Additional News From The Grain Floor

Malaysian palm oil up 41

 

Flash June mfg PMIs

  • Eurozone at 51.9 expecting 52.1 vs. May final of 52.2
  • France at 47.8 expecting 49.5 vs. May final of 49.6
  • German at 52.4 as expected vs. May final of 52.3

 

Oil World estimates

  • Said India imported 5.1 MMT of palm oil between Oct 2013-May 2014 vs. 5.9 MMT a year ago
  • Estimated ‘14/15 global bean output at 301.9 MMT vs. previous estimate of 301.2 MMT and vs. 284.1 MMT a year ago
  • Estimated ‘14/15 global sunseed output at 40.6 MMT vs. previous estimate of 40.5 MMT and vs. 42.0 MMT a year ago
    • Estimated ‘14/15 Argentina sunseed output at 2.8 MMT unchanged from previous estimate and vs. 2.1 MMT a year ago
    • Estimated ‘14/15 Ukraine sunseed output at 10.3 MMT unchanged from previous estimate and vs. 10.8 MMT a year ago
  • Estimated ‘14/15 global rapeseed output at 68.6 MMT vs. previous estimate of 68.3 MMT and vs. 69.7 MMT a year ago
  • Estimated 2014 EU rapeseed output at 22.4 MMT vs. previous estimate of 21.9 MMT and vs. 21.2 MMT in 2013
  • Estimated 2014 Germany rapeseed output at 5.9 MMT vs. previous estimate of 5.7 MMT and vs. 5.8 MMT in 2013
  • Estimated 2014 France rapeseed crop at 5.3 MMT vs. previous estimate of 5.2 MMT and vs. 4.4 MMT a year ago

 

Coceral EU28 estimates

  • 2014 soft wheat estimated at 141.9 MMT vs. previous estimate of 135.9 MMT and vs. 2013 crop of 136.3 MMT
  • 2014 barley crop estimated at 55.9 MMT vs. previous estimate of 55.3 MMT and vs. 59.4 MMT in 2013
  • 2014 corn crop estimated at 64.6 MMT vs. previous estimate of 63.7 MMT and vs. 63.2 MMT in 2013
  • Rapeseed crop estimated at 22.8 MMT vs. previous estimate of 21.1 MMT and vs. 20.6 MMT in 2013

 

Pakistan bought 55,000 tons of Black Sea origin wheat for Aug-Sept shipment

 

Morocco bought 163,500 tons of soft wheat domestically

 

Iran bought 20,000 tons of barley from India for July shipment

 

Ag Canada estimated ‘14/15 Canada all wheat crop at 29.6 MMT vs. previous estimate of 29.3 MMT  and vs. ‘13/14 crop of 37.5 MMT

 

For the week ending June 18th Canada’s crushers crushed 112,195 tons of canola down 2.1% from a week ago

 

For the week ending June 18th Canada’s crushers crushed 14,937 tons of soybeans down 13.8% from a week ago

 

Alberta, Canada farmers said 79% of spring wheat , 78% of durum wheat, 71% of canola , are in good to excellent condition

 

Alberta farmers said warm weather is needed to advance crop development

 

German statistics office said Germany exported 13.4 MMT of grain between July 1st , 2013 – April 2014. Vs. 11.3 MMT a year ago

 

FranceAgriMer said as of June 16th 70% of France soft wheat crop is rated good to excellent down 2% from the week prior and vs. 69% a year ago

 

FranceAgriMer said as of June 16th 85% of France corn crop is rated good to excellent  down 3% from the week prior and vs. 56% a year ago

 

FranceAgriMer said as of June 16th 67% of France winter barley crop is rated good to excellent down 1% from the week prior and unchanged from a year ago . 66% of the spring barley crop is rated good to excellent down 1% from a week prior and vs. 71% a year ago.

 

Spain Ag Min estimated 2014 wheat crop (excluding durum) at 5.9 MMT vs. previous  estimate of 6.0 MMT and vs. 2013 crop of 6.7 MMT

 

Reuters poll – 2014 South African corn crop estimated at 13.58 MMT vs. previous estimate of 13.458 MMT

 

Estimated fund activity from Friday

  • Corn bought 7K
  • Beans bought 3K
  • Wheat sold 4K
  • Meal bought 3K
  • Bean oil sold 2K

 

Surveyors SGS and Intertek come out on Wednesday with their June 1-25th Malaysian palm oil export estimates

 

 

Data sources: DowJones , Bloomberg, Reuters , DTN news, barchart.com and CME Group, NYSE