Russia Latest

Posted by Nogger - a legend in his own mind at 11:32 | Categorized as

10/11/11 -- Russia has exported 13.3 MMT of grains so far this marketing year (Jul11/Jun12) and expects shipments to reach 17 MMT by the end of 2011, according to the Deputy Prime Minister Viktor Zubkov.

That would suggest them reaching their self-imposed 24 MMT export ceiling around mid-March if they are able to maintain that pace across the worst of the winter (assuming we get one).

Kazakhstan and Ukraine will be only too happy to fill the void I'm sure.

Meanwhile yesterday's USDA numbers had Russia exporting 19 MMT of wheat, 0.6 MMT of corn and 1.6 MMT of barley in 2011/12. That only adds up to 21.2 MMT, suggesting that there is room yet for some upward revision on all three.

It looks like wheat exports of 21 MMT might be nearer the mark.

Meanwhile "Heavy planting rains in Russia winter wheat have been a blessing and a curse, preventing growers from getting all their wheat sown but promoting favourable development," say Martell Crop Projections.

"The United States attaché in Moscow claims higher fertilizer applications may boost yields in winter grains this season," they add.