WHEAT

- July 10 - Ethiopia seeks around 400,000 MT of optional-origin milling wheat

- June 25 - Japan bought 101,243 MT of food wheat for August shipments:

  • 16,755 MT of western white US wheat;
  • 29,080 MT of hard red winter US wheat;
  • 7,655 MT of dark northern spring US wheat;
  • 29,343 MT of Canadian western red spring wheat;
  • 18,410 MT of Australian standard white wheat

- Flour millers in Indonesia and the Philippines bought around 50,000 MT of US Soft White wheat at 245 $/mt c&f for August-Sept shipment

- June 18 - Egypt's GASC bought 240,000 MT of wheat from Russia (120,000 MT), Ukraine (60,000 MT) and Romania (60,000 MT) for July 25-Aug 5 shipment: 60,000 MT of Romanian wheat from Ameropa at 216.23 $/mt c&f (205.50 fob+10.73 freight);

  • 60,000 MT of Ukrainian wheat from Louis Dreyfus at 219.03 $/mt c&f (206.68 fob+12.35 freight);
  • 60,000 MT of Russian wheat from ADM at 219.13 $/mt c&f (207.90 fob+11.23 freight);
  • 60,000 MT of Russian wheat from Hakan at 219.20 $/mt c&f (206.80 fob+12.40 freight)

- June 18 - Tunisia's state grains agency bought 159,000 MT of optional-origin soft wheat:

  • 25,000 MT from Glencore at 214.98 $/mt c&f for Aug 1-15 shipment;
  • 17,000 MT from Posco at 211.98 $/mt c&f for Aug 1-15 shipment;
  • 25,000 MT from Bunge at 214.77 $/mt c&f for Aug 10-25 shipment;
  • 17,000 MT from Casillo at 216.98 $/mt c&f for Aug 10-25 shipment;
  • 25,000 MT from Bunge at 213.62 $/mt c&f for Aug 20-Sept 5 shipment;
  • 50,000 MT from Solaris Commodities SA at 214.35 $/mt c&f for Sept 1-25 shipment;

- June 19 - South Korean flour mills bought 30,000 MT of US wheat from Cargill for October shipment:

  • 10,100 MT of soft white, max 10.5% protein, at 213.59 $/mt fob;
  • 1,500 MT of soft white, max 8.5% protein, at 220.94 $/mt fob;
  • 8,800 MT of hard red winter, min 11.5% protein, at 222.60 $/mt fob;
  • 9,600 MT of (dark) northern spring, min 14% protein, at 254.21 $/mt fob

- June 18 - South Korean flour mills bought 46,800 MT of US wheat from United Grain Corp for October shipment:

  • 25,200 MT of soft white, max 10.5% protein, at 216.87 $/mt fob;
  • 1,400 MT of soft white, max 8.5% protein, at 227.60 $/mt fob;
  • 9,400 MT of hard red winter, min 11.5% protein, at 225.29 $/mt fob;
  • 10,800 MT of (dark) northern spring, min 14% protein, at 244.70 $/mt fob

- June 17 - An importer in Thailand (TFMA) bought about 60,000 MT of feed wheat from Olam at 216.5 $/mt c&f liner out for August shipment

- June 17 - Jordan has made no purchase in an international tender for 120,000 MT of optional-origin hard milling wheat

- IGC raised its forecast of 2020/21 world wheat production by 1.5 MMT to 767.6 MMT, up from the prior season's 761.9 MMT and above consumption which was seen at 751.4 MMT. Wheat stocks are predicted at an all-time high of 289.9 MMT, up from 273.6 MMT in 2019/20

- European Commission (EC) raised forecast of EU soft wheat exports by 1.5 to 34 MMT in 2019/20 (22.368 MMT in 2018/19). EC lowered its outlook for EU common wheat exports in 2020/21 to 25 MMT from 26.5 MMT previously. They also lowered its forecast of wheat production in 2020/21 to 117.2 MMT from 121.5 MMT estimated a month ago (130.9 MMT in 2019/20)

- IKAR raised its 2020 Russian wheat crop outlook to 79.5 MMT from 78 MMT previously. They also raised its forecast of Russia's 2020/21 wheat exports by 2 MMT to 37 MMT

- Ukrainian grain stocks were at 6.071 MMT as of June 1, down 22.8% from a year earlier, incl. 1.97 MMT of wheat (2.415 MMT a year ago), 692,300 MT of barley (681,000 MT a year ago) and 3.137 MMT of corn (4.426 MMT a year ago). The data does not include grain stored at small farms

- China imported about 810,000 MT of wheat in May, up 292% from the year before. January-May imports rose 67.8% to 2.44 MMT

- SAGIS estimated S. Africa's May wheat imports at 322,305 MT vs. 246,578 MT in April. Oct-May 2019/20 imports rose 78.9% on year to 1.31 MMT (732,264 MT in Oct-May 2018/19)

CORN

- June 25 - South Korea's KOCOPIA bought 60,000 MT of corn from Cofco at 189.97 $/mt c&f for October 15 arrival

- June 18 - Tunisia's state grains agency bought 50,000 MT of optional-origin feed barley:

  • 25,000 MT from Glencore at 196.23 $/mt c&f for Aug 25-Sept 15 shipment;
  • 25,000 MT from Solaris Commodities SA at 196.35 $/mt c&f for Sept 5-25 shipment

- June 18 - South Korea's Feed Leaders Committee (FLC) bought up to 69,000 MT of corn, likely from South America, from Olam at 190.33 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for October 30 arrival

- June 17 - Taiwan's MFIG bought 65,000 MT of Brazil corn from Cargill at a premium of 141.77 USc/bushel c&f over the Chicago December corn contract (190.75 $/mt, c&f) for October-November shipment

- EU lowered an import duty for corn to 4.65 euros per tonne from 10.40 euros previously. The reduced tariff, effective as of Tuesday, will also apply to rye and sorghum imports

- India has authorised imports of 500,000 MT of corn this year at a concessional 15% import tax. The country normally imposes a 60% import tax on the grain

- IGC raised its forecast of global corn production in 2020/21 by 3 MMT to 1.172 billion tonnes, up from the prior season's 1.117 BMT, but still below consumption of 1.175 billion. Corn stocks are predicted at 296 MMT, slightly down from 299 MMT in 2019/20

- EC raised its forecast of 2020 EU corn harvest to 71.9 MMT from 71.4 MMT previously (70 MMT in 2019). EC forecasts EU 2020/21 corn imports at 16.6 MMT (19.4 MMT in 2019/20)

- EC trimmed its forecast of 2020 EU barley harvest to 56.1 MMT from 56.2 MMT previously (55.1 MMT in 2019). EC forecasts EU 2020/21 barley exports at 10.8 MMT vs. 10.1 MMT in 2019/20

- China's corn imports in May came to 640,000 MT, down 14.7% from the same month of 2019. January-May imports rose 15.9% to 2.78 MMT

- China imported around 510,000 MT of barley in May, up 64% from the year before. China's Jan-May barley imports totals 1.95 MMT, down 31.8% from year-ago. Sorghum imports in May came to 270,000 MT and in January-May 2020 totals 1.09 MMT vs. about zero last year

- South Africa's Crop Estimates Committee (CEC) lowered its forecast of corn output this year to 15.514 MMT from 15.589 MMT last month, below expectations (15.574 MMT – avg., 15.3-15.72 MMT – range). It would be 37.6% more than last year (11.275 MMT in 2019)

- SAGIS estimated South Africa's corn stocks as of May 31 were at 1.339 MMT vs. 3.066 MMT a year ago

- SAGIS estimated S. Africa's May corn exports at 177,883 MT up 31.6% on year (135,215 MT in May 2019)

SOYBEAN

- June 23 - USDA announced export sales of 132,000 MT of US soybeans for delivery to China during 2020/21

- June 21 - Egypt’s GASC bought 59,000 MT of local soybean oil at 10,925 EGP/mt (675.63 $/mt) for August 10-30 arrival from Alex. Co for Seeds (25,000 MT); Watanya/Cargill (15,000 MT); El Magd Co. (5,000 MT); El Safa Co (7,000 MT); Evergreen Co (4,000 MT); Cairo 3A (3,000 MT)

- Ukrainian sunflower stocks were at 2.276 MMT as of June 1, up 5.9% from a year earlier (2.149 MMT). The data does not include grain stored at small farms

- SovEcon raised its forecast for Russia's 2020 sunflower seed crop to 14.6 MMT from 13.9 MMT. Russia harvested a record crop of 15.4 MMT a year ago

- EC lowered forecast of 2020 EU rapeseed harvest to 15.41 MMT from 15.62 MMT expected a month ago, slightly up from 15.36 MMT in 2019

- EC cut forecast of 2020 EU soybean harvest to 2.78 MMT from 2.97 MMT last month, up 3% from 2.7 MMT in 2019

- EC raised forecast of 2020 EU sunflower seed crop to 10.45 MMT from 10.29 MMT last month, up 3.7% from 10.07 MMT in 2019

- Surveyor AmSpec Agri Malaysia estimated Malaysia's June 1-25 palm oil exports at 1,401,996 MT up 35.5% from a month ago