Russia’s Wheat Harvest May Be 56 Million Tons, Grain Union Says

Russian farmers may harvest as much as 56 million metric tons of wheat this year, the country’s Grain Union President Arkady Zlochevsky said, a third more than in 2010.

The new grains harvest may reach as much as 90 million tons if favorable weather continues into July, he told journalists today in Moscow. The harvest was 60.9 million tons last year after drought damaged crops, according to the Federal State Statistics Service. The harvest will include between 52 million and 56 million tons of wheat, Zlochevsky said. The wheat harvest was 41.4 million tons last year, the statistics service said.

Russia will produce more feed grain in the new season because it sowed seeds of “not very good” quality this year, Zlochevsky said. Milling wheat has traditionally comprised between 67 percent and 68 percent of the harvest, and the share will drop to about 62 percent this year, he added.

Russia has the potential to export between 20 million and 25 million tons of grains. Still, between 15 million and 16 million tons may be exported as demand weakened after the country banned shipments last year following the drought, Zlochevsky said. The restrictions end tomorrow.

The barley harvest is estimated at between 15.5 million and 16 million tons, and the sunflower seeds harvest is expected to reach between 7.5 million and 8 million tons. Corn is seen at between 5 million and 6 million tons, he said.

Russia’s grain reserves are estimated at 21 million tons before the new marketing season that starts tomorrow, the Grain Union president said. Stockpiles exceeded 26 million tons a year earlier, he added.

Source: http://www.bloomberg.com/news/2011-06-30/russia-s-wheat-harvest-may-be-56-million-tons-grain-union-says.html