WHEAT

- Sept 3 - Turkey's TMO seeks 250,000 MT of red milling wheat (25x10 TMT) for Sept 10-27 shipment

- Aug 28 - Jordan seeks 120,000 MT of optional-origin hard milling wheat for Nov-Dec shipment

- Aug 28 - Thai Feed Mill Association (TFMA) in Thailand purchased about 70,000 MT of feed wheat (Black sea or Argentina origin) from Cofco at 221.9 $/mt c&f liner out for Dec 21-Jan 20 shipment

- Aug 27 - Egypt's GASC bought 350,000 MT of wheat from Russia (230 TMT), France (60 TMT) and Ukraine (60 TMT) for October 1-10 shipment:

  • 60,000 MT of French wheat from Glencore at 215.09 $/mt c&f (193.60 fob+21.49 freight);
  • 60,000 MT of Russian wheat from Garant Logistics at 215.87 $/mt c&f (199.40 fob+16.47 freight);
  • 60,000 MT of Russian wheat from Posco International at 216.25 $/mt c&f (199.40 fob+16.85 freight);
  • 60,000 MT of Ukrainian wheat from LDC at 216.60 $/mt c&f (198.35 fob+18.25 freight);
  • 55,000 MT of Russian wheat from Posco International at 216.62 $/mt c&f (199.40 fob+17.22 freight);
  • 55,000 MT of Russian wheat from Posco International at 217.30 $/mt c&f (199.40 fob+17.90 freight)

- Aug 27 - South Korean flour mill SPC bought about 30,500 MT of milling wheat (20,000 MT from the US and 10,500 MT from Canada) from Itochu for November shipment     

- Aug 23 - Flour miller in South Korea bought 30,000 MT of US milling wheat from Marubeni for Nov 20-Dec 20 shipment:

  • 4,700 MT of hard red winter wheat (11.5% protein) at 201.56 $/mt fob;
  • 12,350 MT of northern spring wheat (14% protein) at 217.93 $/mt fob;
  • 12,950 MT of soft white wheat (10.5% protein) at 212.96 $/mt fob

- Aug 20 - An importer in the Philippines bought about 60,000 MT of Black Sea feed wheat from Agrocorp International at 222 $/mt c&f for November shipment

- US wheat export inspections for week, ending Aug 22, recorded 492,998 MT, within expectations (400-600 TMT). Inspections for 2019/20 are running 23.9% ahead of year-ago

- USDA said the US winter wheat harvest was 96% complete as of Aug 25, behind of expectations (97%), also below the last year’s 100% and the five-year average of 99%. USDA rated 69% of the US spring wheat crop in good-to-excellent condition as of Aug 25, down 1% point from prior week and behind of expectations (70%), also down compared to 74% a year-ago. The spring wheat harvest was 38% complete by Aug 25, above expectations (29%), but behind of 5-year mean (65%) and last year pace (75%)   

- Ukraine's Ag Min has proposed traders raise the volume of wheat available for exports in the 2019/20 July-June season to 19 MMT from 16 MMT in 2018/19, including about 11 MMT of milling wheat

- Agritel said France need to export 20 MMT of soft wheat this season after harvesting its second-largest crop in history at 39.2 MMT

- Saudi Arabia's SAGO will buy 10% of its annual wheat needs from Saudi-controlled companies based abroad

- MARS lowered its yield forecast for this year's EU soft wheat to 6.03 mt/ha from 6.04 mt/ha prior month, up 7.1% from last year and 1.5% above the five-year mean

- China imported 189,993 MT of wheat in July, down 72.8% from the year before

CORN

- Aug 28 - Thai Feed Mill Association (TFMA) in Thailand purchased about 20,000 MT of Australian feed barley from Glencore at 219 $/mt c&f liner out for Jan 1-31, 2020 shipment

- Aug 23 - Saudi Arabia's SAGO (Saudi Grains Organisation) bought 780,000 MT of feed barley of Australia, South and North America (excl. Canada), EU and Black Sea origin at an average price of 206.76 $/mt c&f in 13 consignments for October-December shipment to the Red Sea ports (540 TMT) and the Gulf ports (240 TMT):

  • Red Sea Ports:
    • 60,000 MT from Bunge at 198.50 $/mt c&f (Oct 15-30);
    • 60,000 MT from Bunge at 199.25 $/mt c&f (Oct 15-30);
    • 60,000 MT from Dreyfus at 210.00 $/mt c&f (Oct 15-30);
    • 60,000 MT from Bunge at 198.50 $/mt c&f (Nov 1-15);
    • 60,000 MT from Bunge at 199.50 $/mt c&f (Nov 1-15);
    • 60,000 MT from Soufflet at 210.00 $/mt c&f (Nov 1-15);
    • 60,000 MT from ADM Hellas at 207.77 $/mt c&f (Nov 15-30);
    • 60,000 MT from Bunge at 199.75 $/mt c&f (Dec 1-15);
    • 60,000 MT from Bunge at 200.00 $/mt c&f (Dec 1-15).
  • Gulf Ports:
    • 60,000 MT from Ameropa at 217.50 $/mt c&f (Oct 15-30);
    • 60,000 MT from Ameropa at 217.50 $/mt c&f (Nov 1-15);
    • 60,000 MT from Cargill at 219.55 $/mt c&f (Nov 15-30);
    • 60,000 MT from Bunge at 210.00 $/mt c&f (Dec 1-15)

- Aug 22 - Taiwan's MFIG bought 65,000 MT of Brazil corn from Amaggi at a premium of 116.5 USc/bushel c&f over the Chicago March 2020 corn contract (197 $/mt, c&f) for Nov 3-22 shipment

- Aug 21 - South Korea's KOCOPIA in a private deal bought 60,000 MT of corn, likely from Brazil, from Cofco at 200.4 $/mt c&f for Nov 30 arrival

- Aug 22 - China sold 442,626 MT of corn from state reserves, or 11.1% of the offered amount (3.989 MMT), at average price of 1,680 RMB/mt. So, so far a total of 20.513 MMT of the country’s auctioned off from May 23, from a total of 55.626 MMT offered, all coming from the 2014 and 2015 harvests

- US corn export inspections for week, ending Aug 22, reported 639,154 MT, within expectations (500-800 TMT). Inspections for 2018/19 are running 17% behind of year-ago

- USDA rated 57% of the US corn crop in good-to-excellent condition as of Aug 25, up 1% point from prior week, as expected, but down compared to 68% a year-ago

- Pro Farmer forecast the 2019 US corn harvest would drop 7.4% from last year. Pro Farmer projected the corn crop at 13.358 billion bushels based on an average yield of 163.3 bpa, below USDA's forecast of 13.901 billion bushels and 169.5 bpa

- FranceAgriMer estimated 62% of corn crops were in good/excellent condition by Aug 19, up 2% points from prior week and vs. 61% a year ago

- MARS lowered its yield forecast for this year's EU corn to 7.93 mt/ha from 8.08 mt/ha last month, down 5% from last year but 4.1% above the five-year average

- MARS lifted its yield estimate for this year's EU barley (winter and spring) to 4.92 mt/ha from 4.91 mt/ha last month, up 7% from last year and 1.2% above the five-year mean

- China's corn imports in July came to 385,982 MT, up 16.4% from the same month of 2018. January-July imports rose 38% to 3.5 MMT

- China imported around 300,000 MT of barley in July, down 49.4% from the year before. China's Jan-July barley imports totals 3.39 MMT, down 32% from year-ago

- China's pork imports surged by 106.7% in July from the same month last year to 182,227 MT. For the first seven months of 2019, imports surge to 1.001 MMT, up 36% from the same time a year ago

SOYBEAN

- US soybean export inspections for week, ending Aug 22, reported 961,964 MT, within trade expectations (700-1100 TMT). Inspections for the 2018/19 marketing year are running 19.9% behind of year-ago

- USDA rated 55% of the US soybean crop in good-to-excellent condition as of Aug 25, up 2% points from prior week, above expectations of 54% but down compared to 66% a year-ago

- Pro Farmer forecast the 2019 US soybean harvest would fall 23% from last year. Soybean production was projected at 3.497 billion bushels based on an average yield of 46.1 bpa, below USDA's production outlook for 3.680 billion bushels and 48.5 bpa

- China will impose an extra 5% tariff on US soybeans from Sept 1, as well as additional 10% duties on US wheat, corn and sorghum from Dec 15.  China will also levy extra 10% tariffs on US beef and pork from Sept 1

- MARS lowered its yield estimate for this year's EU rapeseed to 3.09 mt/ha from 3.1 mt/ha last month, up 6.8% from 2018 but 4.7% below the 5-year average

- MARS cut its yield forecast for this year's EU sunflower seed to 2.39 mt/ha from 2.45 mt/ha last month, up 8.4% over the 5-year average but down 1.1% from 2018

- India's trade ministry recommends import tax hike on Malaysian refined palm oil to 50% from 45%

- China’s July 2019 palm oil imports up 74.3% on year to 638,538 MT

- China's July 2019 soy oil imports rose 261.9% from year-ago levels to 132,418 MT

- Surveyor SGS estimated Malaysia's Aug 1-25 palm oil exports at 1,379,471 MT up 19.9% from a month ago

- Surveyor AmSpec Agri Malaysia estimated Malaysia's Aug 1-25 palm oil exports at 1,365,258 MT up 21% from a month ago

- Indonesia will maintain export tax for crude palm oil at zero for September 2019, as the CPO reference price for September is set at 555.6 $/mt, below the threshold of 750 $/mt for taxes and 570 $/mt for levies