WHEAT

- Weekly US wheat export sales data for week ended May 30 totaled 475,900 MT, incl. net cancellation of 26,000 MT for 2018/19, within expectations (-100-+200 TMT) and 501,900 MT for 2019/20, topped expectations (100-400 TMT). Export commitments for 2018/19 are running 9% ahead of year-ago

- Informa Economics estimated total US wheat plantings for 2019 at 45.084 million acres and all-wheat production at 1.911 billion bushels

- Tunisia expects its grain harvest to jump by about 42% to more than 2 MMT this year, up from about 1.4 MMT in 2018

- Egypt has so far bought 3.15 MMT of wheat from farmers. Egypt expects to procure about 3.6 MMT of wheat from its farmers during the current season, which began on April 15 and lasts until the end of June

- Egypt has strategic reserves of wheat sufficient for five months

- Iraq has bought about 2.5 MMT of domestic wheat so far from local farmers in this year's harvest

- EU in week ended May 31 awarded licenses to import 293,686 MT of Ukrainian wheat under an annual duty-free quota.  The award meant that the EU had now awarded 100% out of a total volume of 1,045,000 MT available in 2019

- FranceAgriMer estimated 80% of French soft wheat crops were in good/excellent condition by June 3, up 1% point from week earlier and vs. 79% a year ago

- Germany's association of farm cooperatives upped its forecast of country’s 2019 wheat crop to 24.7 MMT from 24.28 MMT in May, a 21.9% increase from last year

- FAO raised forecast of world wheat output in 2019 by 2.5 MMT to 769.5 MMT (730.4 MMT in 2018) on better prospects in the EU and Canada more than offsetting downward adjustments in Australia and Turkey. Stocks (ending in 2020) projected to increase to a near-record level 280.8 MMT, up 2.8 MMT from previous forecast (268.4 MMT in 2018/19)

- Russian state-controlled bank VTB, which has been actively buying grain export infrastructure assets, has acquired a large local grain trader Mirogroup resources. Also VTB was discussing the acquisition of a 50% stake in Taman grain terminal from Ukraine's agricultural firm Kernel

CORN

- June 5 - Taiwan's MFIG bought 65,000 MT of Brazil corn from Cargill at a premium of 86.1 USc/bushel c&f over the Chicago December contract (204.6 $/mt, c&f) for Aug-Sept shipment

- June 4 - South Korea's Feed Leaders Committee (FLC) in a private deal purchased about 65,000 MT of South American corn from Cofco at 211.9 $/mt c&f + 1.25 $/mt surcharge for additional port unloading for Aug 15-Sept 15 shipment

- Weekly US corn export sales data for week ended May 30 totaled 14,700 MT, incl. net cancellation of 8,800 MT for 2018/19 well below expectations (500-800 TMT). Export commitments for 2018/19 are running 13% behind of year-ago

- Informa Economics projected US 2019 corn plantings at 84.942 million acres and corn production at 13.555 billion bushels based on a yield of 174.0 bu/acre

- FranceAgriMer estimated corn planting 100% done as of June 3 (99% a week-ago), vs. last year’s pace of 98%. Corn crop condition was estimated as 82% in good to excellent, up 1% point on the prior week and vs. the year-ago score of 77%

- FranceAgriMer estimated 74% of French winter barley crops were in good/excellent condition by June 3, down 2% points 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. 78% a year ago

- Germany's association of farm cooperatives raised its forecast of country’s 2019 corn crop to 4.38 MMT (4.35 MMT previously), a 31.2% increase from last year

- Germany's association of farm cooperatives forecasted the country’s 2019 winter barley crop at 9.99 MMT (9.78 MMT – previous forecast in May), up 35.5% from last year; and spring barley crop at 2.14 MMT (2.11 MMT – previous forecast), down 2.8% from 2018

- FAO cut forecast of world maize production in 2019 by 38 MMT to 1,102 MMT, largely on expectation of a sharp fall in plantings and hence production in the US, now projected at 330 MMT, down 45 MMT m/m and 36 MMT y/y. Stocks (ending in 2019) cut significantly, by 22 MMT to 310.1 MMT (352.4 MMT in 2018/19), with most of the decrease in the US where stocks could drop to a seven-year low of 28 MMT

SOYBEAN

- Jun 7 - USDA announced export sales of 110,000 MT of US soybeans for delivery to Egypt during 2018/19 (55 TMT) and 2019/20 (55 TMT)

- Weekly US soybeans export sales data for week ended May 30 totaled 583,700 MT, incl. 510,000 MT for 2018/19, topped expectations (200-500 TMT). Export commitments for 2018/19 are running 16% behind of year-ago

- Weekly US soymeal export sales data for week ended May 30 of 112,900 MT, incl. 110,800 MT for 2018/19, within expectations (100-250 TMT). Export commitments for 2018/19 are running in line with a year-ago

- Informa Economics projected US 2019 soybean plantings at 85.037 million acres and corn production at 4.313 billion bushels based on a yield of 51.1 bu/acre

- FAO expects world soybean production in 2019 to decline slightly to 361.3 MMT from the 2018/19 all-time record of 365.6 MMT. Global inventories (2019/20 carry-out) forecast to drop slightly to 59.9 MMT from their record opening level of 61.1 MMT, with US stocks remaining at their historic peak and replenishments in Brazil offsetting drawdowns in several countries

- China imported 7.36 MMT of soybeans in May, down 24% from the year before. For the first five months of 2019, imports fell to 31.75 MMT, down 12.2% from the same time a year ago

- China's imports of all vegetable oils in May was 708,000 MT up 17.2% on year. China's Jan-May vegetable oil imports climbed 42.2% on year to 3.189 MMT

- Germany's association of farm cooperatives raised Germany's 2019 winter rapeseed output forecast from 3.04 to 3.07 MMT this month, down 16.3% from 2018

- Indian Apr-May 2019 soybean meal exports are estimated at 59,299 MT vs. 144,290 MT during the same period of last season

- Indian Apr-May 2019 rapeseed meal exports are estimated at 140,149 MT vs. 231,807 MT during the same period of last season

- Surveyor AmSpec Agri Malaysia estimated Malaysia's June 1-10 palm oil exports at 376,802 MT down 31.6% from a month ago