Russia Set To Increase '08 Grain Output Estimate

Well, we didn't see that one coming did we? As mentioned on here recently the figures coming out of Russia didn't add up. Just like the Ukraine crop this is one that's going to keep getting bigger methinks. This is translated from Russian so excuse the slight pigeon English. This won't be the last of the increases you mark my words....

Ministry of Agriculture of Russia will increase grains and grain legumes croppage forecast after August 20 this year.

Earlier Ministry forecasted 85 mln tonnes of grains crop, but now forecast will grow, declared Aleksey Gordeev, Minister of Agriculture, on August, 8.

New grains forecast of Ministry of Agriculture will total 88-90 mln tonnes, reported market participants, but officials haven't confirmed the figures yet.