Russia: Grain and Feed Update
FAS/Moscow increased its forecast of Russia’s total grain crop in Marketing Year (MY) 2015/16 by three million metric tons (MMT) to 118.0 MMT. The forecasted crop includes 72.5 MMT of wheat, 17.5 MMT of barley, 14.5 MMT of corn (1.0 MMT lower than the official USDA forecast), and almost 13.5 MMT of other grains and pulses. The forecast is based on the Russian State Statistical Service’s (Rosstat) preliminary crop production data. FAS/Moscow forecasts grain exports at 39 MMT, including 29.0 MMT of wheat (including wheat flour in grain equivalent), 3.5 MMT of barley, 5.3 MMT of corn and approximately 1.2 MMT of other grains, pulses and grain products. FAS/Moscow’s forecast of exports of wheat and corn match the official USDA forecast, while FAS/Moscow’s barley exports forecast is 0.5 MMT lower than the official USDA forecast. Despite decreasing world market prices of wheat, and appreciation of the Ruble, Russian exports are supported by a good crop.
