WHEAT

- Mar 23 - Tunisia's state grains agency bought 50,000 MT of optional-origin durum wheat for Sept 15-Nov 5 shipment and 50,000 MT of soft wheat, 11.5%, for April 25-May 25 shipment:

  • 50,000 MT (2x25 TMT) of soft milling wheat from Ameropa at 226.99 $/mt c&f;
  • 25,000 MT of durum wheat from Glencore at 288.29 $/mt c&f;
  • 25,000 MT of durum wheat from Casillo at 289.68 $/mt c&f

- Mar 22 - Japan bought 127,338 MT of food wheat for Apr-May shipments:

  • 19,950 MT of western white US wheat;
  • 47,825 MT of hard red winter US wheat;
  • 24,167 MT of dark northern spring US wheat;
  • 35,396 MT of Canadian western red spring wheat

- Mar 22 - Algeria's OAIC bought around 150,000-175,000 MT of optional-origin durum wheat at around 295-296 $/mt c&f for May shipment

- Mar 22 - South Korea's Major Feedmill Group (MFG) purchased an unknown volume of feed wheat, probably from Black Sea region, in a private, non-tender deal at 232.44 $/mt c&f for shipment between June 10-July 10 and arrival in South Korea in August

- UN recently bought 60,000 MT of Romanian wheat for donation to east Africa and Yemen for shipment in April and May

- Oman recently bought 30,000-60,000 MT of Russian wheat, 12.5% protein, at about 240-245 USD/т C&F for April shipment

- Mar 23 - Argentina registered 104,000 MT of wheat for export

- Mar 21 - Argentina registered 56,000 MT of wheat for export

- Weekly US wheat export sales data for week ended Mar 15 totalled 428,600 MT, incl. 265,200 MT for 2017/18 (within trade expectations of 100-300 TMT). Export commitments for 2017/18 are running 13% behind of year-ago

- EU in week ended Mar 16 awarded licenses to import 32,721 MT of reduced-tariff wheat imports of various origins under quotas

- According to TAXUD, the EU this season in period of July 1-Mar 20, 2017/18 exported 14.078 MMT of soft wheat compared to 18.165 MMT a year ago

- FranceAgriMer said 79% of France’s soft wheat crops were in good to excellent condition as of Mar 18, down from 80% week prior and down vs. 91% a year ago

- Egypt intends to buy more than four million tonnes of locally-produced wheat this year (3.6 MMT last year)

- Russia’s Ag Min said Russia exported about 37.674 MMT of grain between July 1-Mar 21, 2017/18, up by 40.2% from 26.878 MMT a year ago, including:

  • wheat – 29.421 MMT (20.638 MMT in 2016/17);
  • barley – 4.299 MMT (2.217 MMT);
  • corn – 3.7 MMT (3.831 MMT)

- Russia has 3,963,600 MT of grain in its federal intervention fund as of Mar 23 vs. 4,005,600 MT a year ago

- Russian grain stocks were at 38.318 MMT as of Mar 1, 2018, up 18.5% from a year earlier (32.339 MMT as of Mar 1, 2017). The data does not include grain stored at small farms

- Ukraine's Ag Min said that 99.7% winter crops were emerged as of Mar 23; about 87% of emerged crops are in good and satisfactory condition, unchanged from prior week

- International Grains Council (IGC) expects 2018/19 world wheat production to fall to 740.8 MMT from a record 757.7 MMT in 2017/18. It projects carryover stocks at 253 MMT in 2018/19, down 3.4 MMT from the year prior

- India has dropped a plan to double a wheat import tax to 40%, because of expectations of a smaller crop than projected earlier. India may revise wheat crop production estimate for 2018 downward to 91-92 MMT, may importing 2-4 MMT of wheat

- Argentina's Ag Min kept its estimate of 2017/18 wheat production at 18.5 MMT, up 0.6% from 18.39 MMT in 2016/17. Forecast of wheat exports in current season 2017/18 (Dec17-Nov18) was raised to 11.8 MMT from 11.7 MMT in prior-month projection (12.81 MMT in 2016/17)

CORN

- Mar 23 - Saudi Arabia’s SAGO seeks 1,020,000 MT of feed barley in 17 consignments for May 15-June 30 shipment

- Mar 23 - Tunisia's state grains agency bought 25,000 MT of feed barley from Soufflet at 246.24 $/mt c&f for April 25-May 15 shipment

- Mar 22 - South Korea's Nonghyup Feed Inc. (NOFI) bought 68,000 MT of optional-origin corn from Posco-Daewoo at 216.72 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for Aug 20 arrival

- Mar 20 - Three South Korean buyers purchased a total of about 197,000 MT of the US or South American corn in private, non-tender deals:

Major Feedmill Group (MFG) purchased 138,000 MT from Cargill in two equal consignments at 215.87 $/mt c&f and 215.97 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for Aug 8 and Aug 17 arrival.

Feed Leaders' Committee (FLC) purchased 68,000 MT from Dreyfus at 216.5 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for Aug 15 arrival.

Korea Feed Association (KFA) bought 60,000 MT from CHS at 218.54 $/mt c&f+ 1.25 $/mt surcharge for additional port unloading

- Mar 21 - Jordan has made no purchase in an international tender for 100,000 MT of optional-origin feed barley

- Mar 23 - Argentina registered 294,000 MT of corn for export

- Mar 22 - Argentina registered for export 65,000 MT of corn, 60,500 MT of feed barley and 30,000 MT of sorghum

- Mar 21 - Argentina registered 80,000 MT of corn for export

- Mar 21 - USDA announced export sales of 138,000 MT of US corn for delivery to South Korea during 2017/18

- Mar 20 - USDA announced export sales of 110,000 MT of US corn for delivery to Peru during 2017/18

- Weekly US corn export sales data for week ended Mar 15 of 1,455,700 MT, incl. 1,470,200 MT for 2017/18 (within trade expectations of 1.4-2.1 MMT). Export commitments for 2017/18 are running 3% behind of year-ago

- Informa Economics lowered its forecast of US 2018 corn plantings to 88.9 million acres, from 89.179 million previously

- Buenos Aires Grain Exchange lowered its forecast for Argentina's 2017/18 corn crop by 2 MMT to 32 MMT, down 17.9% vs. 39 MMT in 2016/17

- Argentina's Ag Min lowered its 2017/18 corn acreage estimate to 8.9 million ha from 8.99 mln ha in Feb, up 5% from 8.48 mln ha in 2016/17. Forecast of corn exports in 2016/17 (Mar 2017-Feb 2018) was lowered from 26 to 25.65 MMT vs. 21.64 MMT in previous season

- China’s corn imports in February fell to 100,000 MT, down from 390,000 MT the prior month, and down 29.9% from 142,556 MT in the same month last year

- EU this season in period of Jul 1-Mar 20, 2017/18 imported 12.334 MMT of corn (maize) vs. 8.111 MMT a year ago

- EU this season in period of Jul 1-Mar 20, 2017/18 exported 864,318 MT of corn vs. 1.885 MMT a year ago

- EU this season in period of Jul 1-Mar 20, 2017/18 exported 4.043 MMT of barley vs. 3.802 MMT a year ago

- EU this season in period of Jul 1-Mar 20, 2017/18 exported 2.062 MMT of malt in barley equivalent vs. 2.127 MMT a year ago

- FranceAgriMer said 76% of France’s winter barley crops were in good to excellent condition as of Mar 18, compared with 78% a week earlier and vs. 85% a year ago

- FranceAgriMer estimated spring barley planting 38% done as of Mar 18 (35% a week-ago), behind of last year’s pace of 77%

- IGC projected world corn production would rise to 1052.2 MMT in 2018/19, up from 1044.8 million current season. It projected corn carryover next season at 265.4 MMT, down 42.2 MMT from the year prior

SOYBEAN

- Mar 22 - South Korea's NOFI has purchased about 60,000 MT of South American soymeal from Bunge at 449.49 $/mt c&f including the surcharge for additional port unloading for Sept 25 arrival

- Mar 23 - Argentina registered 189,369 MT of soymeal for export

- Mar 22 - Argentina registered for export 109,820 MT of soymeal and 49,834 MT of soybean oil

- Weekly US soybeans export sales data for week ended Mar 15 of 899,100 MT, incl. 759,100 MT for 2017/18 (within market expectations of 700-1400 TMT). Export commitments for 2017/18 are running 7% behind of year-ago

- Weekly US soymeal export sales data for week ended Mar 15 of 195,400 MT, incl. 194,600 MT for 2017/18 (within market expectations of 100-300 TMT). Export commitments for 2017/18 are running 3% ahead of year-ago

- Informa Economics raised its forecast for 2018 US soybean plantings to a record high 91.5 million acres, from 91.197 million previously

- AgRural estimates 65% of Brazilian soybean crop has been harvested as of Mar 22 vs. 68% a year ago, ahead of the 62% five-year average

- Buenos Aires Grain Exchange lowered its forecast for Argentina's 2017/18 soybean crop by 2.5 MMT to 39.5 MMT, down 31.3% vs. 57.5 MMT in 2016/17

- Argentina's Ag Min cut its forecast of sunflower seed crop in 2017/18 to 3.4 MMT from 3.6 MMT in Feb, down 4.2% from 3.55 MMT in 2016/17. Sunseed crush in 2017/18 (Jan-Dec 2018) is expected to rise to 3.4 MMT from 3.35 MMT previous season

- Argentine February soybean crush was reported at 2.38 MMT, down 13% from 2.735 MMT in January and down 9.4% from last year

- Argentine February sunflower crush was reported at 196,598 MT, down 14.6 from 230,120 MT in January and down 3.6% from last year

- Stocks of soymeal at Argentine mills totals 691 TMT at the end of February 2018, up by 16.7% from a year-ago

- Stocks of soybean oil at Argentine mills totals 231,350 MT at the end of February 2018, down by 23% from a year-ago

- Stocks of sunoil at Argentine mills totals 47,468 MT at the end of February 2018, down by 37.9% from a year-ago

- Stocks of sunflower meal at Argentine mills totals 23,477 MT at the end of February 2018, a 56.4% decrease from a year-ago

- IGC projects global soybean production would rise by 12.2 MMT in 2018/19 to a record 353.7 MMT, with carryover stocks expected to fall 3.7 MMT from 2017/18 to 38.6 MMT

- Ukraine's Ag Min reports that 98.6% of Ukraine's winter rapeseed crops were emerged as of Mar 23; about 89% of emerged crops are in good to satisfactory condition, unchanged from prior week

- Ukrainian February sunflower oil production was reported at 427 TMT, down 1.7% from prior month and down 6.5% from last year. Jan-Feb 2018 sunoil production totalled 861 TMT, down 8.7% from the same period in 2017

- The EU has removed duties on biodiesel imports for 13 Argentine and Indonesian producers following the end of legal proceedings at the European Court of Justice

- EU this season in period of Jul 1-Mar 20, 2017/18 imported 9.16 MMT of soybeans vs. 9.65 MMT a year ago

- EU this season in period of Jul 1-Mar 20, 2017/18 imported 13.676 MMT of soymeal vs. 12.746 MMT a year ago

- EU this season in period of Jul 1-Mar 20, 2017/18 imported 2.921 MMT of rapeseed vs. 2.825 MMT a year ago

- EU this season in period of Jul 1-Mar 20, 2017/18 imported 381,592 MT of sunflowerseed vs. 686,422 MT a year ago

- EU this season in period of Jul 1-Mar 20, 2017/18 imported 2.657 MMT of sunflower meal vs. 2.398 MMT a year ago

- EU this season in period of Jul 1-Mar 20, 2017/18 imported 1.189 MMT of sunflower oil vs. 1.001 MMT a year ago

- EU this season in period of Jul 1-Mar 20, 2017/18 imported 4.473 MMT of palm oil vs. 4.311 MMT a year ago

- India imported 1.157 MMT of veg oils (edible & non-edible) in Feb vs. 1.291 MMT in Jan, down 9% from 1.27 MMT a year ago

- India imported 4.655 MMT of edible veg oils in Nov-Feb 2017/18, up 2% from the 2016/17 (4.577 MMT)

- India imported 546,009 MT of crude palm oil in February vs. 672,762 MT in January and vs. 498,404 MT a year ago. India's Nov-Feb 2017/18 crude palm oil imports at 2.387 MMT vs. 1.941 MMT a year ago

- India imported 202,409 MT of RBD palmolein in February vs. 150,664 MT in January and vs. 233,313 MT a year ago. India's Nov-Feb 2017/18 RBD palmolein imports at 607,359 MT vs. 916,438 MT a year ago

- India imported 133,787 MT of soybean oil in February vs. 224,870 MT in January and vs. 251,740 MT a year ago. India's Nov-Feb 2017/18 soybean oil imports at 711,835 MT vs. 814,731 MT a year ago

- India imported 212,531 MT of sunflower oil in February vs. 170,831 MT in January and vs. 209,422 MT a year ago. India's Nov-Feb 2017/18 sunflower oil imports at 813,827 MT vs. 768,189 MT a year ago

- India imported 18,436 MT of rapeseed oil in February vs. 16,702 MT in January and vs. 36,886 MT a year ago. India's Nov-Feb 2017/18 rapeseed oil imports at 95,274 MT vs. 120,141 MT a year ago

- India's stock of edible oils at various ports and in pipelines as of Mar 1, 2018 rose to 2.197 MMT from 2.195 MMT a month ago, and above the last year's 1.965 MMT. India's monthly requirement is about 1.825 MMT

- Malaysia set its crude palm oil export tax at 5% in April, after a three-month duty suspension implemented at the start of the year. Malaysia calculated a reference price of 2,474.63 MYR/mt for April