WHEAT

- Nov 8 - Japan bought 121,488 MT of food wheat for Dec-Feb shipments:

  • 13,055 MT of western white US wheat;
  • 11,743 MT of dark northern spring US wheat;
  • 35,930 MT of hard red winter US wheat;
  • 60,760 MT of Canadian western red spring wheat

- Nov 7 - Japan bought 19,000 MT of feed wheat for Feb 28 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 November 14

- Nov 7 - Jordan has made no purchase in an international tender for 120,000 MT of optional-origin hard milling wheat

- Weekly US wheat export sales data for week ended Nov 1 totaled 661,200 MT for 2018/19 (topped trade expectations for 300-600 TMT). Export commitments for 2018/19 are running 16% behind of year-ago

- Russia’s Ag Min said Russia exported 21.5 MMT of grain between July 1-Nov 8, 2018/19, up 20% from 17.9 MMT a year ago, including:

  • wheat – 18.2 MMT (up 32.4% from year ago);
  • barley – 2.3 MMT (down by 12.4%);
  • corn – 678,000 MT (twice down)

- Russia has 3,378,400 MT of grain in its federal intervention fund as of Nov 9 vs. 3,967,600 MT year ago

- Russian grain stocks were at 48.2 MMT as of Oct 1, 2018, down 16.6% from a year earlier (57.8 MMT as of Oct 1, 2017). The data does not include grain stored at small farms

- Ukraine's Ag Min said Ukraine exported about 14.12 MMT of grain between July 1-Nov 7, 2018/19, including 7.84 MMT of wheat, 3.19 MMT of corn and 2.85 MMT of barley

- Ukraine exported 2.19 MMT of wheat in October 2018, down 3.3% on year (2.26 MMT in Oct 2017)

- Ukrainian farms have sown as of Nov 8 a total of 7.1 million hectares of winter grains for the 2019 harvest, or 98% of the expected area of 7.2 million

- France exported 1.15 MMT of soft wheat in September, the third month of the 2018/19 marketing season, including 654,000 MT of soft wheat shipped outside the EU (incl. 570 TMT to Algeria). Cumulative French soft wheat exports in July-September reached 3.93 MMT, up 6% from the same period last year. Shipments outside the EU were up 25% at 2.18 MMT, of which 1.79 MMT, or 82%, to Algeria

- FranceAgriMer estimated winter wheat planting 85% done as of Nov 4, behind of last year’s pace of 87%

- Bunge expects Brazil wheat imports to increase 11% in 2019 to 7 MMT

- Conab upped its estimate for 2018 wheat production to 5.532 MMT from 5.394 MMT in October and compared to 4.262 MMT last year. They forecast wheat imports this year at 6.3 MMT (6.387 MMT in 2017)

- USDA upped its forecast of global wheat production by 2.6 MMT to 733.5 MMT, down 3.9% (or 29.6 MMT) from the 2017/18 record, increase this month mainly due to a larger crop in China, while crops were reduced for Australia, Morocco, Pakistan, and Ukraine. Trade is down slightly this month mainly on lower import demand for Bangladesh, China, Indonesia, Thailand, and Vietnam. Exports are lowered for Australia as drought continues. Consumption is forecast to exceed production for the first time in 6 years

- USDA raised forecast of 2018/19 world wheat inventories by 6.5 MMT to 266.71 MMT vs. 279 MMT in 2017/18, mainly due to revisions for China, above pre-report expectations (259.45 MMT – avg., 257.50-261.20 MMT – range)

- Iraq’s grain board said it has enough stocks of wheat to last until the end of March

- Egypt has sufficient strategic wheat reserves to cover 4.3 months' needs

CORN

- Nov 14 - Taiwan's MFIG seeks 65,000 MT of corn from the US, Brazil or South Africa

- Nov 8 - South Korea's Nonghyup Feed Inc. (Nofi) rejected all offers in tender to buy 130,000 MT of corn for Mar 20 arrival, citing on too high prices. The offers were between 206.95-208 $/mt c&f

- Indonesia's state food procurement agency Bulog is seeking to purchase and import about 100,000 MT of feed corn for December arrival

- Weekly US corn export sales data for week ended Nov 1 totaled 701,500 MT for 2018/19 (within expectations for 600-900 TMT). Export commitments for 2018/19 are running 16% ahead of year-ago

- USDA's forecast of US corn ending stocks for 2018/19 came in below the average trade expectations. Also USDA lowered its corn harvest view

- USDA raised forecast of global corn production in 2018/19 by 30.6 MMT to 1,099 MMT, up 2.1% (or 22.7 MMT) from last year, up sharply this month mainly due to historical revisions for China. Aside from China, gains for Ukraine and Argentina more than offset reductions for the European Union and the United States. Global trade is up with greater imports for the EU, Iran, and Vietnam. Exports for Ukraine are expected at a record

- USDA upped sharply forecast of 2018/19 global corn ending stocks by 148.2 MMT to 307.5 MMT, due to revisions for China, well above trade expectations (157-160.2 MMT), but down from revised 340.92 MMT in 2017/18

- China sharply revised higher its corn output data for the past 10 years. The data was published in the bureau's China Statistics Yearbook for 2018, and showed corn output in 2017 at 259 MMT, a 20% increase from the 215.9 MMT that China had originally reported for the crop. CNGOIC said it expects the 2018/19 crop to increase by 0.05% to 259 MMT

- China's Ag Min raised its forecast of 2018 corn output to 215.04 MMT from 213.02 MMT previously (215.89 MMT in 2017). China’s 2018/19 corn imports are forecasted at 1.5 MMT (3.47 MMT in 2017/18)

- Conab forecast Brazil's 2018/19 corn crop at 90.02-90.95 MMT, more than 80.786 MMT last season with second crop at 63.735 MMT (53.975 MMT in 2017/18). Conab expects Brazil to export 31 MMT of corn (23 MMT in 2017/18). Ending stocks are forecasted to decline to 13.172 MMT from 15.788 MT in 2017/18

- Ukraine exported 1.35 MMT of corn in Oct 2018, up 169.2% from last year (501 TMT in Oct 2017)

- Ukraine exported 673 TMT of barley in Oct 2018, up 61.8% on year (416 TMT in Oct 2017)

- Ukrainian farmers harvested 27.8 MMT of corn from 82% of planned area as of Nov 8, yields totaled 7.37 mt/ha

- Farmers in Bulgaria harvested 3 MMT of corn from 96.9% of planned area as of Nov 1, up 33.2% from last-year stage. Yields totals 7.55 mt/ha, 29.5% higher than a year-ago

- FranceAgriMer estimated France’s corn condition as of November 4 as 57% in good to excellent, unchanged from prior week, but below the year-ago score of 81%. French farmers harvested 98% of corn as of Nov 4 vs. 96% a week ago and 94% a year ago

- FranceAgriMer estimated winter barley planting 90% done as of Nov 4, behind of last year’s pace of 95%

SOYBEAN

- Nov 8 - South Korea's NOFI has purchased about 38,000 MT of feed ingredients:

  • 12,000 MT of corn gluten feed from China at 169 and 173 $/mt c&f for December arrival;
  • 20,000 MT of palm kernel expellers from South East Asia for December-February arrival;
  • 6,000 MT of copra meals from South East Asia for December-January arrival

- Weekly US soybeans export sales data for week ended Nov 1 totaled 391,400 MT, incl. 388,400 MT for 2018/19 (below trade expectations for 400-700 TMT). Export commitments for 2018/19 are running 31% behind of year-ago

- Weekly US soymeal export sales data for week ended Oct 25 of 256,000 MT, incl. 255,100 MT for 2018/19, within trade expectations of 200-450 TMT. Export commitments for 2018/19 are running 15% ahead of year-ago

- USDA raised forecast of US 2018/19 soy ending stocks to an unprecedented 955 million bushels due to reduced exports amid a trade war with China. Meanwhile USDA lowered its forecast for domestic soybean production deeper-than-expected

- USDA lowered forecast of global soybean production in 2018/19 by 2 MMT to still record 367.5 MMT, up 8.5% (or 28.9 MMT) from last year, as reductions for Argentina and the US more than offset gains in China, India, and Ukraine

- USDA raised forecast of 2018/19 global soybean ending stocks by 2 MMT to a record 112.08 MMT, above average expectation of 110.91 MMT (99.69 MMT in 2017/18)

- China's Ag Min kept its 2018 soybean output estimate at 15.83 MMT (15.28 MMT in 2017). Soybean imports forecast is maintained at 83.65 MMT vs. 93.9 MMT in 2017/18

- China imported 6.92 MMT of soybeans in October, down 13.6% from 8.01 MMT in September, but up 18.1% from the year before. China's soybean imports in the first ten months of the year fell 0.5% to 76.93 MMT

- China's imports of all vegetable oils in October was 471,000 MT, down 18.8% from 580,000 MT in September but up 0.2% vs. 470,000 MT year ago. China's Jan-Oct vegetable oil imports rose 6.5% on year to 4.927 MMT

- Conab forecasts Brazil's 2018/19 soy output at 116.77-119.27 MMT compared to a record previous crop of 119.282 MMT. Conab expects Brazil to export 76 MMT of soybeans (76 MMT in 2017/18). Ending stocks are forecasted to rise to 836,900 MT from 670,300 MT in 2017/18

- Ukraine exported 338 TMT of rapeseed in October 2018, down 1.3% on year (342 TMT in Oct 2017)

- Ukraine exported 133 TMT of soybeans in October 2018, down 46% on year (246 TMT in Oct 2017)

- Ukraine exported 542 TMT of sunflower oil in October 2018, up 1.2% on year (535 TMT in Oct 2017)

- Ukrainian farmers harvested 13.3 MMT of sunflower seed from 98% of planned area as of Nov 8, yields totaled 2.24 mt/ha

- Ukrainian farmers harvested 4.3 MMT of soybeans from 98% of planned area as of Nov 8, yields totaled 2.55 mt/ha

- Farmers in Bulgaria harvested 1.887 MMT of sunflower from 99.9% of planned area as of Nov 1, up 2.5% from last-year stage. Yields totals 2.57 mt/ha, 12.7% higher than a year-ago

- Egypt has sufficient vegetable oils reserves to cover 3.3 months' needs

- MPOB estimated Malaysian crude palm oil production in October at 1.965 MMT, slightly topped average expectation of 1.96 MMT and up 6% from 1.854 MMT in September. Malaysia's palm oil stocks at end-October rose 7.6% from the previous month to 2.722 MMT, the highest since December 2017, but below the average market expectation of 2.9 MMT. Malaysian October palm oil exports fell by 3% to 1.571 MMT, but above average expectation of 1.408 MMT