WHEAT

- Jan 27 - Japan bought 1,390 MT of feed grain (incl. 620 MT of wheat and 770 MT of barley) for March 11 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 February 3

- Jan 26 - The lowest offer in Bangladesh's tender for 50,000 MT of wheat came in at 211.45 $/mt CIF liner out from Switzerland's ADM International. Other offers: 213.75 $/mt from Olam and 213.87 $/mt from Aston. In its previous tender of Jan 10-20, Bangladesh bought 50,000 MT of wheat at 215.87 $/mt cif from ADM

- Egypt's Ag Min said it would continue to reject all shipments of wheat containing any amount of ergot. Meanwhile ministry of supply maintains that imports of wheat may contain up to a 0.05% level of ergot

- Egypt's GASC says it has not yet been alerted of a final decision on whether a French wheat shipment containing trace levels of the fungus ergot would be allowed into the country. The shipment that initially arrived in December was at first rejected due to the presence of the fungus and was retested, despite the levels of ergot complied with those permitted by the ministry of supply

- Canada overtook the US in 2014/15 in wheat export volumes for the first time, exporting 24.1 MMT. It is forecast to fall short of eclipsing US shippers in 2015/16, with both countries trailing top exporter Russia

- Jan 27 - Russia bought 19,845 MT of intervention grain (all wheat) via tender on the NTB (Moscow Exchange). Making the total bought since Aug 20 at 1,450,575 MT of Russian grain (1,412,370 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-Jan 20 via tenders on Crimean Exchange

- Russia to consider wheat export tax cut

- Russian wheat export prices fell further last week and to kick off this week due to the ongoing slide in the ruble. Black Sea prices for Russian wheat with 12.5% protein stand near 181 $/mt fob

- Russian grain stocks were at 34.0 MMT as of January 1, up 3.7% from a year earlier (32.8 MMT as of Jan 1, 2015). The data does not include grain stored at small farms

- Russia's Ag Min raised its forecast of country's 2015/16 grain exports to 32.8 MMT from previous estimate of 30 MMT

- Russia's Ag Min in its initial forecast expects 2016 grain crop at 104-105 MMT

- Ukraine's Ag Min said Ukraine exported 23.926 MMT of grain between July 1-Jan 26, 2015/16, up 12.8% from 21.206 MMT for the same period last year, including:

  • wheat – 10.909 MMT (vs. 8.572 MMT a year ago)
  • barley – 3.928 MMT (vs. 3.775 MMT)
  • corn – 8.945 MMT (vs. 8.625 MMT)
  • others – 144 TMT (234 TMT)

- Thailand plans to sell 300,000 MT of rice to Iran

- Philippines could delay rice imports amid ample stocks

CORN

- Jan 27 - Algeria seeks 50,000 MT of feed barley

- Indonesia's Bulog has bought about 100,000 MT of corn for January-April from international trading houses as the country began its new import programme. Some was purchased at about 189.50 $/mt c&f, though prices of individual shipments may differ

- China imported a record volume of corn and corn substitutes in 2015, around 42.35 MMT (incl. 10.69 MMT of sorghum (+85% from 2014), 10.73 MMT of barley (+98%), 9.37 MMT of cassava (+8%), 6.82 MMT of DDGs (+26%) and 4.73 MMT of corn (+82%)) versus 27.7 MMT in 2014. But this year, traders and analysts expect such imports to drop by more than 50% because China plans to reform its state corn purchase pricing so that the market determines domestic corn prices. This is aimed at curbing both its imports and large state reserves

- SAGIS estimated South Africa's corn stocks as of Dec 31 were at 3.925 MMT vs. 4.701 MMT a month ago and 4.823 MMT a year ago

- SAGIS estimated S. Africa's May-December 2015 corn exports at 572,339 MT vs. 1.853 MMT a year ago

- SAGIS estimated S. Africa's May-December 2015 corn imports at 738,955 MT vs. zero a year ago

- Zimbabwean farmers fear the worst as cattle, crops succumb to drought. Harare plans to import up to 700,000 MT of maize and has secured a $200 million loan to import grain

- Russia considers imposing export duty for corn, barley

- 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 23.6 MMT (25.5 MMT in 2014/15), respectively

- Dr. Michael Cordonnier left his estimate of South America's 2015/16 corn crop at 109.1 MMT unchanged from previous estimate and vs. 115.1 MMT in 2014/15

- China's December barley imports fell 41.8% on year to 455,986 MT. Meanwhile China's 2015 (Jan-Dec) barley imports rose 98.2% on year to 10,732 MMT

- China imported 6.821 MMT of DDGs last year, which was a 26% increase from 2014, with the US supplying the bulk of that business. But its DDG purchases in December slowed by 9.7% from the month prior to 419,896 MT. China's year-long investigation into US dried distillers grains (DDGs) imports is expected to drastically curb the country's purchases

- China imported a record 686,904 cubic meters of ethanol in 2015, up sharply from purchases of just 26,717 cubic meters in 2014, after December ethanol imports hit a monthly record 180,984 cubic meters. The US was its top supplier

- Argentina, ethanol production and consumption hit an all-time high in October with 86.12 million liters produced, up 19% on the year, and consumption at 69.6 million liters, up 16% on the year. Total ethanol production through October last year was up 24% at 670 million liters with 275 million liters coming from sugarcane and the rest coming from corn. Sugarcane-based ethanol production was up 15% on the year while corn-based ethanol production was up 32%

SOYBEAN

Jan 26 - Egypt's GASC cancelled a tender to buy, at least, 15,000 MT of soybean oil and 10,000 MT of sunflower oil for Feb 20-Mar 4 shipment, citing high prices

- China imported almost 9.12 MMT of soybeans during December up 6.9% from year-ago. China purchased 81.694 MMT of soybeans in 2015, a 14.4% annual increase. Brazil was the main supplier in 2015 (with share 49%), followed by the US (34.8%) and Argentina (11.6%)

- AgRural said 1.5% of the Brazilian soybean crop has been harvested, compared to 3.5% last year and the five-year average of 2%

- 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 59.0 MMT (60.8 MMT in 2014/15), respectively

- Dr. Michael Cordonnier left his estimate of South America's 2015/16 soybean crop at 171.3 MMT unchanged from previous estimate and vs. 171.5 MMT in 2014/15

- China's December rapeseed imports down 34.8% on year to 314,269 MT

- China's 2015 rapeseed imports down 12% on year to 4,471 MMT

- China's December rapeseed oil imports up 231.5% on year to 106,497 MT

- China's 2015 rapeseed oil imports up 0.6% on year to 815,019 MT

- India's mustard output seen rising for the first time in 3 years