WHEAT

- Feb 2 - Algeria seeks 50,000 MT of optional origin milling wheat

- Iran banned state imports of wheat for a year starting on March 20

- Egypt's GASC says French wheat shipment rejected after re-testing. The 63,000-MT shipment arrived to Egypt in December and was initially rejected by agricultural quarantine for containing ergot, and was re-inspected

- Kazakhstan reported the country's 2015 grain harvest at 18.7 MMT in clean weight, up from 17.2 MMT in 2014, with wheat at 13.7 MMT vs. 13 MMT last year

- Russia will make a decision on whether to reduce or eliminate its wheat export tax on Feb 3

- Russia's Ag Min said Russia exported about 21.942 MMT of grain between July 1-Jan 27, 2015/16, down by 3.7% from 22.788 MMT a year ago, including:

  • wheat – 16.479 MMT
  • barley – 3.314 MMT
  • corn – 1.967 MMT
  • others – 180 TMT

- Russia has 2,818,400 MT of grain in its federal intervention fund as of January 28

- Rosselkhoznadzor estimated Russian grain exports between Jul 1- Jan 31, 2015/16 at 24.89 MMT (incl. 17.28 MMT of wheat) compared with 26.4 MMT (18.48 MMT) in Jul 1- Jan 31 of 2014/15

- Weekly US wheat export sales data for week ended January 21 of 347,000 MT, incl. 294,200 MT for 2015/16 were within analysts' expectations (250-400 TMT). Total current marketing-year US wheat export sales are 16% behind the same point last year

- USDA attaché estimates Brazil's 2015/16 wheat crop at 5.6 MMT, which would be down from the year prior. Brazil will need to import 6.5 MMT of wheat this season, up 17% from the year prior

- Egypt plans to launch an agricultural-focused commodities trading exchange, the first of its kind in the Middle East, by the end of 2016

- Thailand will sell 570,000 MT of rice from government stockpiles for human consumption and industrial use, including animal feed

CORN

- Feb 3 - Israel seeks up to 105,000 MT of corn and 10,000 MT of feed grain sorghum from optional origins for March-June

- Feb 2 - Taiwan's MFIG seeks up to 65,000 MT of corn from either the US, Argentina, Brazil, or South Africa for delivery from April 1 through early May

- Feb 1 - Brazil to hold auction of 150,000 MT of corn from state stocks to the domestic market

- USDA attaché estimates Brazil's 2014/15 corn crop at 85 MMT and forecasts 2015/16 crop at 81.5 MMT based on normal weather. The country's weak currency has spurred record 2014/15 corn exports of 32.5 MMT and pushed up domestic prices, but in 2015/16 Brazil is expected to ship 26.5 MMT of corn

- Weekly US corn export sales data for week ended Jan 21 of 855,400 MT, incl. 817,000 MT for 2015/16 were in line with market forecasts ranging from 800 to 1000 TMT. Total current marketing-year US corn export sales are 26% behind the same point last year

- Indonesia's state procurement agency Bulog has agreed to buy 445,000 MT of corn from local importers, hoping to end speculation that has sent prices of a number of food items upward in the past months. The government stopped corn imports last year and ordered Bulog to import 600,000 MT of corn by March as stop-gap supply measure between harvest seasons, as part of the agency's import monopoly of 2.4 MMT this year. However, it turned out that some companies under the Indonesian Feedmills Association (GPMT) had already secured contracts to importing 670,000 MT of corn this month and next, before the ban was put in place

SOYBEAN

- Weekly US soybean export sales data for week ended Jan 21 of 647,800 MT for 2015/16 were in line with market expectation (500-800 TMT). Total current marketing-year US soybean export sales are 10% behind the same point last year

- AgRural estimated the Brazilian soybean crop at 4% harvested as of Jan 29, behind last year's 6% but in line with the five-year average

- Oil World expects a 1-1.5 mln ha (probably more) reduction in Argentine soybean plantings for the crop to be harvested in early 2017, reducing next year's Argentine soybean production accordingly. It will be very difficult for Brazil to compensate this so that South American soybean production is unlikely to increase in early 2017

- Oil World expects world production of palm oil in 2016 to increase by just 0.4 MMT to 62.9 MMT, compared to increases of 2.8 MMT in 2015 and an average annual growth of 3.2 MMT in the most recent five years

- Surveyor Intertek Testing Services estimated Malaysia's Jan 1-31 palm oil exports at 1,145,649 MT down 9.9% from a month ago

- Surveyor SGS estimated Malaysia's Jan 1-31 palm oil exports at 1,149,255 MT down 9.7% from a month ago