Russian Grain Harvest 107-108MMT - RGU

According to the Russian Grain Union, the net grain yield is to amount to 107-108mn tons in 2008.

Grain carry-over stocks are expected at the level of 22mn tons as of 1 July 2009.

Currently the price for grain in the country have decreased by around 70-80% from the highs of 2007, it says.

Class three milling wheat is worth about RUR 5,700 (US$ 243.00) per tonne (from RUR 8,700 in January 2008). Feed grain is worth around RUR 3,200 (US$136.50) per tonne (from RUR 7,800), it says.