WHEAT

- Feb 3 - Taiwan seeks 41,300 MT of US milling wheat for April 1-15 shipment

- Feb 8 - Morocco seeks 105,000 MT of soft wheat in the local market for subsidized flour production

- Thai flour mill this week bought 50,000 MT of Australian prime wheat (10.5% protein) at about 225 $/mt c&f for delivery in June

- About 25,000 MT of US dark northern spring wheat (14% protein) was traded at a $1.20-a-bushel premium to Minneapolis May futures for shipment in April to Southeast Asia

- About 20,000 MT of Canadian western spring wheat was traded at a premium of 80 cents versus the Minneapolis May contract for shipment in April to Southeast Asia

- Most Asian wheat importers are covered for the next two months and are now looking to lock in cargoes for April arrival

- Argentina have sold wheat to Korea and Vietnam

- Egypt gave Argentina the green light to ship wheat for the first time in more than three years. Two 60,000 MT cargoes were reportedly inspected by an Egyptian delegation and approved for export to the country

- Russia sees no need to change wheat export tax now, but discussion will continue

- EU in week ended January 26 granted licenses to export 822 TMT of soft wheat, bringing the total this season to 14.845 MMT vs. 16.054 MMT a year ago

- EU in week ended January 22 awarded licenses to import 58,117 MT of Ukrainian wheat under an annual duty-free quota. The award meant that the EU had now awarded 395,074 MT or 41.6% out of a total volume of 950,000 MT available in 2016

- European Commission (EC) slightly increased its 2015 soft wheat crop estimate from 149.15 to 149.49 MMT this month, exceeding a previous record of 148.74 MMT last year. EU's executive raised its forecast of 2015/16 soft wheat exports from 27.9 to 29.12 MMT, but still down from 33.34 MMT last season. EC lowered its forecast of soft wheat inventories in the region from 17.58 to 15.81 MMT by the end of June 2016 (10.97 MMT in 2014/15)

- Indian flour millers have asked the government to scrap the 25% import duty on wheat from April due to worries over a fall in output

- Indian Ag Min says country's wheat production is expected to surpass last year's level of 88.94 MMT despite low acreage. Wheat sowing has almost been completed in major growing states and total wheat coverage is down by only 4.38% at 29.25 million hectare this year despite facing severe drought in 10 states

- Iranian Ag Min says that annual wheat imports have fallen to 1.5 MMT in its current season, which runs to March, and Iran hopes to be self-sufficient in wheat as soon as next year

- USDA attaché sees Ethiopia wheat imports at a record 2.5 MMT due to drought, more than double from last year

- USDA attaché revised up its 2015/16 Morocco imports estimate to 3 MMT from 2.8 MMT previously

- Argentina completed harvesting of wheat. Buenos Aires Grain Exchange estimates wheat crop at 10.3 MMT vs. 11.75 MMT in 2014/15

CORN

- CNGOIC says that Chinese companies have ordered more than 20 cargoes (about 1.2 MMT) of corn for shipment in the first quarter of the year, mostly from Ukraine and two cargos from the US, at about 236 $/mt delivered. The purchases were made using import quotas issued for this year. China's low-rate import quota for corn stands at 7.2 MMT for this year. But CNGOIC says it expects China to actually import just 3.5 MMT of corn this year. China has issued around 2.9 MMT of the total 2016 corn quotas to private buyers

- Chinese deputy Director of the Rural Leading Working Group says that RMB1600/ton is a rational price for corn that processors and feeders can accept and should be the target for the price for state procurement, also said the government is looking at ways to subsidize farmers without raising prices

- Iran will remain dependent on imports of corn and barley

- EU in week ended Jan 26 awarded 210 TMT of corn (maize) import certificates, taking the volume so far this season to 8.323 MMT vs. 5.141 MMT a year ago

- EU in week ended Jan 26 granted licenses to export 36 TMT of corn, bringing the total this season to 974 TMT vs. 1.575 MMT a year ago

- EU in week ended Jan 26 granted licenses to export 147 TMT of barley, bringing the total this season to 6.065 MMT vs. 4.765 MMT a year ago

- EC trimmed its outlook for 2015 EU corn harvest to 56.23 MMT from 56.6 MMT last month, down 28% from a record 77.9 MMT in 2014. EC forecasts EU 2015/16 corn imports at 11 MMT vs. 9.4 MMT in 2014/15 and ending stock at 13.3 MMT vs. 22.6 MMT last season

- EC increased its estimate of 2015 EU barley harvest to 60.97 MMT from 60.88 MMT previously, above last year's 60.2 MMT

- Buenos Aires Grain Exchange estimated Argentine corn planting 94.8% done as of Jan 28 vs. 95% a year ago. The exchange estimated corn planting area at 3.1 mln ha vs. 3.4 mln ha in 2014/15

SOYBEAN

- Jan 28 - USDA announced cancellations of export sales of 395,000 MT of US soybeans for delivery to China during 2015/16

- Vietnam bought 20,000 MT of Argentine soymeal for March

- Chinese official says 80% of imported soybeans come from the US and S. America but believes Russia can become big producer, especially in large territories in the Far East

- Buenos Aires Grain Exchange estimated Argentine soybean planting 100% done as of Jan 28 vs. 99.1% a year ago. The exchange estimates soybean planting area at 20.1 mln ha vs. 20 mln ha in 2014/15, and expects soy crop at 58 MMT (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 22.9% completed as of Jan 28, ahead of last year's pace of 13%

- EC increased its 2015 EU rapeseed crop estimate from 21.3 to 21.45 MMT, still down sharply from a record 2014 crop of 24.33 MMT. Sunflower crop is estimated at 7.13 MMT vs. 9.06 MMT in 2014, while soybean estimate trimmed to 2.2 from 2.24 MMT previously and vs. 1.85 MMT a year ago

- Oil World said EU could harvest around 22.0 MMT of rapeseed in 2016 against 22.1 MMT in 2015