WHEAT

- July 16 - Jordan Silos & Supply General Company seeks 25,000 MT of optional-origin milling wheat for September 1-15 shipment. Jordan Silos is not believed to have made a purchase in a previous wheat tender on July 1

- July 11 - Japan seeks 98,705 MT of food wheat for Sept shipments:

  • 15,220 MT of western white US wheat;
  • 19,805 MT of hard red winter US wheat;
  • 34,910 MT of Canadian western red spring wheat;
  • 28,770 MT of Australian standard white wheat

- July 9 - Egypt's GASC bought 240,000 MT of wheat from Romania (180 TMT) and Ukraine (60 TMT) for August 10-20 shipment:

  • 120,000 MT of Romanian wheat from ADM at 213.44 $/mt c&f (198 fob+15.44 freight);
  • 60,000 MT of Romanian wheat from Glencore at 213.44 $/mt c&f (198 fob+15.44 freight);
  • 60,000 MT of Ukrainian wheat from Louis Dreyfus at 215.34 $/mt c&f (198 fob+17.34 freight)

- July 9 - Jordan has made no purchase in an international tender for 120,000 MT of optional-origin hard milling wheat and re-tender on July 16

- July 5 - Importers in the Philippines bought about 60,000 MT of Black Sea feed wheat at just above 218 $/mt c&f for shipment in the second half of August and first half of September

- July 4 - Algeria's OAIC bought about 480,000 MT of optional-origin milling wheat in a tender, more than the volume previously reported (400,000 MT), at 216-217.5 $/mt c&f for August shipment

- US wheat export inspections for week, ending July 4, recorded 609,456MT, topped expectations (300-500 TMT). Inspections for 2019/20 are running 48.1% ahead of year-ago

- USDA reports 64% of the winter wheat crop is in good to excellent condition as of July 7, up 1% point from prior week and ahead of average analyst expectations (63%), well above last year's 37%. USDA said the US winter wheat harvest was 47% complete, ahead of expectations (45%), but lagging the last year’s 61% and the five-year average of 61%. USDA rated 78% of the US spring wheat crop in good-to-excellent condition as of June 30, up 3% points from prior week and above expectations (76%), but down compared to 80% a year-ago

- EU in season 2018/19 (July-June) exported 20.619 MMT of soft wheat compared to 21.045 MMT a year ago. Top 5 export destinations in 2018/19 were Algeria (25.3%), Saudi Arabia (13.1%), Egypt (9.6%), Morocco (6.2%) and South Africa (3.9%)

- Russian farmers as of July 10 have harvested 24.5 MMT of wheat from 6.3 million ha with the average yield of 3.87 mt/ha (3.95 mt/ha a year ago)

- IKAR lowered its 2019 Russian wheat crop outlook to 78.5 MMT from 79.3 MMT previously

- SovEcon cut Russia's 2019 total grain production forecast to 121.9 MMT from 127.1 MMT previously, and wheat crop forecast by 5.6 MMT to 76.6 MMT. Sovecon lowered its forecast of Russian 2019/20 wheat exports by 4.6 MMT to 33 MMT

- France's farm ministry estimates the country's 2019 soft wheat crop at 36.958 MMT with yields 7.37 mt/ha, up 8.5% from last year (34.078 MMT and 6.98 mt/ha in 2018) and 3.6% above the five-year average

- FranceAgriMer upped its estimate for French soft wheat stocks at the end of the 2018/19 to 2.53 MMT from 2.432 MMT projected last month (2.961 MMT in 2017/18). Projected exports outside the EU lowered by 50,000 MT to 9.7 MMT, up 19.5% from 8.117 MMT in 2017/18, while forecast of shipments within the EU was lifted from 7.553 to 7.563 MMT, down 18.4% from 9.268 MMT in 2017/18

CORN

- India lowered import taxes on an additional 400,000 MT of corn to 15%

- Indian state-run trading company MMTC has postponed the offer deadline in an international tender for non-GM yellow corn to July 11 from July 9. Offers must remain valid until July 18 vs. July 16 previously

- July 10 -  Japan bought 520 MT of feed grain (100 MT of wheat and 420 MT of barley) for Dec 25 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 July 17

- US corn export inspections for week, ending July 4, reported 703,192 MT, topped expectations (400-700 TMT). Inspections for 2018/19 are running 10.1% behind of year-ago

- USDA rated 57% of the US corn crop in good-to-excellent condition as of July 7, up 1% point from prior week and matching expectations, but down compared to 75% a year-ago

- EU in season 2018/19 (July-June) imported 23.67 MMT of corn (maize) vs. 17.693 MMT a year ago. Top import origins in 2018/19 were Ukraine (65.4%), Brazil (16.7%), Canada (7.6%) and Serbia (3.7%)

- EU in season 2018/19 (July-June) exported 3.006 MMT of corn vs. 1.577 MMT a year ago. Top export destinations in 2018/19 were Turkey (32.6%), Lebanon (12.4%), Egypt (9.9%), South Korea (8.7%) and Iran (6.8%)

- EU in season 2018/19 (July-June) exported 4.637 MMT of barley vs. 5.739 MMT a year ago. Top 5 export destinations in 2018/19 were Saudi Arabia (37.0%), China (15.7%), Iran (8.7%), Tunisia (7.4%), and Libya (7.0%)

- EU in season 2018/19 (July-June) exported 2.848 MMT of malt in barley equivalent vs. 2.84 MMT a year ago. Top 5 export destinations in 2018/19 were Japan (8.4%), Nigeria (8.3%), Brazil (6.3%), Vietnam (5.7%) and Mexico (3.9%)

- France's farm ministry forecasts the country's 2019 barley production at 12.561 MMT, up 12.3% from last year (11.186 MMT in 2018) and 10.3% above five-year average. French winter barley crop is expected at 8.702 MMT (8.53 MMT forecasted in June and 8.153 MMT in 2018), while spring crop may rose to 3.858 MMT (3.033 MMT in 2018)

- FranceAgriMer lowered its forecast for French corn stocks at the end of the 2018/19 to 2.802 MMT from 2.955 MMT in June and vs. 2.549 MMT in 2017/18. France's 2018/19 corn exports are forecasted at 4.335 MMT up from June estimate (4.238 MMT) but down vs. 5.316 MMT a year ago

- FranceAgriMer raised its estimate of France's 2018/19 barley ending stocks to 1.627 MMT from 1.531 MT in June (1.514 MMT in 2017/18). France's 2018/19 barley exports (without malt) is estimated at 6.064 MMT (6.134 MMT – previous forecast) up 1% from year-ago (5.992 MMT in 2017/18)

- Russian farmers as of July 10 have harvested 3.1 MMT of barley from 798,400 ha with the average yield of 3.83 mt/ha (3.6 mt/ha a year ago)

SOYBEAN

- US soybean export inspections for week, ending July 4, reported 757,903 MT, within trade expectations (800-1100 TMT). Inspections for the 2018/19 marketing year are running 24.8% behind of year-ago

- USDA said 96% of the US soybean crop was planted as of July 7, behind of market forecasts (92%), down compared to 100% last year and an 99% five-year average. USDA rated 53% of the US soybean crop in good-to-excellent condition down 1% point from prior week, also down compared to 71% a year-ago and below an average of expectations (55%)

- France's farm ministry lowered its forecast for 2018 French rapeseed output to 3.64 MMT from 3.843 MMT in June, down 26.9% from last year (4.979 MMT in 2018) and 28.4% below five-year average       

- EU in season 2018/19 (July-June) imported 14.93 MMT of soybeans vs. 13.865 MMT a year ago. Top 5 import origins in 2018/19 were the US (60.3%), Brazil (31.9%), Ukraine (2.5%), Canada (1.7%) and Uruguay (1.2%)

- EU in season 2018/19 (July-June) imported 17.632 MMT of soymeal vs. 19.128 MMT a year ago. Top 5 import origins in 2018/19 were Brazil (41.5%), Argentina (39.1%), US (5.8%), Paraguay (4.7%) and India (2.7%)

- EU in season 2018/19 (July-June) imported 4.208 MMT of rapeseed vs. 4.281 MMT a year ago. Top import origins in 2018/19 were Ukraine (51.7%), Australia (31.8%), and Canada (10.2%)

- EU in season 2018/19 (July-June) imported 507,041 MT of sunflowerseed vs. 545,926 MT a year ago, mostly from Moldova (51.2%), Argentina (12.6%), Serbia (11%)

- EU in season 2018/19 (July-June) imported 3.451 MMT of sunflower meal vs. 3.735 MMT a year ago. Top 3 import origins in 2018/19 were Ukraine (56.8%), Russia (22.2%) and Argentina (15.7%)

- EU in season 2018/19 (July-June) imported 1.749 MMT of sunflower oil vs. 1.66 MMT a year ago, mostly from Ukraine (88.3%)

- EU in season 2018/19 (July-June) imported 6.363 MMT of palm oil vs. 6.374 MMT a year ago. Top 5 import origins in 2018/19 were Indonesia (40.7%), Malaysia (20.7%), Papua New Guinea (10.9%), Guatemala (9.6%) and Colombia (9%)

- MPOB estimated Malaysian crude palm oil production in June at 1.518 MMT, below the average expectation of 1.538 MMT and down 9.2% from 1.671 MMT in May. Malaysia's palm oil stocks at end-June fell 1% from the previous month to an 11-month low 2.424 MMT, but above the average market expectation of 2.35 MMT. Malaysian June palm oil exports fell by 19.3% to 1.383 MMT, slightly below the average expectation of 1.387 MMT

- MPOB sees 2019 full year Malaysia's palm oil production at 20 MMT

- Surveyor AmSpec Agri Malaysia estimated Malaysia's July 1-10 palm oil exports at 367,950 MT down 2.3% from a month ago

- Surveyor SGS estimated Malaysia's July 1-10 palm oil exports at 366,242 MT down 2.9% from a month ago