WHEAT

- Mar 1 - Japan bought 113,167 MT of food wheat for Apr-May shipments:

  • 36,192 MT of western white US wheat;
  • 24,155 MT of hard red winter US wheat;
  • 25,070 MT of dark northern spring US wheat;
  • 27,750 MT of Australian standard white wheat

- Mar 1 - Japan bought 8,830 MT of feed wheat for August 31 arrival via SBS-tender. New SBS tender for 120,000 MT of feed wheat and 200,000 MT of feed barley will be held on Mar 8

- Feb 28 - Egypt’s GASC bought 535,000 MT of wheat from Russia (235 TMT), Romania (120 TMT), France (120 TMT) and Ukraine (60 TMT) for Apr 1-10 shipment:

  • 60,000 MT of Russian wheat from AOS at 208.65 $/mt c&f (197.80 $/mt fob+10.85 $/mt freight);
  • 60,000 MT of Romanian wheat from Cerealcom at 209.29 $/mt c&f (197.89 $/mt fob+11.40 $/mt freight);
  • 60,000 MT of Russian wheat from Daewoo at 210.09 $/mt c&f (198.85 $/mt fob+11.24 $/mt freight);
  • 60,000 MT of Russian wheat from Alegrow at 210.34 $/mt c&f (198.70 $/mt fob+11.64 $/mt freight);
  • 60,000 MT of French wheat from Cargill at 211.12 $/mt c&f (197.00 $/mt fob+14.12 $/mt freight);
  • 55,000 MT of Russian wheat from Glencore at 211.65 $/mt c&f (198.75 $/mt fob+12.90 $/mt freight);
  • 60,000 MT of Romanian wheat from Cargill at 211.75 $/mt c&f (200.50 $/mt fob+11.25 $/mt freight);
  • 60,000 MT of Ukrainian wheat from Daewoo at 212.50 $/mt c&f (199.50 $/mt fob+13.00 $/mt freight);
  • 60,000 MT of French wheat from Lecureur at 213.12 $/mt c&f (199.00 $/mt fob+14.12 $/mt freight)

- Egypt has enough strategic wheat reserves to last for next four months

- Ukraine's Ag Min said Ukraine exported 29.43 MMT of grain between July 1-Mar 1, 2016/17, up 8.9% from 27.01 MMT for the same period last season, including:

  • wheat – 13.561 MMT (vs. 11.841 MMT a year ago);
  • barley – 4.663 MMT (3.963 MMT);
  • corn – 11.05 MMT (11.043 MMT)

- India could impose a 25% import tax on wheat by the middle of March. India lowered the import tax on the grain to 10% from 25% in September 2016 and scrapped the duty on Dec 8, 2016

- Morocco may harvest 7 MMT of cereal crop, twice up from last season's low crop of 3.35 MMT, due to better rainfall

- Mar 1 - China auctioned 7,345 MT of 2013 imported wheat from state reserves, or 7.2% of the offered amount (101,758 MT), at average price of 2,500 RMB/mt (363 $/mt)

- Feb 28 - China sold 299,653 MT of wheat from state reserves or 11.5% of the of the offered amount (2,614,522 MT) at auction at average price of 2,497 RMB/mt (363 $/mt)

- Bulgaria's Ag Min said Bulgaria exported 1.512 MMT of wheat via port Varna between July 4-Feb 26, 2016/17, up 12.5% from a year-ago (1.344 MMT)

CORN

- Japan’s Ag Min had received and approved applications from 11 feedmakers by end-February for the use of 340,000 MT of grains (mostly corn, including a small volume of wheat) from the 850,000 MT held in emergency stockpiles due to a delay in shipments from the United States. A total of 17 Japanese feedmakers are required to hold the emergency stocks of feed grains, mainly corn, and need to seek approval from the government to use stocks in an emergency

- EIA estimated US ethanol production for December at 32.467 million barrels versus 30.565 million barrels in November and vs. 31.081 million barrels a year ago

- EIA reported December ethanol inventory at 19.531 million barrels, which is up 2.1% from November but 9.6% less from last year

SOYBEAN

- Oil World forecasts 2016/17 Brazilian soybean crop at a record 105.0 MMT (95.4 MMT last year)

- Oil World forecasts 2016/17 Argentine soybean crop at 54.0 MMT (55.3 MMT last year)

- Mar 1 - China sold 99,966 MT of rapeseed oil produced in 2012 and 2013 from state reserves or 100% of the offered amount at auction at an average price of 6,477 RMB/mt (942 $/mt). Since Oct 12, 2016, the accumulated traded quantity was 1,978,728 MT

- China’s sunflower oil imports fell to 33,830 MT in January 2017, down 41.9% from a year-ago (58,246 MT in Jan 2016). Top suppliers included Ukraine (17,426 MT; -58.2% y/y), Russia (12,833 MT; -1.8% y/y) and Kazakhstan (2,835 MT; +95% y/y)

- EIA said US December biodiesel production at 143 million gallons vs. 142 million gallons in November and vs. 108 million gallons a year ago

- EIA said 610 million lbs. of soybean oil used for biodiesel in December (58% of feedstock used to produce biodiesel) vs. 596 million lbs. in November and vs. 436 million lbs. a year ago