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Grain and Veg Oil Highlights January 8, 2018 Jan. 8, 2018

WHEAT

- Jan 9 - Egypt’s GASC seeks an unspecified amount of wheat from global suppliers for Feb 11-20 shipment

- Jan 8 - Morocco’s ONICL bought 315,000 MT of US soft wheat for arrival by May 31 under an annual preferential-tariff quota

- Jan 8 - Argentina registered 130,000 MT of wheat for export

- Jan 4 - Algeria's OAIC bought about 555,000 MT of optional-origin milling wheat, likely from Argentina and France, more than the volume previously reported (390,000 MT), at 209.25-213.75 $/mt c&f for March shipment

- Dec 24 - Iraq purchased 100,000 MT of hard wheat: 50,000 MT of Australian wheat at 288.88 $/mt c&f and 50,000 MT of Canadian wheat at 295 $/mt c&f. The tender had closed on Dec 19 with offers remaining valid until Dec 24

- US wheat export inspections for week, ending Jan 4, recorded 234,418 MT, near the lower end of trade expectations (200-400 TMT). Inspections for 2017/18 are running 6.6% behind of year-ago

- IKAR raised its forecast of Russia's 2017/18 wheat exports by 1.1 MMT to 36.6 MMT and upped its estimate for 2017/18 total grain export from 46 MMT to 47.5 MMT

CORN

- Feb 13 - Iran's SLAL seeks 180,000 MT of barley from the EU, Russia or Ukraine

- Jan 8 - USDA announced export sales of 102,100 MT of US corn for delivery to Mexico during 2017/18

- Jan 8 - Argentina registered for export 101,627 MT of corn, 41,000 MT of sorghum and 46,000 MT of malting barley

- Jan 5 - South Korea's KOCOPIA bought 60,000 MT of optional-origin corn at 198.45 $/mt c&f

- US corn export inspections for week, ending Jan 4, reported 849,226 MT, topped market expectations (500-800 TMT). Inspections for 2017/18 are running 36.3% behind of year-ago

SOYBEAN

- Jan 8 - USDA announced export sales of 252,000 MT of US soybeans for delivery during 2017/18:

  • 120,000 MT to Egypt;
  • 132,000 MT to unknown destinations

- Jan 8 - Argentina registered 136,300 MT of soymeal for export

- US soybean export inspections for week, ending Jan 4, reported 1,183,089 MT, within trade estimates (1-1.3 MMT). Inspections for the 2017/18 marketing year are running 14.2% behind of year-ago

- Safras & Mercado estimated Brazilian farmers sold 29.8% of the expected 2017/18 soybean crop so far versus 34.4% last year and vs. 5-year average pace of 38.2%