WHEAT

- Mar 8 - Japan would skip import of feed-quality wheat and barley in a simultaneous buy and sell (SBS) auction. The ministry received an offer for 550 MT of wheat, but it decided not to accept it as it did not meet its conditions. New SBS tender for 120,000 MT of feed wheat and 200,000 MT of feed barley will be held on March 15

- Mar 7 - Argentina grants export licenses for 61,204 MT of milling wheat

- Mar 8 - China failed to sell imported wheat from state reserves; at the auction was offered 95,413 MT of imported wheat

- Japan would sell imported wheat to domestic millers at an average price of 50,690 yen/mt (445 $/mt) in April-October, up 4.6% from the previous six-month period (48,470 yen/mt in October-March), reflecting a weaker yen, higher prices of high-grade wheat and shipping rates

- FranceAgriMer raised its forecast for French soft wheat stocks at the end of the 2016/17 to 2.963 MMT from 2.75 MMT projected last month (3.325 MMT in 2015/16). Projected exports outside the EU were upped to 5 MMT from February estimate of 4.9 MMT, but down 60.4% from 12.623 MMT in 2015/16, while forecast shipments within the EU were lowered to 5.735 MMT from 6.0 MMT last month, down 26.5% from 7.803 MMT in 2015/16

- USDA attaché expects India’s 2017/18 wheat production at 95.0 MMT compared to 87 MMT in 2016/17. Meanwhile they forecast that India’s 2017/18 wheat imports remain steady at 5 MMT (5 MT in 2016/17)

CORN

- Mar 7 - Argentina grants export licenses for 92,000 MT of corn

- FranceAgriMer lowered its estimate of France's 2016/17 corn crop to 11.457 MMT from 11.525 MMT in February (13.059 MMT last year) with the carryout projected at 1.945 MMT against 2.037 MMT in February and 2.481 MMT in 2015/16. France's 2016/17 corn export is forecasted at 5.0 MMT (5.035 MMT – previous forecast) vs. 6.337 MMT a year ago

- FranceAgriMer lifted France's 2016/17 barley crop to 10.306 MMT from 10.139 MMT in February (13.028 MMT last year) with the carryout lowered to 1.649 MMT from 1.916 MMT in Feb and against 1.278 MMT in 2015/16. France's 2016/17 barley exports (without malt) is expected at 4.68 MMT (4.585 MMT in February) down 39.1% from 7.684 MMT a year ago

SOYBEAN

- Mar 7 - Argentina grants export licenses for 10,140 MT of soybean oil

- Mar 8 - China sold 99,959 MT of rapeseed oil produced in 2013 from state reserves or 100% of the offered amount at auction at an average price of 6,271 RMB/mt (909 $/mt). Since Oct 12, 2016, the accumulated traded quantity was 2,078,687 MT

- China imported 5.54 MMT of soybeans in February, the highest ever for the month. Shipments were down from 7.66 MMT in January but up 23% from February 2016. China's soybean imports for January and February this year totalled 13.19 MMT, up 30% from last year's 10.17 MMT

- China's imports of all vegetable oils in February was 410,000 MT down 25.5% from 550,000 MT in January

- James Fry said that prices for crude palm oil (CPO) will drop nearly 20% by the final quarter of 2017 as global production recovers. In FOB terms, he forecast an average price of 605 $/mt in the third quarter and 550 $/mt in the fourth quarter. Fry pegged Malaysian output this year at 19.9 MMT, up from 17.3 MMT a year ago