WHEAT

- Mar 2 - Egypt's GASC seeks an unspecified amount of wheat from global suppliers for Apr 5-14 shipment. They have got 6 offers:

  • Louis Dreyfus: 60,000 MT of Ukrainian wheat at 176.84 $/mt fob Odessa
  • Cerealcom Dolj: 60,000 MT of Romanian wheat at 177.50 $/mt fob
  • Ameropa: 60,000 MT of Romanian wheat at 179.50 $/mt fob
  • ADM: 55,000 MT of Russian wheat at 183.45 $/mt fob
  • Union Co: 60,000 MT of Russian wheat at 183.89 $/mt fob
  • Aston: 60,000 MT of Russian wheat at 188.88 $/mt fob

- Mar 2 - Japan bought 126,698 MT of food wheat for Apr 21-May 20 shipment:

  • 15,440 MT of western white US wheat;
  • 20,440 MT of hard red winter US wheat;
  • 33,158 MT of (dark) northern spring US wheat;
  • 57,660 MT of Canadian western red spring wheat

- Mar 2 - Japan would skip import of feed-quality wheat and barley in a simultaneous buy and sell (SBS) auction. The ministry received an offer for wheat worth 26,230 MT and another for barley worth 20,750 MT, but it decided not to accept the offers as they did not meet its conditions. New SBS tender for 120,000 MT of feed wheat and 200,000 MT of feed barley will be held on March 9

- Mar 1 - Jordan has made no purchase in an international tender to buy 100,000 MT of hard milling wheat for Aug-Sep shipment

- Mar 2 - Russia bought 19,575 MT of intervention grain (all wheat) via tender on the NTB (Moscow Exchange). Making the total bought since Aug 20 at 1,598,940 MT of Russian grain (1,560,735 MT of wheat, 17,685 MT of rye and 20,520 MT of barley). Separately Russia bought around 63,000 MT of Crimean wheat in intervention fund between Aug 19-Jan 28 via tenders on Crimean Exchange

- Russia's Ag Min says it is completing the current programme of grain buying on the domestic market

- USDA's monthly crop reports showed crop condition ratings in Kansas, the top US winter wheat producer, improved in February. While ratings fell in several other states, winter wheat was in better shape than a year ago in Oklahoma and Montana, the No. 3 and 4 winter wheat states last year

CORN

- Mar 3 - South Korea's KFA (Korea Feed Association) bought 60,000 MT of South American corn at 177.9 $/mt c&f for July 30 arrival

- COFCO says China's corn imports are likely to be subdued as it takes steps to cut domestic stockpiles. China will unveil its state corn price policy as early as next month to make domestic prices low enough to keep imports outside the country. Total corn stocks are now more than 200 MMT. China has already bought more than expected in its 2015/16 stockpiling scheme. Total purchases may top 90 MMT, a record level, by the end of the scheme in April. The government had purchased 85.8 MMT by Feb 25

- Dr. Michael Cordonnier left his Brazilian and Argentine corn crop forecasts unchanged this week at 84 MMT (85.4 MMT in 2014/15) and 25 MMT (27 MMT in 2014/15) respectively

-Dr. Michael Cordonnier left his estimate of South America's 2015/16 corn crop at 113.3 MMT unchanged from previous estimate and vs. 116.2 MMT in 2014/15

- Brazil's Trade Ministry reported February corn exports at 5.374 MMT, a record for that month, up from 4.458 MMT in January and above 1.105 MMT in the year ago month

- Brazil's Trade Ministry reported February ethanol exports at 306.16 million liters, up from 119.91 mln liters in January and 70.84 mln liters last February

- Brazilian trading house CGG expects the country's main ports to shift grain exports away from corn to soybeans starting in March

- South African grain group Grain SA says government maize estimate for this year crop of 7.2 MMT is too high

- US total corn consumed for alcohol and other uses was 491.3 million bushels in January 2016, down 2% from Dec 2015 and down 1% from Jan 2015

- US dry mill co-product production of distillers dried grains with solubles (DDGs) was 1.87 million tons during January 2016, down 4% from Dec 2015 but up 2% from Jan 2015

- US wet mill corn gluten feed production was 322 thousand tons during January 2016, down 5% from Dec 2015 but slightly up from Jan 2015

- EIA estimated US ethanol production for December at 31.075 million barrels versus 29.594 million barrels in November and vs. 30.831 million barrels a year ago

- Ukraine's Ag Min estimated spring barley planting 3% done as of Mar 2

SOYBEAN

- Mar 1 - USDA announced export sales of 140,000 MT of US soybeans for delivery to unknown destinations during 2015/16

- COFCO expects China's 2015/16 soybean imports to climb 6% to 83 MMT from 78.35 MMT a year ago on higher demand for animal feed

- Dr. Michael Cordonnier says around 33% of the Brazilian soybean crop has been harvested, which is ahead 30% last year and 29% on average at this point. He raised its crop estimate to 100 MMT from 99 MMT a week ago and vs. 96.2 MMT in 2014/15

- Dr. Michael Cordonnier increased Argentine 2015/16 soybean production estimate this week by 1 MMT to 60 MMT (60.8 MMT in 2014/15)

- Dr. Michael Cordonnier lifted his estimate of South America's 2015/16 soybean crop by 2MMT to 175.3 MMT, above than 171.4 MMT in 2014/15

- Brazil's Trade Ministry reported February soybean exports at 2.037 MMT, up from 394 TMT in January and above 869 TMT a year ago. Also Brazil exported 0.84 MMT of soymeal in Feb versus 1.18 MMT the month before and 0.69 MMT year ago; and 44 TMT of soyoil compared to 68 TMT in Jan and 98 TMT year ago

- USDA estimated US January soybean crush for crude oil at 4.814 million tons, near the market expectation and down from 5.011 million tons in December 2015. Crude soyoil stocks climbed to 1.724 billion lbs as of Jan 31 from 1.577 in Dec, while refined oil stocks were at 386,338 million lbs as of Jan 31 vs. 395,661 in Dec. January US soy cake and meal stocks rose to 368,063 tons from 270,421 in Dec

- EIA said US December biodiesel production at 108 million gallons vs. 106 million gallons in November and vs. 123 million gallons a year ago

- EIA said 436 million lbs. of soybean oil used for biodiesel in December (53% of feedstocks used to produce biodiesel) vs. 464 million lbs. in November and vs. 531 million lbs. a year ago