Grain and Veg Oil Highlights March 03, 2017 March 3, 2017

WHEAT

- Mar 8 - Turkey's TMO seeks a total of about 130,000 MT of EU wheat in 13 separate tenders each for 10,000 MT. Offers must be made in Turkish lira on a c&f basis

- Mar 7 - Philippines are seeking 165,000 MT (3x55 TMT) of feed wheat for May, June and July arrival

- Mar 2 - Argentina grants export licenses for 50,725 MT of milling wheat

- FranceAgriMer said 93% of France’s soft wheat crops were in good to excellent condition as of Feb 27, unchanged from the prior week and vs. 94% a year ago; durum rating at 82% in good to excellent vs. 85% a week-ago and vs. 89% a year-ago

- Russia is considering exporting part (up to 500,000 MT) of its 4 MMT state grain stockpile to free up storage space before the new crop arrives

- Rosstat raised its estimate of Russia’s 2016 grain harvest to a record 120.67 MMT from 119.13 MMT previously, up 15.2% from last year (104.79 MMT in 2015) and 28.3% above the 5-year average. Wheat production is estimated at 73.295 MMT, up 18.6% from last year (61.786 MMT in 2015) and 36.2% above the 5-year average

CORN

- Mar 2 - Argentina grants export licenses for 200,025 MT of corn

- Mar 2 - Argentina grants export licenses for 61,000 MT of feed barley

- Buenos Aires Grain Exchange maintains its forecast for Argentina's 2016/17 corn crop at 37 MMT, up 23.3% vs. 30 MMT in 2015/16

- FranceAgriMer said 90% of France’s winter barley crops were in good to excellent condition as of Feb 27, compared with 90% a week earlier and vs. 93% a year ago

- FranceAgriMer estimated spring barley planting 32% done as of Feb 27, ahead of last year’s pace of 11%

- Indonesia has agreed to export 3 MMT of corn grains to Malaysia in the next three years

- Brazil’s Trade Ministry reported February corn exports at 487 TMT, down from 1.45 MMT in January and well below than 5.37 MMT in the year-ago month

- Rosstat raised its estimate of Russia’s 2016 corn harvest to a record 15.31 MMT from 13.8 MMT previously, up 16.2% from last year (13.173 MMT in 2015) and 49.2% above the 5-year average

- Rosstat estimated of Russia’s 2016 barley harvest at 17.993 MMT, up 2.5% from last year (17.546 MMT in 2015) and 5.2% above the 5-year average

SOYBEAN

- Mar 2 - Argentina grants export licenses for 459,700 MT of soybeans, 350,800 MT of soybean oil and 595,025 MT of soymeal

- Brazil’s Trade Ministry reported February soybean exports at 3.51 MT, up from 911,827 MT in January and above than 2.04 MMT a year ago

- Buenos Aires Grain Exchange kept its forecast of Argentina's 2016/17 soybean crop at 54.8 MMT, down 2.1% 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 34.2% completed as of Mar 2 vs. last year’s pace of 33.2%

- Rosstat raised its estimate of Russia’s 2016 sunflower harvest to a record 11.01 MMT from 10.7 MMT previously, up 18.6% from last year (9.28 MMT in 2015) and 23.5% above the 5-year average

- Rosstat estimated of Russia’s 2016 soybean harvest at a record 3.135 MMT, up 15.8% from last year (2.708 MMT in 2015) and 58.1% above the 5-year average

- Rosstat estimated of Russia’s 2016 rapeseed harvest at 999,000 MT, down 1.3% from last year (1.012 MMT in 2015) and 9.1% below the 5-year average