- FAO currently forecasts global wheat production in 2015 at 723 MMT, up 4 MMT from May but down 0.8% (6 MMT) from the previous year's record

- FAO Food Price Index declined again in May, hitting an almost six-year low as cereal prices fell substantially amid a favourable outlook for this year's harvests

- Informa Economics cut its forecast for the US 2015 winter wheat harvest to 1.481 billion bushels (40,306 MMT) from 1.486 billion bushels (40,442 MMT)

- Farmers in Africa and East Asia are expected to suffer crop losses as extreme weather linked to the El Nino phenomenon alters rainfall patterns

- Russia's Ag Min said farmers planted 12.2 MH of spring wheat through June 3, or 92.8% of the planned total planted area vs. 12.4 MH a year ago