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-Brazilian soybean export pace remains exceptionally strong
-Malaysia eyes September for resumption of B20 rollout
-India resumes buying of Malaysian palm oil
-No USDA sales announcements
-U.S. crop planting remains mostly problem-free

 Brazilian trade data showed 8.8 MMT (323 million bushels) of soybeans were shipped in the first two weeks of May compared to 10.0 MMT shipped during the entire month of May last year and potentially setting up a challenge for setting another all-time monthly record following April’s 16.3 MMT, which shattered the previous monthly record of 12.4 MMT in May 2018.
ï‚· Malaysia is planning to restart the nationwide rollout of the B20 biodiesel blend mandate in September after postponing the program for two months due to lockdown measures to control the coronavirus outbreak. The move to a nationwide B20 blend is still expected to be complete by mid-June 2021.
 India has reportedly resumed buying Malaysian palm oil after a four-month stoppage, which was spurred by political disagreements between the two countries. Relations between the two have improved since Malaysia’s new government took office several months ago. It is believed Indian refiners bought around 200k tonnes of crude palm oil from Malaysia last week. The recent institution of a $5/tonne export tax on Indonesian palm oil to support their biodiesel blending initiatives leaves Malaysian oil at about a $15/tonne discount currently.
ï‚· There were no USDA sales announcements this morning.
 Yesterday afternoon’s Crop Progress update put U.S. corn planting at 80% complete, in line with general expectations, and remaining ahead of average of 71%, and increasing 13% on the week. IA and MN are 96% and 95% complete, respectively, while IL is 83% complete. The only states reporting delays are ND at 20% vs 60% avg, TN at 79% vs 91% avg, and PA at 15% vs 49% avg. IN, OH and MI saw strong weeks and are all ahead of average. Corn harvest of last year’s crop in ND continues at a snail’s pace, now 94% complete vs 93% a week ago. Nationwide corn emergence is at 43% vs 24% last week and 40% average. A strong increase in emergence rates should be seen over the next week or so with the warmup in temps.
 U.S. soybean planting advanced to 53% complete last week, a bit slower than average expectations of 56%, but up from 38% the previous week and remaining well ahead of average of 38%. All major corn belt states’ planting progress is well ahead of average (IA 86% vs 45% avg, MN 74% vs 51% avg, SD 40% vs 27% avg, NE 78% vs 42% avg, IL 59% vs 40% avg, IN 56% vs 32% avg), with the only delays of note being ND at 9% vs 35% avg and AR at 47% vs 57% avg. Nationwide emergence is at 18% vs 7% last week and 12% avg.
 U.S. spring wheat planting is now 60% complete, in line with expectations, up from the previous week’s 43%, but remaining well behind average of 80% and even last year’s 63%. ND made decent gains last week to 41% complete from 27% the week prior, but remains well behind average of 76%. MN is 70% complete vs 86% average, while the other four major spring wheat states (SD, MT, ID, WA) are at or ahead of average.
 U.S. winter wheat conditions declined 1% in good/excellent last week to 52% (53% expected) and compares to last year’s crop at this time at 66% g/e. Based on our state acreage-weighted calculations, HRW conditions declined 1% g/e to 49% (68% last year), SRW declined 2% g/e to 65% (51% last year) and winter white wheat conditions improved 4% g/e to 68% (67% last year). Overall winter wheat conditions are right in line with the 5-year average for mid-May.
Weather
Rain totals yesterday were heaviest across MI, OH and eastern IN where 1-2†were common. Totals elsewhere were generally under .35â€. Conditions were dry west of the MS River. The current system will finish up the southern ½ of OH today, with an additional 1-2†there. The rest of the corn belt will be mostly dry today with everywhere dry through Friday. Light .25-.75†amounts are possible west of the MS River Saturday, with a more organized system Sunday into Monday with early estimates running in the .60-1.2†range, with the GFS indicating coverage of around 95% and no bias. The European indicates lesser amounts of .25-.75†for southern IL, IN and OH, as well as most of MN.

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