WHEAT

- May 29 - South Korea's Feed Leaders Committee (FLC) in a private deal purchased about 60,000 MT of optional-origin feed wheat from Glencore at 216 $/mt c&f + 1 $/mt surcharge for additional port unloading for Nov 5 arrival

- Weekly US wheat export sales data for week ended May 23 totaled 564,800 MT, incl. 153,000 MT for 2018/19, within expectations (50-250 TMT) and 411,800 MT for 2019/20, topped expectations (150-350 TMT). Export commitments for 2018/19 are running 9% ahead of year-ago

- Brazilian mills will buy at least 5.5 MMT of wheat from Argentina in 2020 and 2.25 MMT between June and November this year

- Iraq has bought 2.2 MMT of domestic wheat so far from local farmers in this year's harvest

- Morocco plans measures to promote the use of domestic wheat by local millers instead of imports. By mid-April, Morocco's soft wheat reserves were estimated at 1.77 MMT, covering 4-1/2 months of the needs of local industrial mills. Morocco's cereals production is expected to total 6.1 MMT in 2019 (incl. 3.5 MMT of soft wheat, 1.35 MMT of durum wheat and 1.25 MMT of barley), down 40.7% from last year due to a lack of rainfall. Last year, Morocco imported 2.6 MMT of soft wheat, 0.9 MMT of durum and 0.41 MMT of barley

- FranceAgriMer estimated 79% of French soft wheat crops were in good/excellent condition by May 27, unchanged from week earlier and vs. 80% a year ago

- International Grains Council (IGC) raised its forecast for global wheat production in 2019/20 by 4.3 MMT to 765.8 MMT (733.1 MMT in 2018/19). Forecast of ending stocks was upped by 2 MMT to 276 MMT (262.7 MMT in 2018/19)

- Britain's farm ministry announced downward revisions to its estimate of 2018 UK wheat production to 13.555 MMT from 13.953 MMT previously (14.837 MMT in 2017)

CORN

- May 29 - South Korea's Feed Leaders Committee (FLC) in a private deal purchased about 60,000 MT of optional-origin corn from Cofco at 213.99 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for Nov 10 arrival

- Weekly US corn export sales data for week ended May 23 totaled 983,300 MT, incl. 906,800 MT for 2018/19 topped expectations (350-650 TMT). Export commitments for 2018/19 are running 11% behind of year-ago

- Tanzania will export 700,000 MT of maize to drought-hit Zimbabwe

- Ukraine's Ag Min said Ukraine exported about 46.68 MMT of grain between July 1-May 31, 2018/19 vs. 36.77 MMT for the same period of last season, including 15.05 MMT of wheat (16.21 MMT a year ago), 27.35 MMT of corn (16.17 MMT) and 3.53 MMT of barley (4.19 MMT)

- Ukrainian farmers have sown 4.6 million ha of corn or 99.8% of planned area as of May 31

- FranceAgriMer estimated corn planting 99% done as of May 27 (97% a week-ago), vs. last year’s pace of 98%. Corn crop condition was estimated as 81% in good to excellent, down 2% points on the prior week and vs. the year-ago score of 84%

- FranceAgriMer estimated 76% of French winter barley crops were in good/excellent condition by May 27, up 1% point from prior week and vs. 75% a year ago. Spring barley rating was at 88% in good to excellent vs. 88% last week and vs. 77% a year ago

- IGC cut its forecast of the global corn crop in 2019/20 by 6.6 MMT to 1.118 billion tones (1.126 BMT in 2018/19), mostly reflecting downward revise this month for the US (from 371.2 to 362.4 MMT). IGC upped its forecast for 2019/20 global corn carryover by 9.6 MMT to 284.3 MMT, still sharply down vs. 317.5 MMT in 2018/19

SOYBEAN

- May 29 - South Korea's Feed Leaders Committee (FLC) in a private deal purchased about 60,000 MT of soymeal from Cargill at 382.5 $/mt c&f including the surcharge for additional port unloading for Nov 15 arrival

- Weekly US soybeans export sales data for week ended May 23 totaled 477,800 MT, incl. 455,800 MT for 2018/19, topped expectations (250-450 TMT). Export commitments for 2018/19 are running 17% behind of year-ago

- Weekly US soymeal export sales data for week ended May 23 of 248,800 MT, incl. 183,800 MT for 2018/19, within expectations (100-250 TMT). Export commitments for 2018/19 are running in line with a year-ago

- IGC lowered its forecast of the soybean production in 2019/20 by 3 MMT to 357.8 MMT (362.7 MMT in 2018/19). IGC cut its forecast for 2019/20 global soybean carryover by 2.9 MMT to 52.9 MMT (53.9 MMT in 2018/19)

- China has agreed to take about 200,000 MT of palm oil from Malaysia in a barter deal

- Surveyor AmSpec Agri Malaysia estimated Malaysia's May 1-31 palm oil exports at 1,688,422 MT up 7.1% from a month ago

- Surveyor SGS estimated Malaysia's May 1-31 palm oil exports at 1,688,104 MT up 6.5% from a month ago

- Ukrainian farmers have sown 5.6 million ha of sunflower or 98% of planned area as of May 31

- Ukrainian farmers have sown 1.5 million ha of soybeans or 81% of planned area as of May 31

- Strategie Grains cut its forecast of the EU's 2019/20 rapeseed production to 17.8 MMT from 18.85 MMT previously, down 11% from an estimated 20 MMT in 2018/19. They increased its forecast for EU rapeseed imports in 2019/20 by 0.3 MMT to 5.4 MMT (4.1 MMT expected in 2018/19)

- Britain's farm ministry announced downward revisions to its estimate of 2018 UK rapeseed production to 2.012 MMT from 2.074 MMT previously (2.167 MMT in 2017)