WHEAT

- Dec 7 - Argentina registered 234,125 MT of wheat for export

- Dec 6 - Argentina registered 116,160 MT of wheat for export

- Dec 6 - Jordan bought 100,000 MT of optional-origin hard milling wheat from Ameropa at 224.5 $/mt c&f for Mar 16-31 and Apr 1-15 shipment

- Dec 7 - China sold 11,882 MT of 2012 wheat from state reserves or 2.6% of the offered amount (457,937 MT) at auction at average price of 2,383 RMB/mt (360 $/mt)

- Dec 6 - Japan bought 2,450 MT of feed grain (2,250 MT of wheat and 200 MT of barley) for March 2, 2018, arrival via SBS-tender. New SBS tender for 120,000 MT of feed wheat and 200,000 MT of feed barley will be held on Dec 13

- Nov 28 - Bangladesh bought 50,000 MT of optional origin milling wheat, 12.5% protein, from Singsong at 245.35 $/mt CIF liner out for shipping within 40 days of the signing of the contract

- Weekly US wheat export sales data for week ended Nov 30 totalled 323,000 MT, incl. 321,400 MT for 2017/18 (within trade expectations of 250-450 TMT). Export commitments for 2017/18 are running 10% behind of year-ago

- According to TAXUD, the EU this season in period of July 1-Dec 5, 2017/18 exported 8.754 MMT of soft wheat compared to 11.32 MMT a year ago

- Russia will spend 2 billion roubles ($34 million) in grain transportation subsidies to help to speed exports in 2018

- Russia is likely to continue deliveries of grain to Syria as part of humanitarian aid supplies

- Russia still expects to export 45 MMT of grain in the 2017/18 marketing year which started on July 1, including 35 MMT of wheat

- Ukraine's Ag Min said Ukraine exported 17.5 MMT of grain between July 1-Dec 6 2017/18 vs. 18.79 MMT for the same period last season, including:

  • wheat – 10.15 MMT (vs. 10.17 MMT a year ago);
  • corn – 3.56 MMT (4.58 MMT);
  • barley – 3.74 MMT (3.98 MMT)

- Egypt's strategic wheat reserves stand at 3.4 MMT. The current wheat reserve level is enough to last four-and-a-half months

- Statistics Canada raised its 2017 crop estimate for all-wheat to 29.98 MMT from 27.13 MMT in Sept, above average expectation of 28 MMT but down 5.5% from 2016; incl. durum at 4.96 MMT (4.299 MMT in Sept, above average expectation of 4.6 MMT but down 36.1% from 2016)

- FAO raised its forecast of global wheat production in 2017 to 754.9 MMT from 752.8 MMT projected in Nov, indicating a 0.8% (6.4 MMT) decline from the 2016 record level. The upturn is mainly reflecting upward revisions in the EU more than offsetting a cut in Argentina. Global wheat stocks (ending in 2018) lowered by 1 MMT from last month but still a record of 257.2 MMT and well above their opening levels (244.4 MMT)

- Informa Economics put Australia 2017/18 wheat production at 20.3 MMT, down 1.3 MMT from previous estimate

- Informa Economics estimated Argentina's 2017/18 wheat crop at 18.0 MMT, up 300,000 MT from prior forecast

- Coceral raised its estimate for EU-28’s 2017 soft wheat crop by 928 TMT to 142.049 MMT (135.502 MMT in 2016)

- Ukrainian parliament voted to extend a ban on the sale of agricultural land by one year

- Bangladesh will import 150,000 MT of rice from India in a state deal priced at 440 $/mt

CORN

- Dec 7 - Turkey's TMO bought 60,000 MT of corn for Dec 15-Jan 12 shipment:

  • 20,000 MT from Bunge at 712 Turkish lira/mt (184 $/mt) c&f Bandirma;
  • 20,000 MT from Erser at 721 TRY/mt (186.3 $/mt) c&f Izmir;
  • 20,000 MT from ADM at 723 Turkish lira/mt (186.8 $/mt) c&f Samsun, Tekirdag

- Dec 7 - Turkey's TMO bought 84,000 MT of barley (7x12 TMT) for Dec 15-Jan 12 shipment:

  • 12,000 MT from Ulusoy at 812 TRY/mt (209.8 $/mt) c&f Samsun;
  • 12,000 MT from Ulusoy at 815 TRY/mt (210.6 $/mt) c&f Trabzon;
  • 36,000 MT from Louis Dreyfus at 819 Turkish lira/mt (211.6 $/mt) c&f Mersin;
  • 24,000 MT from Ulusoy at 833 TRY/mt (215.2 $/mt) c&f Iskenderun

- Dec 7 - Argentina registered 115,243 MT of corn for export

- Weekly US corn export sales data for week ended Nov 30 of 876,400 MT for 2017/18 (near lower end of trade expectations of 0.8-1.2 MMT). Export commitments for 2017/18 are running 27% behind of year-ago

- EU this season in period of Jul 1-Dec 5, 2017/18 imported 6.256 MMT of corn (maize) vs. 4.001 MMT a year ago

- EU this season in period of Jul 1-Dec 5, 2017/18 exported 378,327 MT of corn vs. 1.073 MMT a year ago

- EU this season in period of Jul 1-Dec 5, 2017/18 exported 2.333 MMT of barley vs. 1.803 MMT a year ago

- EU this season in period of Jul 1-Dec 5, 2017/18 exported 1.237 MMT of malt in barley equivalent vs. 1.26 MMT a year ago

- FAO raised its forecast of global corn production in 2017 to a record 1,075.3 MMT from 1,063.6 MMT projected in Nov, indicating a 3.2% (33.8 MMT) growth from 2016. The increase from November is mostly driven by higher estimates for maize production in the US, following positive revisions for yields, and in Indonesia, where production is now estimated at a record high as a result of a significant expansion in plantings. These increases more than compensated for a cut to Ukraine’s maize output. Forecast of global corn stocks (ending in 2018) raised by 8.5 MMT to a record of 245.2 MMT (237.3 MMT in 2016/17)

- Informa Economics put 2017/18 Brazil all-corn production at 89 MMT, down 3 MMT from a previous forecast

- Informa Economics estimated 2017/18 Argentina сorn production at 42.0 MMT unchanged from the previous month

- Coceral upped its EU-28’s 2017 corn production forecast to 61.423 MMT from 59.799 MMT in Oct, up vs. 60.777 MMT in 2016

- Coceral lifted its estimate for EU-28’s 2017 barley harvest to 58.416 MMT, up 799 TMT from Oct forecast but below the 59.689 MMT last season

- Statistics Canada lowered its 2017 crop estimates for corn for grain to 14.095 MMT from 14.313 MMT in Sept, matching expectations and up 6.8% from 2016

- Statistics Canada raised its 2017 crop estimate for barley to 7.891 MMT from 7.306 MMT in Sept, above expectations of 7.5 MMT but down 10.2% from 2016, while lowered for oats to 3.724 MMT (vs. 3.802 MMT in Sept, up 16.6% from 2016)

- US Ethanol production for the week ended Dec 1 rose by 42,000 barrels to a record high 1,108,000 barrels per day, up 8.3% from last year's level of 1,023,000 bpd. Stocks climbed by 500,000 barrels from the week prior to 22.544 million barrels, up 21.7% vs. 18.53 million barrels a year ago

- Egg prices in South Africa are expected to increase by 15-20% after an outbreak of the highly pathogenic avian flu in June forced farmers to cull egg laying birds

SOYBEAN

- Weekly US soybeans export sales data for week ended Nov 30 of 2,086,200 MT, incl. 2,015,800 MT for 2017/18 (above the expectations of 1-1.5 MMT). Export commitments for 2017/18 are running 16% behind of year-ago

- FAO’s soybean 2017/18 global production forecast slightly trimmed to 345.9 MMT from 346.3 MMT in Nov (348.6 MMT in 2016), with downward corrections in Argentina only partially offset by higher forecasts for Brazil. Forecast of 2017/18 global soybean stocks revised downward to 45.9 MMT from 49.1 MMT in November and vs. 51.1 MMT in 2016/17

- Forecasts of dry weather in Argentina support soybean prices

- Informa Economics estimated 2017/18 Brazil soybean production at 110 MMT, down 1 MMT from its previous estimate

- Statistics Canada raised its 2017 crop estimate for canola to a record 21.313 MMT from 19.708 MMT in Sept, above average expectation of 20.2 MMT and up 8.7% over 2016

- Statistics Canada lowered its 2017 crop estimate for soybeans to a record 7.717 MMT from 8.321 MMT in Sept, below average expectation of 8.1 MMT but up 17.8% from 2016

- Coceral slightly lowered its estimate for 2017 EU-28 rapeseed harvest to 21.895 MMT, down 92 TMT from Oct forecast but better than the 20.547 MMT last season

- Coceral raised its projection for 2017 EU-28 sunflower seed crop to 8.968 MMT from 8.722 MMT in Oct, up from 8.309 MMT in 2016

- Coceral slightly lowered its projection for 2017 EU-28 soybean crop to 2.619 MMT from 2.625 MMT in Oct, up 7.4% from 2.439 MMT in 2016

- EU this season in period of Jul 1-Dec 5, 2017/18 imported 5.019 MMT of soybeans vs. 5.686 MMT a year ago

- EU this season in period of Jul 1-Dec 5, 2017/18 imported 8.474 MMT of soymeal vs. 7.711 MMT a year ago

- EU this season in period of Jul 1-Dec 5, 2017/18 imported 120,727 MT of soybean oil vs. 129,831 MT a year ago

- EU this season in period of Jul 1-Dec 5, 2017/18 imported 1.821 MMT of rapeseed vs. 1.066 MMT a year ago

- EU this season in period of Jul 1-Dec 5, 2017/18 imported 84,717 MT of rapeseed meal vs. 105,019 MT a year ago

- EU this season in period of Jul 1-Dec 5, 2017/18 imported 90,056 MT of rapeseed oil vs. 97,486 MT a year ago

- EU this season in period of Jul 1-Dec 5, 2017/18 imported 216,957 MT of sunflowerseed vs. 404,353 MT a year ago

- EU this season in period of Jul 1-Dec 5, 2017/18 imported 1.364 MMT of sunflower meal vs. 1.188 MMT a year ago

- EU this season in period of Jul 1-Dec 5, 2017/18 imported 708,901 MT of sunflower oil vs. 489,098 MMT a year ago

- EU this season in period of Jul 1-Dec 5, 2017/18 imported 2.67 MMT of palm oil vs. 2.598 MMT a year ago