WHEAT

- Jan 20 - Japan bought 26,855 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 27

- Jan 19 - South Korea's MFG bought 55,000 MT of Argentine feed wheat for mid-March-mid-April shipment at 181 $/mt c&f

- Jan 19 - Philippines bought 110,000 MT of feed wheat, likely Argentine, from Invivo at 177 $/mt c&f in two consignments of 55,000 MT for Mar-Apr shipment

- Jan 20 - Russia bought 29,160 MT of intervention grain (all wheat) via tender on the NTB (Moscow Exchange). Making the total bought since Aug 20 at 1,404,270 MT of Russian grain (1,366,065 MT of wheat, 17,685 MT of rye and 20,520 MT of barley). Separately Russia bought 59,046 MT of Crimean wheat in intervention fund between Aug 19-Dec 29 via tenders on Crimean Exchange

- News that Iran's state grain buying agency (GTC) is considering a 2 MMT cut in its strategic wheat reserves, to 3 MMT, after the lifting of sanctions to save on storage costs, added bearish factor as it suggested it might not need to import in the near term. Main wheat suppliers to remain Germany, Russia and Kazakhstan

- Informa Economics estimated US wheat plantings for the 2016 harvest at 51.1 million acres, down 6.4% versus 54.6 mln acres from the USDA last year, including spring wheat at 12.7 mln acres vs. 13.2 mln in 2015

- US wheat export inspections for week, ending January 14, recorded 340,842 MT, near the low end of market forecasts (300-450 TMT). Inspections for 2015/16 are running 10.5% behind year-ago

CORN

- Jan 19 - USDA announced export sales of 110,500 MT of US corn for delivery to unknown destinations during 2015/16

- India extended the offer period to Jan 21 in its tender to buy 290,000 MT of GMO-free corn

- Indonesia's Bulog will import 100,000 MT of corn this month in its first shipment of the maize in a decade. Bulog plans import 600,000 MT of corn in the first quarter of 2016 - 100,000 MT will be shipped in January, 200,000 MT in February and 300,000 MT in March

- Agroconsult lowered its estimate for Brazil's first corn crop to 27.9 MMT from 28.5 MMT previous and second (safrinha) crop to 57.7 MMT from 60 MMT previously for a total production of 85.6 MMT

- Dr. Michael Cordonnier left his Brazilian 2015/16 corn production estimate unchanged at 81.2 MMT (85.4 MMT in 2014/15), but raised his Argentine corn crop forecast by 2 MMT to 23.6 MMT (25.5 MMT in 2014/15)

- Dr. Michael Cordonnier increased his estimate of South America's 2015/16 corn crop by 2 MMT to 109.1 MMT, still down from 115.1 MMT in 2014/15

- Informa Economics cut its forecast for US corn plantings to 88.869 mln acres from 88.926 mln acres previously, but still above than 87,999 mln acres in 2015

- US corn export inspections for week, ending Jan 14, reported 581,479 MT, within analysts' estimates (450-600 TMT). Inspections for 2015/16 are running 20.6% behind year-ago

- Zambia plans to import maize from South America as drought is expected to cut the 2015/16 maize crop by a third. Zambia's maize stocks would only last until June

- South African competition authorities would investigate allegations that soaring maize prices were being manipulated by traders; white maize futures hit record high. South Africa to release first 2016 crop estimate next week, one month earlier than originally planned due to drought

- French traders are estimating that the bird flu (suspending duck and geese output) will cut the country's corn consumption by at least 100,000 MT

SOYBEAN

- Jan 19 - Philippines bought 124,720 MT of soybean meal from Argentina and US:

  • 44,540 MT of US soymeal from Bunge at a basis price of $38 c&f over March contract for Mar-Apr shipment
  • 38,980 MT of Argentine soymeal from Concordia at a basis price of $19.25 c&f over May contract for Mar-Apr shipment
  • 41,200 MT of Argentine soymeal from Concordia at a basis price of $17.25 c&f over May contract for Apr-May shipment

- Informa Economics raised its outlook for US soybean plantings to a record 85.23 mln acres, from an earlier forecast of 84.537 mln acres and vs. 82.65 mln acres in 2015

- US soybean export inspections for week, ending Jan 14, reported 1,395,220 MT, topping trade expectations (1.0-1.3 MMT). Inspections for the 2015/16 marketing year are running 11.1% behind year-ago

- Agroconsult cut its Brazilian 2015/16 soybean crop forecast to 99.2 MMT from 100.6 MMT in October

- Dr. Michael Cordonnier left his Brazilian 2015/16 soybean production estimate unchanged at 97 MMT (96.2 MMT in 2014/15), but raised his Argentine soybean crop forecast by 1 MMT to 59 MMT (60.8 MMT in 2014/15)

- Dr. Michael Cordonnier lifted his estimate of South America's 2015/16 soybean crop by 1 MMT to 171.3 MMT, still slightly down vs. 171.5 MMT in 2014/15

- Argentina lifts this week soybean import barriers from Paraguay and Brazil, in order to keep idle plants running in Jan-Feb when local supplies tight

- Surveyor SGS estimated Malaysia's Jan 1-20 palm oil exports at 666,288 MT down 10.5% from a month ago

- Surveyor Intertek Testing Services estimated Malaysia's Jan 1-20 palm oil exports at 666,816 MT down 8.5% from a month ago

- GAPKI expects Indonesia's 2016 palm oil exports first drop in 5 years to 23-24 MMT, down 9% on year, due to increase in domestic usage to blend into biodiesel

- GAPKI lifted its forecast for Indonesia's 2016 palm oil output to 35 MMT from 33.5 MMT earlier, and versus 32.5 MMT in 2015

- MPOB forecasts Malaysia's 2016 palm oil output at 20.1 MMT vs. 19.96 MMT in 2015

- Citigroup cut its Brent crude oil price forecast for 2016 to $40 per barrel