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WHEAT

- Jan 31 - CCC seeks 34,000 MT of HRW wheat for donation to Ethiopia for Feb-Mar shipment

- Jan 26 - Tunisia's state grains agency bought 100,000 MT of optional-origin durum wheat for Mar 5-Apr 25 shipment at 308.69 $/mt c&f, 309.68 $/mt c&f, 309.69 $/mt c&f and 310.68 $/mt c&f

- Jan 25 - Algeria's OAIC bought at least 510,000 MT of optional-origin milling wheat, likely most from Argentina and France, for March-April shipment:

  • 120,000 MT from Dreyfus at 220.5 $/mt c&f;
  • 120,000 MT from Lecureur at 220 $/mt c&f;
  • 60,000 MT from Cofco at 220 $/mt c&f;
  • 90,000 MT from Soufflet at 219.5 $/mt c&f;
  • 60,000 MT from Cargill at 219 $/mt c&f;
  • 60,000 MT from Casillo at 219 $/mt c&f

- Jan 26 - Argentina registered 101,000 MT of wheat for export

- Jan 24 - CCC cancelled a tender for 46,000 MT of white wheat, 11% protein, for donation to Bangladesh for March

- Weekly US wheat export sales data for week ended Jan 18 totalled 453,700 MT, incl. 427,200 MT for 2017/18 (within trade expectations of 200-500 TMT). Export commitments for 2017/18 are running 11% behind of year-ago

- Russia’s Ag Min said Russia exported about 29.796 MMT of grain between July 1-Jan 24, 2017/18, up by 34.9% from 22.091 MMT a year ago, including:

  • wheat – 23.258 MMT (17.215 MMT in 2016/17);
  • barley – 3.675 MMT (1.953 MMT);
  • corn – 2.661 MMT (2.774 MMT)

- Russia has 3,966,700 MT of grain in its federal intervention fund as of Jan 26 vs. 4,039,900 MT a year-ago

- Russian grain stocks were at 45.899 MMT as of Jan 1, 2018, up 16.3% from a year earlier (39.467 MMT as of Jan 1, 2017). The data does not include grain stored at small farms

- European Commission (EC) cut its estimate for 2017 EU usable soft wheat production to 141.5 MMT from 142.0 MMT last month (133.9 MMT last year). EU's executive lowered its EU soft wheat exports forecast by 0.5 MMT to 25.5 MMT in 2017/18, still up from 25.2 MMT in 2016/17. Soft wheat inventories in the region are forecasted to total 12.7 MMT (12.9 MMT – previous estimate) by the end of June 2018 vs. 10.1 MMT in 2016/17

- Argentina's Ag Min raised its estimate of 2017/18 wheat production by 0.5 MMT to 18.5 MMT, up 0.6% from 18.39 MMT in 2016/17. Estimate of wheat exports in 2016/17 (Dec16-Nov17) was upped from 12.5 to 12.6 MMT and vs. 8.54 MMT in previous season. Exports in current season 2017/18 are forecasted at 11 MMT

- China's December 2017 wheat imports down 19% on year to 181,031 MT. China's full-year wheat imports rose 27.3% on year to 4.296 MMT (main suppliers: Australia (1.899 MMT), US (1.555 MMT), Canada (523 TMT) and Kazakhstan (301 TMT))

CORN

- Jan 31 - Jordan seeks 100,000 MT of optional-origin feed barley for Jul-Aug shipment

- Jan 31 - CCC seeks 37,750 MT of sorghum for donation to Djibouti for Feb-Mar shipment

- Jan 26 - USDA announced export sales of 125,000 MT of US corn for delivery to unknown destinations during 2017/18

- Jan 26 - Argentina registered 51,711 MT of corn for export

- Jan 25 - Algeria's OAIC did not make any purchase in its feed barley tender due to too-high prices

- Weekly US corn export sales data for week ended Jan 18 of 1,531,000 MT, incl. 1,445,900 for 2017/18 (well above trade expectations of 900-1250 TMT). Export commitments for 2017/18 are running 22% behind of year-ago

- European Commission (EC) trimmed its 2017 EU corn harvest estimate to 64.5 MMT from 64.6 MMT last month (62.8 MMT in 2016). Projected imports in new season was upped by 0.6 MMT to 13.6 MMT (13.6 MMT in 2016/17). EC raised its forecast for 2017/18 corn ending stocks to 18.9 MMT from 18.4 MMT previously (17.6 MMT in 2016/17)

- EC lowered its 2017 EU barley harvest outlook to 58.6 MMT from 58.8 MMT last month, down from 59.4 MMT in 2016. Projected exports in new season were kept unchanged from prior month at 7 MMT (8.8 MMT in 2016/17). EC trimmed its forecast for 2017/18 barley ending stocks to 6.7 MMT from 6.8 MMT previously and vs. 5.6 MMT in 2016/17

- Argentina's Ag Min lowered its 2017/18 corn acreage estimate to 8.7 million ha from 8.8 mln ha in Dec, up 2.6% from 8.48 mln ha in 2016/17. Forecast of corn exports in 2016/17 (Mar 2017-Feb 2018) was lowered by 1.5 MMT to 26 MMT vs. 21.45 MMT in previous season

- Argentina's Ag Min raised its estimate of 2017/18 barley production to 3.6 MMT from 2.8 MMT in Dec, up 9.1% from 3.3 MMT in 2016/17. Estimate of barley exports in 2016/17 (Dec-Nov) was upped by 0.15 to 2.55 MMT, but down from 3.1 MMT in previous season. Exports in current season 2017/18 are forecasted at 1.75 MMT

- Argentina's Ag Min lowered its sorghum acreage estimate for the 2017/18 to 700,000 hectares from 710,000 ha in December, down 3.9% from 728,280 ha in 2016/17

- China is soaking up almost all of Australia's barley exports due to rising livestock feed demand and the trend could continue. China now buys 80-90% of Australian barley exports

- China imported 454,151 MT of corn last month, up 221.1% from the year-ago level. For the full year of 2017, China has imported 2.826 MMT of corn, down 10.8% from year-ago (main suppliers: Ukraine (1.822 MMT), US (757 TMT), Laos (151 TMT) and Myanmar (93 TMT))

- China imported 5,993 MT of distillers' dried grains (DDGS) in December, down 91.4% from a year-ago. China's Jan-Dec 2017 DDGs imports fell 87.3% on year to 390,790 MT, mainly from US

- China's December ethanol imports fell almost 100% year on year to only 33 cubic metres. Imports for the full year of 2017 were down 97.2% to 24,964 cubic metres, mainly from US

- China's December 2017 barley imports rose 43.7% on year to 581,280 MT. China's full-year barley imports increased by 77.1% on year to 8.863 MMT (main suppliers: Australia (6.48 MMT), Canada (1.359 MMT), Ukraine (791 TMT) and France (223 TMT))

- China imported 157,834 MT of sorghum in December, down 19.7% from a year-ago. China's Jan-Dec 2017 sorghum imports fell 23.9% on year to 5.057 MMT, mainly from US and Australia

- China imported 774,822 MT of cassava in December, up 11.4% from a year-ago. China's Jan-Dec 2017 cassava imports rose 5.5% on year to 8.128 MMT

SOYBEAN

- Feb 27 - Iran seeks 30,000 MT of RBD palm olein

- Jan 26 - Argentina registered 45,000 MT of soymeal for export

- Jan 26 - China sold 46,295 MT of rapeseed oil from state reserves or almost 100% of the offered amount (46,307 MT) at auction at an average price of 6,343 RMB/mt (1003 $/mt)

- Weekly US soybeans export sales data for week ended Jan 18 of 759,400 MT, incl. 616,300 MT for 2017/18 (below the expectations of 850-1200 TMT). Export commitments for 2017/18 are running 13% behind of year-ago

- Argentina's Ag Min lowered its soybean acreage estimate for the 2017/18 to 16.75 million hectares from 16.8 mln ha in December, down 6.9% from 18 mln ha in 2016/17. Soybean exports forecast for 2016/17 (Apr 2017-Mar 2018) was lowered to 8 MMT from 8.5 MMT in Dec (9 MMT in 2015/16). Soybean crushing forecast was lowered, while ending stocks were upped

- Argentina's Ag Min cut its estimate of sunflower seed planting for the 2017/18 to 1.695 million hectares from 1.715 mln ha in Dec, down 8.9% from 1.86 mln ha in 2016/17. Estimate for sunseed crush in 2016/17 (Jan-Dec 2017) lowered from 3.45 to 3.15 MMT vs. 2.75 MMT previous season

- China imported 9,547 MMT of soybeans during December 2017 up 6.1% from year-ago. China's Jan-Dec soybean imports rose 13.8% on year to 95.526 MMT (main suppliers: Brazil (50.927 MMT), US (32.856 MMT), Argentina (6.582 MMT), Uruguay (2.573 MMT), Canada (2.048 MMT) and Russia (496 TMT))

- China's December 2017 soy oil imports fell 11.4% from year-ago levels to 32,527 MT. China's Jan-Dec soy oil imports rose 16.6% on year to 653,436 MT (main suppliers: Brazil (339 TMT), Russia (128 TMT), US (83 TMT) and Ukraine (64 TMT))

- China's December 2017 rapeseed imports up 36.7% on year to 329,725 MT. China's full-year rapeseed imports rose 33.2% on year to 4.748 MMT

- China's December 2017 rapeseed oil imports fell by 3.4% on year to 59,154 MT. China's Jan-Dec rapeseed oil imports increased 8.1% on year to 757,007 MT, mainly from Canada

- China's December rapeseed meal imports fell by 30.2% on year to 55,924 MT. Imports for the full year of 2017 were up 91.7% on year to 965,326 MT, mainly from Canada

- China's December fishmeal imports rose by 29.4% on year to 50,000 MT. Imports for the full year of 2017 were up 51.6% on year to 1.57 MMT

- China's December 2017 palm oil imports down 16.5% on year to 567,077 MT. China's full-year palm oil imports rose 13.4% on year to 5.079 MMT (main suppliers: Indonesia (3.215 MMT) and Malaysia (1.862 MMT))

- China's December 2017 sunflower oil imports down 45.1% on year to 82,800 MT. China's full-year sunflower oil imports fell 22.1% on year to 745,104 MT (main suppliers: Ukraine (584 TMT), Russia (121 TMT) and Kazakhstan (21 TMT))

IGC GRAINS CONFERENCE 2018

AGRICRUISE18