WHEAT

- May 17 - Japan seeks 89,937 MT of food wheat for June-July shipments:

  • 20,042 MT of western white US wheat;
  • 13,950 MT of dark northern spring US wheat;
  • 30,730 MT of Canadian western red spring wheat;
  • 25,215 MT of Australian standard white wheat

- May 16 - Taiwan Flour Millers' Association bought 83,350 MT of US milling wheat for July shipment:

  • 24,500 MT of dark northern spring wheat (14.5% protein) at 289.91 $/mt fob;
  • 11,750 MT of hard red winter wheat (12.5% protein) at 266.98 $/mt fob;
  • 6,200 MT of soft white wheat (9% protein) at 227.41 $/mt fob;
  • 22,500 MT of dark northern spring wheat (14.5% protein) at 285.19 $/mt fob;
  • 12,600 MT of hard red winter wheat (12.5% protein) at 259.32 $/mt fob;
  • 5,800 MT of soft white wheat (9% protein) at 212.37 $/mt fob

- May 16 - Jordan bought 60,000 MT of optional-origin hard milling wheat from Ameropa at 224.5 $/mt c&f for Sept shipment

- May 16 - Japan bought 17,460 MT of feed wheat for Oct 31 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 May 23

- May 16 - China sold 235,136 MT of wheat from state reserves or 11.4% of the offered amount at auction at average price of 2,399 RMB/mt (377 $/mt)

- May 15 - Egypt's GASC bought 60,000 MT of Ukrainian wheat from Louis Dreyfus at 234.95 $/mt c&f (219.9 fob+15.05 freight) for June 15-25 shipment

- May 15 - Tunisia's state grains agency bought 100,000 MT of soft wheat, 11.5%, for Jul 10-Aug 20 shipment:

  • 25,000 MT of soft milling wheat from Louis Dreyfus at 217.75 $/mt c&f;
  • 25,000 MT of soft milling wheat from Cofco at 216.17 $/mt c&f;
  • 25,000 MT of soft milling wheat from Cofco at 215.93 $/mt c&f;
  • 25,000 MT of soft milling wheat from Olam at 216.25 $/mt c&f

- May 14 - The lowest offer in Iraq’s tender for 50,000 MT of hard wheat came in at 309 $/mt c&f for Australian wheat from CBH. Other Australian offers were in range 311.68-327 $/mt c&f. The US wheat offers were at 319.99-328.5 $/mt c&f, and Canadian wheat at 315.53-324.5 $/mt c&f. The tender closed on May 14 and offers must remain valid up to May 20

- US wheat export inspections for week, ending May 10, recorded 404,180 MT, within trade expectations (250-500 TMT). Inspections for 2017/18 are running 12% behind of year-ago

- USDA rated 36% of the US winter wheat crop in good to excellent condition as of May 13, up 2% points from prior week and ahead of analysts' forecasts for 34%, but down vs. 51% a year ago. USDA said spring wheat was 58% planted, beating market forecasts of 52%, but well behind last year score of 75% and the five-year average of 67%

- Informa Economics estimated US 2018 plantings of spring wheat other than durum at 12.4 million acres

- Ukraine's Ag Min said Ukraine exported 35.4 MMT of grain between July 1-May 16 2017/18 vs. 38.7 MMT for the same period last season, including:

  • wheat – 15.7 MMT;
  • corn – 15.3 MMT;
  • barley – 4.19 MMT

- Germany's winter wheat sown area for the 2018 harvest has been reduced by 5.6% to about 2.95 million hectares

- Germany's association of farm cooperatives cut its forecast of country’s 2018 wheat crop to 23.98 MMT from 24.29 MMT in April, a 2% decrease from last year

- France's farm ministry put the soft wheat sowing area for this year's harvest at 4.953 million hectares, virtually unchanged from 4.963 million in 2017 and nearly 1.9% below the average of the past five years

- FranceAgriMer lowered its forecast for French soft wheat stocks at the end of the 2017/18 to 2.527 MMT from 2.661 MMT projected last month (2.944 MMT in 2016/17). Projected exports outside the EU were raised from 8.3 to 8.4 MMT, up 69% from 4.971 MMT in 2016/17, also forecast of shipments within the EU was upped from 8.937 to 9.072 MMT, up 44.9% from 6.259 MMT in 2016/17

- UK exported 40,380 MT of wheat in March, up from 37,418 MT in February but down 43% from a year-ago. Cumulative exports for the season, which started on July 1, 2017, totalled 384,108 MT vs. 1.32 MMT during the same period prior season

- India raised its estimate of 2017/18 overall grain production to 279.5 MMT from 277.5 MMT previously, incl. 98.6 MMT of wheat (prior forecast 97.1 MMT)

CORN

- May 15 - Tunisia's state grains agency bought 75,000 MT (3x25 TMT) of optional-origin feed barley from Glencore at 218.69 $/mt c&f for Jul 10-Aug 20 shipment

- May 15 - Jordan has made no purchase in an international tender for 120,000 MT of optional-origin feed barley and re-tender on May 22

- May 15 - South Korea's KOCOPIA rejected all offers in tender to buy 55,000 MT of corn for Sept 5 arrival, citing on too high prices. The lowest offer was for South African corn at 229.25 $/mt c&f including surcharge for additional port unloading

- May 15 - Argentina registered 201,200 MT of corn for export

- May 14 - Argentina registered 90,261 MT of corn for export

- May 11 - Saudi Arabia's SAGO (Saudi Grains Organisation) bought 1.5 MMT of feed barley of Australia, North and South America, EU and Black Sea origin at an average price of 228.61 $/mt c&f in 25 consignments for July-August shipment to the Red Sea ports (1.14 MMT) and the Gulf ports (360 TMT):

  • Red Sea Ports:
    • 60,000 MT from Glencore at 229.49 $/mt c&f (July 1-15);
    • 60,000 MT from Glencore at 230.49 $/mt c&f (July 1-15);
    • 60,000 MT from Louis Dreyfus at 230.94 $/mt c&f (July 1-15);
    • 60,000 MT from Glencore at 232.49 $/mt c&f (July 1-15);
    • 60,000 MT from Glencore at 233.49 $/mt c&f (July 1-15);
    • 60,000 MT from Glencore at 225.46 $/mt c&f (July 15-30);
    • 60,000 MT from Glencore at 225.80 $/mt c&f (July 15-30);
    • 60,000 MT from Glencore at 226.13 $/mt c&f (July 15-30);
    • 60,000 MT from Louis Dreyfus at 226.94 $/mt c&f (July 15-30);
    • 60,000 MT from Glencore at 226.98 $/mt c&f (July 15-30);
    • 60,000 MT from COFCO at 223.41 $/mt c&f (August 1-15);
    • 60,000 MT from Louis Dreyfus at 223.94 $/mt c&f (August 1-15);
    • 60,000 MT from Louis Dreyfus at 223.94 $/mt c&f (August 1-15);
    • 60,000 MT from Glencore at 227.99 $/mt c&f (August 1-15);
    • 60,000 MT from COFCO at 223.41 $/mt c&f (August 15-30);
    • 60,000 MT from Louis Dreyfus at 226.94 $/mt c&f (August 15-30);
    • 60,000 MT from Casillo at 227.23 $/mt c&f (August 15-30);
    • 60,000 MT from Louis Dreyfus at 227.94 $/mt c&f (August 15-30);
    • 60,000 MT from CBH Grain at 228.22 $/mt c&f (August 15-30)
  • Gulf Ports:
    • 60,000 MT from Glencore at 235.84 $/mt c&f (July 1-15);
    • 60,000 MT from Glencore at 230.72 $/mt c&f (July 15-30);
    • 60,000 MT from Glencore at 231.38 $/mt c&f (July 15-30);
    • 60,000 MT from Glencore at 231.71 $/mt c&f (August 1-15);
    • 60,000 MT from Glencore at 232.05 $/mt c&f (August 15-30);
    • 60,000 MT from Glencore at 232.38 $/mt c&f (August 15-30)

- US corn export inspections for week, ending May 10, reported 1,554,495 MT, within market expectations (1.4-1.8 MMT). Inspections for 2017/18 are running 14.8% behind of year-ago

- USDA said the US corn crop was 62% planted by May 13, above an average of analyst expectations for 59% but down compared to 68% last year and a 63% five-year average

- Informa Economics estimated US 2018 corn plantings at 89.0 million acres

- Ukrainian farmers have sown 4.2 million ha of corn or 91% of planned area as of May 16

- Ukraine’s Ag Min estimated early spring grain planting 94%, or 2.2 million ha done as of May 16, thereof:

  • 1.5 million ha of barley (or 93% of planned area);
  • 414,000 ha of peas (or 98%);
  • 185,000 ha of oats (or 91%);
  • 165,000 ha of wheat (or 94%)

- Germany's grain maize (corn) sowings increased by 7.4% to 463,000 hectares

- Germany's association of farm cooperatives upped its forecast of country’s 2018 corn crop to 4.3 MMT (4.27 MMT previous), a 2.6% drop from last year

- Germany's association of farm cooperatives forecasts the country’s 2018 winter barley crop at 8.74 MMT (9.09 MMT – previous forecast in April), down 3% from last year; and spring barley crop at 2.39 MMT (2.06 MMT – previous forecast), up 30.4% from 2017

- FranceAgriMer lowered its forecast for French corn stocks at the end of the 2017/18 to 2.698 MMT from 2.81 MMT in Apr, up vs. 1.95 MMT in 2016/17. France's 2017/18 corn exports are forecasted at 5.457 MMT (5.278 MMT – previous forecast) vs. 4.691 MMT a year ago

- FranceAgriMer upped its forecast of France's 2017/18 barley ending stocks to 1.124 MMT from 1.028 MMT in Apr and against 1.072 MMT in 2016/17. France's 2017/18 barley exports (without malt) is expected at 6.532 MMT (6.681 MMT – previous forecast) up 23.7% from 5.281 MMT a year ago

- France's farm ministry estimates France's 2018 grain maize area, excluding crop grown for seeds, at 1.376 million ha, unchanged versus 2017 but 11.9% below the average of the previous five years

- France's farm ministry projected lower barley sowings this year, pegging the total area at 1.859 mln ha, down 2.6% from 2017 but up 2.5% from five-year average

- UK exported 119,911 MT of barley in March, up from 62,134 MT in February and up 26% over last year’s level. Cumulative barley exports for 2017/18 totalled 951,709 MT compared to 880,794 MT in Jul-Mar 2016/17

- India estimated 2017/18 corn output at 26.88 MMT

SOYBEAN

- US soybean export inspections for week, ending May 10, reported 688,195 MT, topped trade estimates (450-650 TMT). Inspections for the 2017/18 marketing year are running 10.8% behind of year-ago

- USDA said 35% of the US soybean crop was planted as of May 13, exceeding market forecasts (26-33%) and compared to 29% last year and a 26% five-year average

- Informa Economics projected US 2018 soybean plantings at 89.4 million acres

- NOPA said its members crushed a record-large of 161.016 million bushels of soybeans during April, topped an average of trade expectations (160.966 million bu). NOPA processors crashed 171.858 mln bu in March and 139.134 mln bu a year ago. Soyoil stocks climbed to 2.092 billion lbs as of Apr 30 from 1.946 a month earlier and vs. last year’s level of 1.725 billion lbs, the largest month-end oil stocks figure since June 2013, also above the average expectations of 1.98 billion lbs. Soymeal exports rose to 946,291 tons from 878,582 tons in March and vs. 595,468 tons a year-ago

- Ukrainian farmers have sown 5.2 million ha of sunflower or 94% of planned area as of May 16

- Ukrainian farmers have sown 1.5 million ha of soybeans or 76% of planned area as of May 16

- Germany's winter rapeseed sown area for the 2018 harvest has been reduced by 3.4% to about 1.25 million hectares

- Germany's association of farm cooperatives trimmed Germany's 2018 winter rapeseed output forecast from 4.62 to 4.12 MMT this month, down 3.3% from 2017

- France's farm ministry estimated the total rapeseed area this year at 1.497 mln ha, up 6.3% from 2017 and about 1.1% above five-year average

- France's farm ministry estimates the area sown with sunseed will fall by 3.7% this year to 565,000 hectares, down 10.9% on the five-year average

- France's farm ministry estimates the area sown with soybean will rise another 1.1% this year to 143,000 hectares, up 37.2% on the five-year average

- India estimated the country's 2017/18 overall oilseed production at 30.6 MMT, incl. 10.9 MMT of soybeans and 8.04 MMT of rapeseed

- Surveyor AmSpec Agri Malaysia estimated Malaysia's May 1-15 palm oil exports at 539,084 MT down 14.9% from a month ago

- Surveyor SGS estimated Malaysia's May 1-15 palm oil exports at 550,961 MT down 13.7% from a month ago

- Malaysia will maintain its crude palm oil export tax at 5% in June, the same rate as the previous month. Malaysia calculated a reference price of 2,421.19 MYR/mt (611 $/mt) for June