WHEAT

- Apr 26 - Algeria’s OAIC bought 420,000 MT of optional-origin soft wheat, likely mostly from France, at around 224-225 $/mt c&f for July shipment

- Weekly US wheat export sales data for week ended Apr 19 totalled 577,500 MT, incl. 297,200 MT for 2017/18 (topped trade expectations for -100-+200 TMT) and 280,300 MT for 2018/19 (within trade expectations for 150-350 TMT). Export commitments for 2017/18 are running 16% behind of year-ago

- Russia’s Ag Min said Russia exported about 43.233 MMT of grain between July 1-Apr 25, 2017/18, up by 42.3% from 30.387 MMT a year ago, including:

  • wheat – 33.675 MMT (23.542 MMT in 2016/17);
  • barley – 4.81 MMT (2.439 MMT);
  • corn – 4.462 MMT (4.192 MMT)

- IKAR said that Russia may export up to 52 MMT of grain in 2017/18, including up to 40 MMT of wheat

- Russian Ag Min estimated spring grain planting 10.9% (or 3.38 million ha) done as of Apr 27 vs. 4.18 million ha a year ago. Russian farmers have sown 340,900 ha of spring wheat or 2.6% of planned area vs. 549,100 ha a year ago

- Russia has 3,963,600 MT of grain in its federal intervention fund as of Apr 27 vs. 4,002,500 MT a year ago

- European Commission (EC) lifted its forecast of 2018 EU soft wheat crop by around 0.5 MMT to 141.5 MMT vs. 141.68 MMT last year. EU's executive upped its forecast of 2018/19 EU soft wheat exports by 1.7 MMT to 27 MMT (23 MMT current season). Soft wheat inventories in the region are forecasted at 14.6 MMT by the end of June 2019 vs. 15.58 MMT estimated for 2017/18

- FranceAgriMer said 77% of France’s soft wheat crops were in good to excellent condition as of Apr 22, down 1% point from prior week and down vs. 78% a year ago

- India aims to produce a record 283.7 MMT of grains in the crop to June 2019, up from 277.49 MMT of estimated production in the current year. The country plans to harvest 113 MMT of rice and 100 MMT of wheat in the 2018/19 crop year

- Stats Canada estimates Canada’s 2018 all-wheat seedings at 25.26 million acres, up 12.8% from a year earlier and the most since 2013, also above the range of pre-report expectations for 20.5-24.2 million

- International Grains Council (IGC) trimmed its forecast for global wheat production in 2018/19 by 1.8 MMT to 739 MMT (758.4 MMT in 2017/18). Forecast of ending stocks was raised by 3.8 MMT to 256.8 MMT (262.6 MMT in 2017/18)

CORN

- Apr 26 - USDA announced export sales of 107,600 MT of US corn for delivery to unknown destinations during 2017/18

- Iran's SLAL bought about 200,000 MT of corn, likely from Brazil at around 190-200 EUR/mt c&f for August-September shipment

- Iran's SLAL bought about 130,000 MT of feed barley, likely from the Black Sea region at around 200 EUR/mt c&f for June-July shipment

- Apr 27 - China sold 2,448,493 MT of corn from state reserves, or 62.1% of the offered amount, at average price of 1,392 RMB/mt (220 $/mt)

- Apr 26 - China sold 2,681,155 MT of corn from state reserves, or 89.9% of the offered amount, at average price of 1,496 RMB/mt (237 $/mt)

- Weekly US corn export sales data for week ended Apr 19 of 620,500 MT, incl. 697,100 MT for 2017/18 (below trade expectations of 0.8-1.2 MMT). Export commitments for 2017/18 are running 2% behind of year-ago

- EC slightly upped forecast of 2018 EU corn harvest to 64 MMT (65.215 MMT in 2017). EC forecasts EU 2018/19 corn imports at 13.3 MMT vs. 15 MMT in 2017/18 and ending stock at 20.62 MMT vs. 21.68 MMT current season

- EC trimmed its forecast of 2018 EU barley harvest by 118,000 MT to 61.31 MMT vs. 58.77 MMT in 2017. EC forecasts EU 2018/19 barley exports at 10.49 MMT vs. 8.0 MMT in 2017/18 and ending stock at 6.88 MMT vs. 5.92 MMT current season

- FranceAgriMer said 73% of France’s winter barley crops were in good to excellent condition as of Apr 22, compared with 73% a week earlier and vs. 71% a year ago. Spring barley rating was at 81% in good to excellent vs. 81% last week and vs. 80% a year ago

- FranceAgriMer estimated corn planting 33% done as of Apr 22 (6% a week-ago), sharp behind of last year’s pace of 72%

- Ukrainian farmers have sown 1.5 million ha of corn or 32% of planned area as of April 27

- Ukraine’s Ag Min estimated early spring grain planting 89%, or 2.1 million ha done as of Apr 27, thereof:

  • 1.4 million ha of barley (or 90% of planned area);
  • 394,000 ha of peas (or 93%);
  • 173,000 ha of oats (or 84%);
  • 149,000 ha of wheat (or 84%)

- Russian farmers have sown 1.32 million ha of spring barley or 17.3% of planned area as of April 27 vs. 1.99 million ha a year ago

- Russian farmers have sown 893,100 ha of corn or 29.7% of planned area as of April 27 vs. 910,100 ha a year ago

- Stats Canada expects country’s 2018 corn for grain plantings at 3.76 million acres, a 5.1% increase over 2017 and above average expectation of 3.58 million acres

- Stats Canada estimates Canada’s 2018 barley plantings at 6.06 million acres, below avg expectation of 6.22 mln acres but up 5.1% from 2017; oat plantings at 3.15 million acres, in line with expectations but down 1.6% from a year ago

- IGC upped its forecast of the global corn crop in 2018/19 by 1.9 MMT to 1.054 billion tonnes (1.046 BMT in 2017/18), mostly reflecting better perspectives for China and EU. IGC cut its forecast for 2018/19 global corn carryover by 3.5 MMT from March to 261.9 MMT vs. 306.8 MMT in 2017/18

SOYBEAN

- Apr 30 - USDA announced export sales of 120,000 MT of US soybeans for delivery to Argentina during 2018/19

- Apr 27 - Argentina registered 195,000 MT of soymeal for export

- Apr 26 - Egypt’s GASC bought 28,200 MT of local soybean oil at around 781.5 $/mt from Watanya/Cargill (15 TMT) and Alex Co. (13.2 TMT), also 29,500 MT of sunflower oil at 816.5 $/mt c&f (with facilities 180 days) from ADM (18 TMT) and Aston (11.5 TMT) for July 1-15 arrival

- Iran's SLAL bought about 130,000 MT of soymeal, likely from Brazil or Argentina at around 400 EUR/mt c&f for June-July shipment

- Apr 17 - Iran's GTC bought 30,000 MT of soybean oil and 30,000 MT of sunflower oil for June shipment

- Weekly US soybeans export sales data for week ended Apr 19 of 537,800 MT (371,300 MT for 2017/18 and 166,500 MT for 2018/19), below market expectations of 0.8-1.4 MMT. Export commitments for 2017/18 are running 3% behind of year-ago

- Weekly US soymeal export sales data for week ended Apr 19 of 264,500 MT, incl. 223,700 MT for 2017/18 (within market expectations of 100-300 TMT). Export commitments for 2017/18 are running 9% ahead of year-ago

- IGC raised its forecast for 2018/19 global soybean production by 1.5 MMT to 355.2 MMT (338.8 MMT in 2017/18). IGC upped global 2018/19 soybean carryover to 39.5 MMT (41.2 MMT in 2017/18), up by 0.9 MMT from prior forecast

- Stats Canada expects country’s 2018 canola plantings at 21.38 million acres down 7% from 2017 and below an average of expectations of 23.66 million

- Stats Canada estimates country’s 2018 soybean plantings at 6.45 million acres, below range of expectations 6.8-7.66 mln acres and down 11.4% from 2017

- India set a target to produce 36 MMT of oilseeds in 2018/19 against an estimate of 29.9 MMT in 2017/18

- Indian farmers are likely to expand soybean planting areas by nearly 15% after the government raised edible oil import tax to the highest level in more than a decade

- Ukrainian farmers have sown 2.5 million ha of sunflower or 45% of planned area as of April 27

- Ukrainian farmers have sown 262,000 ha of soybeans or 14% of planned area as of April 27

- Russian farmers have sown 956,500 ha of sunflower or 12.7% of planned area as of April 27 vs. 1.17 million ha a year ago

- Russian farmers have sown 150,900 ha of soybeans or 5.6% of planned area as of April 27 vs. 68,700 ha a year ago

- EC raised its forecast of 2018 EU rapeseed harvest by 0.3 MMT to 22.57 MMT, up 3.6% from 21.8 MMT in 2017

- EC forecasts 2018 EU sunflower seed crop at 9.9 MMT, down 4.9% from 10.4 MMT in 2017

- EC forecasts 2018 EU soybean harvest at 2.75 MMT, up 3.7% from 2017 (2.65 MMT)

- Indonesia will maintain export tax for crude palm oil at zero for May, as the CPO reference price is seen at below the 750 $/mt

- Surveyor AmSpec Agri Malaysia estimated Malaysia's April 1-30 palm oil exports at 1,311,770 MT down 5.7% from a month ago

- Surveyor SGS estimated Malaysia's April 1-30 palm oil exports at 1,331,564 MT down 4.5% from a month ago