WHEAT

- Jan 27 - Jordan seeks 100,000 MT of optional origin hard milling wheat

- Jan 22 - Tunisia seeks 92,000 MT of milling wheat for March-May shipment

- Jan 21 - Egypt's GASC bought 115,000 MT of Russian, 60,000 MT of Romanian and 60,000 MT of French wheat for February 20-March 1 delivery:

  • 60,000 MT of Romanian wheat from Ameropa at 188.03 $/mt c&f (174.88 $/mt fob+5.15 $/mt freight from National Navigation (NNC))
  • 55,000 MT of Russian wheat from BTG at 189.35 $/mt c&f (182.5 $/mt fob+6.85 $/mt freight from NNC)
  • 60,000 MT of Russian wheat from Daewoo at 190.25 $/mt c&f (182.25 $/mt fob+8 $/mt freight from Union)
  • 60,000 MT of French wheat from Soufflet at 189.09 $/mt c&f (181.5 $/mt fob+7.59 $/mt freight from NNC)

- Egypt has enough strategic wheat reserves to last until May 11

- Jan 21 - South Korean millers bought 23,200 MT of US milling wheat for April 20-May 20 delivery with prices ranging from 208 to 352 $/mt FOB

- EU in week ended January 19 granted licenses to export 511 TMT of soft wheat, bringing the total this season to 14.023 MMT vs. 15.326 MMT a year ago

- EU in week ended January 15 awarded licenses to import 41,516 MT of Ukrainian wheat under an annual duty-free quota. The award meant that the EU had now awarded 336,957 MT or 35.5% out of a total volume of 950,000 MT available in 2016

- Strategie Grains in its first forecast expects EU's 2016/17 soft wheat exports at 28.9 MMT, up from 28.1 MMT in 2015/16, mostly due to a lower exportable surplus in the Black Sea. It is still well below the record 33.34 MMT that was exported in 2013/14. Soft wheat ending stocks for the EU in 2016/17 were pegged at 14.2 MMT, down from 16.9 MMT this season, thanks to decline in production in 2016. Strategie Grains pegs the country's 2016 wheat crop at 143.1 MMT, down around 500,000 MT from last month due to winterkill in Lithuania, Latvia and Poland, and vs. 150.2 MMT last year

- Weekly US wheat export sales data for week ended January 14 of 437,200 MT, incl. 362,000 MT for 2015/16 were within analysts' expectations (200-400 TMT). Total current marketing-year US wheat export sales are 15% behind the same point last year

- Argentina's Ag Min raised its wheat harvest forecast to 11 MMT from a previous 10.9 MMT estimate

- Buenos Aires Grain Exchange raised its 2015/16 Argentine wheat crop estimate to 10.3 MMT from previous 10.1 MMT, but still down from 2014/15 crop (11.75 MMT). Harvesting of Argentine wheat crop was 99.5% completed as of Jan 21, behind of last year's pace of 100%

- SovEcon said Russia exported a record high 3.8 MMT of grain (incl. 2.7 MMT of wheat) during December, thanks to softening local currency. Grain exports will likely slip to 1.4-1.5 MMT (1.1-1.2 MMT of wheat) in January due to seasonally slower demand, but pick-up again in February-March

- International Grains Council (IGC) raised its forecast for world wheat production in 2015/16 by 4.6 MMT to 730.8 MMT, partly reflecting upwardly revisions for crops in Canada and China. Global wheat ending stocks were revised upwards by 5.2 MMT to 213 MMT (200.8 MMT in 2014/15)

- IGC said the 2016/17 wheat crop was tentatively projected to fall 3%, year-on-year, to 706 MMT, reflecting a small drop in area and predicted average yields

- Indian Food Ministry said the country's wheat stocks are at a comfortable level, with state wheat stocks at 23.8 MMT as of January 1

CORN

- Jan 22 - Tunisia seeks 50,000 MT of feed barley for March-May shipment

- India's PEC may award corn import tender to South Korea's Daewoo International. Daewoo was the lowest bidder and likely to supply corn at an average price of 193 $/mt

- Brazil's Ag Minister said the country would auction off 500,000 MT of corn from government stocks in order to ease the mounting domestic shortage

- Weekly US corn export sales data for week ended Jan 14 of 1,346,700 MT, incl. 1,157,700 MT for 2015/16 were well above market forecasts ranging from 600 to 900 TMT. Total current marketing-year US corn export sales are 27% behind the same point last year

- EU in week ended Jan 19 awarded 941 TMT of corn (maize) import certificates, taking the volume so far this season to 8.114 MMT vs. 5.003 MMT a year ago

- EU in week ended Jan 19 granted licenses to export 20 TMT of corn, bringing the total this season to 938 TMT vs. 1.496 MMT a year ago

- EU in week ended Jan 19 granted licenses to export 155 TMT of barley, bringing the total this season to 5.918 MMT vs. 4.479 MMT a year ago

- Strategie Grains decreased its 2016 EU corn crop estimate to 64.6 MMT down 300,000 MT from previous estimate, but still up 13% from the drought-affected 2015 harvest (57.4 MMT)

- Argentina's Ag Min raised its corn planting forecast for the 2015/16 crop to 5.69 million hectares from an earlier estimate of 5.40 mln ha, but they include corn for fodder

- Buenos Aires Grain Exchange estimated Argentine corn planting 92.5% done as of Jan 21 vs. 91.6% a year ago. The exchange estimated corn planting area at 3.1 mln ha vs. 3.4 mln ha in 2014/15

- Buenos Aires Grain Exchange forecasts 2015/16 Argentine barley crop at 4.25 MMT, a 49% growth from 2014/15 (2.85 MMT). Harvesting of Argentine barley crop was 100% completed as of Jan 21

- IGC cut its forecast for world corn (maize) production in 2015/16 by 7.8 MMT to 959.5 MMT, mainly due to poorer harvests in India and drought-hit South Africa. IGC decreased its forecast for 2015/16 global corn carryover by 4.1 MMT from last month to 196.4 MMT (204.9 MMT in 2014/15)

- US Ethanol production for the week ended Jan 15 fell by 20,000 barrels to 983,000 barrels per day, it is up 0.4% from last year's level of 979,000 bpd. Stocks climbed by 595,000 barrels to 21.94 million barrels, and up 7.6% vs. 20.387 million barrels a year ago

- Jan 22 - Indonesia has reversed a decision to impose 10% value added tax (VAT) on most of its poultry and cattle businesses

SOYBEAN

- Weekly US soybean export sales data for week ended Jan 14 of 1,012,200 MT, incl. 985,100 MT for 2015/16 were in line with market expectation (700-1,000 TMT). Total current marketing-year US soybean export sales are 9% behind the same point last year

- IGC raised its global 2015/16 soybean production forecast by 0.5 MMT to 321.5 MMT (321.0 in 2014/15), on improved prospects for Argentine crops, but lowered global carryover by 2.6 MMT from last month to 44.1 MMT (43.4 MMT in 2014/15)

- Buenos Aires Grain Exchange estimated Argentine soybean planting 98.4% done as of Jan 21 vs. 98.2% a year ago. The exchange estimated soybean planting area at 20.1 mln ha vs. 20 mln ha in 2014/15. The exchange also gave its first 2015/16 soy crop forecast at 58 MMT vs. 60.8 MMT in 2014/15

- Buenos Aires Grain Exchange forecasts 2015/16 Argentine sunflower crop at 2.3 MMT, down 8% from 2014/15 crop (2.5 MMT). Harvesting of Argentine sunseed crop was 18.5% completed as of Jan 21, ahead of last year's pace of 11.5%

- Philippines is set to issue new rules next month on GMO imports, seeking to avert food supply disruptions as import permits for animal feed expire this year. In December, the country's Supreme Court struck down a 2002 government regulation that allowed the import of GMO and imposed a temporary ban until new rules were formulated. The order covers imports of corn, soybeans, soybean meal and sorghum, among others. The biggest impact would be on soymeal, the Philippines' top GMO import at 2 MMT a year. For now, existing import permits remain valid, although no new ones will be issued as they expire

- Indonesia says it may not have enough money to subsidize the biodiesel mandate for all of 2016 with the drop in crude petroleum prices but said that biodiesel demand could reach 6.93 MMT versus their previous estimate of 4 MMT