WHEAT

- Jan 15 - Jordan seeks 120,000 MT of optional-origin hard milling wheat for Apr-May shipment

- Jan 10 - South Korea's Major Feedmill Group (MFG) purchased 65,000 MT of optional-origin feed wheat from Agrocorp at 255.5 $/mt c&f + 1.20 $/mt surcharge for additional port unloading for March 30 arrival

- Jan 10 - Morocco's ONICL received no offers in a tender to import up to 345,455 MT of US durum wheat as part of a preferential-tariff import quota tender

- Indonesian flour millers recently bought 30,000 MT of Argentine wheat at around 270 $/mt c&f for shipment in February-March

- Jan 9 - Egypt's GASC bought 415,000 MT of Russian wheat:

  • for February 20-28 delivery:
    • 60,000 MT from GTCS at 263.45 $/mt c&f (248 fob+15.45 freight);
    • 60,000 MT from Daewoo at 263.75 $/mt c&f (250 fob+13.75 freight);
    • 60,000 MT from GTCS at 264.45 $/mt c&f (249 fob+15.45 freight);
    • 60,000 MT from Aston at 265.45 $/mt c&f (250 fob+15.45 freight);
    • 55,000 MT from Cofco at 265.6 $/mt c&f (249.4 fob+16.2 freight).
  • for March 1-10 delivery:
    • 60,000 MT from GTCS at 265.45 $/mt c&f (250 fob+15.45 freight);
    • 60,000 MT from Garant Logistics at 265.95 $/mt c&f (250.5 fob+15.45 freight)

- EU in week ended Jan 4 awarded licenses to import 689,261 MT of Ukrainian wheat under an annual duty-free quota. The award meant that the EU had now awarded 66% (689,261 MT) out of a total volume of 1,045,000 MT available in 2019 (1.035 MMT in 2018)

- Russia's Ag Min maintenances its grain export forecast of 42 MMT for the 2018/19 season. Russia exported 28.8 MMT of grain in July-December 2018, first half of 2018/19, up 4.7% from 27.5 MMT a year ago, including 24.3 MMT of wheat (up 13.5%). The main buyers of Russian grain remain Egypt (5.2 MMT, 18%), Turkey (3.4 MMT, 11%), Saudi Arabia (1.2 MMT, 4%), Vietnam (1.2 MMT, 4%) and Nigeria (1.2 MMT, 4%)

- Conab trimmed its estimate for 2018 wheat production to 5.428 MMT from 5.471 MMT in December and compared to 4.262 MMT last year. They lifted its estimate of 2018 wheat imports by 100,000 MT to 6.4 MMT (6.387 MMT in 2017)

CORN

- Jan 18 - Turkey's TMO seeks 342,000 MT (38x9 TMT) of corn for Jan 28-Feb 17 and Feb 25-Mar 17 shipment

- Jan 10 - South Korea's Feed Leaders Committee (FLC) bought around 66,000 MT of optional-origin corn from CHS: 55,840 MT at 209.7 $/mt c&f + 1.00 $/mt surcharge for additional port unloading and 10,160 MT at a premium of 1.505 $/bu over the Chicago March corn contract for April 20 arrival

- Jan 10 - South Korea's Nonghyup Feed Inc. (NOFI) bought 69,000 MT of optional-origin corn from Cargill at around 209.99 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for May 1 arrival

- Jan 10 - South Korea's Major Feedmill Group (MFG) bought 69,000 MT of optional-origin corn from Cargill at 209.99 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for May 14 arrival

- Jan 10 - Jordan has made no purchase in an international tender for 120,000 MT of optional-origin feed barley and re-tender on Jan 16

- EU has awarded all of the 1,175,000 MT of Ukrainian maize imports available in 2019 under a tariff-free quota after offers exceeded the total volume in a first bidding round last week (Jan 1-4)

- Conab lifted its forecast of Brazil's 2018/19 corn crop to 91.19 MMT from 91.103 MMT in Dec (80.786 MMT last season) with second crop at 63.735 MMT (53.975 MMT in 2017/18). Conab expects Brazil to export 31 MMT of corn (23.5 MMT in 2017/18). Ending stocks are forecasted to decline to 13.578 MMT from 15.488 MT in 2017/18

- China's Ag Min raised its estimate of 2018 corn output by 42.29 MMT to 257.33 MMT (259.07 MMT in 2017). They lowered forecast for 2018/19 corn imports by 1 MMT to 1.5 MMT (3.47 MMT in 2017/18)

SOYBEAN

- Jan 15 - Egypt's GASC seeks 10,000 MT optional-origin sunoil and 30,000 MT soyoil for March 1-15 and/or March 15-31 arrival

- Conab cut forecast of Brazil's 2018/19 soy output by 1.266 MMT to 118.8 MMT, below the record previous crop of 119.282 MMT. Conab expects Brazil to export 75 MMT of soybeans (83.865 MMT in 2017/18). Ending stocks are forecasted to rise to 999,600 MT from 599,500 MT in 2017/18

- Safras & Mercado cut its forecast for Brazil's 2018/19 soybean crop by 6.5 MMT to 115.72 MMT

- AgRural cut its forecast for Brazil's 2018/19 soybean crop by 4.5 MMT to 116.9 MMT

- China imported 5.72 MMT of soybeans in December, down 40.1% from the year before. China's soybean imports for all of 2018 fell for the first time since 2011, by 7.9% on year to 88.03 MMT

- China's imports of all vegetable oils in December was 742,000 MT, up 19.7% from 620,000 MT in November and up 21.6% vs. 610,000 MT year ago. For 2018, vegetable oil imports rose 9% to 6.29 MMT

- China's Ag Min lifted its 2018 soybean output estimate to 16 MMT from 15.83 MMT in Dec (15.28 MMT in 2017). Soybean imports forecast is maintained at 83.65 MMT vs. 94.13 MMT in 2017/18

- MPOB estimated Malaysian crude palm oil production in December at 1.808 MMT, ahead average expectation of 1.779 MMT but down 2% from 1.845 MMT in November. Malaysia's palm oil stocks at end-December rose 6.9% from the previous month to 3.215 MMT, the highest in two decades, also above the average market expectation of 3.137 MMT. Malaysian December palm oil exports rose by 0.6% to 1.383 MMT, also above average expectation of 1.14 MMT

- Surveyor AmSpec Agri Malaysia estimated Malaysia's January 1-10 palm oil exports at 457,880 MT up 52.9% from a month ago

- Surveyor Intertek Testing Services estimated Malaysia's January 1-10 palm oil exports at 451,845 MT up 46.6% from a month ago

- Surveyor SGS estimated Malaysia's January 1-10 palm oil exports at 466,350 MT up 49.4% from a month ago