Russian Drought Latest

Interesting reading here today on Bloomberg: Russia Drought Hurts More Than Half of Grains in Stricken Areas

If they hadn't been so quick to cry wolf last year also, then maybe we'd have been more inclined to believe them this time round.

The difference this time is that respected private firms like SovEcon are also slashing their production estimates on a weekly basis too.

"The grain crop in Tatarstan will come to about 1 million tons this year, down from an average 4.5 million to 5 million tons," say Bloomberg.

I'm no expert, but erm that sounds like 75-80% down doesn't it?

For a recent picture of Russian wheat check out this posting from Ukraine agronomist Mike Lee: Central European Russian wheat