Lots with May delivery are being bought now. Corn is being delivered from South America, the USA and Eastern Europe.

South Korea will import 4.6 mln tons of wheat in 2016 - 2017 (-0.5 mln tons upon the previous forecast). The government has decided to alot 470,000 tons of rice to fodder. At the beginning of January, South Korean importers contracted the import of 1.5 mln tons of wheat fodder. Milling wheat import remains unchanged at 2.6 mln tons.

French Ministrry of Agriculture projected slightly lower domestic winter wheat sowing areas for the 2017 yield. 73.63 mln decares of winter crops have been sowed (-0.6% upon last year and +4.5% higher than the average 5-year level). Soft wheat areas are 51.6 mln decares (51.91 mln decares in the previous forecast, unchanged upon the previous season and +2.9% upon the average 5-year level). Hard wheat areas are 3.60 mln decares (3.62, -4.6% and +5.1%). Winter barley areas are 14.31 mln decares (13.78, -1.5% and +15.4%). Rapeseed areas are 14.37 mln decares (14.37, -7.1% and -5.3%).

Strategie Grains projected decreased rapeseed production in the EU countries in 2016 – 2017, down 500,000 tons to 21.56 mln tons. Soybean production is 2.51 mln tons (2.50) while sunflower production is 8.60 mln tons (8.54).

Saudi Arabia purchased 1.5 mln tons of barley from the EU, South America, Australia and Argentina to be delivered between March 15 and May 15, 2017.

6.7 mln decares of corn less than 2016 will be sowed in China in 2017. Corn areas in the country were 370 mln decares in 2015 (+61% upon 2001). Thus, corn yield will be down 4% to 215 mln tons while import will be down by 70% to 1 mln tons.