WHEAT

- Jan 23 - Jordan seeks 100,000 MT of optional-origin milling wheat for Jul-Aug shipment

- Jan 11 - Japan bought 91,087 MT of food wheat for Feb-Mar shipments:

  • 16,710 MT of western white US wheat;
  • 24,525 MT of hard red winter US wheat;
  • 15,746 MT of dark northern spring US wheat;
  • 34,106 MT of Canadian western red spring wheat

- Jan 10 - Japan bought 1,510 MT of feed wheat for March 9, 2018, 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 Jan 17

- Jan 9 - Morocco’s ONICL bought 363,636 MT of EU soft wheat for arrival by May 31 under an annual preferential-tariff quota

- Jan 5 - Taiwan Flour Millers' Association bought 73,635 MT of US milling wheat from ADM in two consignments:

  • The first consignment has an additional charge of 37.6 $/mt for ocean shipping from the US Pacific North West coast to Taiwan for shipment between Feb 19-Mar 5:
    • 18,575 MT of dark northern spring wheat (14.5% protein) at 284.64 $/mt fob;
    • 12,375 MT of hard red winter wheat (12.5% protein) at 238.95 $/mt fob;
    • 6,005 MT of soft white wheat (9% protein) at 196.84 $/mt fob.
  • The second consignment has an additional charge of 37.92 $/mt for ocean shipping from the US Pacific North West coast to Taiwan for shipment between Mar 8-22:
    • 19,200 MT of dark northern spring wheat (14.5% protein) at 284.64 $/mt fob;
    • 11,900 MT of hard red winter wheat (12.5% protein) at 240.83 $/mt fob;
    • 5,580 MT of soft white wheat (9% protein) at 199.43 $/mt fob

- Jan 12 - Argentina registered 102,523 MT of wheat for export

- Jan 11 - Argentina registered 330,056 MT of wheat for export

- Russia’s Ag Min said Russia exported about 27.994 MMT of grain between July 1-Jan 10, 2017/18, up by 34.9% from 20.756 MMT a year ago, including:

  • wheat – 21.841 MMT (16.285 MMT in 2016/17);
  • barley – 3.594 MMT (1.874 MMT);
  • corn – 2.41 MMT (2.459 MMT)

- Russia has 3,966,700 MT of grain in its federal intervention fund as of Jan 12 vs. 4,038,800 MT a year-ago

- Ukraine's Ag Min said Ukraine exported 21.3 MMT of grain between July 1-Jan 9 2017/18 vs. 23.6 MMT for the same period last season, including:

  • wheat – 11.4 MMT (vs. 11.8 MMT a year ago);
  • corn – 6 MMT (7.4 MMT);
  • barley – 3.8 MMT (4.3 MMT)

- Weekly US wheat export sales data for week ended Jan 4 totalled 71,500 MT for 2017/18 (below trade expectations of 250-450 TMT). Export commitments for 2017/18 are running 9% behind of year-ago

- EU has awarded all of the 1,035,000 MT of Ukrainian wheat imports available in 2018 under a tariff-free quota after offers exceeded the total volume in a first bidding round last week (Jan 1-5)

- According to TAXUD, the EU this season in period of July 1-Jan 9, 2017/18 exported 10.946 MMT of soft wheat compared to 13.619 MMT a year ago

- USDA estimated 2018 US winter wheat plantings at 32.608 million acres, the smallest since 1909 but above analysts' expectations for 30.1-32 million

- USDA raised 2017/18 global wheat production forecast by 1.8 MMT to 757 MMT based on a larger crop for Russia. Global trade is forecast down slightly from last month but remains a record. Imports are forecast higher for China but lower for Algeria, India and Saudi Arabia. Higher exports for Argentina and Russia are offset by lower forecasts for Australia and the EU

- USDA lowered global wheat carryover for 2017/18 to still a record 268.02 MMT, down by 0.4 MMT from Dec estimate and slightly below the average of trade estimates (268.26 MMT– avg. pre-report expectation, 265-271 – range)

- Conab lowered its Brazil's 2017 wheat crop estimate to 4.264 MMT from 4.299 MMT in December, down vs. 6.727 MMT in 2016. They kept its estimate for wheat imports this year at 7.2 MMT vs. 7.089 MMT in 2016

- FranceAgriMer kept its estimate of French soft wheat production in 2017/18 at 37.01 MMT, up from 27.56 MMT in 2016/17. FranceAgriMer lowered its forecast for French soft wheat stocks at the end of the 2017/18 to 2.879 MMT from 3.244 MMT projected last month (2.944 MMT in 2016/17). Projected exports outside the EU were lowered from 9.5 to 9.3 MMT, but up 87.1% from 4.971 MMT in 2016/17, while forecast of shipments within the EU was upped from 8.077 to 8.607 MMT, up 37.5% from 6.259 MMT in 2016/17

- Buenos Aires Grain Exchange forecasts Argentine 2017/18 wheat crop at 17 MMT, up 1.2% from 2016/17 crop (16.8 MMT). Harvesting of Argentine wheat crop was 98.5% completed as of Jan 10, behind of last year’s pace of 94.9%

CORN

- Jan 24 - Jordan seeks 100,000 MT of optional-origin feed barley for Jul-Aug shipment

- Jan 23 - Iran's SLAL seeks 180,000 MT of corn

- Jan 12 - Saudi Arabia's SAGO (Saudi Grains Organisation) bought 1,002,000 MT of feed barley of Australia, North and South America, EU and Black Sea origin at an average price of 216.73 $/mt c&f in 16 consignments for Feb-Mar 2018 shipment to the Red Sea ports (624 TMT) and the Gulf ports (378 TMT):

  • Red Sea Ports:
    • 60,000 MT of feed barley from Grain Corp at 217.83 $/mt c&f (Feb 15-28);
    • 60,000 MT of feed barley from Grain Corp at 216.83 $/mt c&f (Mar 1-15);
    • 63,000 MT of feed barley from Holbud at 217.72 $/mt c&f (Feb 15-28);
    • 63,000 MT of feed barley from Holbud at 218.62 $/mt c&f (Feb 15-28);
    • 63,000 MT of feed barley from Holbud at 214.88 $/mt c&f (Mar 1-15);
    • 63,000 MT of feed barley from Holbud at 215.72 $/mt c&f (Mar 1-15);
    • 63,000 MT of feed barley from Holbud at 216.64 $/mt c&f (Mar 1-15);
    • 63,000 MT of feed barley from Holbud at 212.42 $/mt c&f (Mar 15-30);
    • 63,000 MT of feed barley from Holbud at 213.61 $/mt c&f (Mar 15-30);
    • 63,000 MT of feed barley from Holbud at 214.58 $/mt c&f (Mar 15-30)
  • Arabian Gulf Ports:
    • 63,000 MT of feed barley from Holbud at 219.72 $/mt c&f (Feb 15-28);
    • 63,000 MT of feed barley from Holbud at 220.61 $/mt c&f (Feb 15-28);
    • 63,000 MT of feed barley from Holbud at 216.68 $/mt c&f (Mar 1-15);
    • 63,000 MT of feed barley from Holbud at 217.52 $/mt c&f (Mar 1-15);
    • 63,000 MT of feed barley from Holbud at 216.47 $/mt c&f (Mar 15-30);
    • 63,000 MT of feed barley from Holbud at 217.81 $/mt c&f (Mar 15-30)

- Jan 12 - South Korea’s Major Feedmill Group (MFG) bought 70,000 MT of US corn from Itochu at 193.08 $/mt c&f plus a 1.00 $/mt surcharge for additional port unloading for April 25 arrival

- Jan 12 - USDA announced export sales of 320,000 MT of US corn for delivery to unknown destinations during 2017/18

- Iranian private buyers have picked up over 500,000 MT of Brazilian corn in December, with at least 150,000 MT currently loading at Brazil's terminals for Iran

- Jan 12 - Argentina registered 76,485 MT of corn for export

- Jan 11 - Argentina registered for export 102,095 MT of corn and 49,000 MT of feed barley

- South African white maize futures prices hit 11-month highs as a spell of hot, dry weather raised concerns about plantings and yields

- Weekly US corn export sales data for week ended Jan 4 of 437,700 MT for 2017/18 (within trade expectations of 350-650 TMT). Export commitments for 2017/18 are running 25% behind of year-ago

- EU has awarded all of the 1,125,000 MT of Ukrainian maize imports available in 2018 under a tariff-free quota after offers exceeded the total volume in a first bidding round last week (Jan 1-5). The bloc also awarded the entire volume of 138,994 tonnes of any-origin maize imports available for first half of 2018 under a separate duty-free quota

- EU in week ended Jan 5 awarded licenses to import 15,682 MT of Ukrainian barley under an annual duty-free quota of 615,000 MT available in 2018

- EU this season in period of Jul 1-Jan 9, 2017/18 imported 7.912 MMT of corn (maize) vs. 5.44 MMT a year ago

- EU this season in period of Jul 1-Jan 9, 2017/18 exported 535,429 MT of corn vs. 1.367 MMT a year ago

- EU this season in period of Jul 1-Jan 9, 2017/18 exported 2.666 MMT of barley vs. 2.382 MMT a year ago

- EU this season in period of Jul 1-Jan 9, 2017/18 exported 1.474 MMT of malt in barley equivalent vs. 1.53 MMT a year ago

- USDA raised its forecast of US 2017/18 corn crop to 14.604 billion bushels (14.578 in Dec), above the average of analysts' forecasts of 14.579. USDA surprisingly raised its estimate of the average US 2017 corn yield to a record 176.6 bpa from its Dec estimate of 175.4 bpa, at the highest end of trade estimates (173.7-177 bpa)

- USDA lowered its forecast of global corn production in 2017/18 by 0.2 MMT to 1,044.6 MMT this month with reductions for Russia, the Philippines, and Vietnam more than offsetting gains for the US and Pakistan. Global corn trade is fractionally lower driven by reduced imports for Iran and exports for Brazil

- USDA upped its forecast of 2017/18 world corn ending stocks by 2.5 MMT to 206.57 MMT, near the upper end of analysts' forecasts of 198.5-207 MMT, but down from 228.75 MMT in 2016/17

- Conab lifted its forecast of Brazil's 2017/18 corn crop to 92.348 MMT from 92.223 MMT in December, less than 97.843 MMT last season with second crop at 67.171 MMT (67.381 MMT in 2016/17). Conab expects Brazil to export 30 MMT of corn (30.5 MMT in 2016/17). Ending stocks are forecasted to rise to 23.175 MMT from 18.927 MT in 2016/17

- Argentina's Rosario grains exchange lowered its estimate of the country's 2017/18 corn harvest to 39.9 MMT from 41.5 MMT

- Buenos Aires Grain Exchange expects Argentina’s 2017/18 corn acreage at 5.4 mln ha (5.1 mln ha in 2016/17). Exchange estimates 85.8% of the crop has been planted as of Jan 10, behind of last year’s pace (90,7%)

- Buenos Aires Grain Exchange expects Argentine 2017/18 sorghum acreage at 830,000 ha, a 3.8% increase from last year (800,000 ha in 2016/17). Exchange estimates 77.5% of the crop has been planted as of Jan 10 vs. last year’s pace of 83.5%

- China’s Ag Min raised its 2017/18 corn import forecast by 0.2 to 1.2 MMT (2.46 MMT in 2016/17)

- FranceAgriMer lowered its forecast for French corn stocks at the end of the 2017/18 to 2.513 MMT from 2.623 MMT in Dec, up vs. 1.95 MMT in 2016/17. France's 2017/18 corn exports are forecasted at 5.318 MMT (5.213 MMT – previous forecast) vs. 4.691 MMT a year ago

- FranceAgriMer cut its forecast of France's 2017/18 barley ending stocks to 925,000 MT from 1.105 MMT in Dec and against 1.072 MMT in 2016/17. France's 2017/18 barley exports (without malt) is expected at 6.825 MMT (6.74 MMT – previous forecast) up 29.2% from 5.281 MMT a year ago

- US Ethanol production for the week ended Jan 5 fell by 36,000 barrels to 996,000 barrels per day, down 5.1% from last year's level of 1,049,000 bpd. Stocks climbed by 100,000 barrels from the week prior to 22.719 million barrels, up 13.5% vs. 20.009 million barrels a year ago

SOYBEAN

- Jan 15 - Egypt's GASC seeks 10,000 MT optional-origin sunoil and 30,000 MT soyoil for Mar 1-15 delivery. Traders said the following offers were made in the tender:

  • ADM: 30,000 MT of soyoil at 833 $/mt c&f and/or 10,000 MT of sunflower oil at 796 $/mt c&f;
  • Aston: 11,500 MT of sunflower oil at 793 $/mt c&f;
  • Alex Co for seeds: 12,000 MT of soyoil at 14,250 EGP/mt (805 $/mt);
  • Watanya/Cargill: 10,000 MT of soyoil at 14,715 EGP/mt (831 $/mt);
  • Glencore: 30,000 MT of soyoil at 851 $/mt c&f and/or 10,000 MT of sunflower oil at 818 $/mt c&f

- Jan 12 - China sold 52,984 MT of rapeseed oil from state reserves or almost 100% of the offered amount (52,996 MT) at auction at an average price of 6,203 RMB/mt (959 $/mt)

- Jan 11 - USDA announced export sales of 132,000 MT of US soybeans for delivery to unknown destinations during 2017/18

- Jan 10 - USDA announced export sales of 260,000 MT of US soybeans for delivery to unknown destinations during 2017/18 (65 TMT) and 2018/19 (195 TMT)

- Weekly US soybeans export sales data for week ended Jan 4 of 616,400 MT, incl. 607,400 MT for 2017/18 (within the expectations of 500-850 TMT). Export commitments for 2017/18 are running 14% behind of year-ago

- Conab upped its forecast of Brazil's 2017/18 soy output to 110.438 MMT from 109.183 MMT compared to a record previous crop of 114.075 MMT. Conab expects Brazil to export 65 MMT of soybeans (68.155 MMT in 2016/17). Ending stocks are forecasted to fall to 472,900 MT from 1.916 MMT in 2016/17

- Agroconsult raised its forecast of Brazil's 2017/18 soybean crop to 114.1 MMT

- Buenos Aires Grain Exchange expects Argentina’s 2017/18 soybean acreage at 18 mln ha, down 6.3% from the previous crop year. About 94.3% of the crop has been planted as of Jan 10 vs. 96.4% this time last year

- Buenos Aires Grain Exchange forecasts Argentine 2017/18 sunflower crop at 3.6 MMT. Harvesting of Argentine sunflower crop was 18.6% completed as of Jan 10 vs. last year’s pace of 11.9%

- Argentina's Rosario grains exchange cut its forecast of the country's 2017/18 soybean harvest to 52 MMT from 54.5 MMT

- China's Ag Min lowered its 2017/18 soybean output estimate to 14.6 MMT from 14.89 MMT in December, up 13% from last year crop (12.94 MMT in 2016/17)

- China imported 9.55 MMT of soybeans in December, up 6% from Dec 2016 and up 10% from Nov 2017. China's imports for all of 2017 hit an annual record of 95.54 MMT, up 13.9% from last year's 83.91 MMT

- China's imports of all vegetable oils in December was 610,000 MT, up 13% from 540,000 MT in November but down 19.7% vs. 760,000 MT year ago

- USDA trimmed its US 2017/18 soybean harvest outlook from 4.425 billion bushels to 4.392 billion, below the average of analysts' estimates (4.427 billion bu). USDA cut its US soy yield estimate from 49.5 bushels per acre to 49.1 bpa and below an average of analyst expectations for 49.5 bpa

- USDA raised its forecast of 2017/18 global soybean production by 0.1 MMT to 348.6 MMT, down 0.8% (or 2.7 MMT) from last year's record level

- USDA upped its forecast of 2017/18 world soybean ending stocks by 0.2 MMT to 98.57 MMT, within the range of analysts' forecasts of 97-100.5 MMT and up from 96.49 MMT in 2016/17

- MPOB estimated Malaysian crude palm oil production in December at 1.834 MMT, above average expectation of 1.82 MMT but down 5.6% from 1.943 MMT in November with end-stocks at the highest level since November 2015 of 2.732 MMT, up 7% on month and above the average market expectation of 2.69 MMT. Malaysian December palm oil exports rose by 4.9% to 1.423 MMT, below the average expectation of 1.46 MMT

- Surveyor Intertek Testing Services estimated Malaysia's January 1-10 palm oil exports at 359,346 MT down 1.4% from a month ago

- Surveyor Intertek Testing Services estimated Malaysia's January 1-15 palm oil exports at 552,635 MT down 7.4% from a month ago

- Surveyor SGS estimated Malaysia's January 1-10 palm oil exports at 380,837 MT up 12.2% from a month ago

- Surveyor SGS estimated Malaysia's January 1-15 palm oil exports at 564,968 MT down 2.8% from a month ago

- India imported 1.089 MMT of veg oils (edible & non-edible) in Dec vs. 1.249 MMT in Nov, down 10% from 1.21 MMT a year ago

- India imported 2.284 MMT of edible veg oils in Nov-Dec 2017/18, down 2% from the 2016/17 (2.33 MMT)

- India imported 608,405 MT of crude palm oil in December vs. 559,584 MT in November and vs. 473,179 MT a year ago. India's Nov-Dec 2017/18 crude palm oil imports at 1.168 MMT vs. 1.031 MMT a year ago

- India imported 106,924 MT of RBD palmolein in December vs. 147,362 MT in November and vs. 245,554 MT a year ago. India's Nov-Dec 2017/18 RBD palmolein imports at 254,286 MT vs. 486,502 MT a year ago

- India imported 79,250 MT of soybean oil in December vs. 273,928 MT in November and vs. 232,132 MT a year ago. India's Nov-Dec 2017/18 soybean oil imports at 353,178 MT vs. 396,418 MT a year ago

- India imported 236,655 MT of sunflower oil in December vs. 193,810 MT in November and vs. 185,824 MT a year ago. India's Nov-Dec 2017/18 sunflower oil imports at 430,465 MT vs. 343,895 MT a year ago

- India imported 19,527 MT of rapeseed oil in December vs. 40,609 MT in November and vs. 33,182 MT a year ago. India's Nov-Dec 2017/18 rapeseed oil imports at 60,136 MT vs. 65,377 MT a year ago

- India's stock of edible oils at various ports and in pipelines as of Jan 1, 2018 fell to 2.176 MMT from 2.267 MMT a month ago, but above the last year's 1.845 MMT. India's monthly requirement is about 1.8 MMT

- EU this season in period of Jul 1-Jan 9, 2017/18 imported 6.309 MMT of soybeans vs. 7.08 MMT a year ago

- EU this season in period of Jul 1-Jan 9, 2017/18 imported 10.238 MMT of soymeal vs. 9.608 MMT a year ago

- EU this season in period of Jul 1-Jan 9, 2017/18 imported 152,741 MT of soybean oil vs. 156,650 MT a year ago

- EU this season in period of Jul 1-Jan 9, 2017/18 imported 2.148 MMT of rapeseed vs. 1.614 MMT a year ago

- EU this season in period of Jul 1-Jan 9, 2017/18 imported 103,009 MT of rapeseed meal vs. 136,345 MT a year ago

- EU this season in period of Jul 1-Jan 9, 2017/18 imported 100,555 MT of rapeseed oil vs. 106,880 MT a year ago

- EU this season in period of Jul 1-Jan 9, 2017/18 imported 278,866 MT of sunflowerseed vs. 571,087 MT a year ago

- EU this season in period of Jul 1-Jan 9, 2017/18 imported 1.811 MMT of sunflower meal vs. 1.573 MMT a year ago

- EU this season in period of Jul 1-Jan 9, 2017/18 imported 918,730 MT of sunflower oil vs. 642,703 MMT a year ago

- EU this season in period of Jul 1-Jan 9, 2017/18 imported 3.261 MMT of palm oil vs. 3.119 MMT a year ago