Germany

German wheat production is set to fall to a 10-year low, with the recent spell of hot weather across Europe negatively impacting crop yields. German wheat production for 2018 is now pegged at 21.5m tonnes, which would be 12% down on last year.

China

The USDA has forecast that US soya bean exports for 2018/19 will fall 11% year on year to 55.5m tonnes, primarily as a result of falling market share in China after the Chinese government applied 25% tariffs on US soya beans.

Argentina

Argentinian milk production for the first five months of 2018 (Jan-May) stood at just over 3.7bn litres, which is almost 8% ahead of the same period last year. If milk production continues to expand at this pace, Argentina could see its annual milk supply break 10bn litres for the first time since 2015.

United States

The USDA has increased its forecast for US maize (corn) production in the 2018/19 season by almost 5m tonnes to hit 361.5m tonnes. This would still be short of the 371m tonnes produced in 2017 and the record 385m tonnes produced in 2016.