WHEAT

- March 14 - Japan seeks 116,365 MT of food wheat for Apr-May shipments:

  • 12,615 MT of western white US wheat;
  • 22,725 MT of hard red winter US wheat;
  • 52,960 MT of Canadian western red spring wheat;
  • 28,065 MT of Australian standard white wheat

- March 14 - A group of flour mills in South Korea seeks about 50,000 MT of milling wheat from the US for July 16-Aug 15 shipment and 30,800 MT from Australia for June 19-July 19 shipment

- March 13 - Tunisia's state grains agency bought 42,000 MT of optional-origin durum wheat and 92,000 MT of soft wheat for Apr-May shipment:

  • 75,000 MT (3x25 TMT) of soft milling wheat from Cofco at 235 $/mt c&f;
  • 17,000 MT of soft milling wheat from Casillo at 242.98 $/mt c&f;
  • 25,000 MT of durum wheat from Casillo at 279.49 $/mt c&f;
  • 17,000 MT of durum wheat from Casillo at 281.89 $/mt c&f;

- The lowest offer in Bangladesh’s tender for 50,000 MT of wheat came in at 268.92 $/mt c&f liner out from Agrocorp. Other offers were: Swiss Singapore Overseas – 273.39 $/mt, J.K. International – 274.45 $/mt, Aston – 281.4 $/mt, Phoenix – 282.95 $/mt. The deadline to submit offers is March 13, with validity up to March 27

- March 12 - Jordan has made no purchase in an international tender for 120,000 MT of optional-origin hard milling wheat and re-tender on March 19

- Millers in Indonesia in recent deals bought up to 200,000 MT of Black Sea wheat at around 215 $/mt c&f, for arrival in August

- Conab kept its estimate for 2018 wheat production at 5.631 MMT compared to 4.262 MMT last year. They raised its estimate of 2018 wheat imports by 300,000 MT to 7 MMT (6.387 MMT in 2017)

- Ukraine exported 973 TMT of wheat in February 2019, down 6.4% on year (1.04 MMT in Feb 2018)

- British wheat imports slowed in January to 101,907 MT (incl. 24,584 MT from US and 18,500 MT from Romania) from 153,980 MT in December but are still running well ahead of last season's pace. Cumulative imports in July-January 2018/19 totalled 1.273 MMT, up from 897,093 MT in the same period last season. British wheat exports totalled only 37,126 MT in January, down from the previous month's 41,854 MT. Cumulative exports were also lower at 213,119 MT, down from 305,187 MT in the same period last season

- FranceAgriMer cut its forecast for French soft wheat stocks at the end of the 2018/19 to 2.444 MMT from 2.993 MMT projected last month (2.984 MMT in 2017/18). Projected exports outside the EU was upped from 8.85 to 9.5 MMT, up 17% from 8.117 MMT in 2017/18, while forecast of shipments within the EU was lowered from 7.557 to 7.487 MMT, down 19.2% from 9.268 MMT in 2017/18

CORN

- March 13 - Tunisia's state grains agency bought 25,000 MT of optional-origin feed barley from Glencore at 198.9 $/mt, c&f for Aug-Sept shipment

- March 13 - Taiwan's MFIG bought 65,000 MT of Argentine corn from CJ International at a premium of 137.4 USc/bushel c&f over the Chicago July contract (203 $/mt, c&f) for May 20-June 8 shipment

- March 13 - Japan received no offers for 120,000 MT of feed wheat and 200,000 MT of feed barley in a simultaneous buy and sell (SBS) auction. New SBS tender for the same amounts for each grain will be held on March 20

- March 12 - Turkey's TMO bought 300,000 MT of corn for:

  • March 25-April 12 shipment:
    • 50,000 MT from Cargill at 181.60 $/mt c&f Derince;
    • 25,000 MT from ADM at 184.50 $/mt c&f Izmir;
    • 25,000 MT from CHS at 185.70 $/mt c&f Izmir;
    • 25,000 MT from ADM at 184.40 $/mt c&f Bandirma;
    • 12,500 MT from Erser at 186.35 $/mt c&f Tekirdag;
  • April 25-May 13 shipment:
    • 50,000 MT from Cargill at 184.25 $/mt c&f Derince;
    • 25,000 MT from Dreyfus at 185.60 $/mt c&f Izmir;
    • 25,000 MT from VA Intertrade at 185.30 $/mt c&f Izmir;
    • 37,500 MT from Sodrugestvo at 179.80 $/mt c&f Bandirma;
    • 12,500 MT from Erser at 187.20 $/mt c&f Bandirma;
    • 12,500 MT from Sodrugestvo at 185.20 $/mt c&f Samsun

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

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

- March 12 - South Korea's Nonghyup Feed Inc. (NOFI) bought 68,000 MT of optional-origin corn from Glencore at 189.49 $/mt c&f with an extra 1.25 $/mt surcharge for additional port unloading for October 5 arrival      

- South Korea's KOCOPIA in a deal last week bought 60,000 MT of optional-origin food-quality corn at 207.60 $/mt c&f including a surcharge for additional port unloading for May 10 arrival           

- Informa Economics projected US 2019 corn plantings at 91.771 million acres, up from its previous forecast of 91.591 million. They forecast 2019 corn production at 14.937 billion bushels based on a yield of 177.0 bu/acre

- Conab lifted its forecast of Brazil's 2018/19 corn crop to 92.808 MMT from 91.652 MMT in Feb (80.71 MMT last season) with second crop at 66.597 MMT (53.899 MMT in 2017/18). Conab expects Brazil to export 31 MMT of corn (24.767 MMT in 2017/18). Ending stocks are forecasted to decline to 14.13 MMT from 14.323 MT in 2017/18

- Ukraine’s Ag Min estimated early spring grain planting 11% done as of March 13. Ukrainian farmers planted 258,000 ha of spring crops, thereof 177,000 ha of barley (11% of plan) and 67,000 ha of peas (19% of plan)

- Ukraine exported 3.743 MMT of corn in Feb 2019, up 84.8% from last year (2.026 MMT in Feb 2018)

- Ukraine exported 8 TMT of barley in Feb 2019, down 87.7% on year (67 TMT in Feb 2018)

- UK corn imports rose in January to 388,606 MT (incl. 112,662 MT from Ukraine, 84,692 MT from Brazil and 78,245 MT from Canada) from 195,197 MT in December and up 123% from a year-ago. Britain’s Jul-Jan 2018/19 corn imports totalled 1.681 MMT vs. 1.192 MMT a year ago

- UK exported 112,875 MT of barley in January, up from 91,669 MT in December. Cumulative barley exports for 2018/19 totalled 518,055 MT compared to 779,490 MT in Jul-Jan 2017/18

- FranceAgriMer raised its forecast for French corn stocks at the end of the 2018/19 to 2.378 MMT from 2.169 MMT in Feb and vs. 2.549 MMT in 2017/18. France's 2018/19 corn exports are forecasted at 4.36 MMT down from 4.58 MMT in Feb and down vs. 5.316 MMT a year ago

- FranceAgriMer raised its forecast of France's 2018/19 barley ending stocks to 1.781 MMT from 1.532 MT in Feb (1.514 MMT in 2017/18). France's 2018/19 barley exports (without malt) is expected at 5.99 MMT (6.235 MMT – previous forecast) in line with a year ago (5.992 MMT in 2017/18)

SOYBEAN

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

- March 13 - South Korea's NOFI has purchased about 37,000 MT of feed ingredients:

  • 10,000 MT of Indian rapeseed meal at 242 $/mt c&f +1.75 $/mt surcharge for additional port unloading for May 25 arrival;
  • 8,000 MT of corn gluten feed from China at 169 $/mt c&f for April 15 arrival and 163.5 $/mt c&f for May 15 arrival;
  • 13,000 MT of palm kernel expellers from South East Asia at 115.8 $/mt c&f +1.75 $/mt surcharge for additional port unloading for April 20 and June 1 arrival;
  • 6,000 MT of copra meal from South East Asia at 196 $/mt c&f +1.5 $/mt surcharge for additional port unloading for June 1 arrival

- AgRural raised its forecast for Brazil's 2018/19 soybean crop by 400,000 MT to 112.9 MMT

- Conab cut forecast of Brazil's 2018/19 soy output by 1.885 MMT to 113.459 MMT, below the record previous crop of 119.282 MMT. Conab lowered its forecast of Brazil soybean exports by 1.5 MMT to 70 MMT of soybeans (83.605 MMT in 2017/18). Ending stocks are forecasted to fall to 605,400 MT from 746,300 MT in 2017/18

- Informa Economics projected US 2019 soybean plantings at 85.494 million acres, down from its Feb 14 forecast of 86.044 million acres. They forecast 2019 soybean production at 4.34 billion bushels based on a yield of 51.2 bu/acre

- Ukraine exported 8 TMT of rapeseed in Feb 2019, up 41.5% on year (6 TMT in Feb 2018)

- Ukraine exported 209 TMT of soybeans in Feb 2019, down 38.7% on year (341 TMT in Feb 2018)

- Ukraine exported 561 TMT of sunflower oil in Feb 2019, up 29.8% on year (432 TMT in Feb 2018)

- Malaysia will maintain its crude palm oil export tax at 0% in April 2019, the same rate as the previous month. Malaysia calculated a reference price of 2,056.04 MYR/mt for April