WHEAT

- US wheat export sales data for the six-week period ended Feb 14 totaled 3,818,900 MT, incl. 3,574,800 MT for 2018/19, topped expectations (2-3 MMT). Export commitments for 2018/19 are running in line with a year-ago

- EU in week ended Feb 15 awarded licenses to import 6,000 MT of Ukrainian wheat under an annual duty-free quota.The award meant that the EU had now awarded 68.6% (717,070 MT) out of a total volume of 1,045,000 MT available in 2019

- FranceAgriMer estimated 85% of French soft wheat crops were in good/excellent condition by Feb 18, unchanged vs week earlier and a year earlier

- Argentina's Ag Min raised its estimate of 2018/19 wheat production by 200,000 MT to 19.46 MMT, up 5.2% from 18.5 MMT in 2017/18. Wheat exports forecast for 2018/19 (Dec-Nov) was upped by 200,000 MT to 13.2 MMT vs. 11.83 MMT in previous season

- Egypt has strategic reserves of wheat sufficient for four months

CORN

- US corn export sales data for the six-week period ended Feb 14 totaled 6,085,700 MT, incl. 6,056,500 MT for 2018/19, within expectations (4-7 MMT). Export commitments for 2018/19 are running 2% ahead of year-ago

- USDA forecast US corn crop this year at 14.89 billion bushels, 3% more than 2018, based on an average yield of 176.0 bushels per acre. Ending stocks for the 2019/20 crop year were pegged at 1.650 billion bushels, 5% lower than the prior marketing year. Corn exports were seen rising to 2.475 billion bushels

- FranceAgriMer estimated 80% of French winter barley crops were in good/excellent condition by Feb 18, up 1% point from prior week and vs. 82% a year earlier. An estimated 23% of the spring barley area had been sown by Feb 18, up from 6% a year ago

SOYBEAN

- China committed to buy an additional 10 MMT of US soybeans

- US soybeans export sales data for the six-week period ended Feb 14 totaled 6,910,300 MT, incl. 6,531,700 MT for 2018/19, within expectations (6-9 MMT). Export commitments for 2018/19 are running 17% behind of year-ago

- US soymeal export sales data for the six-week period ended Feb 14 of 1,529,300 MT, incl. 1,468,800 MT for 2018/19, near the top end of market expectations (500-1500 TMT). Export commitments for 2018/19 are running 7% ahead of year-ago

- USDA forecast US soybean crop this year at 4.175 billion bushels, 8% lower than 2018. Ending stocks 2019/20 were seen falling to 845 million bushels, down 65 million from a year earlier

- Argentina's Ag Min forecasts sunflower seed crop in 2018/19 at 4 MMT, up 13.3% from 3.53 MMT in 2017/18. Sunseed crush in 2018/19 (Jan-Dec 2019) is expected to rise to 3.89 MMT from 3.28 MMT previous season

- Egypt has sufficient vegetable oils reserves to cover its needs for 3.2 months