WHEAT

- Mar 31 - South Korea's Major Feedmill Group (MFG) bought total of 125,000 MT of feed wheat, likely from EU:

  • 60,000 MT at 189.25 $/mt c&f plus 1.0 $/mt surcharge for additional port unloading for July 15-August 5 shipment
  • 65,000 MT at 187.9 $/mt c&f plus 1.5 $/mt surcharge for additional port unloading for August shipment

- Mar 31 - Argentina registered 53,360 MT of wheat for export

- Russia’s Ag Min said Russia exported about 28.016 MMT of grain between July 1-Mar 29, 2016/17, down by 0.2% from 28.083 MMT a year ago, including:

  • wheat – 21.687 MMT (20.581 MMT a year ago);
  • barley – 2.238 MMT (3.88 MMT);
  • corn – 3.893 MMT (3.379 MMT);
  • others – 198 TMT (243 TMT)

- Russia has 4,003,500 MT of grain in its federal intervention fund as of March 30 vs. 3,149,900 MT a year-ago

- Russian Ag Min estimated spring planting 1.6% (or 861,900 ha) done as of Mar 31 vs. 897,100 ha a year ago. Of the total Russian farmers planted 630,700 ha of spring grain or 2% of planned area (639,700 ha a year ago)

- European Commission (EC) trimmed its estimate for 2017 EU soft wheat crop to 142.246 MMT from 142.99 MMT last month, but up from 134.429 MMT last year. EU's executive left its EU soft wheat exports forecast at 28.91 MMT in 2017/18, above the 24 MMT in 2016/17. Soft wheat inventories in the region are forecasted at 12.392 MMT (10.191 MMT– previous estimate) by the end of June 2018, more than 11.766 MMT estimated for 2016/17

- USDA estimates US all-wheat plantings this year at the lowest on record of 46.059 million acres (18.64 million ha), down 8.2% from last year and below the average of analysts’ forecasts of 46.139 million acres (44.2-48.2 – range)

- USDA pegged US March 1 wheat stocks at 1.655 billion bushels, the biggest since 1988 and above the average analyst estimate of 1.627 billion (1.450-1.721 – range)

CORN

- Mar 31 - Argentina registered 151,026 MT of corn for export

- Informa Economics raised its forecast for Argentina's 2016/17 corn crop to 38.2 MMT from 35.2 MMT last month

- Informa Economics raised its Brazil's 2016/17 corn crop forecast by 4 MMT to 95.0 MMT

- USDA report showed US farmers are planning to cut corn seeding by 4.3% this year to 89.996 million acres (36.42 million hectares), which would be below the market expectations (90.969 – avg., 90-92.5 mln bu – range)

- USDA pegged US March 1 corn stocks at a record 8.616 billion bushels, above the average analysts’ estimate of 8.534 billion (8.205-8.9 – range)

- Ukraine’s Ag Min estimated early spring grain planting 51% done as of Mar 31. Ukrainian farmers planted 1.2 million ha of spring crops, thereof 819,000 ha of barley (or 47% of planned area), 241,000 ha of peas (or 87%), 80,000 ha of oats (or 39%) and 76,000 ha of wheat (or 40%)

- EC marginally increased its 2017 EU corn harvest forecast to 66.619 MMT from 66.611 MMT last month (60.453 MMT in 2016). Projected imports in new season were lowered from prior month by 134,000 MT to 12.297 MMT (12.6 MMT in 2016/17). EC raised its estimate for 2016/17 corn ending stocks to 12.191 from 10.157 MMT previously and upped expected stocks at the end of 2017/18 to 14.291 MMT from 13.703 MMT in February

- EC lowered its 2017 EU barley harvest outlook to 62.138 MMT from 62.742 MMT last month, but up from 59.618 MMT in 2016. Projected exports in new season were lowered from prior month by 1.5 MMT to 8 MMT, but above the 7.494 MMT in 2016/17. EC decreased its forecast for 2017/18 barley ending stocks to 6.612 MMT from 8.467 MMT previously, but up vs. 5.862 MMT in 2016/17

- EIA estimated US ethanol production for January at 32.241 million barrels versus 32.467 million barrels in December and vs. 30.319 million barrels a year ago

- EIA reported January ethanol inventory at 22.633 million barrels, which is up 15.9% from December but 2.3% less from last year

SOYBEAN

- Mar 31 - Argentina registered for export 99,950 MT of soymeal, 26,000 MT of soybean oil and 16,677 MT of sunflower meal

- USDA raised its soybean plantings estimate by 7.3% from last year to 89.482 million acres (36.21 million ha), which would be the highest ever and above the trade forecasts (88.214 – avg., 86.4-89.3 mln acres – range)

- USDA pegged US March 1 soybean stocks at 1.735 billion bushels, up 13.3% from a year ago and above trade expectations for 1.684 billion (1.627-1.885 – range)

- Informa Economics increased its estimate of Argentina's 2016/17 soybean production to 57.5 MMT from 55 MMT previously

- Informa Economics raised its forecast of Brazil's 2016/17 soybean harvest to 111 MMT, up from its previous estimate of 108 MMT

- AgRural estimates 74% of Brazilian soybean crop has been harvested as of Mar 30 (68% a week ago) vs. 76% a year ago and the 5-year average of 70%

- EIA said US January biodiesel production at 93 million gallons vs. 144 million gallons in December and vs. 105 million gallons a year ago

- EIA said 390 million lbs. of soybean oil used for biodiesel in January (55% of feedstock used to produce biodiesel) vs. 610 million lbs. in December and vs. 392 million lbs. a year ago

- EC increased its 2017 EU rapeseed harvest forecast to 22.551 MMT from 22.128 MMT in February, up 12.5% from 20.04 MMT in 2016

- EC kept its 2017 EU soybean harvest view at 2.467 MMT, down 1% from 2.491 MMT in 2016

- EC kept its 2017 EU sunflower crop forecast at 9.078 MMT, up 6.8% from 8.502 MMT in 2016

- Strategie Grains raised its 2017 EU rapeseed crop forecast to 21.73 MMT from 21.58 MMT previously and up 6.7% from the 2016 harvest (20.36 MMT)

- Strategie Grains trimmed its 2017 EU sunflower crop forecast to 8.61 MMT, down 20,000 MT from previous and 4.2% above the 2016 harvest (8.26 MMT)

- Strategie Grains increased its 2017 EU soybean crop forecast to 2.58 MMT from 2.51 MMT previously and up 6.2% from the 2016 harvest (2.43 MMT)