WHEAT

- July 4 - Algeria's OAIC bought around 400,000 MT of optional-origin milling wheat in a tender at 216-217.5 $/mt c&f for August shipment

- Weekly US wheat export sales data for week ended June 27 totaled 276,500 MT for 2019/20, near the low end of market expectations (250-550 TMT). Export commitments for 2019/20 are running 20% ahead of year-ago

- FAO raised forecast of world wheat output in 2019 by 1.3 MMT to 770.8 MMT (730.2 MMT in 2018), mostly due to upward revision in India more than offsetting a cut in Pakistan. Forecast of stocks (ending in 2020) was lowered to 278.5 MMT, down 2.5 MMT from previous forecast (266.6 MMT in 2018/19)

- Ukrainian farmers have threshed 7.3 MMT of wheat from 32% area as of July 8

- European Union farmers' group Copa-Cogeca forecast EU common wheat production this year at 141.4 MMT, up 9% from last year

- FranceAgriMer estimated 75% of French soft wheat crops were in good/excellent condition by July 1, down 5% points from week earlier and vs. 73% a year ago

- Czech Statistics Bureau forecasts country’s 2019 wheat production at 4.857 MMT, up from 4.418 MMT in 2018

- Kazakhstan plans to harvest 20.3 MMT of grain this year, the same level as in 2018. Kazakh grain exports in 2019/20 expected at 10 MMT (10.8 MMT in 2018/19)

- Tunisia expects its grain harvest to jump to 2.1 MMT (incl. 1.1 MMT of durum wheat, 118 TMT of soft wheat and 700 TMT of barley) this season from 1.4 MMT last season

- Egypt has strategic reserves of wheat sufficient for 4.5 months

- Iraq procured almost 4 MMT of wheat from local farmers

CORN

- July 9 - Indian state-run trading company MMTC seeks an unspecified amount of non-GM yellow corn for July 20-August 20 shipment. The tender closes on July 9 and offers must remain valid until July 16

- July 4 - China sold 869,108 MT of corn from state reserves, or 21.8% of the offered amount (3.982 MMT), at average price of 1,677 RMB/mt

- Weekly US corn export sales data for week ended June 27 totaled 331,900 MT for combined old- and new-crop delivery, below trade forecasts. Export commitments for 2018/19 are running 15% behind of year-ago

- Ukraine's Ag Min said Ukraine exported about 696,000 MT of grain between July 1-8, 2019 vs. 333,000 MT for the same period of last year, including 71,000 MT of wheat (21,000 MT a year ago), 588,000 MT of corn (180,000 MT) and 36,000 MT of barley (102,000 MT)

- Ukrainian farmers have harvested 3.6 MMT of barley from 43% area as of July 8; and 402,000 MT of peas from 66% area

- EU in week ended June 28 awarded licenses to import 166,916 MT of Ukrainian barley under an annual duty-free quota.  The award meant that the EU had now awarded 68.9% (437,737 MT) out of a total volume of 635,000 MT available in 2019

- Copa-Cogeca forecast EU barley harvest this year at 59.3 MMT, up 6% from last year

- Copa-Cogeca forecast EU corn crop this year at 64.9 MMT, up 2% from last year

- FranceAgriMer estimated 79% of corn crops were in good/excellent condition by June 24, down 3% points from prior week and vs. 74% a year ago

- FranceAgriMer estimated 73% of French winter barley crops were in good/excellent condition by July 1, down 2% points from prior week and vs. 69% a year ago. Spring barley rating was at 76% in good to excellent vs. 86% last week and vs. 76% a year ago. Harvesting of winter barley was now under way, with 22% of the crop cut by July 1 (1% a week-ago), below the 76% harvest progress a year ago

- Czech Statistics Bureau forecasts country’s 2019 barley harvest at 1.657 MMT, up from 1.606 MMT last year

- Brazil’s Trade Ministry reported June corn exports at 1.369 MMT, up from 1.031 MT in May and up vs. 142,794 MT in the year-ago month

- FAO cut forecast of world maize production in 2019 by 0.7 MMT to 1,101 MMT, with a cut in the forecast for China outweigting a notable increase in Argentina. Forecast of stocks (ending in 2020) upped by 1 MMT to 311.1 MMT (355 MMT in 2018/19)

SOYBEAN

- July 11-12 - South Korea’s Agro-Fisheries & Food Trade Corp seeks a total 11,000 MT of non-GM soybeans for Aug-Nov arrival

- Three South Korean buyers purchased a total of about 180,000 MT of South American soymeal in separate deals last week from Cofco for Dec 10 arrival:

  • Feed Leaders Committee (FLC) bought 60,000 MT at 366.85 $/mt c&f;
  • Major Feedmill Group (MFG) bought 60,000 MT at 366.95 $/mt c&f i;
  • Korea Feed Association (KFA) bought 60,000 MT at 367.00 $/mt c&f

- July 4 - Egypt’s GASC bought 30,000 MT of soybean oil from Aston at 692 $/mt c&f for August 16-31 arrival, but made no purchase of sunflower oil. Sunflower oil was offered at 751-766 $/mt c&f

- Weekly US soybeans export sales data for week ended June 27 totaled 1,029,100 MT, incl. 867,600 MT for 2018/19, near the high end of analysts' forecasts. Export commitments for 2018/19 are running 15% behind of year-ago

- Brazil’s Trade Ministry reported June soybean exports at 9.067 MMT, down from 10.841 MMT in May and down vs. 10.42 MMT a year ago. Also Brazil exported 1.527 MMT of soymeal in June versus 1.648 MMT the month before and 1.56 MMT a year ago; and 140,231 MT of soyoil compared to 255,878 MT in May and 126,068 MT a year ago

- FAO cut forecast of world soybean production in 2019 by 3 MMT to 358.3 MMT (364.8 MMT in 2018/19), with downward adjustments this month for the US and Argentina only partially offset by upward revisions for Brazil. Forecast of global inventories (2019/20 carry-out) upped by 0.9 MMT to 60.8 MMT (63.4 MMT in 2018/19)

- Ukrainian farmers harvested 1.1 MMT of winter rapeseed from 40% area as of July 8

- Czech Statistics Bureau expects country’s 2019 rapeseed harvest at 1.239 MMT, down from 1.411 MMT last year

- Copa-Cogeca forecast EU rapeseed crop this year at 18.35 MMT, down nearly 8% from last year

- India has imposed a 7.5% import duty on palm stearin

- Indian Apr-June 2019 soybean meal exports are estimated at 112,286 MT vs. 248,378 MT during the same period of last season

- Indian Apr-June 2019 rapeseed meal exports are estimated at 247,772 MT vs. 323,282 MT during the same period of last season