WHEAT

- Aug 15 - Egypt’s GASC seeks an unspecified amount of wheat from global suppliers for Sept 15-30 shipment

- Aug 14 - Importers in Thailand bought 50,000 MT of feed wheat at 221 $/mt c&f liner out for November shipment    

- Aug 14 - Taiwan Flour Millers' Association bought 94,950 MT of US milling wheat in two consignments:

  • The first consignment was bought from Columbia Grain International and has an additional charge of 31.62 $/mt for ocean shipping from the US Pacific North West coast to Taiwan for shipment between Oct 3-17:
    • 25,250 MT of dark northern spring wheat (14.5% protein) at 225.46 $/mt fob;
    • 16,075 MT of hard red winter wheat (12.5% protein) at 219.54 $/mt fob;
    • 5,575 MT of soft white wheat (9% protein) at 228.52 $/mt fob.
  • The second consignment was bought from ADM and has an additional charge of 31.55 $/mt for ocean shipping from the US Pacific North West coast to Taiwan for shipment between Oct 18-Nov 1:
    • 25,700 MT of dark northern spring wheat (14.5% protein) at 227.68 $/mt fob;
    • 16,200 MT of hard red winter wheat (12.5% protein) at 222.14 $/mt fob;
    • 6,150 MT of soft white wheat (9% protein) at 225.46 $/mt fob

- US wheat export inspections for week, ending Aug 8, recorded 688,978 MT, topped expectations (350-550 TMT). Inspections for 2019/20 are running 27.6% ahead of year-ago

- USDA said the US winter wheat harvest was 89% complete as of Aug 11, behind of expectations (90%), also below the last year’s 93% and the five-year average of 96%. USDA rated 69% of the US spring wheat crop in good-to-excellent condition as of Aug 11, down 4% points from prior week and behind of expectations (72%), also down compared to 75% a year-ago. The spring wheat harvest was 8% complete by Aug 11, below expectations (11%), and well behind of 5-year mean (30%) and last year pace (32%)

- Ukraine's Ag Min said Ukraine exported about 5.602 MMT of grain between July 1-Aug 15, 2019 vs. 3.961 MMT for the same period of last year, including 2.526 MMT of wheat (1.73 MMT a year ago), 1.647 MMT of corn (1.03 MMT) and 1.421 MMT of barley (1.153 MMT)

- Czech Statistics Bureau lowered forecast of country’s 2019 wheat production to 4.79 MMT from 4.857 MMT previously (4.418 MMT in 2018)

- Germany's association of farm cooperatives lowered its forecast of country’s 2019 wheat crop to 23.81 MMT from 23.85 MMT in July, a 17.5% increase from last year

- USDA upped forecast of the total US wheat crop for the 2019/20 marketing year by 59 milllion bushels to 1.98 billion bushels, above the average analyst estimate for 1.925 billion and up 5% from the prior year. Also the forecast of US wheat ending stocks for 2019/20 came in above the average trade expectations

- USDA cut forecast of global wheat crop in 2019/20 by 3.39 MMT to 768.07 MMT, up 5.1% (or 37.53 MMT) from the 2018/19. Global production is lowered this month mainly on smaller crops in the EU, Kazakhstan, Russia, and Turkey. Global trade is raised marginally, highlighted by stronger import demand for the Philippines and Turkey. Higher exports for Argentina, Ukraine, and the US offset reductions for the EU, Kazakhstan, and Russia. USDA lowered forecast of 2019/20 world wheat inventories by 1.06 MMT to 285.4 MMT, above the average expectation of 284.08 MMT and vs. 275.49 MMT in 2018/19

CORN

- Aug 21 - Japan seeks 120,000 MT of feed wheat and 200,000 MT of feed barley in a simultaneous buy and sell (SBS) auction

- Aug 14 - South Korea's Feed Leaders Committee (FLC) bought around 65,000 MT of optional-origin corn from CHS at 200.99 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for January 30, 2020 arrival

- Aug 14 - South Korea's Nonghyup Feed Inc. (NOFI) bought 69,000 MT of optional-origin corn from Bunge at 201.07 $/mt c&f + 1.35 $/mt surcharge for additional port unloading for January 20, 2020 arrival

- Aug 13 - South Korea's Nonghyup Feed Inc. (NOFI) bought 65,000 MT of optional-origin corn from CHS at 203.0 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for January 10, 2020 arrival

- Aug 13 - South Korea's Korea Feed Association (KFA) bought around 65,000 MT of optional-origin corn from GrainCorp at 202.5 $/mt c&f for January 30, 2020 arrival

- US corn export inspections for week, ending Aug 8, reported 703,183 MT, within expectations (500-750 TMT). Inspections for 2018/19 are running 15.6% behind of year-ago

- USDA rated 57% of the US corn crop in good-to-excellent condition as of Aug 11, unchanged from prior week, ahead of expectation (56%), but down compared to 70% a year-ago

- Czech Statistics Bureau raised forecast of country’s 2019 barley harvest to 1.693 MMT from 1.657 MMT previously (1.606 MMT last year)

- Germany's association of farm cooperatives lowered its forecast of country’s 2019 corn crop to 3.89 MMT (4.13 MMT previously), a 16.6% increase from last year

- Germany's association of farm cooperatives forecasted the country’s 2019 winter barley crop at 10.09 MMT (9.85 MMT – previous forecast in July), up 36.9% from last year; and spring barley crop at 2.01 MMT (2.08 MMT – previous forecast), down 8.9% from 2018

- USDA issued a surprise increase in its forecast of US corn production, while everyone had expected reduction. USDA's forecast of US corn ending stocks for 2019/20 also came in above the range of trade expectations

- USDA raised forecast of global corn production in 2019/20 by 3.1 MMT to 1,108 MMT, down 1.3% (or 14.79 MMT) from last year, with larger crops for Ukraine and the US. Global trade is up from last month with larger imports for the EU and Indonesia. On the exporter side, higher exports for Ukraine more than offset a reduction for Russia. USDA upped forecast of 2019/20 global corn ending stocks by 8.8 MMT to 307.72 MMT, topping the range of trade expectations but down from 328.58 MMT in 2018/19

SOYBEAN

- Aug 13 - South Korea's Nonghyup Feed Inc. (NOFI) has purchased about 60,000 MT of US or South American soymeal from Cargill at 364.5 $/mt c&f + 1.75 and 2.5 $/mt surcharges for additional port unloading for January 10, 2020 arrival      

- US soybean export inspections for week, ending Aug 8, reported 944,238 MT, within trade expectations (700-1100 TMT). Inspections for the 2018/19 marketing year are running 21.5% behind of year-ago

- USDA rated 54% of the US soybean crop in good-to-excellent condition as of Aug 11, unchanged from prior week, above expectations of 53%, but down compared to 66% a year-ago

- USDA cut its US soy area estimation bigger than expected. USDA's forecast of US soybean ending stocks for 2019/20 came in below the average of trade expectations

- USDA cut forecast of global soybean production in 2019/20 by 5.2 MMT to 341.83 MMT, down 5.8% (or 21 MMT) from last year’s record, due to lower US’s crop. USDA lowered forecast global soybean ending stocks by 2.78 MMT to 101.74 MMT by the end of 2019/20, down 12.8 MMT from record level of 2018/19 and below average expectation (104.77 MMT)

- Surveyor AmSpec Agri Malaysia estimated Malaysia's Aug 1-15 palm oil exports at 765,205 MT up 16.6% from a month ago

- Surveyor SGS estimated Malaysia's Aug 1-15 palm oil exports at 752,470 MT up 14.3% from a month ago

- MPOB estimated Malaysian crude palm oil production in July at 1.738 MMT, above the average expectation of 1.692 MMT and up 15% from 1.511 MMT in June. Malaysia's palm oil stocks at end-July fell 0.8% from the previous month to a one-year low of 2.392 MMT, below the average market expectation of 2.468 MMT. Malaysian July palm oil exports rose by 7.4% to 1.485 MMT, exceeding the average expectation of 1.435 MMT

- Czech Statistics Bureau cut estimate of country’s 2019 rapeseed harvest to 1.194 MMT from 1.239 MMT previously, down from 1.411 MMT last year

- Germany's association of farm cooperatives cut Germany's 2019 winter rapeseed output forecast from 2.97 to 2.79 MMT this month, down 23.7% from 2018

- India imported 1.412 MMT of veg oils (edible & non-edible) in July vs. 1.105 MMT in June, up 26% from 1.12 MMT a year ago

- India imported 532,784 MT of crude palm oil in July vs. 421,001 MT in June and vs. 363,799 MT a year ago. India's Nov-July 2018/19 imports totals 4.699 MMT vs. 4.536 MMT a year ago

- India imported 264,718 MT of RBD palmolein in July vs. 255,551 MT in June and vs. 180,418 MT a year ago. India's Nov-July 2018/19 imports totals 2.09 MMT vs. 1.496 MMT a year ago

- India imported 319,606 MT of soybean oil in July vs. 222,853 MT in June and vs. 352,325 MT a year ago. India's Nov-July 2018/19 imports totals 2.012 MMT vs. 2.13 MMT a year ago

- India imported 200,467 MT of sunflower oil in July vs. 161,540 MT in June and vs. 139,174 MT a year ago. India's Nov-July 2018/19 imports totals 1.835 MMT vs. 2.01 MMT a year ago

- India's stock of edible oils at various ports and in pipelines as of August 1, 2019 fell to 1.995 MMT from 2.15 MMT a month ago, down vs. last year's 2.475 MMT. India's monthly requirement is about 1.9 MMT