WHEAT

- Mar 13 - Jordan again seeks 100,000 MT of optional-origin milling wheat

- Mar 2 - Tunisia's state grains agency bought 67,000 MT of soft wheat, 11.5% for April shipment:

  • 25,000 MT of soft milling wheat from Casillo at 225.68 $/mt c&f;
  • 17,000 MT of soft milling wheat from Casillo at 228.57 $/mt c&f;
  • 25,000 MT of soft milling wheat from Dreyfus at 228.55 $/mt c&f

- Mar 2 - Argentina registered 200,000 MT of wheat for export

- Mar 1 - Japan bought 136,616 MT of food wheat for Apr-May shipments:

  • 19,694 MT of western white US wheat;
  • 14,344 MT of hard red winter US wheat;
  • 31,478 MT of dark northern spring US wheat;
  • 35,690 MT of Canadian western red spring wheat;
  • 35,410 MT of Australian standard white wheat

- Weekly US wheat export sales data for week ended Feb 22 totalled 236,300 MT, incl. 191,100 MT for 2017/18 (below trade expectations of 200-500 TMT). Export commitments for 2017/18 are running 13% behind of year-ago

- South Africa's wheat imports are expected to more than double to 2.1 MMT in 2018 from 935,000 MT last year

- Russia’s Ag Min said Russia exported about 34.581 MMT of grain between July 1-Feb 28, 2017/18, up by 40.9% from 24.551 MMT a year ago, including:

  • wheat – 27.052 MMT (18.977 MMT in 2016/17);
  • barley – 4.034 MMT (2.089 MMT);
  • corn – 3.256 MMT (3.308 MMT)

- Russia has 3,966,200 MT of grain in its federal intervention fund as of Mar 2 vs. 4,005,600 MT a year ago

- Rosstat raised its estimate of Russia’s 2017 grain harvest to a record 135.4 MMT from 134.1 MMT previously, up 12.2% from last year (120.7 MMT in 2016). Wheat production is estimated at 85.9 MMT (73.3 MMT in 2016)

- According to TAXUD, the EU this season in period of July 1-Feb 27, 2017/18 exported 13.244 MMT of soft wheat compared to 16.648 MMT a year ago

- FranceAgriMer said 83% of France’s soft wheat crops were in good to excellent condition as of Feb 25, down from 85% week prior and down vs. 93% a year ago; durum rating at 77% in good to excellent vs. 79% a week-ago and vs. 82% a year-ago

- FAO trimmed its forecast of global wheat production in 2017 to 757.0 MMT from 757.6 MMT projected in Jan, indicating a 0.4% (2.8 MMT) decline from the 2016 record level. The downturn is mainly reflecting downward revisions to Brazil and Russia more than offsetting increases to Argentina and Australia. Global wheat stocks (ending in 2018) upped by 2.9 MMT from last month to a record of 272.7 MMT, well above their opening levels (249.7 MMT)

VEGETABLE OILS

- Mar 2 - USDA announced export sales of 319,000 MT of US soybeans for delivery during 2017/18:

  • 198,000 MT to China;
  • 121,000 MT to unknown destinations

- Mar 2 - USDA announced export sales of 20,000 MT of US soybean oil for delivery to unknown destinations during 2017/18

- Mar 1 - USDA announced export sales of 246,000 MT of US soybeans:

  • 120,000 MT to China for delivery during 2017/18 (60 TMT) and 2018/19 (60 TMT);
  • 126,000 MT to unknown destinations for delivery during 2017/18 (63 TMT) and 2018/19 (63 TMT)

- Weekly US soybeans export sales data for week ended Feb 22 of 980,000 MT, incl. 857,900 MT for 2017/18 (topped market expectations of 400-700 TMT). Export commitments for 2017/18 are running 13% behind of year-ago

- USDA estimated US January soybean crush for crude oil at 5.236 million short tons, a 1% decrease from December, topped the average market expectation of 5.201 mln tons and above last year level (5.14 mln tons in Jan 2017). Crude soyoil stocks rose to 1.865 billion lbs as of Jan 31 from 1.584 in Nov, above the 1.731 bln lbs a year ago, while refined oil stocks were at 363.55 million lbs as of Jan 31 vs. 367.13 in Dec and 394.664 in Jan 2017. Jan US soy cake and meal stocks were at 356,194 tons vs. 506,203 in Dec and vs. 394,425 tons a year-ago

- Buenos Aires Grain Exchange lowered its forecast for Argentina's 2017/18 soybean crop by 3 MMT to 44 MMT, down 23.5% vs. 57.5 MMT in 2016/17

- Informa Economics cut its forecast of 2017/18 Argentina soybean production by 7 MMT to 44 MMT

- Informa Economics increased its forecast of 2017/18 Brazil soybean harvest by 1.5 MMT to 114 MMT

- AgRural raised its forecast of Brazil’s 2017/18 soybean crop to 117.9 MMT from 116.2 MMT last month. Brazil farmers harvested 35% of planted area with soybeans as of Mar 1 compared to 47% at this time a year ago

- Abiove upped its forecast of Brazil's 2018 soybean crop by 5.2 MMT to 114.7 MMT. Abiove also raised its forecast of 2018 soybean exports by 3 MMT to 68 MMT

- Brazil’s Trade Ministry reported February soybean exports at 2.864 MMT, up from 1.564 MT in January but below the 3.509 MMT a year ago. Also Brazil exported 1.355 MMT of soymeal in February versus 1.128 MMT the month before and 711,084 MT a year ago; and 125,641 MT of soyoil compared to 50,628 MT in January and 75,565 MT a year ago

- FAO’s soybean 2017/18 global production estimate trimmed to 345.2 MMT from 346.3 MMT in Jan (348.7 MMT in 2016), with higher forecasts for Brazil offsetting much of the downward corrections in Argentina and other producers in South America. Forecast of 2017/18 global soybean stocks revised upward to 47.3 MMT from 47 MMT in January and vs. 51.7 MMT in 2016/17

- India's rapeseed production in crop year 2017/18 is likely to fall by 3.7% from a year ago to 6.33 MMT

- India has raised import tax on crude palm oil to 44% from 30% and lifted the tax on refined palm oil to 54% from 40%

- Rosstat estimated Russia’s 2017 sunflower harvest at 10.5 MMT, down 4.8% from last year

- EU this season in period of Jul 1-Feb 27, 2017/18 imported 8.361 MMT of soybeans vs. 8.991 MMT a year ago

- EU this season in period of Jul 1-Feb 27, 2017/18 imported 190,980 MT of soybean oil vs. 190,292 MT a year ago

- EU this season in period of Jul 1-Feb 27, 2017/18 imported 2.619 MMT of rapeseed vs. 2.555 MMT a year ago

- EU this season in period of Jul 1-Feb 27, 2017/18 imported 114,019 MT of rapeseed oil vs. 114,591 MT a year ago

- EU this season in period of Jul 1-Feb 27, 2017/18 imported 365,207 MT of sunflowerseed vs. 661,186 MT a year ago

- EU this season in period of Jul 1-Feb 27, 2017/18 imported 1.115 MMT of sunflower oil vs. 916,727 MMT a year ago

- EU this season in period of Jul 1-Feb 27, 2017/18 imported 4.151 MMT of palm oil vs. 4.009 MMT a year ago