WHEAT

- Jan 23 - Argentina grants export licenses for 32,020 MT of milling wheat

- US wheat export inspections for week, ending Jan 19, recorded 276,205 MT, below the market expectations (300-500 TMT). Inspections for 2016/17 are running 25.9% ahead of year-ago

- Jan 24 - China sold 173,287 MT of wheat from state reserves or 6.7% of the of the offered amount (2,597,906 MT) at auction at average price of 2,494 RMB/mt (363 $/mt)

- USDA attaché estimated Turkey's 2016/17 wheat production at 17.25 MMT, less than USDA's official estimate of 17.5 MMT and down 11.5% from 2015/16 (19.5 MMT). They maintain import forecast at 5 MMT of wheat in 2016/17 (4.38 MMT in 2015/16). Turkey has imported about 2.2 MMT of wheat during the first six months of MY 2016/17, of which about 500,000 MT was durum wheat. Russia was the main supplier with 1.3 MMT. Mexico (283,000 MT), Canada (116,000 MT) and Kazakhstan (55,000 MT) were the other leading suppliers

- USDA attaché's forecast for Thailand's wheat imports remains unchanged at 3.6 MMT, down 23% from 2015/16 due to the government's restrictions on imported feed wheat. During the first five months of 2016/17, wheat imports totaled 2.3 MMT, up 15% from the same period last year due to increased imports of feed wheat. Imports of feed wheat totalled around 1.8 MMT, up 24% from the same period last year. However, feed wheat imports are likely to slow down in the second half of the 2016/17 in response to the new government restrictions

CORN

- Jan 24 - USDA announced export sales of 125,000 MT of US corn for delivery to unknown destinations during 2016/17

- Jan 19 - Iran's SLAL bought 130,000 MT of barley, likely from Australia, in two equal consignments at around 185 euros/mt ($198.5) c&f for February shipments

- Jan 19 - Iran's SLAL made no purchase of 120,000 MT of corn because of a lack of offers

- Jan 23 - Argentina grants export licenses for 32,000 MT of sorghum

- US corn export inspections for week, ending Jan 19, reported 963,897 MT, in line with market forecasts (800-1000 TMT). Inspections for 2016/17 are running 76.3% ahead of year-ago

- Armyworm outbreak has spread across all 28 districts of Malawi, threatening maize crops

- USDA attaché lowered its estimate of Turkey's corn imports in 2016/17 to 1 MMT (1.5 MMT – USDA's official projection) due to unstable currency, TMO's strong sales, unstable feed sector demand and a reduced tendency by the private sector to want to grow their stocks in an uncertain economic environment

- Barley planting is finished across Turkey, and planted area is expected to increase from last year because of high prices

- USDA attaché's estimate of Thailand's 2016/17 corn production remains unchanged at 5.2 MMT, up 11% from 2015/16. The downward pressure on domestic corn prices has led the government to impose import restriction on feed wheat and to pursue more stringent import measures on alternative feed ingredients, DDGS in particular

- Bangladesh discovered two outbreaks of the H5N1 bird flu virus in poultry last week

- Italy reported an outbreak of the H5N8 bird flu virus at a turkey farm in the northern part of the country

- Kuwait reported an outbreak of the H5N8 bird flu virus in ducks, geese and pheasants

SOYBEAN

- Jan 24 - USDA announced export sales of 275,000 MT of US soybeans for delivery:

  • 163,000 MT to unknown destinations during 2016/17 (103 TMT) and 2017/18 (60 TMT);
  • 112,000 MT to Mexico during 2016/17 (42 TMT) and 2017/18 (70 TMT)

- Jan 23 - Argentina grants export licenses for 18,500 MT of soymeal and 5,000 MT of soybean oil

- Jan 23 - Argentina grants export licenses for 7,458 MT of sunflower meal and 6,000 MT of sun oil

- US soybean export inspections for week, ending Jan 19, reported 1,290,777 MT, just below the low end of market expectations that ranged from 1.3 to 1.5 MMT. Inspections for the 2016/17 marketing year are running 16.9% ahead of year-ago

- Argentine December soybean crush was reported at 3.38 MMT, down from revised of 3.65 MMT in November but up 29% from last year. Full-year crush rose 8.7% on year to 44.48 MMT

- Argentina's soy oil production during 2016 grew 9.8% to 8.67 MMT compared with previous year

- Argentine December sunflower crush was reported at 139,675 MT, up from 93,321 MT in November but down 12.6% from last year. Full-year 2016 crush rose 4.4% on year to 2.75 MMT

- Argentina's sunflower oil production grew 2% to 1.13 MMT during 2016

- Soybean prices have been pressured by forecasts of better crop weather in Argentina following floods this month that threatened crops. Argentina is expected to experience hot and dry conditions this week. That pattern should allow for flooded regions to dry out more quickly