Russian/Ukraine Latest

11/07/11 -- SovEcon have raised their Russian grain production estimate for this season to 87-92 MMT from 82-86 MMT. Rains in June and early July appear to have boosted production potential although they may also have caused a few quality issues too.

In Ukraine they've cut 3.8 MMT of winter grains so far with yields up 16% on last season. Wheat yields are averaging 3.22 MT/ha with barley yields coming in at 2.79 MT/ha, according to the Ministry.

Our man on the ground over there, Mike Lee, reports that recent rains have "really pushed the maize along and many crops are evening up and filling out. Are we about to see a bumper 2011 crop? Tempting to say yes but we still have a long way to go."