WHEAT

- Weekly US wheat export sales data for week ended December 17 of 370,300 MT for 2015/16 were the largest in three weeks and within analyst expectations (250-450 TMT). Total current marketing-year US wheat export sales are 15% behind the same point last year

- Morocco announced a cut of soft wheat import duty from 50% to 30% due to late rains threatening the 2016 harvest, despite a record grain crop of 11 MMT (incl. 5.2 MMT of soft wheat) in 2015

- Russian grain exporters have resumed deals with Turkish buyers after a short break caused by deterioration in relations between the two countries

- Euronext still plans to retain only one wheat futures contract in the medium term, but could choose its older No. 2 version in the face of minimal liquidity in its recently launched No. 3 contract

CORN

- Weekly US corn export sales data for week ended Dec 17 of 803,600 MT for 2015/16 were above market forecasts ranging from 500 to 700 TMT. Total current marketing-year US corn export sales are 25% behind the same point last year

- Chinese import quotas may be distributed to end users next week

SOYBEAN

- Dec 24 - USDA announced export sales of 100,000 MT of US soybeans for delivery to unknown destinations during 2016/17

- Weekly US soybean export sales data for week ended Dec 17 of 2,069,800 MT, incl. 2,069,700 MT for 2015/16 were much stronger than expected (900 TMT-1.1 MMT). Total current marketing-year US soybean export sales are 11% behind the same point last year

- Iraq plans to reduce government imports of cooking oil from Turkey due to political tensions between the two countries. Turkey has been supplying all the cooking oil for the Iraqi trade ministry's food rationing programme for several years