WHEAT

- Mar 18 - CCC bought 56,900 MT of US HRW for donation to Yemen for Apr 18-28 shipment

- Mar 16 - Algeria's OAIC bought around 150,000 MT of durum wheat seen likely to be sourced from Canada at between 278-280 $/mt c&f for April shipment. But some traders put the prices lower, as low as at 270-275 $/mt c&f. The other origins such as some Mexican old crop and French were refused due to higher prices of around 285-290 $/mt c&f

- Russia's Ag Min said Russia exported about 26.679 MMT of grain between July 1-Mar 16, 2015/16, up by 4.3% from 25.579 MMT a year ago, including:

  • wheat – 19.638 MMT (19.299 MMT a year ago);
  • barley – 3.727 MMT (4.145 MMT);
  • corn – 3.089 MMT (1.752 MMT);
  • others – 224 TMT (383 TMT)

- Russia has 3,082,500 MT of grain in its federal intervention fund as of March 18

- Rosselkhoznadzor estimated Russian grain exports between Jul 1-Mar 21, 2015/16 at 29.82 MMT (incl. 19.99 MMT of wheat) compared with 30.95 MMT (19.88 MMT) in Jul 1-Mar 31 of 2014/15

- Informa Economics projected US 2016 all-wheat seedings at 51.2 million acres (51.1 mln acres in Jan), including 36.9 million acres of winter wheat, 12.54 million of spring wheat other than durum, and 1.785 million acres of durum wheat

- Indian Farm Ministry expects to harvest at least 92-93 MMT of wheat this year despite rains and hail pummelling the crop. In February the ministry forecast India's 2016 wheat output at 93.82 MMT, lower than a target of 94.75 MMT, but higher than the previous year's production of 86.53 MMT

- Iraq's state grains buyer purchased 30,000 MT of rice from Argentina at 468 $/mt c&f free out. The tender closed on Mar 8 with offers having to remain valid until Mar 14

CORN

- Brazil bought 100,000 MT of corn from Paraguay

- Informa Economics raised its forecast for US 2016 corn plantings to 89.5 million acres from 88.869 mln acres previously

- JCI says China has bought 97.2 MMT of corn into reserve from this crop year for a total of 247 MMT in the reserve

- Japan's use of corn in animal feed climbed to 46.3% in January, up 0.9% points from December (45.4%) and 1.7% points above year-ago levels (44.6% in Jan 2015). Its use of wheat and barley was basically unchanged from month and year-ago levels at 1.6% and 3.3%, respectively. Japan's sorghum usage in feed rations stood at 3.0% for January, up marginally from December (2.9%) but down 1.5% points from the year prior (4.5% in Jan 2015)

- Louis Dreyfus, one of the world's largest traders of agricultural commodities, reported a sharp drop in full-year profit and announced a new brand strategy as it tries to weather a market downturn. Louis Dreyfus' net income, group share, shrank to $211 million last year from $648 million in 2014, while net sales fell to $55.7 billion from $64.7 billion. The group has changed its name to Louis Dreyfus Company B.V. from Louis Dreyfus Commodities as part of a 10-year strategy called "Vision 2025"

SOYBEAN

- Informa Economics cut its outlook for US soybean plantings to 84.0 mln acres from 85.23 mln acres in January

- Oil World raised its South American soybean crop estimate at a new high of 174.7 MMT, up 1.5 MMT from a month earlier and 3.0 MMT above the previous record achieved a year earlier. Crop estimate for Argentina was upped by 1.5 MMT to 59.5 MMT, for Brazil and Paraguay left unchanged at 100.0 and 9.2 MMT, respectively

- Surveyor SGS estimated Malaysia's Mar 1-20 palm oil exports at 717,670 MT up 23.2% from a month ago

- Surveyor Intertek Testing Services estimated Malaysia's Mar 1-20 palm oil exports at 712,954 MT up 19.8% from a month ago

- Central Organisation for Oil Industry and Trade (COOIT) expects India to produce 5.8 MMT of rapeseed in 2015/16, up 16% from a year ago (5 MMT in 2014/15)

- Oil World expects 2015/16 global production of the 17 major oils & fats to increase by only 2.2 MMT to 206.9 MMT, while world consumption seen at 208.3 MMT, implying an unusually large production deficit of 1.4 MMT