WHEAT

- Feb 14 - Egypt's GASC cancelled its wheat tender, which was closed on Feb 13, and then prolonged to Feb 14, citing unsuitable prices. In previous tender on Feb 12 GASC bought only 60,000 MT of Romanian wheat from Ameropa at 190.88 $/mt c&f (186.55 $/mt fob+4.33 $/mt freight) for Mar 10-20 shipment

- GASC on Friday said Bunge Ltd offered to send a replacement for a vessel of French wheat rejected due to the ergot fungus

- Jordan-based Sigma Investments will partner with the Egyptian government to launch the region's first grains exchange by end 2016

- Feb 8 - Morocco bought 105,000 MT of soft wheat in the local market, which may include imported or domestic crop

- Indian Ag Min says Indian farmers are expected to harvest 93.82 MMT of wheat in 2016, lower than a target of 94.75 MMT, but above than 86.53 MMT in 2015

- Russia's Ag Min said Russia exported about 23.109 MMT of grain between July 1-Feb 10, 2015/16, down by 2.1% from 23.616 MMT a year ago, including:

  • wheat – 17.159 MMT (18.557 MMT a year ago)
  • barley – 3.458 MMT (3.473 MMT)
  • corn – 2.303 MMT (1.272 MMT)
  • others – 189 TMT (314 TMT)

- Russia has 2,910,900 MT of grain in its federal intervention fund as of February 12

- Kazakhstan's grain stocks as of February 1, 2016 accounted 11.696 MMT, including 8.344 MMT of milling wheat vs. 11.881 MMT (incl. 8.597 MMT of milling wheat) a year ago

CORN

- Feb 17 - Jordan seeks 100,000 MT of feed barley

- Feb 12 - India's PEC received seven bids in corn import tender for 240,000 MT, ranging from 194.62 to 221.50 $/mt c&f, with best offer from Starcom (194.62-197.72$/mt c&f). Other participants were Concordia, Daewoo, VA Intertrading, Ameropa, Agrocorp and Noble

- Feb 12 - South Korea's KFA (Korean Feed Association) rejected all offers in tender for up to 130,000 MT of optional-origin corn for arrival around July 20, citing high prices, with the lowest offer coming in at 181.73 $/mt c&f plus a 1.25 $/mt surcharge for additional port unloading, and most at 183.75-184.78 $/mt c&f

- Zambia suspended corn exports to Zimbabwe last week to help build reserves in light of a looming El Ninio-induced drought

SOYBEAN

- AgRural raised its Brazilian soybean crop forecast by 1 MMT to 99.7 MMT. Farm consultancy says 16% of the Brazilian soybean crop has been harvested as of Feb 12, surpassing the 14% collected at the same point last year

- China imported 5.66 MMT of soybeans in January, down 38% from December's imports of 9.12 MMT and down 17.7% on a year earlier

- China imported 530,000 MT of edible vegetable oils in January, up 15.9% on year. China imports mainly palm oil, soyoil and rapeseed oil

- Argentina is ready in short term to increase supplies of soybeans and corn to Russia

- Buenos Aires Grain Exchange maintains its 2015/16 Argentine soy crop estimate 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 26.4% completed as of Feb 11, ahead of last year's pace of 17%

- Malaysia will keep its crude palm oil (CPO) export tax at zero in March, contrary to market expectations and despite a recent rise in prices. Malaysia calculated a reference price of 2,172.69 MYR/mt for March. It imposes a CPO export tax of 4.5% to 8.5% when the reference price rises above 2,250 MYR/mt. It has maintained a zero tax rate since May 2015

- Surveyor Intertek Testing Services estimated Malaysia's Feb 1-15 palm oil exports at 408,406 MT down 16.1% from a month ago

- Surveyor SGS estimated Malaysia's Feb 1-15 palm oil exports at 420,152 MT down 14.2% from a month ago