Australia wheat crop seen slightly smaller than last year - attache

Australian wheat production in 2016/17 (Oct-Sept) is forecast at 24 million metric tons, slightly smaller than this year 24.5 million, according the latest USDA attache report.

“Production of wheat in western Australia is expected to reach normal assuming average rains, whle Victoria is still recovering from a series of dry, hot seasons,” the report said.

Exports are forecast at 17.5 million tons, up from 17 million in the current year.

Wheat in Australia, soybeans in China and corn in France.

“Australia faces greater competition in some of its traditional markets such as Indonesia, where Black sea exporters have doubled their share of the Indonesian import market, with a 16% share in 2015 compared to Australia’s 58% market share,” the report said.

China imports record 260 million bushels of soybeans in April – Reuters

China imported 7.07 million metric tons (260 million bushels) of soybeans in April, the most ever for an April and up 33% from a year ago, according to a Reuters story that used government released data.

For the first four months of 2016, soybean imports are up 11.4% from a year ago. China processes the soybeans into soybean meal and soybean oil. Demand for soymeal has increased to feed China’s hog herd.

France to plant 5% less corn in 2016 – Reuters

France's farm ministry estimates the area sown with maize (corn) will fall 4.7% this year to 1.49 million hectares (3.68 million acres), which would be down 9.7% from the five-year average, according to a Reuters’ story

Its first estimate for the 2016 maize area, the ministry said sowings, like sunseed and sorghum, had been delayed by cool and wet weather.

“The European Union's largest maize producer saw a drop in area last year, which was amplified by poor yields hit by dry weather at key development stages,” the story said.

The ministry’s estimates were unchanged for other major grains, oilseed and sugar beet. Soft wheat was slightly lifted to 5.25 million hectares (13 million acres) from the 5.24 million (12.9 million acres) in April and up 1.4% compared with 2015. It would be the fourth consecutive year of a rise in wheat area, now 5% above the five-year average.

Global Hot Spots - April 29, 2016 - Dry weather may cut Brazil's corn crop

Global Hot Spots - April 22, 2016 - Less wheat in Canada