WHEAT

- Jan 17 - Morocco's ONICL bought 359,998 MT of US soft wheat for arrival by April 30 under a preferential tariff agreement, while it had received no offers to buy 327,273 MT of US durum

- Jan 17 - Argentina grants export licenses for 176,330 MT of milling wheat

- US wheat export inspections for week, ending Jan 12, recorded 344,436 MT, within market expectations (300-500 TMT). Inspections for 2016/17 are running 25.3% ahead of year-ago

- Jan 17 - China sold 253,702 MT of wheat from state reserves or 9.6% of the of the offered amount (2,639,203 MT) at auction at average price of 2,512 RMB/mt (366 $/mt)

CORN

- Jan 18 - Japan received no offers for 120,000 MT of feed wheat and 200,000 MT of feed barley in a simultaneous buy and sell (SBS) auction. New SBS tender for the same amounts for each grain will be held on Jan 25

- Indonesia Feed Mill Association said that Indonesia may not import any corn or wheat for animal feed in 2017 due to sufficient local production. Indonesia imported 2 MMT feed wheat last year and 840,000 MT of corn

- Dr. Michael Cordonnier trimmed his forecast of South America's 2016/17 corn crop for a second consecutive week by 0.5 MMT to 124.3 MMT (97.2 MMT in 2015/16) due to decrease forecast for Argentina by 0.5 MMT to 34.0 MMT (27 MMT in 2015/16)

- US corn export inspections for week, ending Jan 12, reported 888,009 MT, in line with market forecasts (800-1000 TMT). Inspections for 2016/17 are running 77% ahead of year-ago

- Mexico corn farmer federation CNPAMM said that yellow corn imports, nearly all of which come from the US, would jump to between 16.8-19.2 MMT during 2017/18 season, which begins in April, from a projected 14-16 MMT this season

SOYBEAN

- Dr. Michael Cordonnier lowered his forecast of South America's 2016/17 soybean crop this week by 4 MMT to 169.2 MMT (165.5 MMT in 2015/16) due to decrease forecast for Argentina by 4 MMT to 51 MMT (56 MMT in 2015/16). He guessed that around 10% of Argentine crop may be impacted by heavy rains

- US soybean export inspections for week, ending Jan 12, reported 1,409,466 MT, just above the top end of market expectations that ranged from 1.1 to 1.4 MMT. Inspections for the 2016/17 marketing year are running 17.2% ahead of year-ago

- US soybean crushings dropped below market expectations during December even as overseas demand for soymeal rose to its highest in nearly two years. NOPA said its members crushed 160.176 million bushels of soybeans during December, less than expected (162.813 million bu – avg., 160-164.3 mln bu – range), but higher than a year earlier. NOPA processors crashed 160.752 mln bu in November and 157.711 mln bu a year ago. Soyoil stocks rose to 1.434 billion lbs as of December 31 from 1.339 a month earlier, above the average expectations of 1.352 billion lbs, but down from last year's level of 1.481 billion lbs. Soymeal exports rose to 949,615 tons from 804,332 tons in Nov and vs. 839,874 tons a year ago