WHEAT

- May 24 - Japan bought 96,870 MT of food wheat for June-July shipments:

  • 15,925 MT of western white US wheat;
  • 16,835 MT of dark northern spring US wheat;
  • 30,975 MT of hard red winter US wheat;
  • 33,135 MT of Canadian western red spring wheat

- India on Wednesday, May 23, raised the import duty from 20% to 30% on wheat with immediate effect

- May 24 - Argentina registered 1,109,300 MT of wheat for export

- May 23 - Argentina registered 495,392 MT of wheat for export

- May 21 - Jordan Silos & Supply General Company has made no purchase in an international tender for 50,000 MT of optional-origin milling wheat

- Weekly US wheat export sales data for week ended May 17 totalled 452,300 MT, incl. 112,300 MT for 2017/18 (topped trade expectations for -100-+100 TMT) and 340,000 MT for 2018/19 (within trade expectations for 100-400 TMT). Export commitments for 2017/18 are running 17% behind of year-ago

- Russia’s Ag Min said Russia exported 47.857 MMT of grain between July 1-May 23, 2017/18, up by 46% from 32.706 MMT a year ago, including:

  • wheat – 37.094 MMT (25.236 MMT in 2016/17);
  • barley – 5.372 MMT (2.673 MMT);
  • corn – 5.073 MMT (4.558 MMT)

- Russian Ag Min estimated spring grain planting 66.5% (or 20.64 million ha) done as of May 25 vs. 23.85 million ha a year ago. Russian farmers have sown 7.25 million ha of spring wheat or 56.1% of planned area vs. 9.63 million ha a year ago

- IKAR lowered its estimate for Russia's 2018 wheat crop to 69.5-77.5 MMT from the previously expected 73-80 MMT, and trimmed 2018/19 wheat export forecast to 34.3 MMT

- SovEcon cut its 2018 Russian wheat harvest forecast to 77 MMT from 78.2 MMT earlier

- SovEcon expects Russian wheat exports to reach 40.8 MMT in 2017/18 and 38 MMT in 2018/19. Total grain exports are expected to total 53.6 MMT in 2017/18 and 49.5 MMT in 2018/19

- Kazakh farmers planted 8.23 million ha of spring cereals crops as of May 26 vs. 9.03 million ha a year ago

- Argentina's Ag Min expects the country to plant 6.15 million hectares of wheat for the 2018/19, up 4.2% from 5.9 mln ha in 2017/18

- EU this season in period of July 1-May 22, 2017/18 exported 18.024 MMT of soft wheat compared to 22.532 MMT a year ago

- FranceAgriMer said 79% of France’s soft wheat crops were in good to excellent condition as of May 20, up 1% point from prior week and vs. 76% a year ago

- International Grains Council (IGC) raised its forecast for global wheat production in 2018/19 by 3.3 MMT to 742.3 MMT (758.2 MMT in 2017/18), mostly reflecting better perspectives for Argentina and Canada. Forecast of ending stocks was raised by 1.6 MMT to 258.4 MMT (261.6 MMT in 2017/18)

- Dubai-based trader AOS has failed to deliver to Egypt's GASC 120,000 MT of wheat previously contracted

CORN

- May 24 - USDA announced cancellations of export sales of 132,000 MT of US sorghum for delivery to unknown destinations during 2017/18

- May 25 - China sold 1,239,896 MT of corn from state reserves, or 31% of the offered amount, at average price of 1,419 RMB/mt (222 $/mt)

- May 24 - China sold 2,984,305 MT of corn from state reserves, or 74.9% of the offered amount, at average price of 1,498 RMB/mt (234 $/mt)

- May 24 - Argentina registered 1,231,020 MT of corn for export

- May 23 - Argentina registered 265,140 MT of corn for export

- May 24 - Argentina registered for export 30,000 MT of feed barley and 95,000 MT of malting barley

- Weekly US corn export sales data for week ended May 17 of 1,127,700 MT, incl. 854,300 MT for 2017/18 (within trade expectations of 0.7-1.1 MMT) and 273,400 MT for 2018/19 (topped expectations of 100-250 TMT). Export commitments for 2017/18 are running unchanged versus a year ago

- Agroconsult lowered its forecast of Brazil's second corn crop to 57 MMT, down more than 3 MMT from the previous estimate of 60.2 MMT

- Argentina's Ag Min expects the country to plant 980,000 hectares of barley for the 2018/19, down 2% from 1,000,000 ha in 2017/18

- Argentina's Ag Min cut estimate of sorghum production by 100,000 MT to 1.7 MMT, down 32.8% from 2016/17 (2.53 MMT). Forecast of sorghum exports in 2017/18 (Mar 2018-Feb 2019) was lowered by 100,000 MT to 200,000 MT (370,000 MT in 2016/17)

- Ukrainian farmers have sown 4.5 million ha of corn or 97% of planned area as of May 25

- Ukraine’s Ag Min estimated early spring grain planting 96%, or 2.3 million ha done as of May 25, thereof:

  • 1.5 million ha of barley (or 96% of planned area);
  • 418,000 ha of peas (or 99%);
  • 190,000 ha of oats (or 93%);
  • 167,000 ha of wheat (or 96%)

- Russian farmers have sown 6.2 million ha of spring barley or 81.2% of planned area as of May 25 vs. 6.4 million ha a year ago

- Russian farmers have sown 2.38 million ha of corn or 79.2% of planned area as of May 25 vs. 2.69 million ha a year ago

- EU this season in period of Jul 1-May 22, 2017/18 imported 15.401 MMT of corn (maize) vs. 10.692 MMT a year ago

- EU this season in period of Jul 1-May 22, 2017/18 exported 1.175 MMT of corn vs. 2.183 MMT a year ago

- EU this season in period of Jul 1-May 22, 2017/18 exported 5.025 MMT of barley vs. 4.948 MMT a year ago

- EU this season in period of Jul 1-May 22, 2017/18 exported 2.482 MMT of malt in barley equivalent vs. 2.615 MMT a year ago

- FranceAgriMer said 75% of France’s winter barley crops were in good to excellent condition as of May 20, compared with 75% a week earlier and vs. 67% a year ago. Spring barley rating was at 76% in good to excellent vs. 77% last week and vs. 77% a year ago

- FranceAgriMer estimated corn planting 94% done as of May 20 (86% a week-ago), behind of last year’s pace of 99%. Corn crop condition was estimated as 86% in good to excellent, down 1% point on the prior week and vs. the year-ago score of 87%

- IGC upped its forecast of the global corn crop in 2018/19 by 0.8 MMT to 1.055 billion tonnes (1.044 BMT in 2017/18), mostly reflecting better perspectives for Ukraine. IGC cut its forecast for 2018/19 global corn carryover by 4.5 MMT from March to 257.4 MMT vs. 300.4 MMT in 2017/18

- China's April 2018 barley imports rose 2.6% on year to 1.12 MMT. China's Jan-Apr barley imports fell 7% on year to 3.04 MMT

- China imported 640,000 MT of sorghum in April, up 87% on a year ago. China's Jan-Apr sorghum imports fell only 2% on year to 2.33 MT

- China bought 380,000 MT of corn in April, more than six times the 62,830 MT imported in March, having imported only 3,008 MT of corn in April 2017. China's Jan-Apr corn imports rose three times on year to 940,000 MT

- SAGIS estimated South Africa's corn stocks as of April 30 were at 3.695 MMT vs. 4.634 MMT a month ago and 1.095 MMT a year ago

- SAGIS estimated S. Africa's April corn exports at 213,612 MT. May-Apr 2017/18 exports rose 141.6% on year to 2.479 MMT

- SAGIS said that S. Africa didn’t import any corn in May-Apr 2017/18 compared to the 2.237 MMT imported in May-Apr 2016/17

SOYBEAN

- May 24 - Egypt’s GASC bought 30,000 MT of soybean oil from Bunge at 752 $/mt c&f (with facilities 180 days), also 28,000 MT of sunflower oil from Alex Co. (5.5 TMT) at 14,235 EGP/mt (795 $/mt) and Aston (22.5 TMT) at 798.3 $/mt c&f (with facilities 180 days) for July 16-31 arrival

- May 24 - Argentina registered for export 659,000 MT of soymeal and 71,000 MT of soybean oil

- May 23 - Argentina registered 283,300 MT of soymeal for export

- May 24 - Argentina registered for export 57,890 MT of sunflower oil and 40,000 MT of sunflower meal

- May 25 - USDA announced export sales of 477,000 MT of soybeans (165 TMT of optional origin and 312 TMT from the US) for delivery to China during 2018/19

- May 24 - USDA announced export sales of 264,000 MT of US soybeans for delivery to unknown destinations during 2018/19

- Weekly US soybeans export sales data for week ended May 17 totalled -132,600 MT, incl. net sales reductions of 139,500 MT for 2017/18 (within trade expectations for -200-+400 TMT) and 6,900 MT for 2018/19 (below trade expectations for 200-400 TMT). Export commitments for 2017/18 are running 5% behind of year-ago

- Weekly US soymeal export sales data for week ended May 17 of 196,900 MT, incl. 239,500 MT for 2017/18 (within trade expectations for 100-400 TMT) and net sales reduction of 42,600 MT for 2018/19 (below trade expectations for 0-100 TMT). Export commitments for 2017/18 are running 14% ahead of year-ago

- IGC raised its forecast for 2018/19 global soybean production by 1.1 MMT to 356.3 MMT (336 MMT in 2017/18). IGC upped global 2018/19 soybean carryover to 39.7 MMT (39.3 MMT in 2017/18), up by 200,000 MT from prior forecast

- Argentina may halt the incremental lowering of soybean export taxes as part the government's renewed deficit-cutting effort. The tax started the year at 30% and was to be reduced by a half percentage point every month for two years. The levy currently stands at 27.5%

- Argentina's Ag Min cut forecast of soybean production by 1 MMT to 36.6 MMT, down 33.5% from 2016/17 (55 MMT). Forecast of soybean exports in 2017/18 (Apr 2018-Mar 2019) was reduced by 1.5 MMT to 2.5 MMT (7.2 MMT in 2016/17)

- Argentina's Ag Min raised its estimate of sunflower seed crop in 2017/18 to 3.5 MMT from 3.38 MMT in Apr, down 1.4% from 3.55 MMT in 2016/17. Sunseed crush in 2017/18 (Jan-Dec 2018) revised upward by 0.1 MMT to 3.4 MMT vs. 3.35 MMT previous season

- EU this season in period of Jul 1-May 22, 2017/18 imported 11.9 MMT of soybeans vs. 12.616 MMT a year ago

- EU this season in period of Jul 1-May 22, 2017/18 imported 16.471 MMT of soymeal vs. 15.953 MMT a year ago

- EU this season in period of Jul 1-May 22, 2017/18 imported 3.756 MMT of rapeseed vs. 4.034 MMT a year ago

- EU this season in period of Jul 1-May 22, 2017/18 imported 476,133 MT of sunflowerseed vs. 770,480 MT a year ago

- EU this season in period of Jul 1-May 22, 2017/18 imported 3.327 MMT of sunflower meal vs. 3.188 MMT a year ago

- EU this season in period of Jul 1-May 22, 2017/18 imported 1.453 MMT of sunflower oil vs. 1.295 MMT a year ago

- EU this season in period of Jul 1-May 22, 2017/18 imported 5.587 MMT of palm oil vs. 5.466 MMT a year ago

- Russian farmers have sown 6.68 million ha of sunflower or 88.3% of planned area as of May 25 vs. 6.28 million ha a year ago

- Russian farmers have sown 1.85 million ha of soybeans or 68.2% of planned area as of May 25 vs. 1.65 million ha a year ago

- Ukrainian farmers have sown 5.5 million ha of sunflower or almost 100% of planned area as of May 25

- Ukrainian farmers have sown 1.6 million ha of soybeans or 85% of planned area as of May 25

- Surveyor AmSpec Agri Malaysia estimated Malaysia's May 1-25 palm oil exports at 983,656 MT down 16.6% from a month ago

- Surveyor SGS estimated Malaysia's May 1-25 palm oil exports at 1,003,696 MT down 13.5% from a month ago

- GAPKI estimated Indonesia's March exports of palm oil and palm kernel oil at 2.4 MMT, up 1.3% from the previous month but down 2.8% compared to March 2017