Russian Winterkill

The Russian State Statistics Service, or Rosstat, say that 10.8% of winter grains perished due to the harsh winter there. That's somewhat lower than the Ag Ministry estimate of 13.8%, but certainly towards the upper end of what would be considered normal.

Additionally, Russian losses have been quite light in the past few years. Rosstat say that only 1.5% of winter grains were lost to winterkill last season.

Winter wheat typically accounts for around 80% of all winter sown grains, and accounts for something like 70% of the national wheat crop.

Meanwhile, spring grain planting progress (excluding corn) is behind last years pace at 15.9% done as of May 1st at 6.6 million ha, according to Rosstat.