WHEAT

- Jan 26 - Bangladesh seeks 50,000 MT of wheat

- Jan 13 - South Korea's Daehan Flour Mill Co Ltd seeks a total of 80,600 MT of Australian wheat:

  • 37,360 MT of Australian standard white wheat (10.3-11.0% protein) for June 16 arrival
  • 2,640 MT of Australian hard wheat (min. 11.5% protein) for June 16 arrival
  • 36,040 MT of Australian standard white wheat (10.3-11.0% protein) for June 30 arrival
  • 4,560 MT of Australian hard wheat (min. 11.5% protein) for June 30 arrival

- Jan 13 - Japan bought 13,000 MT of feed wheat for March arrive via SBS-tender. New SBS tender for 120,000 tons of feed wheat and 200,000 tons of feed barley will be held on January 20, 2016

- USDA raised global 2015/16 wheat production estimate to around 735.4 MMT, up by 0.5 MMT from previous estimate, due to larger crops in the EU, Pakistan, and Russia. Lower production in both Brazil and Uruguay are partly offsetting. Global trade is nearly unchanged. Brazil and Uruguay's exports are lowered on account of tightening supplies, while Pakistan, Paraguay, and Turkmenistan are up on reports of higher sales. US imports are cut to reflect the slow pace of shipments from Canada. USDA raised its outlook for world ending stocks of wheat by 2.2 MMT to a new record of 232.04 MMT (212.79 in 2014/15), well above market forecasts (229.6 – avg. guess, 228.00-231.11 - range), largely due to increase in Pakistan and the US

- US Dec 1 wheat stocks figure of 1.738 billion bushels was a five-year high and came in 40 million bushels above market expectations

- USDA pegged US winter wheat seedings at 36.609 million acres, below a range of trade estimates (38.25-40.796, avg. - 39.32 mln acres) and the smallest figure since 2010

- Conab trimmed its Brazil's 2015/16 wheat crop estimate by 100,000 MT from last month to 5.5 MMT

CORN

- Jordan seeks 100,000 MT of optional origin feed barley

- USDA lowered its 2015/16 global corn production estimate by 5.9 MMT, with smaller forecasts for South Africa (-4 MMT to 8 MMT), the US (-1.33 MMT to 345.49 MMT), Russia (-0.5 MMT to 13 MMT) and China (-0.42 MMT to 224.58 MMT), more than offsetting bigger crops in Ukraine (+0.5 MMT to 23.5 MMT). USDA projects global corn production in 2015/16 at 967.93 MMT vs. 1,008.52 MMT in 2014/15. Global trade is up slightly, highlighted by larger imports for South Africa. Exports for Argentina, Brazil, Mexico, and Ukraine are boosted, more than offsetting lower exports for the United States and South Africa. USDA lowered its global 2015/16 world corn stock estimate to 208.94 MMT from December estimate of 211.85 MMT, below the range of expectation 209.9-218.5 MMT (212.51 MMT- avg.) but still record high

- USDA lowered its estimate of US corn production and reported quarterly stocks slightly below an average of analyst expectations. US corn stocks as of Dec 1, 2015 stood at 11.212 billion bushels, slightly above the 11.211 billion of December 2014 and the biggest ever for the period, but below an average of analyst expectations of 11.237 billion bu. US corn ending stocks for 2015/16 were surprisingly raised to 1.802 billion bushels from 1.785 billion bushels despite the smaller harvest view, due to a 50-million bushel cut to exports, an increase in imports and a decrease in usage

- China officially announces it will conduct a one-year anti-subsidy and antidumping investigation on US distillers dried grains (DDG). China imported a record 6.4 MMT of US DDGs between January and November, but Chinese importers scaled back their purchases in recent months

- Conab raised its Brazil's 2015/16 corn crop estimate by 300,000 MT from December to 82.3 MMT. The agency expects a first crop of 27.76 MMT and a second (safrinha) crop of 54.56 MMT

- Dr. Michael Cordonnier left his Brazilian and Argentine 2015/16 corn crop estimates unchanged at 81.2 MMT (85.4 MMT in 2014/15) and 21.6 MMT (25.5 MMT in 2014/15), respectively

- Dr. Michael Cordonnier left his estimate of South America's 2015/16 corn crop at 107.1 MMT unchanged from previous estimate and vs. 115.1 MMT in 2014/15

SOYBEAN

- Jan 12 - USDA announced export sales of 140,000 MT of US soybeans for delivery to unknown destinations during 2015/16

- USDA decreased its forecast of global soybean production in 2015/16 by 1.1 MMT to 319 MMT (318.8 MMT in 2014/15), as lower estimates for the US and South Africa more than offset larger production in China. Exports are raised on higher shipments from Argentina and Canada more than offsetting reduction for the United States. Global stocks are lowered this month, reflecting smaller crops as well as higher global crush. USDA decreased its forecast of global 2015/16 soybean stocks to a still record 79.28 MMT, down 3.3 MMT from Dec and below market expectation (82.57 – avg. guess, 80.77-84 – range)

- USDA lowered its estimate of the US soybean harvest and its forecast of US 2015/16 ending stocks, and reported Dec 1 soybean stocks below the average trade estimate. Soybean stocks were 2.715 billion bushels, up from 2.528 billion a year earlier and outstripping the previous record of 2.701 billion set in December 2006, but slightly below an average of analyst expectations of 2.720 billion bu

- China imported 9.12 MMT of soybeans in December, up 23.4% from 7.39 MMT in November and 6.9% increase from year-ago. China imported a record high of 81.69 MMT of soybeans from January to December, a 14.4% increase over year-ago

- Conab trimmed its Brazil's 2015/16 soybean crop estimate by 400,000 MT to 102.1 MMT, which would still be a record-large crop

- Dr. Michael Cordonnier left his Brazilian and Argentine 2015/16 soybean crop estimates unchanged from last week at 97.0 MMT (96.2 MMT in 2014/15) and 58.0 MMT (60.8 MMT in 2014/15), respectively

- Dr. Michael Cordonnier left his estimate of South America's 2015/16 soybean crop at 170.3 MMT unchanged from previous estimate and vs. 171.5 MMT in 2014/15

- India develops new rapeseed variety to help cut veg oil imports