U.S. Department of Agriculture lowers grain production forecast in Russia for this year
MOSCOW. Nov 11 (Interfax) - The United States Department of Agriculture said in its November report, which was published on Tuesday, that it lowered the grain harvest forecast in Russia for this year.
According to the report, some 60.5 million tonnes of wheat will be produced against 61 million tonnes in the October report. The estimate for coarse grain harvests decreased to 39 million tonnes from 39.8 million tonnes in October.
The forecast for wheat exports did not change and is still at 23.5 million tonnes, with the estimate for coarse grain exports lowered to 7.81 million tonnes from 8.61 million tonnes in October.
The U.S. Department of Agriculture also preserved forecasts for carryover stock levels of grain for July 1, 2016, at its previous level of 7.13 million tonnes, and coarse grains at 2.29 million tonnes.
