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WHEAT

- Feb 19 - Libya seeks 100,000 MT of milling wheat and 50,000 MT of durum wheat for Apr-May shipment

- Feb 16 - Morocco’s ONICL bought 263,636 MT of EU soft wheat for arrival by April 30 under a preferential tariff agreement

- Feb 16 - Japan bought 113,248 MT of food wheat for Mar-May shipments:

  • 9,080 MT of western white US wheat;
  • 43,940 MT of hard red winter US wheat;
  • 35,268 MT of dark northern spring US wheat;
  • 24,960 MT of Canadian western red spring wheat

- Feb 16 - Iraq cancelled an international tender to buy at least 50,000 MT of hard wheat with no purchase made. The tender is now expected to take place on February 26, but for only three origin wheat: the US, Canada and Australia

- Feb 15 - Argentina grants export licenses for 29,540 MT of milling wheat

- Weekly US wheat export sales data for week ended Feb 9 totalled 588,600 MT, incl. 569,100 MT for 2016/17 (topped trade expectations for 300-500 TMT). Export commitments for 2016/17 are running 39% ahead of year-ago

- EU in week ended February 10 awarded licenses to import 13,224 MT of Ukrainian wheat under an annual duty-free quota. The award meant that the EU had now awarded 82% (785,746 MT) out of a total volume of 960,000 MT available in 2017

- According to TAXUD, the EU this season in period of Jul 1-Feb 14, 2016/17 exported 15.541 MMT of soft wheat compared to 16.845 MMT a year ago

- Strategie Grains kept its forecast for the 2017 soft wheat harvest in the EU at 143.8 MMT (135.7 MMT in 2016). EU soft wheat exports in 2017/18 were projected at 26.4 MMT, slightly down from previous forecast of 26.5 MMT in January, but up from 23 MMT expected in 2016/17

CORN

- Feb 19 - Libya seeks 75,000 MT of yellow corn for Apr-May shipment

- Feb 19 - Libya seeks up to 75,000 MT of feed barley for Apr-May shipment

- Feb 16 - South Korea’s KFA (Korean Feed Association) rejected all offers in tender for up to 65,000 MT of worldwide-origin corn for May arrival, citing high prices, with the lowest offer coming in at 197.6 $/mt c&f plus a 1.0 $/mt surcharge for additional port unloading, followed by offers of 198.8-198.84 $/mt c&f for optional origins; the lowest offer for US corn was 200.2 $/mt c&f; Black Sea region origin was offered at 202.5 $/mt c&f

- Feb 15 - Argentina grants export licenses for 62,500 MT of barley

- Weekly US corn export sales data for week ended Feb 9 of 1,068,700 MT, incl. 783,500 MT for 2016/17 (below trade expectations for 900-1100 TMT) and 285,200 MT for 2017/18 (well above trade estimates of 0-150 TMT). Export commitments for 2016/17 are running 63% ahead of year-ago

- EU in week ended Feb 10 awarded licenses to import 9,150 MT of Ukrainian barley under an annual duty-free quota. The award meant that the EU had now awarded 10.35% (27,950 MT) out of a total volume of 270,000 MT available in 2017

- EU this season in period of Jul 1-Feb 14, 2016/17 imported 6.768 MMT of corn (maize) vs. 8.817 MMT a year ago

- EU this season in period of Jul 1-Feb 14, 2016/17 exported 1.719 MMT of corn vs. 1.175 MMT a year ago

- EU this season in period of Jul 1-Feb 14, 2016/17 exported 2.916 MMT of barley vs. 6.832 MMT a year ago

- EU this season in period of Jul 1-Feb 14, 2016/17 exported 1.822 MMT of malt in barley equivalent vs. 2.038 MMT a year ago

- Strategie Grains upped its forecast of total EU barley production in 2017 by 100,000 MT to 61.3 MMT, up 2% from last year (59.9 MMT in 2016). It cut its export forecast to 7.8 MMT from 8.7 MMT last month but still well above the 4.7 MMT forecast for the current 2016/17 season

- Strategie Grains raised its outlook for EU grain maize production in 2017 by 100,000 MT to 61.4 MMT, up 3% from last year (59.6 MMT in 2016)

- FAO said that up to 130,000 hectares of corn crops could be affected by an outbreak of armyworms in Zimbabwe, compared to a reported 90,000 hectares in Zambia and 50,000 hectares in Namibia

- US Ethanol production for the week ended Feb 10 fell by 15,000 barrels to 1,040,000 barrels per day, up 6.7% from last year's level of 975,000 bpd. Stocks climbed by 415,000 barrels from the week prior to 22.5 million barrels, down 3.1% vs. 23.218 million barrels a year ago

SOYBEAN

- Feb 19 - Libya seeks 25,000 MT of soymeal for Apr-May shipment

- Feb 15 - Egypt's GASC cancelled vegetable oils tender to buy 30,000 MT of soybean oil for arrival until March 30, without explanation of reason. They received offers from two companies:

  • Glencore: 30,000 MT of soybean oil at 846 $/mt c&f and/or 30,000 MT of sunflower oil at 799 $/mt c&f for March arrival and/or 30,000 MT of soybean oil at 820 $/mt c&f for April arrival
  • ADM: 30,000 MT of soybean oil at 852 $/mt c&f or 10,000 MT of sunflower oil at 809 $/mt c&f for March arrival or 30,000 MT soybean oil at 827 $/mt c&f for April arrival

- Weekly US soybean export sales data for week ended Feb 9 of 1,097,400 MT, incl. 890,000 MT for 2016/17 (topped trade estimates of 500-750 TMT) and 207,400 MT for 2017/18 (above trade estimates of 50-150 TMT). Export commitments for 2016/17 are running 24% ahead of year-ago

- NOPA said its members crushed 160.621 million bushels of soybeans during January, more than expected (159.141 million bu – avg., 156.972-162 mln bu – range) and higher than a year earlier. NOPA processors crashed 160.176 mln bu in December and 150.453 mln bu a year ago. Soyoil stocks rose to 1.629 billion lbs as of January 31 from 1.434 a month earlier, above the average expectations of 1.51 billion lbs, and vs. last year’s level of 1.582 billion lbs. Soymeal exports decreased to 891,143 tons from 949,615 tons in Dec but above than 686,493 tons a year-ago

- EU this season in period of Jul 1-Feb 14, 2016/17 imported 8.229 MMT of soybeans vs. 8.566 MMT a year ago

- EU this season in period of Jul 1-Feb 14, 2016/17 imported 11.348 MMT of soymeal vs. 13.355 MMT a year ago

- EU this season in period of Jul 1-Feb 14, 2016/17 imported 179,494 MT of soybean oil vs. 208,124 MT a year ago

- EU this season in period of Jul 1-Feb 14, 2016/17 imported 2.109 MMT of rapeseed vs. 2.127 MMT a year ago

- EU this season in period of Jul 1-Feb 14, 2016/17 imported 138,432 MT of rapeseed meal vs. 333,906 MT a year ago

- EU this season in period of Jul 1-Feb 14, 2016/17 imported 112,307 MT of rapeseed oil vs. 167,427 MT a year ago

- EU this season in period of Jul 1-Feb 14, 2016/17 imported 631,658 MT of sunflowerseed vs. 212,476 MT a year ago

- EU this season in period of Jul 1-Feb 14, 2016/17 imported 1.959 MMT of sunflower meal vs. 1.781 MMT a year ago

- EU this season in period of Jul 1-Feb 14, 2016/17 imported 778,600 MT of sunflower oil vs. 717,252 MT a year ago

- EU this season in period of Jul 1-Feb 14, 2016/17 imported 3.611 MMT of palm oil vs. 4.254 MMT a year ago

- Argentina's government plans to return 5 percentage points of the 30% export tax it charges on soybeans to producers in the northeast. The benefit will apply to the first 2,000 MT of the crop each farmer or company sells between March and August

Grain-Ukraine

Agrimoney