WHEAT

- Jan 20 - Egypt's GASC seeks an unspecified amount of wheat from global suppliers for Feb 22- Mar 3 shipment. The lowest offer was 188.74 $/mt fob for 60,000 MT of Ukrainian wheat

- Jan 20 - Taiwan Flour Millers' Association bought 93,605 MT of US milling wheat in two consignments:

  • The first consignment was bought from CHS and has an additional charge of 25.06 $/mt for ocean shipping from the US Pacific North West coast to Taiwan for shipment between March 17-31:
    • 27,095 MT of dark northern spring wheat (14.5% protein) at 290.30 $/mt fob;
    • 13,305 MT of hard red winter wheat (12.5% protein) at 249.64 $/mt fob;
    • 11,600 MT of soft white wheat (9% protein) at 204.90 $/mt fob.
  • The second consignment was bought from Columbia Grain and has an additional charge of 28.95 $/mt for ocean shipping from the US Pacific North West coast to Taiwan for shipment between April 2-16:
    • 28,305 MT of dark northern spring wheat (14.5% protein) at 278.81 $/mt fob;
    • 13,300 MT of hard red winter (12.5% protein) at 235.90 $/mt fob

- Jan 19 - South Korean flour mills bought about 100,000 MT of US milling wheat and around 87,500 MT of Australian wheat:

  • The first consignment of 35,000 MT of US wheat for shipment between June 1-30, 2017:
    • 8,400 MT of hard red winter, min 11.5% protein, at 206.10 $/mt fob;
    • 26,600 MT of (dark) northern spring, min 14% protein, at 254.00 $/mt fob.
  • The second consignment of 35,000 MT of US wheat for shipment between June 1-30, 2017:
    • 31,450 MT of soft white, max 10.5% protein, at 173.53 $/mt fob;
    • 3,550 MT of soft white, max 8.5% protein, at 204.44 $/mt fob.
  • The third consignment of 30,500 MT of US wheat for shipment between June 5-July 5, 2017:
    • 14,200 MT of soft white, max 10.5% protein, at 175.28 $/mt fob;
    • 6,500 MT of hard red winter, min 11.5% protein, at 206.16 $/mt fob;
    • 9,800 MT of (dark) northern spring, min 14% protein, at 253.13 $/mt fob.
  • The first consignment of 54,500 MT of Australian wheat for shipment between June 1-30, 2017:
    • 42,500 MT of Australian standard white wheat (10.3-11% protein) at 214.75 $/mt fob;
    • 6,000 MT of Australian hard wheat (min 11.5% protein) at 230 $/mt fob;
    • 6,000 MT of Australian premium white wheat (min 10.5% protein) at 210 $/mt fob.
  • The second consignment of 33,000 MT of Australian wheat for shipment between June 15-July 15, 2017 comprised Australian standard white (10.3-11% protein) at 215.50 $/mt fob and hard wheat (min 11.5% protein) at 230.00 $/mt fob

- Ethiopia has reduced an international tender for milling wheat to 400,000 MT from 720,000 MT previously announced. The tender from the PPPDS closes on Feb 3. The wheat is now sought in three consignments (133,334 MT for March, 133,334 MT for April and 133,332 MT for May shipment)

- Jan 19 - Argentina grants export licenses for 69,126 MT of milling wheat

- Hungary may export up to 200,000 MT of wheat to China in the next three years under an agreement between Shanghai-based Chi Fu Eurotrading and its Chinese partners

- Weekly US wheat export sales data for week ended Jan 12 totalled 303,000 MT, incl. 242,500 MT for 2016/17 (just below the low end of trade expectations for 250-450 TMT). Export commitments for 2016/17 are running 32% ahead of year-ago

- Farm Futures' survey projected US all-wheat plantings for harvest in 2017 at 45.68 million acres (18.49 mln ha)

- Buenos Aires Grain Exchange kept its estimate 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 100% completed as of Jan 19, ahead of last year's pace of 99.5%

CORN

- Jan 20 - USDA announced export sales of 126,312 MT of US corn for delivery to unknown destinations during 2016/17

- Jan 20 - South Korea's Korea Corn Processing Industry Association (KOCOPIA) bought around 60,000 MT of optional origin corn at 195.9 $/mt c&f including surcharge for additional port unloading for April 25 arrival

- Jan 19 - Argentina grants export licenses for 80,880 MT of corn

- Jan 19 - Argentina grants export licenses for 25,000 MT of barley

- Weekly US corn export sales data for week ended Jan 12 of 1,379,900 MT, incl. 1,367,600 MT for 2016/17 (topped trade expectations for 900-1200 TMT). Export commitments for 2016/17 are running 69% ahead of year-ago

- According to Farm Futures' survey, US corn seedings may drop this spring to 90.49 million acres (36.62 mln ha), down from the 94.0 million acres (38.04 mln ha) in 2016

- US Ethanol production for the week ended Jan 13 rose by 5,000 barrels to a new record 1,054,000 barrels per day, up 7.2% from last year's level of 983,000 bpd. Stocks climbed by 1,106,000 barrels from the week prior to 21.115 million barrels but still down 3.8% vs. 21.94 million barrels a year ago

- Buenos Aires Grain Exchange kept its forecast for Argentine 2016/17 corn acreage at 4.9 mln ha/12.11 mln acres (3.85 mln ha in 2015/16). Exchange estimates 95.3% of the crop has been planted as of Jan 19, ahead of last year's pace of 92.5%

- Buenos Aires Grain Exchange estimated Argentine 2016/17 barley crop at 3 MMT, down 29.4% from 2015/16 crop (4.25 MMT). Harvesting of Argentine barley crop was 100% completed as of Jan 19

- Japan's use of corn in animal feed declined to 45.8% in November from 46% in October and in line with year-ago level (45.8% in Nov 2015). Its use of barley was steady at 3.4%, unchanged from month ago and vs. 3.3% year-ago; while wheat usage left at 1.9% but above year-ago (1.6%). Japan's sorghum usage in feed rations stood at 2.5% for November, unchanged from October but down 0.7% points from the year prior (3.2% in Nov 2015)

- China's 2016 pork output fell 3.4% year-on-year to 52.99 MMT, the lowest level since 2011, but production of beef hit a decade-high (7.2 MMT, +2.4% y/y) after low milk prices prompted farmers to slaughter more dairy cattle. Lamb output jumped 4.2% to 4.59 MMT. Poultry production climbed 3.4% to 18.9 MMT

SOYBEAN

- Weekly US soybean export sales data for week ended Jan 12 of 1,046,300 MT, incl. 979,600 MT for 2016/17 (topped the high end of a range of trade estimates of 400-600 TMT). Export commitments for 2016/17 are running 23% ahead of year-ago

- According to Farm Futures' survey US farmers may plant 90.52 million acres (36.63 mln ha) of soybeans this spring, topping the record high set last year by about 7 million acres (83.4 mln acres/33.75 mln ha in 2016)

- Argentina's Rosario grains exchange lowered its forecast of the country's soybean harvest to 52.9 MMT from 54.4 MMT previously

- Buenos Aires Grain Exchange lowered its estimate of Argentina's 2016/17 soybean acreage to 19.2 mln ha (47.44 mln acres) from 19.3 mln ha week ago, down 4.5% from the previous crop year (20.1 mln ha in 2015/16). Exchange estimates 99.1% of the crop has been planted as of Jan 19, ahead of last year pace (98.4%)

- 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 16.6% completed as of Jan 19 vs. last year's pace of 18.5%

- Surveyor Intertek Testing Services estimated Malaysia's January 1-20 palm oil exports at 739,367 MT up 17.5% from a month ago

- Surveyor SGS estimated Malaysia's January 1-20 palm oil exports at 733,002 MT up 20.8% from a month ago

- India imported 1.21 MMT of veg oils (edible & non-edible) in December vs. 1.175 MMT in November, down 15% from 1.421 MMT a year ago

- India imported 2.33 MMT of edible veg oils in Nov-Dec 2016 vs. 2.742 MMT in Nov-Dec 2015

- India imported 473,179 MT of crude palm oil in December vs. 557,364 MT in Nov and vs. 551,058 MT a year ago. India's Nov-Dec 2016 crude palm oil imports at 1.031 MMT vs. 1.178 MMT a year ago

- India imported 245,554 MT of RBD palmolein in December vs. 240,948 MT in Nov and vs. 231,810 MT a year ago. India's Nov-Dec 2016 RBD palmolein imports at 486,502 MT vs. 463,482 MT a year ago

- India imported 232,132 MT of soybean oil in December vs. 164,286 MT in Nov and vs. 490,718 MT a year ago. India's Nov-Dec 2016 soybean oil imports at 396,418 MT vs. 747,554 MT a year ago

- India imported 185,824 MT of sunflower oil in December vs. 158,071 MT in Nov and vs. 102,740 MT a year ago. India's Nov-Dec 2016 sunflower oil imports at 343,895 MT vs. 280,398 MT a year ago

- India imported 33,182 MT of rapeseed oil in December vs. 32,195 MT in Nov and 25,609 MT a year ago. India's Nov-Dec 2016 rapeseed oil imports at 65,377 MT vs. 50,459 MT a year ago

- India's stock of edible oils as of January 1, 2017 at various ports is estimated at 695,000 MT (CPO 240,000 MT, RBD palmolein 145,000 MT, degummed soybean oil 210,000 MT, crude sunflower oil 90,000 MT and 10,000 MT of rapeseed (canola) oil) and about 1,150,000 MT in pipelines. Total stock at ports and in pipelines increased to 1.845 MMT from 1.825 MMT a month ago but well below last year's 2.51 MMT. India's monthly requirement is about 1.65 MMT