WHEAT

- Feb 10 - Japan seeks 146,000 MT of food wheat for Mar 21-Apr 30 shipment:

  • 31,750 MT of western white US wheat
  • 22,630 MT of hard red winter US wheat
  • 29,830 MT of Canadian western red spring wheat
  • 61,790 MT of Australian standard white wheat for Apr-May shipment

- Feb 5 - Egypt cancelled a tender to buy wheat after receiving only four offers that were well above prices quoted in an Algerian deal, suggesting Cairo continues to suffer from confusion over its import regulations

- Egypt sought to reassure wheat markets over its import requirements on Sunday after two cancelled tenders. In a joint press conference, the ministries of supply and agriculture said they would accept all shipments of wheat that have less than 0.05% ergot. Supplies Minister Khaled Hanafi confirmed on Sunday that authorities had rejected the 63,000-MT French wheat shipment because it exceeded the permitted 0.05 level

- Russia plans in the future to increase grain exports to Egypt up to 6 MMT per year from current 4-5 MMT

- Russia's Ag Min said Russia exported about 22.466 MMT of grain between July 1-Feb 3, 2015/16, down by 4.4% from 23.497 MMT a year ago, including:

  • wheat – 16.813 MMT (18.538 MMT a year ago)
  • barley – 3.398 MMT (3.426 MMT)
  • corn – 2.071 MMT (1.238 MMT)
  • others – 183 TMT (295 TMT)

- Russia has 2,859,600 MT of grain in its federal intervention fund as of February 5

- Russia exported 21.234 MMT of wheat in 2015, down 4% from 22.136 MMT in 2014, according to official customs data

- France exported 1.3 MMT of soft wheat outside the EU in December (incl. 489 TMT to Algeria and 138 TMT to Indonesia), the highest volume of the 2015/16 marketing year, with Jul-Dec 2015 France's soft wheat shipments outside the EU at 4.6 MMT, up 3% on the year-earlier period. Total French soft wheat exports so far this season were down 8% at 7.9 MMT, reflecting a 19% drop in exports within the EU

- USDA to report latest S&D report on Feb 9. Analysts expected USDA in its monthly supply outlook to show larger US grain supplies but slightly lower world stocks

CORN

- Feb 12 - Indian state-run trading company PEC seeks 240,000 MT of non-GM yellow corn for Feb 20-Mar 4 shipment to ports: Kandla - 50 TMT; Hazira - 50 TMT; Jaigarh - 40 TMT; New Mangalore - 70 TMT and Vishakapatnam – 30 TMT. The tender closes on Feb 12 and offers must remain valid up to Feb 19

- Argentine Ag Min reported corn planting at 98% done versus 99% a year ago

- Argentina will increase the required blend rate of ethanol into gasoline from 10% to 12%

- French barley exports outside the EU were up 73% at 2.7 MMT for the July-December period, following a large volume of sales to China earlier in the season

SOYBEAN

- China is celebrating its Lunar New Year this week, which typically results in a slowdown in business

- Rains across Argentina eased fears over dry weather curbing yields

- Bayer rejects EPA request to pull insecticide from US market

- Argentine Ag Min reported sunseed harvest at 26% done versus 15% a year ago

- Oil World estimates Oct-Dec 2015 Argentine sunflower oil exports at 100-110 TMT and expects 2015/16 (Oct-Sep) at 550 TMT vs. 496 TMT a year before

- Oil World said combined soy oil exports from the US, Argentina, Brazil and Paraguay were boosted by as much as 1.0 MMT to 3.1 MMT in Oct-Jan 2015/16, garnering market share from sunflower oil and palm oil. Argentine exports rocketed by 0.8 MMT in that period

- Dorab Mistry said palm oil prices could jump more than expected to 2,700 MYR/mt in the Q2, the highest since early 2014, as seasonally lower output and dry weather dent inventories across Southeast Asia

- James Fry said if El Nino droughts return by mid-year, Southeast Asian production could fall by 4 MMT in 2016. Fry kept his forecast for fob CPO prices to climb above 600 $/mt by March 2016 and reach $650-$675 by mid-2016 as Indonesia uses more palm-based biodiesel