WHEAT

- Jan 20 - Taiwan Flour Millers' Association seeks 93,605 MT of US milling wheat for March-April shipment

- Jan 13 - Turkey's TMO bought a total of about 99,000 MT of EU wheat, min. 14% protein, at around 232-240 $/mt c&f for Jan 20-Feb 7 shipment:

  • 54,000 MT from Anagro at 884 Turkish lira/mt (232.5 $/mt) c&f Mersin;
  • 9,000 MT from Hakan Agro at 906 Turkish lira/mt (238.3 $/mt) c&f Tekirdag;
  • 9,000 MT from Hakan Agro at 910 Turkish lira/mt (239.3 $/mt) c&f Samsun;
  • 9,000 MT from Hakan Agro at 912 Turkish lira/mt (239.9 $/mt) c&f Samsun;
  • 9,000 MT from Glencore at 905 Turkish lira/mt (238.0 $/mt) c&f Izmir;
  • 9,000 MT from Glencore at 911 Turkish lira/mt (239.6 $/mt) c&f Izmir

- Jan 13 - Tunisia bought 100,000 MT of durum wheat for Feb-Apr shipment:

  • 25,000 MT of durum wheat from Casillo at 273.96 $/mt c&f;
  • 25,000 MT of durum wheat from Casillo at 273.96 $/mt c&f;
  • 25,000 MT of durum wheat from Glencore at 274.29 $/mt c&f;
  • 25,000 MT of durum wheat from Glencore at 274.29 $/mt c&f

- Jan 12 - South Korea's Major Feedmill Group (MFG) bought about 60,000 MT of optional origin feed wheat in a private deal from Concordia at 187.88 $/mt c&f plus a 1.5 $/mt surcharge for additional port unloading for April arrival

- Jan 12 - Argentina grants export licenses for 34,143 MT of milling wheat

- Buenos Aires Grain Exchange kept its forecast of Argentine 2016/17 wheat crop at 15 MMT unchanged from prior week, up 39% from 2015/16 crop (10.8 MMT). Harvesting of Argentine wheat crop was 98.7% completed as of Jan 12, ahead of last year's pace of 94.4%

- USDA reported US Dec 1 wheat stocks at 2.073 billion bushels (56.41 MMT), up from 1.746 billion bu (47.52 MMT) a year earlier and the highest Dec 1 figure since 1987

- USDA pegged US winter wheat plantings for harvest in 2017 at 32.4 million acres (13.1 mln ha), down 10% from a year ago and the least in more than a century

- USDA raised its forecast of US 2016/17 wheat ending stocks to 1.186 billion bushels (32.28 MMT) from 1.143 billion in Dec, above an average of trade estimates for 1.148 bln bu

- USDA raised global 2016/17 wheat production estimate to 752.69 MMT, up by 1.4 MMT from previous estimate, 17.2 MMT above the last year's record, mainly on larger crops in Argentina, the EU, and Russia. Global trade is boosted to a new record with stronger import demand from several Asian countries and Brazil. Larger exports for Australia, Argentina, and the EU are partially offset by a decrease for Canada

- USDA raised its forecast for 2016/17 world wheat inventories to a record of 253.29 MMT from November estimate of 252.14 MMT and vs. average expectation of 252.01 MMT (250.23-254 – range)

CORN

- USDA reported US Dec 1 corn stocks at 12.384 billion bushels (314.56 MMT), bigger than average expectations (12.3 bln bu) and up from 11.235 billion (285.39 MMT) a year earlier

- USDA trimmed its estimate of the US 2016 corn yield to 174.6 bushels per acre (10.96 mt/ha), still an all-time high, but down from its previous figure of 175.3 bpa and below an average of trade estimates for 175.1 bpa

- USDA lowered its forecast of US 2016/17 corn ending stocks to 2.355 billion bushels (59.82 MMT) from 2.403 billion in Dec, below an average of trade estimates for 2.385 bln bu

- USDA decreased its 2016/17 global corn production forecast by 1.8 MMT to still a record 1,037.9 MMT, up 8% from last year's level, with reductions for the US and Bolivia more than offsetting an increase for Serbia. Global trade is projected slightly higher led by larger imports for Bolivia, Brazil, and the US more than offsetting a reduction for Indonesia. Exports are raised for the EU and Serbia

- USDA trimmed its forecast for 2016/17 world corn inventories to a record 220.98 MMT from December estimate of 222.25 MMT and below average expectation of 221.94 MMT (218-225 – range)

- Buenos Aires Grain Exchange kept its forecast for Argentine 2016/17 corn acreage at 4.9 mln ha (3.85 mln ha in 2015/16). Exchange estimates 90.7% of the crop has been planted as of Jan 12, ahead last year's pace of 89.4%

- Buenos Aires Grain Exchange expects Argentine 2016/17 sorghum acreage at 800,000 ha, 6% decline from last year (850,000 ha in 2015/16). Exchange estimates 83.5% of the crop has been planted as of Jan 12, ahead last year's pace of 79%

SOYBEAN

- Jan 13 - USDA announced export sales of 132,000 MT of US soybeans for delivery to unknown destinations during 2016/17

- Jan 12 - Argentina grants export licenses for 12,000 MT of soybean oil and 10,000 MT of soymeal

- China imported 9 MMT of soybeans in December, the highest in a year, up 14.8% from November and near year-ago level (9.12 MMT in Dec 2015). Total imports for 2016 came to 83.9 MMT, up 2.7% on the previous year

- China's imports of all vegetable oils in December was 760,000 MT up 49% from 510,000 MT in November

- USDA reported US Dec 1 soybean stocks at 2.895 billion bushels (78.79 MMT), less than average expectations (2.935 bln bu) but up from 2.714 billion (73.87 MMT) a year earlier

- USDA trimmed its estimate of the US 2016 soybean yield to 52.1 bushels per acre (3.5 mt/ha), still an all-time high, but down from its previous figure of 52.5 bpa and below an average of trade estimates for 52.7 bpa

- USDA lowered its forecast of US 2016/17 soybean ending stocks to 420 million bushels (11.43 MMT) from 480 million last month, below an average of trade estimates for 468 mln bu

- USDA trimmed its forecast of global soybean production in 2016/17 by 0.15 MMT to a record 337.85 MMT on reduced harvests in Bolivia, Uruguay, and the US more than offsetting gains in Brazil, China, and Russia. Soybean imports are projected higher this month on stronger demand from Argentina. Exports are up on higher shipments from Brazil exceeding lower trade from Bolivia and Uruguay

- USDA lowered its forecast for 2016/17 world soybean ending stocks to 82.32 MMT from December estimate of 82.85 MMT and vs. 77.19 MMT in 2015/16, below average expectation of 82.58 MMT (79.6-84.2 MMT – range)

- Buenos Aires Grain Exchange kept its estimate of Argentina's 2016/17 soybean acreage at 19.3 mln ha, down 4% from the previous crop year (20.1 mln ha in 2015/16). Exchange estimates 96.4% of the crop has been planted as of Jan 12, in line with last year pace (96.5%)

- Buenos Aires Grain Exchange forecasts Argentine 2016/17 sunflower crop at 3.5 MMT, up 40% from 2015/16 crop (2.5 MMT). Harvesting of Argentine sunflower crop was 11.9% completed as of Jan 12 vs. last year's pace of 14.1%