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Russia Grain Forecast Lowered

06 September 2012
USDA Foreign Agricultural Service

RUSSIA - The FAS/Moscow forecast for Russia’s grain crop is lowered to 73 million metric tons (MMT), compared to 94 MMT for 2011 and 61 MMT in drought-impacted 2010. This total includes 41 MMT of wheat, 14 MMT of barley, 7.2 MMT of corn, and 11 MMT of other grains and pulses.

Lower production and tight stocks are reducing exportable supplies, but high global grain prices are stimulating Russian traders to export as much grain as they can early in the marketing year because of uncertainty about the market situation later in the year.

From the beginning of July through mid-August 2012, Russia has already exported over 3.3 MMT of grain, and industry specialists forecast continued large exports in the second half of August and in September.

The FAS/Moscow forecast for Russia’s grain exports is lowered to 11.5 MMT compared to the record 28.1 MMT in 2011/12.

This total includes 8 MMT of wheat 1.5 MMT of barley, 1.5 MMT of corn, and 0.5 MMT of other grains and pulses.

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