WHEAT

- Feb 10 - Tunisia's state grains agency seeks 67,000 MT of optional-origin soft milling wheat (11.5% protein) for May-June

- Feb 10 - Japan bought 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 10 - 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 17

- Feb 9 - Jordan has made no purchase in an international tender to buy 100,000 MT of milling wheat for July

- Egypt's GASC said it did not need to give further guarantees on ergot necessary for tenders

- Bunge Ltd has launched legal proceedings against Egypt's state grain buyer over a rejected cargo of French wheat, highlighting uncertainty among suppliers who are already charging a risk premium to the world's largest wheat importer

- USDA raised global 2015/16 wheat production estimate to new record of 735.8 MMT, up by 0.4 MMT from previous estimate, mainly due to larger production in Argentina (+0.5 MMT to 11 MMT). Global trade is slightly up. Canada's and Turkey's exports are raised and the United States is lowered. USDA raised its outlook for world ending stocks of wheat by 6.8 MMT to a new record of 238.87 MMT (214.51 in 2014/15), well above market forecasts (231.48 – avg. guess, 229.66-233.00 – range), largely due to increase in China

- USDA attaché in Argentina raised its 2015/16 wheat production estimate to 10.8 MMT (10.5 – previously), which is 0.2 MMT less USDA's official latest projection

CORN

- Feb 10 - Tunisia's state grains agency seeks 75,000 MT of optional-origin feed barley for March shipment

- USDA raised its 2015/16 global corn production estimate by 3 MMT, with gains in Brazil (+2.5 to 84 MMT) and Argentina (+1.4 to 27 MMT) more than offsetting smaller crops in South Africa (-1 to 7 MMT) and Indonesia (-0.5 to 9.1 MMT). USDA projects global corn production in 2015/16 at 970.08 MMT vs. 1,008.99 MMT in 2014/15. Global trade is also projected up, highlighted by greater imports for India, Indonesia, Iran, Mexico, South Africa, Turkey, and the United States. Exports for Argentina, Brazil, and Paraguay are boosted, more than offsetting lower exports for the US. USDA lowered its global 2015/16 world corn stock estimate to 208.81 MMT from January estimate of 208.94 MMT, and within the range of expectation 203.5-210 MMT (208.25 MMT – avg.) but still record high

- USDA pegged South American crops, bigger than expected: Brazil at 84 MMT vs. avg. guess of 81.5 MMT and Argentina at 27 MMT vs. avg. guess of 25.3 MMT

- USDA attaché in Argentina lowered its 2015/16 corn crop estimate to 24 MMT, which is 3 MMT less USDA's official latest projection (27 MMT)

- USDA attaché in Argentina raised its 2015/16 barley production estimate to 4.3 MMT (3.4 – previously), which is 0.7 MMT above USDA's official latest projection (3.6 MMT)

SOYBEAN

- Feb 17 - Egypt's FICH seeks 40,000 MT of soybean oil and 15,000 MT of sunflower oil

- Pakistan bought 30,000 MT of Canadian canola for May shipment

- USDA increased its forecast of global soybean production in 2015/16 by 1.5 MMT to 320.5 MMT (318.8 MMT in 2014/15), mainly due to larger estimate for Argentina. Exports are slightly raised on higher shipments from Ukraine. Global stocks are raised this month, reflecting growing supplies in Argentina as well as reduced crush estimate in the US. USDA lifted its forecast of global 2015/16 soybean stocks to a record 80.42 MMT, up 1.1 MMT from Jan and above market expectation (78.97 – avg. guess, 76.36-81 – range)

- USDA pegged South American crops, bigger than expected: Brazil at 100 MMT vs. avg. guess of 99.4 MMT and Argentina at 58.5 MMT vs. avg. guess of 56.9 MMT

- Dr. Michael Cordonnier says around 10% of the Brazilian soybean crop has been harvested, which is now slightly ahead of 9% last year and the five-year average of 8%. He expects crop at 98 MMT, unchanged from week ago

- Russia bans import of corn and soybeans from the US from February 15

- Stratégie Grains maintains its forecast of 2016 EU sunseed production at 8.44 MMT vs. 7.6 MMT in 2015

- MPOB estimated Malaysian crude palm oil production in January at 1.13 MMT vs. average expectation of 1.2 MMT and 1.399 MMT in December with the lowest end-stocks in 5-months at 2.308 MMT down 12.4% on month and below the market expectations of 2.39 MMT. Malaysian January palm oil exports fell to 1.279 MMT, down 13.8% on month and below the average expectation of 1.34 MMT

- Surveyor Intertek Testing Services estimated Malaysia's Feb 1-10 palm oil exports at 249,835 MT down 22.7% from a month ago

- Surveyor SGS estimated Malaysia's Feb 1-10 palm oil exports at 196,968 MT down 38.8% from a month ago