, sorghum and rye to 10.95 €/mt (13 $/mt) from 5.16 €/mt previously

- FranceAgriMer estimated French corn condition as of Aug 28 as 79% in good to excellent, down 1% point from the prior week but well above the year-ago score of 60%

- Vietnam has lifted its ban on imports of US distillers' dried grains with solubles (DDGs) which has been in effect since October. Cargoes of US DDGs will need to be fumigated before being allowed entry into the country

- Brazil’s Trade Ministry reported August corn exports at 5.257 MMT, up from 2.323 MMT in July and above the 2.565 MMT in the year-ago month

- Brazil’s Trade Ministry reported August ethanol exports at 176.8 million litres, up from 156.1 mln litres in July and up from 168.6 mln litres last August

- 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 93.6% completed as of Aug 31 vs. last year’s pace of 96.6%

- Ukrainian farmers had started the 2017 maize harvest, threshing the first 26,000 MT from 7,000 hectares as of Sept 1

- Russian farmers harvested 256,400 MT of corn from 1.7% of the planned area as of Sept 1, up from 145,100 MT a year ago. Yields totalled 4.93 mt/ha vs. 4.94 mt/ha a year ago

- Russian farmers harvested 17.5 MMT of barley from 73.9% of the planned area as of Sept 1, up from 16.95 MMT a year ago. Yields totalled 2.94 mt/ha up from 2.42 mt/ha a year ago

- Sept 1 - New rules governing Brazil's ethanol imports, which slap a 20% penalty for volumes above a tax-free import quota, took effect. 600 million liters of ethanol will be allowed in per year tax free but it will be broken down by quarter. Once imports have surpassed 150 million liters in any given quarter, the 20% tax will begin

- US corn consumed for alcohol and other uses was 509 million bushels in July 2017, up 4% from June 2017 but down slightly from July 2016

- US dry mill co-product production of distillers dried grains with solubles (DDGs) was 1.92 million tons during July 2017, up 7% from June 2017 but down 6% from July 2016

- US wet mill corn gluten feed production was 328 thousand tons during July 2017, down 4% from June 2017 and down 3% from July 2016

- EIA estimated US ethanol production for June at 30.667 million barrels versus 31.7 million barrels in May and vs. 30.443 million barrels a year ago

- EIA reported June ethanol inventory at 21.763 million barrels, which is down 5% from May but up 2.3% from last year

SOYBEAN

- Sept 1 - South Korea’s Agro-Fisheries & Food Trade Corp bought 10,000 MT of US non-GM soybeans from Singsong Food (7,000 MT at 573.42 $/mt) and CJ International Asia Co., Ltd (3,000 MT at 574 $/mt) for arrival around Dec 22, 2017

- Sept 1 - Argentina registered for export 95,000 MT of soybeans and 89,700 MT of soymeal

- Aug 31 - Argentina registered 21,500 MT of soybeans for export

- Informa Economics raised US 2017 soybeans production estimate to 4.384 billion bushels (119.3 MMT) from August forecast of 4.196 billion. It lifted soy yield estimate to 49.4 bpa from 47.3 bpa in August

- FCStone raised its forecast of the US 2017 soybean yield to 49.8 bpa, from 47.7 in its previous monthly report released Aug 1. The production forecast was lifted from 4.235 to 4.418 bln bushels (120.2 MMT)

- USDA estimated US July soybean crush for crude oil at 4.669 million short tons (155.6 mln bu), a 5% increase from June, above the average market expectation (4.606 mln tons, or 153.5 mln bu) and last year level (4.604 mln tons in July 2016). Crude soyoil stocks fell to 1.628 billion lbs as of July 31 from 1.815 in June, below the 1.866 bln lbs a year ago, while refined oil stocks were at 372.678 million lbs as of July 31 vs. 327.785 in June and 348.481 in July 2016. July US soy cake and meal stocks rose to 385,868 tons from 314,965 in June and vs. 419,802 tons a year-ago

- EIA said US June biodiesel production at 140 million gallons vs. 136 million gallons in May and vs. 135 million gallons a year ago

- EIA said 549 million lbs. of soybean oil used for biodiesel in June (51% of feedstock used to produce biodiesel) vs. 546 million lbs. in May and vs. 519 million lbs. a year ago

- Brazil’s Trade Ministry reported August soybean exports at 5.952 MMT, down from 6.955 MT in July but above the 3.816 MMT a year ago. Also Brazil exported 1.227 MMT of soymeal in August versus 1.156 MMT the month before and 1.093 MMT a year ago; and 145,915 MT of soyoil compared to 137,305 MT in July and 165,900 MT a year ago

- Buenos Aires Grain Exchange expects Argentina’s 2017/18 sunflower seed acreage will rise to 1.8 mln ha (1.7 mln ha in 2016/17). About 26.3% of the crop has been planted as of Aug 31 vs. 22.2% this time last year

- Ukrainian farmers had started the 2017 sunseed harvest, threshing the first 242,000 MT from 158,000 hectares as of Sept 1

- Ukrainian farmers had started the 2017 soybean harvest, threshing the first 25,000 MT from 15,000 hectares as of Sept 1

- Ukrainian farmers have planted 574,000 hectares of winter rapeseed (74% of plan) as of September 1

- Russian farmers harvested 158,000 MT of sunseed from 1.0% of the planned area as of Sept 1, down from 180,700 MT a year ago. Yields totalled 2.03 mt/ha vs. 2.09 mt/ha a year ago

- Russian farmers harvested 131,000 MT of soybeans from 2.6% of the planned area as of Sept 1, up from 95,900 MT a year ago. Yields totalled 1.96 mt/ha vs. 1.81 mt/ha a year ago

- Russian farmers harvested 485,100 MT of rapeseed from 22.7% of the planned area as of Sept 1, up from 421,600 MT a year ago. Yields totalled 2.1 mt/ha vs. 1.39 mt/ha a year ago

- Surveyor Intertek Testing Services estimated Malaysia's August 1-31 palm oil exports at 1,243,361 MT up 0.3% from a month ago