Russia Losing Grain To Drought

Reuters are carrying a story today saying that 3.2 million hectares of Russian grain crops have been lost to drought, up from 2 million hectares just a week ago.

That's quite a jump in just a week, and may explain the Russian Agriculture Ministry's low sounding estimate of a grain crop of only 85 MMT this year.

A state of emergency has been declared in three regions along the Volga River and southern Urals, the report says.

With a planted area this season of around 47 million hectares, the area described as 'lost' represents almost 7%, a not insignificant proportion.

Story here