WHEAT

- Mar 8 - Jordan seeks 100,000 MT of hard milling wheat

- Mar 3 - Taiwan bought 100,975 MT of US milling wheat in two consignments:

  • The first consignment has an additional charge of 15.31 $/mt for ocean shipping from the US Pacific North West coast to Taiwan for shipment between April 18-May 2:
    • 27,700 MT of dark northern spring wheat (14.5% protein) at 224.54 $/mt fob;
    • 13,950 MT of hard red winter wheat (13% protein) at 212.53 $/mt fob;
    • 13,925 MT of soft white wheat (10.5% protein) at 204.00 $/mt fob.
  • The second consignment has an additional charge of 17.48 $/mt for ocean shipping from the US Pacific North West coast to Taiwan for shipment between May 5-19:
    • 30,000 MT of dark northern spring wheat (14.5% protein) at 224.39 $/mt fob;
    • 15,400 MT of hard red winter (13% protein) at 210.71 $/mt fob

- Mar 2 - Thailand bought 135,000 MT of feed wheat, likely Black Sea origin. Around 67,000 MT was purchased for Aug shipment and about 68,000 MT for Sept shipment, at around 175 $/mt c&f liner out

- Egypt has enough strategic reserves of wheat to last until the end of June

- Egypt's Agriculture Ministry said on Friday it would continue to send experts to inspect government wheat purchases at ports of origin

- Rejected 8,000-MT cargo of Canadian wheat by Egypt due to traces of the ergot fungus re-exported to Europe

- Morocco's wheat crop may fall more than 50% from last year. The country may harvest 3.72 MMT of wheat this year, 54% below 2015's record and the lowest in four years, the average estimate in the Bloomberg survey showed. To meet demand Morocco may almost double imports to 4.76 MMT in 2016/17

- FranceAgriMer said 94% of soft wheat crops were in good and excellent condition as of Feb 29, unchanged from the previous week but above the 91% a year earlier; durum rating at 89% in good to excellent vs. 90% a week ago and vs. 85% a year ago

- EU in week ended March 1 granted licenses to export 690 TMT of soft wheat, bringing the total this season to 18.405 MMT vs. 20.823 MMT a year ago

- EU in week ended February 26 awarded licenses to import 10,200 MT of Ukrainian wheat under an annual duty-free quota. The award meant that the EU had now awarded almost 718,363 MT or 75.6% out of a total volume of 950,000 MT available in 2016

- Weekly US wheat export sales data for week ended February 25 of 410,600 MT, incl. 344,300 MT for 2015/16 were within trade expectations (200-450 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 25.454 MMT of grain between July 1-Mar 2, 2015/16, up by 3% from 24.707 MMT a year ago, including:

  • wheat – 18.992 MMT (18.982 MMT a year ago);
  • barley – 3.595 MMT (3.775 MMT);
  • corn – 2.731 MMT (1.595 MMT);
  • others – 206 TMT (355 TMT)

- Russia has 3,006,500 MT of grain in its federal intervention fund as of March 4

- Russia continues grain buying into state fund and planning to buy a total 2 MMT of domestic grain, so far they have bought 1.6 MMT

- Russia's Ag Min raised its 2015 grain production estimate to 104.8 MMT from 104.3 MMT previously, but it is still slightly down vs. 105.3 MMT in 2014

- SovEcon raised its view for Russia's 2016 grain crop to 100-105 MMT from 100 MMT in December, with wheat at 59-62 MMT. If this scenario is realized, about 30-33 MMT of grain will be available for export in 2016/17 vs. 30 MMT this season, including 23-25 MMT wheat

- Mar 15 - Mauritius seeks up to 6,000 MT of optional origin long grain white rice for delivery in containers between May 1-Aug 31. Tender deadline is March 15 with offers remaining valid until April 29

CORN

- Turkey bought 25,000 MT of corn from Russia at 174 $/mt C&F

- Mar 2 - Brazil's Conab sold 106,800 MT of corn out of 150,000 MT offered in domestic stocks auction. So far since the auctions started, they've sold a total of 347,300 MT out of the 500,000 MT announced in January

- Weekly US corn export sales data for week ended Feb 25 of 1,097,600 MT for 2015/16 came in line with trade forecasts ranging from 700 to 1100 TMT. Total current marketing-year US corn export sales are 22% behind the same point last year

- Buenos Aires Grain Exchange maintains its 2015/16 Argentine corn crop estimate at 25 MMT (28.2 MMT in 2014/15). Harvesting of Argentine corn crop was 1.9% completed as of Mar 3, behind of last year's pace of 2.7%

- EU in week ended Mar 1 awarded 260 TMT of corn (maize) import certificates, taking the volume so far this season to 9.715 MMT vs. 6.057 MMT a year ago

- EU in week ended Mar 1 granted licenses to export 41 TMT of corn, bringing the total this season to 1.107 MMT vs. 1.911 MMT a year ago

- EU in week ended Mar 1 granted licenses to export 340 TMT of barley, bringing the total this season to 7.277 MMT vs. 6.149 MMT a year ago

- FranceAgriMer said 93% of France's winter barley crops were in good to excellent condition as of Feb 29, down from 94% prior week but up vs. 90% a year ago

- FranceAgriMer estimated spring barley planting 14% done as of Feb 29, behind of last year's pace of 24%

- Ukraine's Ag Min estimated spring barley planting 4% done as of Mar 4

- Russian Ag Min estimated spring grain planting 0.5% done as of Mar 4

SOYBEAN

- Weekly US soybean export sales data for week ended Feb 25 of 442,200 MT, incl. 440,100 MT for 2015/16 were within the trade expectations ranging from 200,000 to 600,000 MT. Total current marketing-year US soybean export sales are 11% behind the same point last year

- 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 33.2% completed as of Mar 3, ahead of last year's pace of 24.6%

- Brazil's Congress passed a bill to increase its biodiesel blend from 7% to 10% over the next three years

- The Philippines' 2016 coconut oil exports are expected to drop 11% from a year ago to 750,000 MT as an El Nino weather pattern crimps domestic output

- China may face a shortage of canola meal due to its plans to toughen canola import standards for Canada. Chinese feed mills consume about 11 MMT of canola meal a year and soymeal has already replaced the use of canola meal to a large extent since 2015. While feed mills will continue to replace canola meal with soymeal, this cannot be fully done for fish farming

- China this week sold 93,041 MT of rapeseed oil at an average price of 5,335 RMB/mt ($815.4), slightly lower than last week's sale of 105,488 MT. This week's sale brought the government's total sales to 625,000 MT since December when inventory sales restarted