WHEAT

- Mar 27 - Jordan bought 50,000 MT of optional-origin hard milling wheat from CHS at 222.5 $/mt c&f for August 16-31

- Mar 25 - Iraq purchased 100,000 MT of hard wheat from Ameropa: 50,000 MT of Australian wheat at 309.95 $/mt c&f and 50,000 MT of US wheat at 332.17 $/mt c&f. The tender had closed on Mar 19 with offers remaining valid until Mar 25

- US wheat export inspections for week, ending Mar 22, recorded 278,815 MT, near the lower end of trade expectations (250-500 TMT). Inspections for 2017/18 are running 8.5% behind of year-ago

- European Commission (EC) lifted its forecast of 2018 EU soft wheat crop by around 1 MMT to 140.96 MMT vs. 141.63 MMT last year. EU's executive forecasts EU soft wheat exports at 25.3 MMT in 2018/19, up from 23 MMT current season. Soft wheat inventories in the region are forecasted at 15.46 MMT by the end of June 2019, slightly above 15.33 MMT estimated for 2017/18

- China's February 2018 wheat imports down 73.1% on year to 61,697 MT, incl. 38,981 MT from Kazakhstan. China's Jan-Feb wheat imports fell 51.7% on year to 273,745 MT

- Mar 27 - China sold 155,000 MT of wheat from state reserves or 7.5% of the offered amount (2.07 MMT) at auction at average price of 2,449 RMB/mt (391 $/mt)

CORN

- Mar 28 - Taiwan's MFIG seeks 65,000 MT of corn from the US, Argentina or Brazil

- Mar 27 - Argentina registered 231,392 MT of corn for export

- Mar 23 - Saudi Arabia's SAGO (Saudi Grains Organisation) bought 1,020,000 MT of feed barley of Australia, North and South America, EU and Black Sea origin at an average price of 249.23 $/mt c&f in 17 consignments for May-June shipment to the Red Sea ports (600 TMT) and the Gulf ports (420 TMT):

  • Red Sea Ports:
    • 60,000 MT from Glencore at 251.47 $/mt c&f (May 15-30),
    • 60,000 MT from Glencore at 252.47 $/mt c&f (May 15-30),
    • 60,000 MT from Glencore at 253.47 $/mt c&f (May 15-30),
    • 60,000 MT from COFCO at 244.21 $/mt c&f (June 1-15),
    • 60,000 MT from COFCO at 250.41 $/mt c&f (June 1-15),
    • 60,000 MT from Casillo at 254.29 $/mt c&f (June 1-15),
    • 60,000 MT from Glencore at 238.47 $/mt c&f (June 15-30),
    • 60,000 MT from Glencore at 241.47 $/mt c&f (June 15-30),
    • 60,000 MT from Glencore at 242.47 $/mt c&f (June 15-30),
    • 60,000 MT from Dreyfus at 240.74 $/mt c&f (June 15-30).
  • Arabian Gulf Ports:
    • 60,000 MT from Glencore at 254.47 $/mt c&f (May 15-30),
    • 60,000 MT from Glencore at 255.47 $/mt c&f (May 15-30),
    • 60,000 MT from Glencore at 257.47 $/mt c&f (May 15-30),
    • 60,000 MT from COFCO at 255.21 $/mt c&f (June 1-15),
    • 60,000 MT from Dreyfus at 256.94 $/mt c&f (June 1-15),
    • 60,000 MT from Glencore at 242.47 $/mt c&f (June 15-30),
    • 60,000 MT from Glencore at 245.47 $/mt c&f (June 15-30).

- US corn export inspections for week, ending Mar 22, reported 1,153,963 MT, below market expectations (1.25-1.5 MMT). Inspections for 2017/18 are running 28.1% behind of year-ago

- Dr. Michael Cordonnier lowered his forecast of Argentina’s 2017/18 corn crop this week by 1 MMT to 33 MMT

- Agroconsult raised its forecast of Brazil's 2017/18 soybean crop to 118.9 MMT from 117.5 MMT estimated in February and 114.6 MMT last season. AgroConsult reported Brazil's soy area sampled showed 92% planted with GMO seeds

- EC expects 2018 EU corn harvest at 63.93 MMT, down 2% from 65.215 MMT in 2017. EC forecasts EU 2018/19 corn imports at 13.265 MMT vs. 15 MMT in 2017/18 and ending stock at 20.507 MMT vs. 21.683 MMT current season

- EC raised its forecast of 2018 EU barley harvest by 1.5 MMT to 61.431 MMT vs. 58.746 MMT in 2017. EC forecasts EU 2018/19 barley exports at 10.488 MMT vs. 8.0 MMT in 2017/18 and ending stock at 6.735 MMT vs. 5.884 MMT current season

- China imported 102,485 MT of corn in February, down 28.2% on year, incl. 91,359 MT from Ukraine. China's Jan-Feb corn imports rose 63.9% on year to 494,515 MT

- China imported 3,657 MT of distillers' dried grains (DDGS) in February, down 94.8% from a year-ago. China's Jan-Feb DDGS imports fell 88.4% on year to 12,199 MT

- China bought 197,652 cubic metres of ethanol in February (189,035 cubic metres from the US), the highest since May, 2016, up 64% from 124,823 cubic metres imported in January and compared with just 9 cubic metres a year earlier and were

- China imported 555,713 TMT of sorghum in February, down 24.4% from a year-ago. China's Jan-Feb sorghum imports fell 14.2% on year to 1.12 MT

- China's February 2018 barley imports fell 23% on year to 620,647 MT, incl. 499,509 MT from Australia. China's Jan-Feb barley imports fell 28% on year to 1.057 MMT

- SAGIS estimated South Africa's corn stocks as of February 28 were at 5.51 MMT vs. 6.407 MMT a month ago and 1.86 MMT a year ago

- SAGIS estimated S. Africa's February corn exports at 146,820 MT. May-Feb 2017/18 exports rose 158.8% on year to 2.155 MMT

- SAGIS said that S. Africa didn’t import any corn in May-Feb 2017/18 compared to the 1.939 MMT imported in May-Feb 2016/17

SOYBEAN

- Mar 27 - Argentina registered 97,000 MT of soymeal for export

- Mar 26 - USDA announced export sales of 132,000 MT of US soybeans for delivery to unknown destinations during 2017/18

- Mar 26 - USDA announced export sales of 120,000 MT of US soybean meal for delivery to Spain during 2017/18

- US soybean export inspections for week, ending Mar 22, reported 584,612 MT, within trade estimates (450-650 TMT). Inspections for the 2017/18 marketing year are running 12.0% behind of year-ago

- Dr. Michael Cordonnier lowered his forecast of Argentina’s 2017/18 soybean crop this week by 1 MMT to 41 MMT

- Indonesia will maintain export tax for crude palm oil at zero for April, as the CPO reference price is seen at below the 750 $/mt

- Surveyor AmSpec Agri Malaysia estimated Malaysia's March 1-25 palm oil exports at 1,165,833 MT up 9.5% from a month ago

- Surveyor SGS estimated Malaysia's March 1-25 palm oil exports at 1,190,261 MT up 10.6% from a month ago

- EC lowered its forecast of 2018 EU rapeseed harvest by 0.5 MMT to 22.273 MMT, up 2.1% from 21.8 MMT in 2017

- EC forecasts 2018 EU sunflower seed crop at 9.87 MMT, down 4.4% from 10.329 MMT in 2017

- EC forecasts 2018 EU soybean harvest at 2.807 MMT, almost unchanged from 2017 (2.789 MMT)

- China imported 5,424 MMT of soybeans during February down 2.1% from year-ago (main suppliers: US (3.345 MMT), Brazil (1.746 MMT), Canada (207,291 MT) and Russia (120,112 MT)). China's Jan-Feb soybean imports rose 5.4% on year to 13.904 MMT

- China's February soybean oil imports fell 80.2% from year-ago levels to 5,794 MT. China's Jan-Feb soy oil imports decline 61.3% on year to 25,158 MT

- China's February rapeseed imports down 35.3% on year to 362,718 MT, incl. 342,361 MT from Canada. China's Jan-Feb rapeseed imports rose 22.9% on year to 735,410 MT

- China's February rapeseed oil imports decreased by 36% on year to 50,148 MT, mainly from Canada (45,338 MT). China's Jan-Feb rapeseed oil imports fell 7.7% on year to 146,987 MT

- China's February rapeseed meal imports decreased by 1.7% on year to 63,732 MT, from Canada. China's Jan-Feb rapeseed meal imports rose 29.6% on year to 188,053 MT

- China's February palm oil imports up 9.9% on year to 373,342 MT (main suppliers: Indonesia (258,184 MT) and Malaysia (115,033 MT)). China's Jan-Feb palm oil imports fell 3.8% on year to 841,429 MT

- China's February sunflower oil imports down 4% on year to 45,173 MT (main suppliers: Ukraine (37,969 MT) and Russia (5,313 MT)). China's Jan-Feb sunflower oil imports rose 69.9% on year to 137,290 MT