WHEAT

- Feb 7 - Jordan Silos & Supply General Company seeks 25,000 MT of optional-origin hard milling wheat for March 1-25 shipment

- Jan 27 - Japan bought 110,687 MT of food wheat for Feb-Apr shipment:

  • 14,530 MT of western white US wheat;
  • 46,080 MT of hard red winter US wheat;
  • 50,077 MT of Canadian western red spring wheat

- Jan 26 - Egypt's GASC bought 410,000 MT of Russian wheat for March 1-10 shipment:

  • 60,000 MT of Russian wheat from Aston at 203.25 $/mt c&f (194 $/mt fob+9.25 $/mt freight);
  • 60,000 MT of Russian wheat from Grainbow at 203.45 $/mt c&f (192.25 $/mt fob+11.2 $/mt freight);
  • 60,000 MT of Russian wheat from ECTP at 203.9 $/mt c&f (192.7 $/mt fob+11.2 $/mt freight);
  • 60,000 MT of Russian wheat from Louis Dreyfus at 203.94 $/mt c&f (192.74 $/mt fob+11.2 $/mt freight);
  • 110,000 (2x55,000) MT of Russian wheat from Glencore at 204.32 $/mt c&f (192 $/mt fob+12.32 $/mt freight);
  • 60,000 MT of Russian wheat from Alegrow at 204.54 $/mt c&f (192.75 $/mt fob+11.79 $/mt freight)

- Jan 26 - Argentina grants export licenses for 87,869 MT of milling wheat and 8,729 MT of wheat flour

- USDA attaché in Algeria forecasts that wheat production would recover in 2017/18 to 2.7 MMT from 2.0 MMT in 2016/17. Algeria's 2017/18 wheat import is expected at 8.0 MMT, below than 8.2 MMT in 2016/17

- Argentina's Ag Min raised 2016/17 wheat production estimate to 16.5 MMT from 15.7 MMT in December, up 46% from 11.3 MMT in 2015/16

- IKAR said that cold spell expected in parts of Russia's southern regions of Rostov and Krasnodar between Jan 27 and Feb 4 poses risks to winter wheat crop

CORN

- Corn was pressured by fears of reduced exports to Mexico as relations between the US and its neighbour soured

- USDA attaché in Algeria forecasts that barley crop would recover in 2017/18 to 1.3 MMT from 1.0 MMT in 2016/17. Algeria's 2017/18 barley import is expected to decline to 600 TMT from 900 TMT in 2016/17. Algeria's 2017 Finance law increases value added tax from 7% to 9% for many products and will decrease imports of barley, corn, soybean meal, rice, oat, sorghum and DDGs. The increase became effective January 1, 2017. Wheat is not on the list of products to be affected by the increase as it remains exempted from VAT

- 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 98.3% of the crop has been planted as of Jan 26, ahead of last year's pace of 94.8%

- Buenos Aires Grain Exchange expects Argentine 2016/17 sorghum acreage at 800,000 ha/1.977 mln acres, 6% decline from last year (850,000 ha in 2015/16). Exchange estimates 95.7% of the crop has been planted as of Jan 26, ahead last year's pace of 88.2%

- Argentina's Ag Min left its corn acreage forecast for the 2016/17 at 7.25 mln ha/17.92 mln acres, up 5.1% from 6.9 mln ha in 2015/16

- Argentina's Ag Min raised its barley production forecast for the 2016/17 to 3.5 MMT from 3.25 MMT in December, down 28.6% from 4.9 MMT in 2015/16

- Argentina's Ag Min trimmed its 2016/17 sorghum planting area estimate to 840,000 ha/2.076 mln acres from 850,000 ha in December, down 1.2% from last year (850,000 ha)

SOYBEAN

- Indonesian importers have in past days purchased about 120,000 to 150,000 MT of Argentine soymeal largely for April/May shipment, more than the volume (80-90 TMT) previously reported

- Jan 26 - Argentina grants export licenses for 12,000 MT of soybean oil

- Jan 26 - Argentina grants export licenses for 16,608 MT of sunflower meal

- Soybeans were under pressure as fears eased of widespread crop damage in Argentina from flooding

- Buenos Aires Grain Exchange kept its estimate of Argentina's 2016/17 soybean acreage at 19.2 mln ha (47.44 mln acres), down 4.5% from the previous crop year (20.1 mln ha in 2015/16). Exchange estimates 99.5% of the crop has been planted as of Jan 26, behind of last year pace (100%). Buenos Aires Grain Exchange projected Argentina's 2016/17 soybean crop at 53.5 MMT, down 4.5% vs. 56 MMT in 2015/16

- 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 24.6% completed as of Jan 26 vs. last year's pace of 22.9%

- Argentina's Ag Min lowered 2016/17 soybean acreage estimate to 19.8 million hectares/48.93 mln acres from 20.3 mln ha in December, down 3.3% from 20.6 mln ha in 2015/16

- Argentina's Ag Min lowered 2016/17 sunseed acreage estimate to 1.64 million hectares/4.053 mln acres from 1.7 mln ha in December, up 14.3% from 1.435 mln ha in 2015/16

- Indonesia has set crude palm oil export tax at 18 $/mt for February, up from 3 $/mt in January as the government reference price is seen rising to 815.52 $/mt. An export tax of 18 $/mt is applied whenever the export price is between 800 and 850 $/mt