- USDA said 71% of the US soybean crop was planted as of May 31, below expectations for 75% complete, just above five-year average pace (70%), but below last year's (75%)

- US soybean export inspections for week, ending May 28, reported 73,190 MT, below trade estimates and the lowest since last September

- AgRural says Brazilian farmers have sold 68% of their old crop soybeans compared to 75% last year at this time and 6% of their new crop beans against 2% a year ago

- Brazil's soy industry group Abiove raised its 2014/15 soybean crop estimate by 370,000 MT to 93.06 MMT. Abiove also raised its estimate for final stocks to 5.6 MMT rather than 5.2 MMT and held its forecast for 48 MMT of exports

- Safras & Mercado raised its estimate for 2014/15 Brazilian crop to 95.5 MMT from 94.4 MMT previously

- Soybeans had rallied following the EPA's (U.S. Environmental Protection Agency) increased target for biodiesel use, for which soyoil is a key feedstock. EPA proposals for biodiesel targets were increased from the original 1.28 billion gallons to 1.63, 1.7, 1.8 and 1.9 billion gallons, for years 2014 (retroactive) through 2017 respectively

- Russia's Ag Min said farmers planted 1.6 MH of soybean through June 1, or 77.2% of the planned total planted area vs. 1.4 MH a year ago

- Russia's Ag Min said farmers planted 6.4 MH of sunflower through June 1, or 97.3% of the planned total planted area vs. 6.6 MH a year ago

- Surveyor Intertek Testing Services estimated Malaysia's May palm oil exports at 1.553 MMT up 45% from a month ago

- Surveyor SGS estimated Malaysia's May palm oil exports at 1.551 MMT up 44% from a month ago

- Canola Council of Canada official said frost in the Canadian Prairie province of Manitoba on Friday and into Saturday morning was "severe", wiping out many canola fields