WHEAT

- Apr 10 - The lowest offer in Iraq's tender for 50,000 MT of hard wheat came in at 238 $/mt c&f free out from ADM for US HRW. Other offers: 239.5; 243,45; 243.85 and 243.95 $/mt for US wheat; the lowest offers for Australian wheat at 249.75 $/mt and for Canadian wheat at 258.86 $/mt c&f free out. The tender closed on April 10 and offers must remain valid up to April 14

- Apr 8 - Taiwan Flour Millers' Association bought 109,792 MT of US milling wheat in two consignments:

  • The first consignment from Itochu has an additional charge of 16.6 $/mt for ocean shipping from the US Pacific North West coast to Taiwan for shipment between May 22-June 6:
    • 18,528 MT of dark northern spring wheat (14.5% protein) at 227.08 $/mt fob;
    • 18,952 MT of hard red winter wheat (13% protein) at 206.45 $/mt fob;
    • 17,520 MT of soft white wheat (10.5% protein) at 200.13 $/mt fob.
  • The second consignment from Cargill has an additional charge of 17.25 $/mt for ocean shipping from the US Pacific North West coast to Taiwan for shipment between June 5-19:
    • 31,914 MT of dark northern spring wheat (14.5% protein) at 230.61 $/mt fob;
    • 22,878 MT of hard red winter (13% protein) at 210.37 $/mt fob

- South Korea's Major Feedmill Group (MFG) late last week bought 69,000 MT of feed wheat from Cargill at 179.90 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for July 17-Aug 5 shipment

- Russia's Ag Min said Russia exported about 28.745 MMT of grain between July 1-Apr 6, 2015/16, up by 8.1% from 26.589 MMT a year ago, including:

  • wheat – 21.026 MMT (19.569 MMT a year ago);
  • barley – 3.919 MMT (4.531 MMT);
  • corn – 3.552 MMT (2.062 MMT);
  • others – 248 TMT (427 TMT)

- Rosselkhoznadzor estimated Russian grain exports between Jul 1-Apr 11, 2015/16 at 31.85 MMT (incl. 21.03 MMT of wheat) compared with 32.93 MMT (20.46 MMT) in Jul 1-Apr 30 of 2014/15

- Russia has 3,161,500 MT of grain in its federal intervention fund as of April 8

- IKAR expects Russia's wheat export prices to fall 4% from current levels when the new crop is delivered to the market. Prices for the new wheat crop with 12.5% protein for August delivery are quoted now at 176.5 $/mt fob Black Sea. The current spot prices are 183 $/mt

CORN

- Apr 8 - Argentina grants export licenses for 225,000 MT of corn

- Apr 8 - USDA announced export sales of 120,000 MT of US corn for delivery to unknown destinations during 2015/16

- Brazil may import about 0.7-1 MMT of corn from Argentina this season

- Argentine government is planning to increase the ethanol blend in fuel from the current 12% to a maximum 26% next year

- India to keep regulating seed prices

SOYBEAN

- Apr 8 - Argentina grants export licenses for 50,700 MT of soybeans, 80,000 MT of soymeal and 10,084 MT of soybean oil

- MPOB estimated Malaysian crude palm oil production in March at 1.22 MMT vs. average expectation of 1.13 MMT and 1.04 MMT in February with the lowest end-stocks since March 2015 at 1.885 MMT down 13% on month and below the average market expectation of 1.95 MMT. Malaysian March palm oil exports climbed to 1.334 MMT, up 23% on month and above the average expectation of 1.22 MMT

- Surveyor Intertek Testing Services estimated Malaysia's Apr 1-10 palm oil exports at 320,990 MT down 2% from a month ago

- Surveyor SGS estimated Malaysia's Apr 1-10 palm oil exports at 305,483 MT down 0.9% from a month ago

- Iraq is planning to import cooking oil from Egypt, as Baghdad moves to reduce its dependence on Turkish products