WHEAT

- Feb 15 - South Korea's Major Feedmill Group (MFG) made no purchase in its tender for 65,000 MT of optional-origin feed wheat for June arrival, citing too high prices

- Feb 14 - Algeria's OAIC bought 600,000 MT of wheat in a tender at 247-247.5 $/mt c&f for March 16-April 15 shipment from Lecureur (150 TMT at 247.5 $/mt), Bunge (150 TMT at 247 $/mt), Soufflet (120 TMT at 247 $/mt), Dreyfus (90 TMT at 247 $/mt), Cofco (90 TMT at 247.5 $/mt)

- Two flour mills in South Korea last week purchased about 85,000 MT of US milling wheat:

  • 50,000 MT for May 16-June 15 shipment, involved about 35 TMT of hard red winter, 11.5% protein, at 243.20 $/mt fob, also included soft white wheat, 10.5% protein, at 235.16 $/mt fob, soft white wheat, 9.5% protein, at 236.26 $/mt fob, soft white wheat, 8.5% protein, at 235.16 $/mt fob and northern spring wheat, 14.0% protein, at 250.32 $/mt fob;
  • 35,000 MT for May 10-June 10 shipment, involved hard red winter, 11.5% protein, at 243.30 $/mt fob, soft white wheat of 10.5% protein, at 233.20 $/mt fob and northern spring wheat, 14.0% protein, at 250.15 $/mt fob

- Feed mills in the Philippines last week bought 55,000 MT of feed wheat from Australia at 275 $/mt c&f for shipment April 16-May 15

- Weekly US wheat export sales data for week ended Jan 3 totaled 161,400 MT, incl. 131,200 MT for 2018/19, lighter than expected (200-500 TMT). Export commitments for 2018/19 are running 9% behind of year-ago

- EU in week ended Feb 8 awarded licenses to import 5,644 MT of Ukrainian wheat under an annual duty-free quota.The award meant that the EU had now awarded 68% (711,070 MT) out of a total volume of 1,045,000 MT available in 2019. Also EU this week awarded the import of 22,080 MT of wheat under a reduced-tariff quota open to all origins apart from the US

- Russia’s Ag Min said Russia exported 32.6 MMT of grain between July 1-Feb 7, 2018/19, up 3% from 31.7 MMT a year ago

- Russia had 2,712,200 MT of grain in its federal intervention fund as of Feb 8 vs. 2,825,100 MT a week ago and 3,966,700 MT a year ago

- Russia's Ag Min forecasts a 5% increase of the country's grain harvest in 2019 to 118 MMT

- Russia's state-controlled VTB Bank will buy a grain terminal from Novorossiysk Commercial Sea Port

- Grain supplies to Syria from the Crimean port of Sevastopol will rise to as high as 300,000 MT this year from 60,000 MT in 2018

- Russia plans to build a grain terminal in Crimea

- FranceAgriMer estimated 85% of French soft wheat crops were in good/excellent condition by Feb 11 compared to 84% a year earlier

CORN

- Feb 15 - South Korea's Nonghyup Feed Inc. (NOFI) bought 69,000 MT of worldwide-origin corn from Cargill at 205.48 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for June 25 arrival

- Feb 15 - South Korea's KFA (Korea Feed Association) in a private deal bought 60,000 MT of optional-origin corn from Olam at 207.88 $/mt c&f including surcharge for additional port unloading for arrival around June 19

- Feb 15 - USDA announced export sales of 205,744 MT of US corn for delivery to unknown destinations during 2018/19

- Feb 15 - Argentina registered 489,000 MT of corn for export

- Feb 13 - South Korea's KFA (Korea Feed Association) in a private deal bought 115,000 MT of optional-origin corn from Dreyfus:

  • 50,000 MT from South America at 207.49 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for arrival around May 25;
  • 65,000 MT at 205.50 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for arrival around June 27

- Feb 13 - South Korea's Major Feedmill Group (MFG) in a private deal bought 69,000 MT of optional-origin corn from Dreyfus at 204.99 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for July 2 arrival

- Weekly US corn export sales data for week ended Jan 3 totaled 459,800 MT for 2018/19, below expectations (500-900 TMT). Export commitments for 2018/19 are running 19% ahead of year-ago

- Informa Economics projected US 2019 corn plantings at 91.591 million acres, up slightly from its Jan 23 forecast of 91.504 million acres. They forecast 2019 corn production at 14.908 billion bushels based on a yield of 177.0 bu/acre

- Rosario grain exchange raised its forecast of Argentine 2018/19 corn crop by 2.5 MMT to 46.5 MMT

- Safras & Mercado lowered its forecast for Brazil's 2018/19 corn crop to 93.305 MMT from the 93.366 MMT forecast in January

- FranceAgriMer estimated 79% of French winter barley crops were in good/excellent condition by Feb 11 versus 83% a year earlier. An estimated 12% of the spring barley area had been sown by Feb 11, up from 5% a year ago

SOYBEAN

- Feb 15 - Argentina registered 197,000 MT of soymeal for export

- Weekly US soybeans export sales data for week ended Jan 3 totaled -610,900 MT, incl. net sales cancellations of 612,000 MT for 2018/19, well below expectations (600-1000 TMT). Export commitments for 2018/19 are running 27% behind of year-ago

- Weekly US soymeal export sales data for week ended Jan 3 of 124,700 MT for 2018/19, within market expectations (100-300 TMT). Export commitments for 2018/19 are running 9% ahead of year-ago

- NOPA said its members crushed a bigger-than-expected 171.630 million bushels of soybeans during January (169.575 million bu – average expectations).NOPA processors crashed 171.759 mln bu in December and 163.111 mln bu a year ago. Soyoil stocks rose to 1.549 billion lbs as of Jan 31 from 1.498 a month earlier, but below the average expectations of 1.566 billion lbs and last year’s level of 1.728 billion lbs. Soymeal exports rose to 905,923 tons from 826,404 tons in December and vs. 860,416 tons a year-ago

- Informa Economics projected US 2019 soybean plantings at 86.044 million acres, down from its Jan 23 forecast of 86.204 million acres. They forecast 2019 soybean production at 4.368 billion bushels based on a yield of 51.2 bu/acre

- Safras & Mercado lowered its forecast for Brazil's 2018/19 soybean crop just by 0.3 MMT to 115.4 MMT as weather stopped worsening in key growing regions

- Rosario grain exchange upped its forecast of Argentine 2018/19 soybean crop by 2 MMT to 52 MMT

- Buenos Aires Grains Exchange kept its forecast of Argentine 2018/19 soybean production at 53 MMT (35.1 MMT in 2017/18)

- China imported 7.38 MMT of soybeans in January, down 13% from the year before

- China's imports of all vegetable oils in January was 859,000 MT, up 16% from 742,000 MT in December and up 51% vs. 570,000 MT year ago

- India imported 1.275 MMT of veg oils (edible & non-edible) in January vs. 1.211 MMT in December, down 1.2% from 1.291 MMT a year ago

- India imported 645,308 MT of crude palm oil in January vs. 670,244 MT in December and vs. 672,762 MT a year ago. India's Nov-Jan 2018/19 imports totals 1.884 MMT vs. 1.841 MMT a year ago

- India imported 167,429 MT of RBD palmolein in January vs. 130,459 MT in December and vs. 150,664 MT a year ago. India's Nov-Jan 2018/19 imports totals 406,799 MT vs. 404,950 MT a year ago

- India imported 185,906 MT of soybean oil in January vs. 85,404 MT in December and vs. 224,870 MT a year ago. India's Nov-Jan 2018/19 imports totals 475,044 MT vs. 578,048 MT a year ago

- India imported 200,027 MT of sunflower oil in January vs. 235,824 MT in December and vs. 170,831 MT a year ago. India's Nov-Jan 2018/19 imports totals 601,401 MT vs. 601,296 MT a year ago

- India's stock of edible oils at various ports and in pipelines as of February 1, 2019 increase to 2.11 MMT from 2.025 MMT a month ago but down vs. the last year's 2.195 MMT. India's monthly requirement is about 1.9 MMT

- Russian January sunflower oil production was reported at 415 TMT, down 14.6% from prior month and down 3.2% from last year

- Malaysia will maintain its crude palm oil export tax at 0% in March 2019, the same rate as the previous month. Malaysia calculated a reference price of 2,084.37 MYR/mt for March

- Surveyor Intertek Testing Services estimated Malaysia's February 1-15 palm oil exports at 686,657 MT up 11.6% from a month ago

- Surveyor AmSpec Agri Malaysia estimated Malaysia's February 1-15 palm oil exports at 685,779 MT up 12.9% from a month ago

- Surveyor SGS estimated Malaysia's February 1-15 palm oil exports at 674,129 MT up 4.2% from a month ago