WHEAT

- Mar 29 - Egypt's GASC bought 475,000 MT of wheat from Russia (355 TMT) and Romania (120 TMT) for April 28-May 8 shipment:

  • 55,000 MT of Russian wheat from GTCS at 233.18 $/mt c&f (217 fob+16.18 freight);
  • 60,000 MT of Russian wheat from GTCS at 234.2 $/mt c&f (218 fob+16.2 freight);
  • 60,000 MT of Russian wheat from GTCS at 234.9 $/mt c&f (219.9 fob+15 freight);
  • 60,000 MT of Russian wheat from Daewoo at 234.6 $/mt c&f (218.4 fob+16.2 freight);
  • 60,000 MT of Romanian wheat from Cargill at 233.9 $/mt c&f (219.9 fob+14 freight);
  • 60,000 MT of Romanian wheat from Ameropa at 234.8 $/mt c&f (219.65 fob+15.15 freight);
  • 60,000 MT of Russian wheat from ADM at 235.5 $/mt c&f (219.3 fob+16.2 freight);
  • 60,000 MT of Russian wheat from Aston at 235.5 $/mt c&f (219.3 fob+16.2 freight)

- Weekly US wheat export sales data for week ended Mar 22 totalled 475,600 MT, incl. 353,800 MT for 2017/18 (within trade expectations of 200-400 TMT). Export commitments for 2017/18 are running 13% behind of year-ago

- USDA estimates US all-wheat plantings this year at 47.339 million acres (19.157 million ha), up 2.9% from last year and above analyst forecasts (43.9-47.2 – range)

- USDA reported March 1 wheat stocks at 1.494 billion bushels, in line with expectations

- Russia’s Ag Min said Russia exported about 39.17 MMT of grain between July 1-Mar 28, 2017/18, up by 39.8% from 28.016 MMT a year ago, including:

  • wheat – 30.611 MMT (21.687 MMT in 2016/17);
  • barley – 4.409 MMT (2.238 MMT);
  • corn – 3.891 MMT (3.893 MMT)

- Russia has 3,963,600 MT of grain in its federal intervention fund as of Mar 30 vs. 4,003,500 MT a year ago

- Russia's Ag Min plans to set grain prices for its restocking programme in the 2018/19 marketing year, which starts on July 1:

  • Wheat 1 class – 10,900 RUR/mt (12,500 RUR/mt in 2017/18);
  • Wheat 2 class – 9,900 RUR/mt (11,500 RUR/mt);
  • Wheat 3 class – 8,900 RUR/mt (10,300 RUR/mt);
  • Wheat 4 class – 7,600 RUR/mt (9,000 RUR/mt);
  • Wheat 5 class – 6,400 RUR/mt (7,600 RUR/mt);
  • Rye – 5,900 RUR/mt (7,400 RUR/mt);
  • Barley – 6,500 RUR/mt (7,600 RUR/mt);
  • Corn – 7,100 RUR/mt (7,900 RUR/mt)

- According to TAXUD, the EU this season in period of July 1-Mar 27, 2017/18 exported 14.273 MMT of soft wheat compared to 18.587 MMT a year ago

- FranceAgriMer said 78% of France’s soft wheat crops were in good to excellent condition as of Mar 25, down from 79% week prior and down vs. 90% a year ago

CORN

- Weekly US corn export sales data for week ended Mar 22 of 1,640,100 MT, incl. 1,353,100 MT for 2017/18 (within trade expectations of 1.2-1.5 MMT). Export commitments for 2017/18 are running 2% behind of year-ago

- USDA forecasted US corn plantings for 2018 at 88.026 million acres (35.623 million hectares), down 2% from 2017 and below an average of trade expectations (89.42 – avg., 87.55-91 mln acres – range)

- USDA pegged US March 1 corn stocks at a record 8.888 billion bushels, above analyst estimates (8.55-8.881 billion bu – range)

- EU this season in period of Jul 1-Mar 27, 2017/18 imported 12.765 MMT of corn (maize) vs. 8.534 MMT a year ago

- EU this season in period of Jul 1-Mar 27, 2017/18 exported 896,002 MT of corn vs. 1.889 MMT a year ago

- EU this season in period of Jul 1-Mar 27, 2017/18 exported 4.333 MMT of barley vs. 4.022 MMT a year ago

- EU this season in period of Jul 1-Mar 27, 2017/18 exported 2.118 MMT of malt in barley equivalent vs. 2.199 MMT a year ago

- FranceAgriMer said 75% of France’s winter barley crops were in good to excellent condition as of Mar 25, compared with 76% a week earlier and vs. 85% a year ago

- FranceAgriMer estimated spring barley planting 67% done as of Mar 25 (38% a week-ago), behind of last year’s pace of 96%

SOYBEAN

- Mar 29 - USDA announced export sales of 266,500 MT of US soybeans for delivery to unknown destinations during 2017/18

- Weekly US soybeans export sales data for week ended Mar 22 of 387,200 MT, incl. 317,500 MT for 2017/18 (below market expectations of 600-900 TMT). Export commitments for 2017/18 are running 8% behind of year-ago

- Weekly US soymeal export sales data for week ended Mar 22 of 184,100 MT for 2017/18 (within market expectations of 150-350 TMT). Export commitments for 2017/18 are running 4% ahead of year-ago

- USDA projected soybean plantings at 88.982 million acres, down 1% from 2017 and below a range of estimates from analysts (89.9-92.6), most of whom were expecting an increase in soybean acreage

- USDA pegged US March 1 soybean stocks at 2.107 billion bushels, up 21% from a year ago and above trade expectations for 2.03 billion (1.81-2.11 – range)

- AgRural estimates 71% of Brazilian soybean crop has been harvested as of Mar 29 vs. 74% a year ago, ahead of the 69% five-year average

- EU this season in period of Jul 1-Mar 27, 2017/18 imported 9.322 MMT of soybeans vs. 9.915 MMT a year ago

- EU this season in period of Jul 1-Mar 27, 2017/18 imported 13.921 MMT of soymeal vs. 13.138 MMT a year ago

- EU this season in period of Jul 1-Mar 27, 2017/18 imported 2.953 MMT of rapeseed vs. 2.896 MMT a year ago

- EU this season in period of Jul 1-Mar 27, 2017/18 imported 398,236 MT of sunflowerseed vs. 695,716 MT a year ago

- EU this season in period of Jul 1-Mar 27, 2017/18 imported 2.746 MMT of sunflower meal vs. 2.49 MMT a year ago

- EU this season in period of Jul 1-Mar 27, 2017/18 imported 1.227 MMT of sunflower oil vs. 1.024 MMT a year ago

- EU this season in period of Jul 1-Mar 27, 2017/18 imported 4.564 MMT of palm oil vs. 4.427 MMT a year ago

- Strategie Grains lowered its forecast of EU's 2018/19 rapeseed production to 22.54 MMT from 22.66 MMT previously (21.99 MMT in 2017/18)

- Strategie Grains lowered its forecast of EU's 2018/19 sunflower seed production to 9.04 MMT from 9.1 MMT previously (9.44 MMT in 2017/18)

- Strategie Grains raised forecast of EU's 2018/19 soybean production to 2.77 MMT from 2.72 MMT previously (2.61 MMT in 2017/18)

- Buenos Aires Grain Exchange lowered its forecast for Argentina's 2017/18 sunflower crop by 100,000 MT to 3.5 MMT, up 6.1% vs. 3.3 MMT in 2016/17