December 15, 2010

Russian 2011 grain surplus may be 86 million tonnes

Russia may harvest an excess of 86 million tonnes of grains and resume exports in 2011, said an analyst from trader WJ Interagro.

"If weather conditions are favourable to some extent during sowing, or growth, or reaping, the grain harvest may be more than 86 million tonnes. This amount will absolutely let grain exports start," the analyst said.

Russia banned exports through July 1 after the country lost 38% of its grain crop in this year's drought, the worst in a half century.