WHEAT

- Feb 2 - Argentina grants export licenses for 29,296 MT of milling wheat

- Statistics Canada (StatsCan) said Canadian wheat inventories as of Dec 31, 2016 rose 16.8% on year to 25.031 MMT, well above than average trade estimate of 24.2 MMT. The gain in stocks reflected a 15.0% increase in wheat production in 2016

CORN

- Feb 2 - Argentina grants export licenses for 129,200 MT of corn

- 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 99.3% of the crop has been planted as of Feb 2, ahead of last year's pace of 98.2%

- European Commission is considering reducing a duty-free import quota for Ukrainian maize

- Armyworm outbreak has spread to Namibia and Mozambique and is causing considerable crop damage in southern Africa. The outbreaks have already detected in Zambia, Zimbabwe, Malawi and South Africa

- Statistics Canada (StatsCan) said Canadian corn inventories as of Dec 31, 2016 rose 3% on year to 11.65 MMT

- Statistics Canada (StatsCan) said Canadian barley inventories as of Dec 31, 2016 rose 11.7% on year to 6.352 MMT, slightly above than average estimate of 6.3 MMT

- Statistics Canada (StatsCan) said Canadian oats inventories as of Dec 31, 2016 fell 5.3% on year to 3.371 MMT, slightly above than average estimate of 3.3 MMT

SOYBEAN

- Feb 2 - Argentina grants export licenses for 31,760 MT of soybean oil, 18,695 MT of soymeal and 8,400 MT of sunflower meal

- 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 100% of the crop has been planted as of Feb 2. 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 30.4% completed as of Feb 2 vs. last year's pace of 25.5%

- Statistics Canada (StatsCan) said Canadian canola inventories as of Dec 31, 2016 fell 9.6% on year to 12.159 MMT, slightly below than average estimate of 12.2 MMT and the smallest Dec 31 level in four years, with domestic crushing and exports both running faster than the year-ago pace

- Statistics Canada (StatsCan) said Canadian soybean inventories as of Dec 31, 2016 fell 4.3% on year to 3.393 MMT