WHEAT

- Mar 6 - Iraq seeks at least 50,000 MT of wheat optionally from the US, Canada or Australia. The tender closes on March 6 and offers must remain valid until March 10

- Feb 19 - Egypt's GASC bought 240,000 MT of wheat from France and Russia:

  • 60,000 MT of French wheat from Soufflet at 191.4 $/mt c&f (183 $/mt fob+8.4 $/mt freight from National Navigation)
  • 120,000 MT of Russian wheat from Union Co. at 194.5 $/mt c&f (187.9 $/mt fob+6.6 $/mt freight from National Navigation)
  • 60,000 MT of Russian wheat from Louis Dreyfus at 195.25 $/mt c&f (188.65 $/mt fob+6.6 $/mt freight from National Navigation)

- Egypt's strategic wheat reserves are enough to last until the start of June

- Egypt bought 30,000 MT of US hard red spring wheat last week (Feb 5-11), the first purchase of that variety since 2010, USDA data showed on Friday

- Weekly US wheat export sales data for week ended February 11 of 307,800 MT, incl. 253,600 MT for 2015/16 were within trade expectations (200-400 TMT). Total current marketing-year US wheat export sales are 17% behind the same point last year

- Russia's Ag Min said Russia exported about 23.814 MMT of grain between July 1-Feb 17, 2015/16, down by 0.4% from 23.915 MMT a year ago, including:

  • wheat – 17.755 MMT (18.689 MMT a year ago)
  • barley – 3.469 MMT (3.563 MMT)
  • corn – 2.394 MMT (1.34 MMT)
  • others – 196 TMT (323 TMT)

- Russia has 2,941,500 MT of grain in its federal intervention fund as of February 19

- SovEcon expects Russia's grain exports in February at 2.2 MMT (incl. 1.5 MMT of wheat, 450 TMT of corn and 200 TMT of barley). As a result, Russia's July-February grain exports may reach the highest level for the period at 25.2 MMT, up from 24.75 MMT for the same period of 2014/15. Exports are also expected to remain high in March thanks to fulfilment of (forward) contracts signed in the period of the sharp weakening of the rouble in December and January

- Ukraine's Ag Min reports that 92% (or 6.5 mln ha) of Ukraine's winter grain crop had sprouted as of February 19 vs. 89% (or 6.3 mln ha) a week ago and 98% (or 7.8 mln ha) a year ago. About 67% of emerged crops were in good to satisfactory condition, unchanged from prior week, but down from 82% last year

- Ukrainian grain stocks were at 18.58 MMT as of February 1, down 16.8% from a year earlier, incl. 7.98 MMT of wheat (6.88 MMT a year ago), 1.33 MMT of barley (1.72 MMT a year ago) and 8.51 MMT of corn (12.72 MMT a year ago). The data does not include grain stored at small farms

- China has lifted its phytosanitary restrictions on grain imports from Kazakhstan, allowing for the country to ship Beijing up to 500,000 MT of grain

- China's January wheat imports up 226.4% on year to 241,429 MT. Main suppliers were Australia (140,840 MT), Canada (61,163 MT) and Kazakhstan (36,813 MT)

- Yemen's central bank has told traders and local banks it will no longer provide lines of credit for the import of sugar and rice at the official exchange rate

CORN

- India's PEC extended the offer period to Feb 24 in its tender to buy 240,000 MT of GMO-free corn. The tender had closed on Feb 12 and initially offers had to remain valid up to Feb 19. The lowest offer was 194.62 $/mt c&f

- Feb 19 - USDA announced export sales of 101,600 MT of US corn for delivery to Japan during 2015/16

- Weekly US corn export sales data for week ended Feb 11 of 1,297,900 MT, incl. 1,050,700 MT for 2015/16 topped the high end of trade forecasts ranging from 600 to 1000 TMT. Total current marketing-year US corn export sales are 25% behind the same point last year

- Feb 19 - Argentina declared flood emergency in six key farm provinces: Cordoba, Santa Fe, Entre Rios, Chaco, La Rioja and Corrientes

- China imported only 7,986 MT of corn last month, which was a 98.6% decrease from last year and well below from December (133,117 MT)

- China imported 290,653 MT of distillers' dried grains (DDGS) in January, up 330.8% from a year-ago, but down from December

- China's January barley imports fell 58.9% on year to 362,334 MT

- China imported 923,941 MT of sorghum in January, up 25.9% from a year-ago

- China imported 643,902 MT of cassava in January, down 6.7% from a year-ago

- Japan's use of corn in animal feed stood at 45.5% in December, down 0.4 points from the month prior but up 1.2 points from year-ago. Its use of wheat in feed stood at 1.6% at the end of 2015, steady with November and year-ago. Sorghum use in December stood at 2.9%, down from 3.2% in November and 4.1% in December 2014. Barley usage in feed rations held steady with month and year-ago at 3.3%

SOYBEAN

- Feb 24 - Egypt's GASC seeks at least 10,000 MT of sunflower oil and 15,000 MT of soybean oil for Mar 15-30 shipment

- Head of Egypt's FIHC resigns amid problems opening letter of credits for vegetable oil tenders

- Weekly US soybean export sales data for week ended Feb 11 of 595,700 MT, incl. 567,000 MT for 2015/16 were within trade expectations ranging from 400,000 to 700,000 MT. Total current marketing-year US soybean export sales are 11% behind the same point last year

- Flood declarations for some of Argentina's provinces is proving light support

- Surveyor SGS estimated Malaysia's Feb 1-20 palm oil exports at 582,297 MT down 12.6% from a month ago

- Surveyor Intertek Testing Services estimated Malaysia's Feb 1-20 palm oil exports at 594,944 MT down 10.8% from a month ago