WHEAT

- March 25 - Bangladesh seeks 50,000 MT of optional origin milling wheat, 12.5% protein, for shipping within 40 days of the signing of the contract. The deadline to submit offers is March 25, with validity up to April 4

- March 14 - Turkey's TMO seeks 290,000 MT of red milling wheat (29x10 TMT) for March 21-April 5 shipment

- March 13 - Algeria's OAIC seeks at least 50,000 MT of optional-origin soft milling wheat for April 16-May 15 shipment. Offers must remain valid until March 14

- March 7 - Feed mills in the Philippines bought 40,000 MT of feed wheat from Australia at 265 $/mt c&f for May shipment

- Iraq purchased 100,000 MT of hard milling wheat: 50,000 MT of US wheat from Hakan Agro at 294.14 $/mt cif and 50,000 MT of Canadian wheat from Glencore at 303.75 $/mt cif. The tender had closed on March 4 with offers remaining valid until March 10

- March 5 - Algeria's OAIC bought around 300,000 MT of optional-origin durum wheat at around 282-283 $/mt c&f for April shipment   

- March 4 - Syria's Hoboob bought 200,000 MT of Black Sea soft wheat at 252 $/mt c&f

- US wheat export inspections for week, ending March 7, recorded 592,001 MT, within trade expectations. Inspections for 2018/19 are running 5.9% behind of year-ago

- EU this season in period of July 1-March 10, 2018/19 exported 12.531 MMT of soft wheat compared to 14.047 MMT a year ago

- Coceral forecasts EU-28’s 2019 soft wheat crop at 139.822 MMT, up 9.7% from 127.437 MMT in 2018

- FranceAgriMer estimated 86% of French soft wheat crops were in good/excellent condition by March 4, up 1% point from week earlier and compared to 81% a year earlier

- France exported 1.18 MMT of soft wheat in January, the seventh month of the 2018/19 marketing season, including 529,500 MT of soft wheat shipped outside the EU (incl. 271 TMT to Algeria). Cumulative French soft wheat exports in July-January reached 8.89 MMT, down 1% from the same period last year. Shipments outside the EU were up 14% at 4.9 MMT, while exports within the EU were down 15% at 3.99 MMT

- FAO trimmed its estimate of global wheat production in 2018 to 728.3 MMT from 728.4 MMT projected in Feb (759.4 MMT in 2017), with reduced estimates in Kazakhstan offsetting higher estimates for Argentina and Australia. Stocks (ending in 2019) were lowered this month by 2.2 MMT to 264.7 MMT, below their record high opening levels of 275.3 MMT

- USDA trimmed its forecast of global wheat production by 1.7 MMT to 733.0 MMT, down 3.9% (or 30 MMT) from the 2017/18 record, on smaller crops in Iraq and Kazakhstan

- USDA raised forecast of 2018/19 world wheat inventories by 2.99 MMT to 270.53 MMT vs. 279.61 MMT in 2017/18, above pre-report expectations (267.47 MMT – avg., 266.00-269.00 MMT – range)

CORN

- March 12 - Iran's SLAL seeks 200,000 MT of barley for shipment in April, May and June

- March 12 - Iran's SLAL seeks 200,000 MT of corn for shipment in April, May and June

- March 8 - South Korea's KFA (Korea Feed Association) bought 60,000 MT of optional-origin corn from CHS at 191.60 $/mt c&f for Sept 25 arrival

- March 7 - South Korea's Feed Leaders Committee (FLC) in a private deal bought 136,000 MT of optional-origin corn:

  • 68,000 MT from Mitsui at 193.99 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for Aug 20 arrival;
  • 68,000 MT from Pan Ocean at 192.99 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for Sept 15 arrival

- US corn export inspections for week, ending March 7, reported 765,618 MT, below market expectations. Inspections for 2018/19 are running 30.5% ahead of year-ago

- EU this season in period of July 1-March 10, 2018/19 imported 17.158 MMT of corn (maize) vs. 12.102 MMT a year ago

- EU this season in period of July 1-March 10, 2018/19 exported 1.529 MMT of corn vs. 882,056 MT a year ago

- EU this season in period of July 1-March 10, 2018/19 exported 3.18 MMT of barley vs. 4.129 MMT a year ago

- EU this season in period of July 1-March 10, 2018/19 exported 1.862 MMT of malt in barley equivalent vs. 1.986 MMT a year ago

- Coceral forecasts EU-28’s 2019 corn crop at 60.999 MMT, slightly up from 60.272 MMT in 2018

- Coceral expects EU-28’s 2019 barley crop at 59.423 MMT, up from 56.071 MMT in 2018

- FranceAgriMer estimated 80% of French winter barley crops were in good/excellent condition by March 4, unchanged from prior week and vs. 79% a year earlier. An estimated 96% of the spring barley area had been sown by March 4, up from 29% a year ago

- Ukraine’s Ag Min estimated early spring grain planting 7% done as of March 11. Ukrainian farmers planted 159,000 ha of spring crops, thereof 103,000 ha of barley (7% of plan) and 48,000 ha of peas (14% of plan)

- FAO cut its estimate of global corn production in 2018 to 1,074.4 MMT from 1,080.5 MMT projected in Feb, with reduced yields in the US and lower crop prospects in South Africa more than offsetting an upward revision in the Ukraine. Global corn stocks (ending in 2019) falling by 7.7 MMT to 267 MMT (307.5 MMT in 2017/18)

- USDA raised forecast of global corn production in 2018/19 by 1.55 MMT to 1,101 MMT, up 2.3% (or 24.9 MMT) from last year, with larger crops for India, the EU, and Russia more than offsetting reductions for Paraguay and South Africa

- USDA lowered forecast of 2018/19 global corn ending stocks by 1.25 MMT to 308.53 MMT, below an average of trade expectations (309.06 MMT), and down from 341.16 MMT in 2017/18

SOYBEAN

- March 12 - Iran's SLAL seeks 200,000 MT of soymeal for shipment in April, May and June

- March 11 - USDA announced export sales of 926,000 MT of US soybeans for delivery to China during 2018/19

- March 8 - USDA announced export sales of 664,000 MT of US soybeans for delivery to China during 2018/19

- US soybean export inspections for week, ending March 7, reported 874,363 MT, within trade estimates. Inspections for the 2018/19 marketing year are running 32.5% behind of year-ago

- China imported 4.46 MMT of soybeans in February, down 18% from the year before. For the first two months of 2019, imports fell to 11.83 MMT, down 15% from the same time a year ago

- China's imports of all vegetable oils in February was 522,000 MT up 47% on year. China's Jan-Feb vegetable oil imports climbed 49% on year to 1.38 MMT

- China's Ag Min raised its 2018/19 soybean import forecast to 85 MMT compared to the previous forecast of 83.65 MMT, still down vs. 94.13 MMT in 2017/18

- FAO lowered its forecast for world soybean production in 2018/19 by 2.8 MMT to 361.5 MMT (341.7 MMT in 2017/18), because lower forecasts for Brazil and downward corrections in the US. Stocks (2018/19 carry-out) revised down by 1.4 MMT to 52.3 MMT (41.1 MMT in 2017/18)

- USDA lowered forecast of global soybean production in 2018/19 by 0.9 MMT to a record 360.08 MMT, up 5.8% (or 19.6 MMT) from last year, on reduced output in Brazil and Paraguay

- USDA raised forecast of 2018/19 global soybean ending stocks by 0.45 MMT to a record 107.17 MMT, topping an average of estimates of 106.33 MMT and vs. 98.56 MMT in 2017/18

- EU this season in period of July 1-March 10, 2018/19 imported 9.927 MMT of soybeans vs. 8.97 MMT a year ago

- EU this season in period of July 1-March 10, 2018/19 imported 12.11 MMT of soymeal vs. 13.275 MMT a year ago

- EU this season in period of July 1-March 10, 2018/19 imported 3.143 MMT of rapeseed vs. 2.925 MMT a year ago

- EU this season in period of July 1-March 10, 2018/19 imported 351,716 MT of sunflowerseed vs. 375,903 MT a year ago

- EU this season in period of July 1-March 10, 2018/19 imported 2.097 MMT of sunflower meal vs. 2.579 MMT a year ago

- EU this season in period of July 1-March 10, 2018/19 imported 1.039 MMT of sunflower oil vs. 1.179 MMT a year ago

- EU this season in period of July 1-March 10, 2018/19 imported 4.288 MMT of palm oil vs. 4.395 MMT a year ago

- Coceral forecasts 2019 EU-28 soybean crop at 2.877 MMT, down from 2.93 MMT in 2018

- Coceral expects 2019 EU-28 rapeseed harvest at 18.475 MMT, down 6.3% from 19.71 MMT in 2018

- Coceral forecasts 2019 EU-28 sunflower crop at 9.422 MMT, down 3.7% from 9.783 MMT in 2018

- MPOB estimated Malaysian crude palm oil production in February at 1.545 MMT, below the average expectation of 1.599 MMT and down 11.1% from 1.737 MMT in January. Malaysia's palm oil stocks at end-February rose 1.3% from the previous month to 3.045 MMT, above the average market expectation of 2.952 MMT. Malaysian February palm oil exports fell by 21.4% to 1.321 MMT, also below average expectation of 1.438 MMT

- Surveyor SGS estimated Malaysia's March 1-10 palm oil exports at 412,253 MT up 5% from a month ago

- Surveyor AmSpec Agri Malaysia estimated Malaysia's March 1-10 palm oil exports at 453,283 MT up 11.4% from a month ago

- Surveyor Intertek Testing Services estimated Malaysia's March 1-10 palm oil exports up 10.7% from a month ago