WHEAT

- Feb 3 - Taiwan bought 41,300 MT of US milling wheat from CHS for April 1-15 shipment (freight -16.9 $/mt):

  • 26,700 MT of dark northern spring wheat (14.5% protein) at 234.20 $/mt fob
  • 14,600 MT of hard red winter wheat (13% protein) at 220.98 $/mt fob

- Feb 3 - South Korea's MFG purchased 65,000 MT of Argentine feed wheat at 179.81 $/mt c&f for March shipment plus a 1.25 $/mt surcharge for additional port unloading

- Feb 3 - Japan received no offers for 120,000 MT of feed wheat and 200,000 MT of feed barley in a simultaneous buy and sell (SBS) auction. New SBS tender for the same amounts for each grain will be held on Feb 10

- Egypt's agriculture ministry will allow wheat imports with up to 0.05% levels of ergot, a common grain fungus, it said on Wednesday, reversing a zero tolerance policy that prompted traders to boycott the state's wheat tender this week. Egypt's Ag Min on Tuesday said Egypt has rejected three wheat import shipments due to the presence of grain fungus ergot: one French shipment (63,000 MT), and two smaller private cargoes

- GASC on Tuesday said it was in talks to import 3 MMT of wheat outside the tendering process

- Russian media says Egypt asks Russia to consider the possibility of price preferences and grace loan period with the purchase of wheat

- Kazakh Ag Min said Kazakhstan exported 4.942 MMT of grain between July 1-January 31, 2015/16 vs. 3.981 MMT a year ago, incl. flour – 1.661 MMT in wheat equivalent vs. 1.525 MT in the same period of 2014/15. The country is expected to ship 7.5 MMT of grain this marketing year, up from 6.444 MMT in 2014/15 but below 8.68 MMT in 2013/14

CORN

- Feb 2 - Taiwan's MFIG bought 65,000 MT of US corn at a premium of 97.25 US cents a bushel c&f over the Chicago July contract (around 188.87 $/mt c&f) for April-May shipment

- Dr. Michael Cordonnier left his Argentine 2015/16 corn production estimate unchanged at 23.6 MMT (25.5 MMT in 2014/15), but raised his Brazilian corn crop forecast by 2 MMT to 83.2 MMT (85.4 MMT in 2014/15)

- Dr. Michael Cordonnier increased his estimate of South America's 2015/16 corn crop by 2 MMT to 111.1 MMT, still down from 115.1 MMT in 2014/15

- Safras says Brazilian Safrinha (second) corn is 12% planted versus 11% a year ago, and summer (first) corn was 6% harvested versus 6% a year ago

- Argentine corn export licenses for export in January totaled 11.5 MMT

- Brazil's Trade Ministry reported January corn exports at 4.458 MMT, down from 6.267 MMT in December but above 3.195 MMT in the year ago month

- Brazil's Trade Ministry reported January ethanol exports at 119.9 million liters, down from 286.7 mln liters in December and 153.8 mln liters last January

- China's state-owned ChemChina will make an agreed $43 billion bid for Swiss seeds and pesticides group Syngenta

- ADM reported a drop in quarterly profit on poor ethanol margins and depressed US grain exports and cautioned that tough market conditions could persist in the year ahead

SOYBEAN

- Brazil's Trade Ministry reported January soybean exports at 394 TMT, down from 731 TMT in December but still above just 85 TMT last January. Also Brazil exported 1.18 MMT of soymeal in Jan versus 1.04 MMT the month before, and 68 TMT of soyoil compared to 164 TMT in Dec

- Dr. Michael Cordonnier left his Argentine 2015/16 soybean production estimate unchanged at 59 MMT (60.8 MMT in 2014/15), but raised his Brazilian soybean crop forecast by 1 MMT to 98 MMT (96.2 MMT in 2014/15)

- Dr. Michael Cordonnier lifted his estimate of South America's 2015/16 soybean crop by 1 MMT to 172.3 MMT, now above than 171.5 MMT in 2014/15