WHEAT

- Feb 18 - Japan bought 150,817 MT of food wheat for Mar 21-Apr 20 shipment:

  • 10,800 MT of western white US wheat
  • 39,460 MT of hard red winter US wheat
  • 34,600 MT of (dark) northern spring US wheat
  • 32,927 MT of Canadian western red spring wheat
  • 33,030 MT of Australian standard white wheat for May shipment

- Egypt's Agriculture Ministry sent a letter to traders saying it will allow an ergot fungus tolerance level of 0.05% in wheat imports. But traders will now wait to see if the tolerance policy is applied to shipments which are arriving or have arrived in Egypt

- Russian grain stocks were at 31.1 MMT as of February 1, up 6.1% from a year earlier (29.3 MMT as of Feb 1, 2015). The data does not include grain stored at small farms

- FranceAgriMer raised its French wheat stocks forecast to 17-yr high of 6.0 MMT at the end of 2015/16, up from 5.8 MMT last month and 2.5 MMT last year and cut forecasts for export outside the EU - to 11.0 MMT from 11.3 MMT last month (11.4 in 2014/15). They also trimmed wheat crop estimate to 40.90 MMT from 40.96 MMT previously

- AgCanada estimates new crop spring wheat area down 2% from year ago, durum up 2% and winter wheat up 24%, with total wheat production initially projected at 29.2 MMT, up from 27.6 MMT last year

- Romania increased its wheat crop expectations from 7.0 MMT up to 7.9 MMT while last year's crop was a little less than 7.5 MMT. They also lowered export expectations down 500,000 MT to 3.5 MMT compared to exports of 4.87 MMT last year

- Japan's January grain imports down 5.5% on year to 1.896 MMT, incl. 696,157 MT from the US (-38.6%)

- Cargill Inc will stop providing crop inputs (seeds, fertilizer and crop chemicals) to farmers in the Black Sea region and to fully exit from these activities by the end of May 2016, as the global trader continues to cut back operations in the face of sliding commodity prices

- US farmers wary of buying new equipment as crop prices stall

CORN

- Feb 17 - Jordan bought 100,000 MT of optional origin feed barley in two consignments:

  • 50,000 MT from Midgulf International at 189.50 $/mt c&f for second half May shipment
  • 50,000 MT from Cerealcom Dolj at 189.50 $/mt c&f for second half June shipment

- Argentina's Ag Min reported a 57% rise in grain exports in the time frame from December 21 through January 31—3.36 MMT of grain combined— due to the government elimination/reduction of export duties

- FranceAgriMer estimated France's 2015/16 corn crop at 13.05 MMT (12.87 MMT – Jan estimate) vs. 2014/15 record crop of 17.96 MMT with the carryout projected at 2.74 MMT (2.89 MMT – previous) against 2.96 MMT in 2014/15. France's 2015/16 corn exports is forecasted at 5.84 MMT (5.76 MMT – previous) vs. 8.26 MMT year ago

- FranceAgriMer trimmed its projection for 2015/16 French barley stocks to 1.75 MMT from 2.09 MMT forecast last month (vs. 960 TMT last year). France's 2015/16 barley exports (without malt) is forecasted at 6.71 MMT (6.33 MMT – previous) vs. 6.65 MMT year ago, due to improved demand from third countries with exports outside the EU expected at 3.9 MMT vs. 3.4 MMT last month and 3.64 MMT in 2014/15

- AgCanada says new crop barley area expected up 2% from last year, corn up 4% and oats down 6%

- France will cut social security taxes paid by farmers, a measure worth 500 million euros ($556 million), to help ease financial pressure on them wrought by persistently low dairy and meat prices

SOYBEAN

- Feb 17 - Egypt's FIHC bought from ADM 30,000 MT of soyoil at 748 $/mt c&f and 12,000 MT of sunflower oil at 818 $/mt c&f both with immediate cash payment and for April 10-30 arrival

- Philippines bought 25,000 MT of US soymeal for May-June

- Japan's January soybean imports down 3.1% on year to 232,193 MT, incl. 201,241 MT from the US (+5.7%)

- French oilseed producer Avril announced a partnership with Dow Chemical Co unit Dow AgroSciences to develop protein-rich rapeseed. The deal will be based on non-genetically modified seed technology developed by Dow AgroSciences in Canada, which boosts protein content by 20%

- AgCanada estimates Canadian canola new crop area up 4% from last year