Russian Grain Stockpiles Seen Dropping 12% to 16.8 Million Tons

Russian grain stockpiles at large agricultural holdings, procuring companies and millers fell 12 percent from a year earlier to 16.8 million metric tons as of June 1, government figures showed.

Inventories held by the biggest farm producers rose 5.9 percent to 6.4 million tons, the Federal State Statistics Service said in an e-mailed statement today. Stocks at procuring companies and millers declined 20 percent to 10.4 million tons, said Rosstat, as the service is known.

Grains held at procuring companies and millers included 7.8 million tons of wheat, with milling wheat accounting for 81 percent, Rosstat said. Stocks also included 1 million tons of barley, 624,000 tons of rye, 475,000 tons of corn, 125,000 tons of oats, 110,000 tons of rice, 47,000 tons of buckwheat and 38,000 tons of millet, the figures showed.

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