WHEAT

- Jul 2 - Syria's Hoboob is seeking 200,000 MT of soft wheat from Russia, Romania or Bulgaria for Aug-Sept shipment

- Jun 14 - Iraq purchased 100,000 MT of Australian hard wheat from CBH at 313.75 $/mt c&f. The tender had closed on June 10 with offers remaining valid until June 14

- Jun 15 - Japan's farm ministry has suspended its tender and sale of wheat from Canada after grain containing a genetically modified trait was discovered last summer in Canada's Alberta province. The Canadian Food Inspection Agency (CFIA) said on Thursday, Jun 14, the wheat containing a genetically modified trait, developed by Monsanto Co to tolerate the Roundup weed-killer, was discovered in Alberta

- Jun 14 - Japan was seeking 131,070 MT of food wheat for August shipments:

  • 16,785 MT of western white US wheat;
  • 62,845 MT of hard red winter US wheat;
  • 23,430 MT of Canadian western red spring wheat;
  • 28,010 MT of Australian standard white wheat

- Jun 13 - Jordan has made no purchase in an international tender for 120,000 MT of optional-origin milling wheat and re-tender on June 27

- Jun 15 - Argentina registered 112,240 MT of wheat for export

- Jun 12 - Argentina registered 160,196 MT of wheat for export

- Jun 13 - China sold 238,108 MT of wheat from state reserves or 11.6% of the offered amount at auction at average price of 2,409 RMB/mt (376 $/mt)

- Jun 11 - China sold 50,480 MT of wheat from state reserves or 5% of the offered amount at auction at average price of 2,671 RMB/mt (417 $/mt)

- Jun 12 - Egypt's GASC bought 420,000 MT of wheat from Russia (300 TMT) and Romania (120 TMT) for July 15-25 delivery:

  • 120,000 MT of Romanian wheat from Ameropa at 224.02 $/mt c&f (210.0 fob+14.02 freight),
  • 60,000 MT of Russian wheat from GTCS at 224.50 $/mt c&f (210.0 fob+14.50 freight),
  • 180,000 MT of Russian wheat from GTCS at 224.64 $/mt c&f (209.5 fob+15.14 freight),
  • 60,000 MT of Russian wheat from Daewoo at 224.64 $/mt c&f (209.5 fob+15.14 freight)

- Weekly US wheat export sales data for week ended Jun 7 totalled 302,300 MT for 2018/19 (within trade expectations for 150-450 TMT). Export commitments for 2018/19 are running 35% behind of year-ago

- US wheat export inspections for week, ending Jun 7, recorded 369,969 MT, below trade expectations. Inspections for 2018/19 are running 58.3% behind of year-ago

- USDA rated 38% of the US winter wheat crop in good to excellent condition as of June 10, up 1% point from prior week, but down vs. 50% a year ago. USDA said the US winter wheat harvest was 14% complete, lagging the last year’s 16% but ahead of the five-year average of 10%. USDA rated 70% of the US spring wheat crop in good-to-excellent condition as of June 10, unchanged from prior week but significantly up compared to 45% a year-ago

- Informa Economics projected US all-wheat plantings for 2018 harvest at 46.939 million acres, including 32.708 million acres of winter wheat, 12.177 million acres of spring wheat other than durum, and 2.054 million acres of durum wheat. Informa pegged US all-wheat production at 1.844 billion bushels (50.19 MMT)

- USDA upped its forecast of the total US wheat crop for the 2018/19 marketing year to 1.827 billion bushels, above the average analyst estimate for 1.822 billion and up 5% from the prior year

- USDA pegged US wheat ending stocks for the 2017/18 crop year at 1.08 billion bushels (1.079 – average trade estimates) and projected the 2018/19 carryout at 946 million bushels (958 million bushels – average estimates)

- USDA lowered its forecast of global wheat production by 3 MMT to 744.7 MMT, down 1.8% (or 13.5 MMT) from the 2017/18 record, mainly on a lower crop for Russia. Consumption is forecast to exceed production for the first time in 6 years.

- USDA raised forecast of 2018/19 world wheat inventories by 1.8 MMT to 266.16 MMT, above average expectation of 263 MMT and vs. 272.37 MMT in 2017/18

- ABARES cut forecast of 2018/19 Australian wheat crop to 21.9 MMT from 23.74 MMT in March, up 3.1% from 21.24 MMT in 2017/18

- Russia’s Ag Min said Russia exported 50.525 MMT of grain between July 1- June 13, 2017/18, up by 47.4% from 34.278 MMT a year ago, including:

  • wheat – 39.052 MMT (26.292 MMT in 2016/17);
  • barley – 5.642 MMT (2.812 MMT);
  • corn – 5.48 MMT (4.91 MMT)

- Russian Ag Min estimated spring grain planting 94.6% (or 29.36 million ha) done as of June 15 vs. 30.78 million ha a year ago. Russian farmers have sown 12.1 million ha of spring wheat or 93.6% of planned area vs. 13.08 million ha a year ago

- Kazakh farmers planted 14.24 million ha of spring cereals crops as of June 16 vs. 14.39 million ha a year ago

- Ukraine's Ag Min said Ukraine exported 38.2 MMT of grain between July 1-June 13 2017/18 vs. 42.4 MMT for the same period last season, including:

  • wheat – 16.6 MMT (17.1 MMT a year ago);
  • corn – 17.1 MMT (19.7 MMT);
  • barley – 4.2 MMT (5.3 MMT)

- EU this season in period of July 1-Jun 12, 2017/18 exported 19.154 MMT of soft wheat compared to 23.258 MMT a year ago

- Strategie Grains lowered its forecast for EU soft wheat exports in 2018/19 to 22.7 MMT, down 900,000 MT from last month, still well above a nearly unchanged estimate of 20.4 MMT for the current 2017/18. Strategie Grains cut its EU 2018 soft wheat crop forecast from 140.8 to 139.9 MMT, 1% below 2017/18

- Coceral cut its forecast of EU-28’s 2018 soft wheat crop to 138.782 MMT from 140.527 MMT previously, down from 141.627 MMT in 2017

- FranceAgriMer said 76% of France’s soft wheat crops were in good to excellent condition as of June 10, down 3% points from prior week and vs. 74% a year ago

- FranceAgriMer lifted its forecast for French soft wheat stocks at the end of the 2017/18 to 2.556 MMT from 2.527 MMT projected last month (2.944 MMT in 2016/17). Projected exports outside the EU was kept at 8.4 MMT, up 69% from 4.971 MMT in 2016/17, while forecast of shipments within the EU was lowered from 9.072 to 9.027 MMT, up 44.2% from 6.259 MMT in 2016/17

- Iraq has bought 1.75 MMT of domestic wheat so far this season, well below a trade ministry target of 2.5 MMT. The local wheat purchasing season, which began on April 16, is expected to last until the end of June

- Iraq has banned farmers from planting rice and other water-intensive crops in the face of increasing shortages

- Conab lowered its forecast for 2018 wheat production to 4.857 MMT from 4.872 MMT in May and compared to 4.264 MMT last year. They forecast wheat imports this year at 6.5 MMT (6.1 MMT in 2017)

CORN

- Jun 15 - South Korea's Nonghyup Feed Inc. (NOFI) bought 70,000 MT of optional-origin corn from CJ International at 212.52 $/mt c&f + 1.2 $/mt surcharge for additional port unloading for Nov 10 arrival

- Jun 15 - South Korea's KFA (Korea Feed Association) bought 60,000 MT of optional-origin corn from Bunge at 212.92 $/mt c&f + 1.5 $/mt surcharge for additional port unloading for Nov 5 arrival

- Jun 15 - China sold 779,680 MT of corn from state reserves, or 19.45% of the offered amount, at average price of 1,409 RMB/mt (220 $/mt)

- Jun 14 - China sold 1,681,407 MT of corn from state reserves, or 42.4% of the offered amount, at average price of 1,504 RMB/mt (235 $/mt)

- Jun 13 - Japan received no offers for 120,000 MT of feed wheat and 200,000 MT of feed barley in a simultaneous buy and sell (SBS) auction. New SBS tender for the same amounts for each grain will be held on Jun 20

- Jun 12 - South Korea’s Major Feedmill Group (MFG) purchased about 70,000 MT of optional-origin corn from CJ International at 213.77 $/mt c&f including a surcharge for additional port unloading for Nov 9 arrival

- Jun 12 - Jordan has made no purchase in an international tender for 120,000 MT of optional-origin feed barley and re-tender on June 26

- Jun 15 - Argentina registered 392,000 MT of corn for export

- Jun 11 - Argentina registered 125,000 MT of feed barley for export

- Jun 12 - USDA announced export sales of 152,000 MT of US corn for delivery to Mexico during 2017/18 (114 TMT) and 2018/19 (38 TMT)

- Weekly US corn export sales data for week ended Jun 7 of 1,176,600 MT, incl. 936,400 MT for 2017/18 (topped trade expectations for 600-900 TMT) and 240,200 MT for 2018/19 (within expectations of 200-400 TMT). Export commitments for 2017/18 are running 3% ahead of year-ago

- US corn export inspections for week, ending Jun 7, reported 1,408,902 MT, within market expectations (1 -1.7 MMT). Inspections for 2017/18 are running 9.8% behind of year-ago

- USDA rated 77% of the country’s corn in good or excellent condition as of June 10, down 1% point from prior week and behind of analysts’ expectation of 78%, but considerably better than last year’s 67%

- Informa Economics lowered its forecast of US 2018 corn plantings to 88.706 million acres, from 89 million previously. Informa forecast 2018 corn production at 14.216 billion bushels (361.1 MMT)

- USDA's forecasts of US corn ending stocks for both 2017/18 and 2018/19 came in below the average trade expectations

- USDA lowered forecast of global corn production in 2018/19 by 3.6 MMT to 1,052 MMT, up 1.7% (or 17.6 MMT) from last year, primarily driven by a smaller crop for Russia. Global trade is forecast lower this month with smaller imports for Iran and Vietnam, where Russia is a major supplier

- USDA cut forecast of 2018/19 global corn ending stocks by 4.5 MMT to 154.69 MMT, down from 192.69 MMT in 2017/18 and below an average of trade expectations (157.56 MMT)

- Conab lowered its forecast of Brazil's 2017/18 corn crop to 85.004 MMT from 89.208 MMT in May, but less than 97.843 MMT last season with second crop at 58.216 MMT (67.381 MMT in 2016/17). Conab kept its forecast for Brazil corn exports at 32 MMT (30.837 MMT in 2016/17). Ending stocks are forecasted at 10.905 MMT vs. 17.247 MT in 2016/17

- ABARES forecasts 2018/19 Australian barley crop at 9.2 MMT, up 3% from 8.93 MMT in 2017/18

- EU this season in period of Jul 1-Jun 12, 2017/18 imported 16.42 MMT of corn (maize) vs. 11.955 MMT a year ago

- EU this season in period of Jul 1-Jun 12, 2017/18 exported 1.277 MMT of corn vs. 2.293 MMT a year ago

- EU this season in period of Jul 1-Jun 12, 2017/18 exported 5.267 MMT of barley vs. 5.096 MMT a year ago

- EU this season in period of Jul 1-Jun 12, 2017/18 exported 2.69 MMT of malt in barley equivalent vs. 2.813 MMT a year ago

- Strategie Grains kept its forecast of EU's 2018/19 corn production at 60.9 MMT, up 3% from last year

- Strategie Grains upped its forecast of EU's 2018/19 barley production from 62.2 to 62.5 MMT, up 7% from last year

- Coceral lowered its forecast of EU-28’s 2018 corn crop to 60.285 MMT from 61.785 MMT previously, still up from 59.895 MMT in 2017

- Coceral upped its forecast of EU-28’s 2018 barley crop to 60.818 MMT from 60.342 MMT previously, up from 58.14 MMT in 2017

- France's farm ministry forecasts the country's 2018 winter barley crop at 9.093 MMT, up 0.2% from last year and 4.9% above five-year average

- FranceAgriMer said 74% of France’s winter barley crops were in good to excellent condition as of June 10, compared with 75% a week earlier and vs. 65% a year ago. Spring barley rating was at 77% in good to excellent vs. 78% last week and vs. 73% a year ago

- FranceAgriMer estimated corn planting 98% done as of June 10 (98% a week-ago), behind of last year’s pace of 100%. Corn crop condition was estimated as 74% in good to excellent, down 3% points on the prior week and vs. the year-ago score of 86%

- FranceAgriMer raised its forecast for French corn stocks at the end of the 2017/18 to 2.841 MMT from 2.698 MMT in May (1.95 MMT in 2016/17). France's 2017/18 corn exports are forecasted at 5.422 MMT (5.457 MMT – previous forecast) vs. 4.691 MMT a year ago

- FranceAgriMer upped its forecast of France's 2017/18 barley ending stocks to 1.403 MMT from 1.124 MMT in May and against 1.072 MMT in 2016/17. France's 2017/18 barley exports (without malt) is expected at 6.259 MMT (6.532 MMT – previous forecast) up 18.5% from 5.281 MMT a year ago

- French grain group Soufflet will build a malting factory in Ethiopia, its first project in Africa

- Farmers from Ukraine's southern regions have harvested 110,100 MT of grain (incl. 108 TMT of barley and 1.3 TMT of peas) from the 2018 harvest and the yield averaged 3.23 mt/ha, as of June 15

- Russian farmers have sown 7.67 million ha of spring barley or 100.4% of planned area as of June 15 vs. 7.46 million ha a year ago

- Russian farmers have sown 2.58 million ha of corn or 85.7% of planned area as of June 15 vs. 2.98 million ha a year ago

SOYBEAN

- Soybean futures fell sharply on Friday as China laid out plans for tariffs on American exports of the crop. An additional 25% tariff will have levy on about $50 billion of US imports, China’s Ministry of Finance said Saturday in a statement on its website. Tariffs on about $34 billion of those imports will start July 6, covering agricultural products including: soy, corn, wheat, rice, sorghum, beef, pork, poultry, fish, dairy products, nuts and vegetables.

- Jun 15 - South Korea's NOFI has purchased about 60,000 MT of South American soymeal from CJ International at 436.60 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for Nov 20 arrival

- Jun 14 - China sold 192,324 MT of soybeans from state reserves, or 64% of the offered amount, at average price of 3,043 RMB/mt (476 $/mt)

- Jun 15 - Argentina registered for export 108,272 MT of soymeal and 54,864 MT of soybean oil

- Jun 14 - Argentina registered for export 106,000 MT of soymeal and 45,225 MT of soybean oil

- Jun 12 - Argentina registered for export 99,525 MT of soymeal and 41,500 MT of soybeans

- Jun 13 - USDA announced export sales of 177,000 MT of US soybeans for delivery to unknown destinations during 2017/18 (5 TMT) and 2018/19 (172 TMT)

- Weekly US soybeans export sales data for week ended Jun 7 totalled 810,600 MT, incl. 519,600 MT for 2017/18 (topped trade expectations for 100-400 TMT) and 291,000 MT for 2018/19 (within trade expectations for 100-400 TMT). Export commitments for 2017/18 are running 5% behind of year-ago

- Weekly US soymeal export sales data for week ended Jun 7 of 97,900 MT, incl. 74,600 MT for 2017/18 (within trade expectations for 50-250 TMT) and 23,300 MT for 2018/19 (within trade expectations for 0-150 TMT). Export commitments for 2017/18 are running 13% ahead of year-ago

- US soybean export inspections for week, ending Jun 7, reported 644,327 MT, near the upper end of trade estimates. Inspections for the 2017/18 marketing year are running 8.1% behind of year-ago

- USDA said 93% of the US soybean crop was planted as of June 10, behind of market forecasts, but ahead of 91% last year and an 85% five-year average. USDA rated 74% of the country’s soybeans in good or excellent condition, down 1% point from prior week and behind of analyst expectations (75%), but considerably better than last year’s 66%

- Informa Economics raised its forecast for 2018 US soybean plantings to 89.902 million acres, from 89.4 million previously. Informa forecast US 2018 soybean production at 4.409 billion bushels (120 MMT), a record high if realized

- NOPA said its members crushed a record-large of 163.572 million bushels of soybeans during May, below an average of trade expectations (165.089 million bu). NOPA processors crashed 161.016 mln bu in April and 152.28 mln bu a year ago. Soyoil stocks fell to 1.856 billion lbs as of May 31 from 2.092 a month earlier, well below the average expectations of 2.119 billion lbs and vs. last year’s level of 1.994 billion lbs. Soymeal exports decrease to 904,941 tons from 946,291 tons in April and vs. 682,500 tons a year-ago

- USDA lowered forecast of US 2018/19 soy ending stocks to 385 million bushels, below the average pre-report trade estimate of 417 million

- USDA raised forecast of global soybean production in 2018/19 by 700,000 MT to a record 355.2 MMT, up 5.5% (or 18.5 MMT) from last year, as gains in Brazil more than offset reductions for Ukraine

- USDA upped forecast of 2018/19 global soybean ending stocks by 318,000 MT to 87.02 MMT, above average expectation of 86.74 MMT (92.49 MMT in 2017/18)

- Conab raised its forecast of Brazil's 2017/18 soy output to a new record of 118.048 MMT from 116.996 MMT in May and compared to previous crop of 114.075 MMT. Conab raised its forecast of Brazil’s soybeans export by 3 MMT to 72 MMT (68.155 MMT in 2016/17). Ending stocks are forecasted to fall to 0.651 MMT from 1.603 MMT in 2016/17

- Jun 14 - India’s government raised import tax on crude and refined soft oil to the highest level in more than a decade. India raised import tax on crude soyoil to 35% from 30%, and on crude canola oil and sunflower oil to 35% from 25%. Import duty on refined soyoil, canola oil and sunflower oil was raised to 45% from 35%

- India imported 1.286 MMT of veg oils (edible & non-edible) in May vs. 1.386 MMT in Apr, down 7% from 1.384 MMT a year ago

- India imported 8.393 MMT of edible veg oils in Nov-May 2017/18, up 0.9% from the 2016/17 (8.322 MMT)

- India imported 331,592 MT of crude palm oil in May vs. 556,822 MT in April and vs. 492,440 MT a year ago. India's Nov-May 2017/18 crude palm oil imports at 3.867 MMT vs. 3.399 MMT a year ago

- India imported 157,832 MT of RBD palmolein in May vs. 209,772 MT in April and vs. 294,409 MT a year ago. India's Nov-May 2017/18 RBD palmolein imports at 1.138 MMT vs. 1.662 MMT a year ago

- India imported 396,969 MT of soybean oil in May vs. 264,750 MT in April and vs. 340,365 MT a year ago. India's Nov-May 2017/18 soybean oil imports at 1.489 MMT vs. 1.69 MMT a year ago

- India imported 330,985 MT of sunflower oil in May vs. 294,450 MT in April and vs. 154,938 MT a year ago. India's Nov-May 2017/18 sunflower oil imports at 1.65 MMT vs. 1.34 MMT a year ago

- India's stock of edible oils at various ports and in pipelines as of June 1, 2018 rose to 2.662 MMT from 2.338 MMT a month ago and vs. the last year's 2.16 MMT. India's monthly requirement is about 1.9 MMT

- Russian farmers have sown 7.83 million ha of sunflower or 103.5% of planned area as of June 9 vs. 7.51 million ha a year ago

- Russian farmers have sown 2.69 million ha of soybeans or 99.3% of planned area as of June 15 vs. 2.38 million ha a year ago

- Russian farmers have sown 1.35 million ha of rapeseed or 128.3% of planned area as of June 15 vs. 860,900 ha a year ago

- EU this season in period of Jul 1-Jun 12, 2017/18 imported 13.026 MMT of soybeans vs. 13.341 MMT a year ago

- EU this season in period of Jul 1-Jun 12, 2017/18 imported 17.745 MMT of soymeal vs. 17.238 MMT a year ago

- EU this season in period of Jul 1-Jun 12, 2017/18 imported 4.072 MMT of rapeseed vs. 4.621 MMT a year ago

- EU this season in period of Jul 1-Jun 12, 2017/18 imported 519,865 MT of sunflowerseed vs. 792,076 MT a year ago

- EU this season in period of Jul 1-Jun 12, 2017/18 imported 3.553 MMT of sunflower meal vs. 3.437 MMT a year ago

- EU this season in period of Jul 1-Jun 12, 2017/18 imported 1.57 MMT of sunflower oil vs. 1.51 MMT a year ago

- EU this season in period of Jul 1-Jun 12, 2017/18 imported 5.88 MMT of palm oil vs. 5.858 MMT a year ago

- Coceral cut its forecast of 2018 EU-28 rapeseed harvest from 22.006 MMT to 20.963 MMT, down from 21.994 MMT in 2017

- Coceral upped forecast of 2018 EU-28 sunflower crop from 8.627 MMT to 8.772 MMT, down 9% from 9.636 MMT in 2017

- Coceral lowered forecast of 2018 EU-28 soybean crop from 2.985 MMT to 2.828 MMT, up 4.4% from 2.709 MMT in 2017

- France's farm ministry forecasts the country's 2018 winter rapeseed output at 4.889 MMT, down 9.1% from last year and 3.4% below five-year average

- Jun 14 - EU negotiators agreed to phase out the use of palm oil in transport fuels from 2030

- Malaysia will maintain its crude palm oil export tax at 5% in July, the same rate as the previous month. Malaysia calculated a reference price of 2,407.2 MYR/mt for July

- MPOB estimated Malaysian crude palm oil production in May at 1.525 MMT, above average expectation of 1.49 MMT but down 2% from 1.558 MMT in April. Malaysia's palm oil stocks at end-May fell 0.5% from the previous month to 2.17 MMT but above the average market expectation of 2.091 MMT. Malaysian May palm oil exports fell by 15.7% to 1.291 MMT, below average expectation of 1.4 MMT

- Surveyor AmSpec Agri Malaysia estimated Malaysia's June 1-10 palm oil exports at 324,947 MT down 20% from a month ago

- Surveyor SGS estimated Malaysia's June 1-10 palm oil exports at 334,132MT down 18.2% from a month ago