WHEAT

- Mar 19 - Iraq seeks at least 50,000 MT of hard wheat from the US, Canada or Australia

- Mar 15 - Japan seeks 119,610 MT of food wheat for Apr-May shipments:

  • 16,480 MT of western white US wheat;
  • 15,805 MT of hard red winter US wheat;
  • 59,730 MT of Canadian western red spring wheat;
  • 27,595 MT of Australian standard white wheat

- Mar 13 - The lowest offers in Ethiopian tender for 400,000 MT of optional origin wheat came at 250.15 $/mt c&f

- Mar 13 - Algeria’s OAIC bought 150,000 MT of optional-origin soft wheat at 225-226 $/mt c&f for June shipment

- Mar 13 - Taiwan Flour Millers' Association bought 92,465 MT of US milling wheat in two consignments:

  • The first consignment was bought from ADM and has an additional charge of 33.68 $/mt for ocean shipping from the US Pacific North West coast to Taiwan for shipment between April 28-May 12:
    • 26,000 MT of dark northern spring wheat (14.5% protein) at 302.24 $/mt fob,
    • 12,450 MT of hard red winter wheat (12.5% protein) at 264.82 $/mt fob,
    • 6,720 MT of soft white wheat (9% protein) at 226.45 $/mt fob.
  • The second consignment has an additional charge of 32.35 $/mt for ocean shipping from the US Pacific North West coast to Taiwan for shipment between May 15-29:
    • 27,850 MT of dark northern spring wheat (14.5% protein) from United Grain Corporation at 297.28 $/mt fob,
    • 12,850 MT of hard red winter wheat (12.5% protein) from Columbia Grain at 261.08 $/mt fob,
    • 6,595 MT of soft white wheat (9% protein) from United Grain Corporation at 220.73 $/mt fob

- Mar 13 - South Korea's Nonghyup Feed Inc. (NOFI) made no purchase in its tender for 69,000 MT of optional-origin feed wheat for July 20 arrival. The lowest offer was 240 $/mt c&f

- Mar 13 - Jordan has made no purchase in an international tender for 100,000 MT of optional-origin milling wheat

- Mar 12 - Argentina registered 60,000 MT of wheat for export

- Indonesian flour millers bought 80,000 MT of Black Sea wheat, 11.5% protein, in deals signed last week at 235 $/mt c&f for shipment in April

- South Korea's Feed Leaders Committee (FLC) has purchased in a private deal last week about 60,000 MT of feed wheat from Concordia/Cofco at 239.8 $/mt c&f including the surcharge for additional port unloading for May 30 arrival

- US wheat export inspections for week, ending Mar 8, recorded 389,358 MT, within trade expectations. Inspections for 2017/18 are running 7% behind of year-ago

- India is expected to import 1.5-2 MMT of wheat in 2018/19 (July-June)

- Ukraine's Ag Min said Ukraine exported 27.66 MMT of grain between July 1-Mar 12 2017/18 vs. 30.41 MMT for the same period last season, including:

  • wheat – 13.38 MMT (vs. 13.86 MMT a year ago),
  • corn – 10.14 MMT (11.68 MMT),
  • barley – 4.02 MMT (4.68 MMT)

- Mar 13 - China sold 98,633 MT of wheat from state reserves or 4.9% of the offered amount (2,025,580 MT) at auction at average price of 2,450 RMB/mt (387 $/mt)

- FranceAgriMer lowered its forecast for French soft wheat stocks at the end of the 2017/18 to 3.169 MMT from 3.251 MMT projected last month (2.944 MMT in 2016/17). Projected exports outside the EU were lowered from 9.0 to 8.5 MMT, but up 71% from 4.971 MMT in 2016/17, while forecast of shipments within the EU was upped from 8.452 to 8.532 MMT, up 36.3% from 6.259 MMT in 2016/17

CORN

- Mar 14 - Japan bought 660 MT of feed barley for Aug 31, 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 Mar 28

- Mar 13 - Turkey has made no purchase in an international tender for 149,000 MT of corn for Mar 19-Apr 8 shipment due to too high prices. The lowest offer was 847 Turkish lira, or around 219 $/mt c&f

- Mar 13 - South Korea's Nonghyup Feed Inc. (NOFI) bought 204,000 MT of optional-origin corn from CJ International in three consignments:

  • 68 TMT of corn at 227.49 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for July 15 arrival,
  • 68 TMT of corn at 227.39 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for July 25 arrival,
  • 68 TMT of corn at 227.49 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for Aug 10 arrival

- Mar 13 - South Korea's NOFI has purchased 4,000 MT of Chinese corn gluten feed from Mount at 179.90 $/mt c&f for April 25 arrival

- Mar 13 - South Korea's KOCOPIA bought 120,000 MT of optional-origin corn:

  • 60,000 MT from Posco-Daewoo at 232.94 $/mt c&f including a surcharge for additional port unloading for June 15 arrival,
  • 60,000 MT from CJ International at 231.25 $/mt c&f including a surcharge for additional port unloading for June 30 arrival

- Mar 13 - USDA announced export sales of 210,000 MT of optional-origin corn for delivery to South Korea during 2017/18

- Mar 12 - USDA announced export sales of 362,552 MT of US corn for delivery during 2017/18 to Japan (107,752 MT) and to unknown destinations (254,800 MT)

- Mar 13 - Argentina registered 150,000 MT of corn for export

- Mar 12 - Argentina registered 517,000 MT of corn for export

- South Korea's Major Feedmill Group (MFG) purchased around 137,000 MT of corn from the US or South America in two private non-tender deals last week

- US corn export inspections for week, ending Mar 8, reported 1,376,999 MT, topped market expectations (900-1200 TMT). Inspections for 2017/18 are running 29.7% behind of year-ago

- Dr. Michael Cordonnier lowered his forecast of Argentina’s 2017/18 corn crop this week by 1 MMT to 34 MMT

- China increased corn processing capacity by 30% to 137 MMT in 2017. China's corn stocks at the end of 2017 dropped 28% to 179 MMT from record highs

- FranceAgriMer lowered its forecast for French corn stocks at the end of the 2017/18 to 2.702 MMT from 2.783 MMT in Feb, up vs. 1.95 MMT in 2016/17. France's 2017/18 corn exports are forecasted at 5.318 MMT (5.268 MMT – previous forecast) vs. 4.691 MMT a year ago

- FranceAgriMer upped its forecast of France's 2017/18 barley ending stocks to 1.143 MMT from 1.05 MMT in Feb and against 1.072 MMT in 2016/17. France's 2017/18 barley exports (without malt) is expected at 6.568 MMT (6.695 MMT – previous forecast) up 24.4% from 5.281 MMT a year ago

SOYBEAN

- Apr 10 - Iran's GTC seeks 30,000 MT of soybean oil for May 15-June 15 shipment

- Mar 14 - Egypt's GASC seeks 10,000 MT optional-origin sunoil for May 15-30 and 30,000 MT soyoil for May 1-15 arrival

- South Korea's Major Feedmill Group (MFG) has purchased about 110,000 MT of South American soymeal last week:

  • 60 TMT from Concordia/Cofco at 471 $/mt c&f including surcharge for additional port unloading for June 15 arrival,
  • 50 TMT from Bunge at 464.90 $/mt c&f including surcharge for additional port unloading for July 15 arrival

- South Korea's Feed Leaders Committee (FLC) has purchased in a deal last week about 60,000 MT of South American soymeal from Concordia/Cofco at 465.8 $/mt c&f including the surcharge for additional port unloading for July 10 arrival

- US soybean export inspections for week, ending Mar 8, reported 910,237 MT, within trade estimates. Inspections for the 2017/18 marketing year are running 11.9% behind of year-ago

- Dr. Michael Cordonnier lowered his forecast of Argentina’s 2017/18 soybean crop this week by 2 MMT to 43 MMT

- China's 2017/18 soybean imports are expected to climb above 100 MMT (93.5 MMT in 2016/17)

- China’s exports of soybean meal will likely double to around 2 MMT in 2017/18, compared to 1.1 MMT last year, as drought is expected to limit Argentina’s shipments of soymeal and soybeans

- India's soybean imports have hit a record high this year as domestic supply tightens. Traders have signed deals to sell up to 100,000 MT of soybeans to India since December

- MPOB estimated Malaysian crude palm oil production in February at 1.343 MMT, below average expectation of 1.396 MMT and down 15.4% from 1.587 MMT in January. Malaysia's palm oil stocks at end-February fell 2.8% from the previous month to 2.478 MMT, above the average market expectation of 2.372 MMT. Malaysian February palm oil exports fell by 13.3% to 1.312 MMT, below the average expectation of 1.333 MMT

- Surveyor AmSpec Agri Malaysia estimated Malaysia's March 1-10 palm oil exports at 358,150 MT down 12.1% from a month ago

- Surveyor SGS estimated Malaysia's March 1-10 palm oil exports at 339,931 MT down 19.3% from a month ago

- GAPKI estimated Indonesia's January exports of palm oil and palm kernel oil at 2.74 MMT, up 4.6% from the previous month and up 0.7% compared to Jan 2017