WHEAT

- Oct 1 - Turkey's TMO bought 32,000 MT of durum wheat in four 8,000 MT consignments all at 302.90 $/mt c&f from trading house AGT for Oct 8-Nov 8 shipment

- Oct 1 - Taiwan Flour Millers' Association bought 110,300 MT of US milling wheat in two consignments:

  • The first consignment was bought from Columbia Grain International and has an additional charge of 32.86 $/mt for ocean shipping from the US Pacific North West coast to Taiwan for shipment between Nov 10-24:
    • 28,800 MT of dark northern spring wheat (14.5% protein) at 274.35 $/mt fob;
    • 19,650 MT of hard red winter wheat (12.5% protein) at 240.82 $/mt fob;
    • 7,800 MT of soft white wheat (9% protein) at 235.18 $/mt fob.
  • The second consignment was bought from United Grain and has an additional charge of 32.7 $/mt for ocean shipping from the US Pacific North West coast to Taiwan for shipment between Nov 26-Dec 10:
    • 27,650 MT of dark northern spring wheat (14.5% protein) at 288.07 $/mt fob;
    • 19,200 MT of hard red winter wheat (12.5% protein) at 237.77 $/mt fob;
    • 7,200 MT of soft white wheat (9% protein) at 229.64 $/mt fob

- Oct 1 - Jordan has made no purchase in an international tender for 120,000 MT of optional-origin hard milling wheat and re-tender on Oct 8

- US wheat export inspections for week, ending Sept 26, recorded 466,506 MT, within expectations (400-600 TMT). Inspections for 2019/20 are running 22.7% ahead of year-ago

- USDA estimated the US spring wheat harvest as 90% complete by Sept 29, behind of expectations (92%), below 5-year mean (99%) and last year pace (100%)

- USDA said the US winter wheat plantings at 39% complete as of Sept 29, ahead of expectations (36%) and 5-year mean (38%), but behind last-year score (41%)

- USDA in a quarterly report said wheat stocks as of Sept 1 totalled 2.385 billion bushels, 2.9% above the average analyst estimate (2.318 billion bushels). In a separate report, USDA lowered its estimate for the 2019 US wheat crop by 18 million bushels to 1.962 billion bushels. Analysts, on average, had expected the government's wheat harvest estimate to fall to 1.968 billion bushels

- Ukraine's Ag Min said Ukraine exported about 13.592 MMT of grain between July 1-Oct 1, 2019 vs. 9.117 MMT for the same period of last year, including 8.631 MMT of wheat (5.367 MMT a year ago), 2.028 MMT of corn (1.505 MMT) and 2.898 MMT of barley (2.067 MMT)

- Ukrainian farms have sown as of Oct 1 a total of 3.8 million hectares of winter grains for the 2019 harvest, or 52% of the expected area of 7.3 million, incl. 3.47 million hectares of winter wheat and 261,000 hectares of winter barley

- Kazakhstan has cuts its 2019 grain harvest forecast to 17.0 MMT from 18.0-18.5 MMT previously (20.3 MMT in 2018). Kazakh farmers harvested 14.404 MMT of all grains as of September 30, down vs. 16.864 MMT a year ago. Yields totalled 1.14 mt/ha down from 1.33 mt/ha a year ago

- China will issue 2020 low-tariff import quota for wheat at 9.36 MMT (10% or 936,000 MT non-State trading), unchanged from previous year

- European Commission (EC) raised its forecast of 2019 EU soft wheat crop to 145.003 MMT from 142.658 MMT previously (128.835 MMT last year). EU's executive forecasts EU soft wheat exports at 25.534 MMT in 2019/20, up from 21.433 MMT in 2018/19. Soft wheat inventories in the region are forecasted at 16.901 MMT by the end of June 2020, above 12.198 MMT estimated for 2018/19

CORN

- Oct 15 - Qatar seeks 100,000 MT of optional-origin barley

- Oct 2 - Algeria's ONAB seeks 50,000 MT of optional-origin corn for November 1-15 shipment

- Oct 1 - Turkey's TMO bought 200,000 MT of feed barley (16x12.5 TMT) for Nov 7-25 shipment:

  • 25,000 MT from Hakan at 202.9 $/mt c&f Derince;
  • 37,500 MT from Hakan at 203.7 $/mt c&f Iskenderun;
  • 12,500 MT from Ulusoy at 206.9 $/mt c&f Mersin;
  • 25,000 MT from Cofco at 204.3 $/mt c&f Mersin;
  • 25,000 MT from Hakan at 202.75 $/mt c&f Izmir;
  • 12,500 MT from Cofco at 199.77 $/mt c&f Bandirma;
  • 12,500 MT from Aston at 199.67 $/mt c&f Bandirma;
  • 12,500 MT from Aston at 198.7 $/mt c&f Tekirdag;
  • 12,500 MT from ADM at 199 $/mt c&f Tekirdag;
  • 12,500 MT from GTCS at 198.65 $/mt c&f Samsun;
  • 12,500 MT from GTCS at 196.23 $/mt c&f Trabzon

- Sept 30 - USDA announced export sales of 120,000 MT of US corn for delivery to Mexico during 2019/20

- Sept 27 - Saudi Arabia’s SAGO bought 1.02 MMT of feed barley of Australia, South and North America (excl. Canada), EU and Black Sea origin at an average price of 209.95 $/mt c&f in 17 consignments for December-February shipment to the Red Sea ports (840 TMT) and the Gulf ports (180 TMT):

  • Red Sea Ports:
    • 60,000 MT from Glencore at 208.79 $/mt c&f (Dec 1-15);
    • 60,000 MT from Glencore at 209.14 $/mt c&f (Dec 1-15);
    • 60,000 MT from Glencore at 209.49 $/mt c&f (Dec 15-30);
    • 60,000 MT from Glencore at 209.84 $/mt c&f (Dec 15-30);
    • 60,000 MT from Agrorodeo at 209.95 $/mt c&f (Dec 15-30);
    • 60,000 MT from Lecureur at 211.91 $/mt c&f (Dec 15-30);
    • 60,000 MT from Glencore at 210.19 $/mt c&f (Jan 1-15);
    • 60,000 MT from Glencore at 210.54 $/mt c&f (Jan 1-15);
    • 60,000 MT from Glencore at 210.89 $/mt c&f (Jan 1-15);
    • 60,000 MT from Lecureur at 205.20 $/mt c&f (Jan 15-30);
    • 60,000 MT from Bunge at 207.75 $/mt c&f (Jan 15-30);
    • 60,000 MT from Cofco at 209.99 $/mt c&f (Jan 15-30);
    • 60,000 MT from Glencore at 211.24 $/mt c&f (Jan 15-30);
    • 60,000 MT from Bunge at 210.25 $/mt c&f (Feb 1-15).
  • Gulf Ports:
    • 60,000 MT from Glencore at 212.01 $/mt c&f (Dec 15-30);
    • 60,000 MT from Glencore at 211.59 $/mt c&f (Jan 1-15);
    • 60,000 MT from Lecureur at 210.45 $/mt c&f (Jan 15-30)

- US corn export inspections for week, ending Sept 26, reported 399,736 MT, below expectations (400-600 TMT). Inspections for 2019/20 are running 65.7% behind of year-ago

- USDA rated 57% of the US corn crop in good-to-excellent condition as of Sept 29, unchanged from prior week, in line with expectation but down compared to 69% a year-ago. USDA estimated 11% of the US corn crop was harvested, behind of expectations (14%), below last year’s pace (25%) and the 5-year mean (19%)

- USDA in a quarterly report said corn stocks as of Sept 1 totalled 2.114 billion bushels, 12.9% below the average analyst estimate (2.428 billion bushels)

- China will issue 2020 low-tariff import quota for corn at 7.2 MMT (40% or 2.88 MMT non-State trading), unchanged from previous year

- EC cut its forecast of 2019 EU corn harvest to 66.46 MMT from 68.5 MMT previously (68.98 MMT in 2018). EC raised its forecast of EU 2019/20 corn imports by 1.5 MMT to 17 MMT (24.229 MMT in 2018/19). They forecast ending stocks at 21.882 MMT vs. 24.924 MMT in 2018/19

- EC raised its forecast of 2019 EU barley harvest to 61.396 MMT from 60.506 MMT previously (56.013 MMT in 2018). EC forecasts EU 2019/20 barley exports at 8.824 MMT vs. 7.981 MMT in 2018/19 and ending stock at 8.024 MMT vs. 5.24 MMT current season

- Ukrainian farmers have harvested 7.24 MMT of corn from 24.2% area with the average yield of 6.01 mt/ha as of Oct 1

SOYBEAN

- Sept 30 - South Korea's Nonghyup Feed Inc. (NOFI) has purchased about 60,000 MT of South American soymeal from Cofco at 348.9 $/mt c&f + 1.25 surcharge for additional port unloading for March 15, 2020 arrival          

- US soybean export inspections for week, ending Sept 26, reported 982,288 MT, within trade expectations (750-1100 TMT). Inspections for the 2019/20 marketing year are running 6% ahead of year-ago

- USDA rated 55% of the US soybean crop in good-to-excellent condition as of Sept 29, up 1% point from prior week, ahead of expectations (54%), but down compared to 68% a year-ago. USDA estimated 7% of the US soybean crop was harvested, ahead of expectations (6%), but below last year’s pace (22%) and the 5-year mean (20%)

- USDA in a quarterly report said soybean stocks were 913 million bushels as of Sept 1, behind of analysts' estimates by 7% (982 million bushels). USDA also lowered its estimate for last year's US soybean harvest by 2.6% to 4.428 billion bushels. Analysts on average were expecting the agency to trim its estimate to 4.528 billion bushels

- Surveyor AmSpec Agri Malaysia estimated Malaysia's Sept 1-30 palm oil exports at 1,304,204 MT down 20.7% from a month ago

- Surveyor SGS estimated Malaysia's Sept 1-30 palm oil exports at 1,327,566 MT down 20.1% from a month ago

- EC cut its forecast of 2019 EU rapeseed harvest to 16.926 MMT from 17.47 MMT previously, 15.6% down from 20.043 MMT in 2018

- EC lifted forecast of 2019 EU soybean harvest to 2.858 MMT from 2.856 MMT previously (2.827 MMT)

- EC lowered forecast of 2019 EU sunflower seed crop to 9.948 MMT from 10.499 MMT previously (9.964 MMT in 2018)

- Ukrainian farmers have harvested 10.65 MMT of sunflowerseed from 78.3% area with the average yield of 2.33 mt/ha as of Oct 1

- Ukrainian farmers have harvested 2.28 MMT of soybean from 61.6% area with the average yield of 2.34 mt/ha as of Oct 1

- Ukrainian farmers have planted 1 million ha of winter rapeseed (93.8% of plan) as of Oct 1