WHEAT

- May 31 - Algeria's OAIC bought around 100,000-200,000 MT of wheat in a tender at 229-230 $/mt c&f for shipment in first half of July

- May 31 - Argentina registered 80,290 MT of wheat for export

- Thai flour mills bought about 90,000 MT of wheat in recent deals for August shipment: 45 TMT of Canadian Western Red Spring wheat, 13.5% protein, at 269 $/mt c&f and 45 TMT of Australian Premium Wheat, 10.5% protein, at 272 $/mt c&f

- UN recently bought 100,000 MT of Black Sea wheat for donation to Yemen, Berbera and Djibouti for arrival up to early August

- Egypt has rejected a Russian wheat cargo (63,000 MT), sold to state grain buyer GASC, contained 0.06% ergot, just above the 0.05% limit

- Egypt has enough strategic wheat reserves to cover 5 months' needs

- Weekly US wheat export sales data for week ended May 24 totalled 300,400 MT, incl. 29,500 MT for 2017/18 (within trade expectations for -100-+100 TMT) and 270,900 MT for 2018/19 (within trade expectations for 150-450 TMT). Export commitments for 2017/18 are running 16% behind of year-ago

- Russia’s Ag Min said Russia exported 49.015 MMT of grain between July 1-May 30, 2017/18, up by 47.4% from 33.248 MMT a year ago, including:

  • wheat – 38.074 MMT (25.61 MMT in 2016/17);
  • barley – 5.444 MMT (2.69 MMT);
  • corn – 5.166 MMT (4.701 MMT)

- Russian Ag Min estimated spring grain planting 78.6% (or 24.38 million ha) done as of June 1 vs. 28.28 million ha a year ago. Russian farmers have sown 9.43 million ha of spring wheat or 73% of planned area vs. 12.31 million ha a year ago

- Russian grain stocks were at 26.8 MMT as of May 1, 2018, up 12.9% from a year earlier (23.7 MMT as of May 1, 2017). The data does not include grain stored at small farms

- Kazakh farmers planted 12.17 million ha of spring cereals crops as of June 2 vs. 13.26 million ha a year ago

- EU this season in period of July 1-May 29, 2017/18 exported 18.588 MMT of soft wheat compared to 22.788 MMT a year ago

- European Commission (EC) cut its forecast of 2018 EU soft wheat crop by around 1.2 MMT to 140.25 MMT vs. 141.76 MMT last year. EU's executive kept its forecast of 2018/19 EU soft wheat exports at 27 MMT, while cut its estimate for current season by 2 MMT to 21 MMT. Soft wheat inventories in the region are forecasted at 16.04 MMT by the end of June 2019 vs. 18.05 MMT estimated for 2017/18

- FranceAgriMer said 80% of France’s soft wheat crops were in good to excellent condition as of May 27, up 1% point from prior week and vs. 75% a year ago

CORN

- Jun 1 - South Korea's KFA (Korea Feed Association) bought 60,000 MT of optional-origin corn from CHS at 222.94 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for Sept 20 arrival

- May 31 - South Korea's Feed Leaders Committee (FLC) bought around 65,000 MT of optional-origin corn from Bunge at 220.4 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for Sept 20 arrival

- May 31 - South Korea's Nonghyup Feed Inc. (NOFI) bought 69,000 MT of optional-origin corn from Bunge at around 220 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for Sept 25 arrival

- May 31 - South Korea’s Major Feedmill Group (MFG) purchased about 139,000 MT of optional-origin corn:

  • 69 TMT of corn from Bunge at 220.83 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for Sept 15 arrival,
  • 70 TMT of corn from MSK at 220.58 $/mt c&f + 1.00 $/mt surcharge for additional port unloading for Sept 26 arrival

- May 31 - South Korea's KOCOPIA bought 120,000 MT of optional-origin corn:

  • 60,000 MT, likely from the US, from Pan Ocean at 226.73 $/mt c&f including a surcharge for additional port unloading for Sept 5 arrival,
  • 60,000 MT from Concordia at 225.20 $/mt c&f including a surcharge for additional port unloading for Sept 25 arrival

- May 30 - South Korea’s Major Feedmill Group (MFG) purchased about 69,000 MT of South American corn from Cargill at 221.93 $/mt c&f + 2.5 $/mt surcharge for additional port unloading for Aug 24 arrival

- May 31 - Argentina registered 290,000 MT of corn for export

- Jun 1 - China sold 1,328,539 MT of corn from state reserves, or 32.8% of the offered amount, at average price of 1,422 RMB/mt (222 $/mt)

- May 31 - China sold 2,422,095 MT of corn from state reserves, or 61.7% of the offered amount, at average price of 1,498 RMB/mt (234 $/mt)

- Weekly US corn export sales data for week ended May 24 of 1,142,400 MT, incl. 993,100 MT for 2017/18 (near the upper end of trade expectations for 0.7-1.0 MMT) and 149,300 MT for 2018/19 (near the lower end of expectations of 150-350 TMT). Export commitments for 2017/18 are running 1% ahead of year-ago

- Brazil’s Trade Ministry reported May corn exports at 56,890 MT, down from 114,890 MT in April and vs. 309,986 MT in the year-ago month

- EU in week ended May 25 awarded licenses to import 7,500 MT of Ukrainian barley under an annual duty-free quota. The award meant that the EU had now awarded 17% (104,465 MT) out of a total volume of 615,000 MT available in 2018

- EU this season in period of Jul 1-May 29, 2017/18 imported 15.794 MMT of corn (maize) vs. 11.242 MMT a year ago

- EU this season in period of Jul 1-May 29, 2017/18 exported 1.186 MMT of corn vs. 2.224 MMT a year ago

- EU this season in period of Jul 1-May 29, 2017/18 exported 5.098 MMT of barley vs. 5.042 MMT a year ago

- EU this season in period of Jul 1-May 29, 2017/18 exported 2.563 MMT of malt in barley equivalent vs. 2.661 MMT a year ago

- EC slightly trimmed forecast of 2018 EU corn harvest to 63.91 MMT (65.37 MMT in 2017). EC forecasts EU 2018/19 corn imports at 13.3 MMT vs. 16.4 MMT (15 MMT previously) in 2017/18 and ending stock at 21.7 MMT vs. 22.94 MMT current season

- EC lowered its forecast of 2018 EU barley harvest by 310,000 MT to 61 MMT vs. 58.72 MMT in 2017. EC forecasts EU 2018/19 barley exports at 10.07 MMT (10.49 MMT previously) vs. 8.0 MMT in 2017/18 and ending stock at 6.93 MMT vs. 5.87 MMT current season

- FranceAgriMer said 75% of France’s winter barley crops were in good to excellent condition as of May 27, compared with 75% a week earlier and vs. 66% a year ago. Spring barley rating was at 77% in good to excellent vs. 76% last week and vs. 76% a year ago

- FranceAgriMer estimated corn planting 98% done as of May 27 (94% a week-ago), behind of last year’s pace of 100%. Corn crop condition was estimated as 84% in good to excellent, down 2% points on the prior week and vs. the year-ago score of 86%

- Ukrainian farmers have sown 4.5 million ha of corn or 99% of planned area as of June 1

- Ukraine’s Ag Min estimated early spring grain planting 97%, or 2.3 million ha done as of June 1, thereof:

  • 1.5 million ha of barley (or 96% of planned area);
  • 419,000 ha of peas (or 100%);
  • 191,000 ha of oats (or 93%);
  • 168,000 ha of wheat (or 96%)

- Russian farmers have sown 6.76 million ha of spring barley or 88.5% of planned area as of June 1 vs. 6.98 million ha a year ago

- Russian farmers have sown 2.5 million ha of corn or 82.9% of planned area as of June 1 vs. 2.85 million ha a year ago

SOYBEAN

- May 31 - Argentina registered for export 136,099 MT of soymeal and 77,000 MT of soybeans

- Weekly US soybeans export sales data for week ended May 24 totalled 1.045 MMT, incl. 273,400 MT for 2017/18 (below trade expectations for 300-600 TMT) and 771,600 MT for 2018/19 (topped trade expectations for 350-750 TMT). Export commitments for 2017/18 are running 5% behind of year-ago

- Weekly US soymeal export sales data for week ended May 24 of 143,000 MT, incl. 140,700 MT for 2017/18 (within trade expectations for 100-400 TMT) and 2,300 MT for 2018/19 (within trade expectations for 0-50 TMT). Export commitments for 2017/18 are running 14% ahead of year-ago

- USDA estimated US April soybean crush for crude oil at 5.149 million short tons, a 5.8% decrease from March, but above last year level (4.509 mln tons in Apr 2017) and in line with average market expectation (5.15 mln tons). Crude soyoil stocks rose to 2.316 billion lbs as of Apr 30 from 2.08 in Mar, above the 1.848 bln lbs a year ago, while refined oil stocks were at 372.584 million lbs as of Apr 30 vs. 364.344 in Feb and 391.625 in Apr 2017. Apr US soy cake and meal stocks were at 404,468 tons vs. 492,224 in Mar and vs. 387,207 tons a year-ago

- Brazil’s Trade Ministry reported May soybean exports at 12.353 MMT, up from 10.259 MT in April and vs. the 10.96 MMT a year ago. Also Brazil exported 1.653 MMT of soymeal in May versus 1.553 MMT the month before and 1.63 MMT a year ago; and 123,885 MT of soyoil compared to 164,442 MT in April and 112,602 MT a year ago

- EU this season in period of Jul 1-May 29, 2017/18 imported 12.224 MMT of soybeans vs. 12.755 MMT a year ago

- EU this season in period of Jul 1-May 29, 2017/18 imported 16.879 MMT of soymeal vs. 16.444 MMT a year ago

- EU this season in period of Jul 1-May 29, 2017/18 imported 3.887 MMT of rapeseed vs. 4.254 MMT a year ago

- EU this season in period of Jul 1-May 29, 2017/18 imported 491,078 MT of sunflowerseed vs. 779,551 MT a year ago

- EU this season in period of Jul 1-May 29, 2017/18 imported 3.419 MMT of sunflower meal vs. 3.262 MMT a year ago

- EU this season in period of Jul 1-May 29, 2017/18 imported 1.474 MMT of sunflower oil vs. 1.355 MMT a year ago

- EU this season in period of Jul 1-May 29, 2017/18 imported 5.671 MMT of palm oil vs. 5.544 MMT a year ago

- EC cut its forecast of 2018 EU rapeseed harvest by 0.9 MMT to 21.67 MMT, down 1.3% from 21.96 MMT in 2017

- EC lowered its forecast of 2018 EU sunflower seed crop from 9.9 MMT to 9.73 MMT, down 6.2% from 10.37 MMT in 2017

- EC upped its forecast of 2018 EU soybean harvest from 2.75 MMT to 2.81 MMT, up 7.2% from 2017 (2.62 MMT)

- Russian farmers have sown 7.43 million ha of sunflower or 98.2% of planned area as of June 1 vs. 6.91 million ha a year ago

- Russian farmers have sown 2.32 million ha of soybeans or 85.4% of planned area as of June 1 vs. 2.02 million ha a year ago

- Russian farmers have sown 1.16 million ha of rapeseed or 110% of planned area as of June 1 vs. 815,400 ha a year ago

- Ukrainian farmers have sown 5.6 million ha of sunflower or almost 101% of planned area as of June 1

- Ukrainian farmers have sown 1.7 million ha of soybeans or 88% of planned area as of June 1

- Egypt has sufficient vegetable oils reserves to cover 3.7 months' needs

- Surveyor AmSpec Agri Malaysia estimated Malaysia's May 1-31 palm oil exports at 1,196,805 MT down 8.8% from a month ago

- Surveyor SGS estimated Malaysia's May 1-31 palm oil exports at 1,199,876 MT down 9.9% from a month ago