Russia Cuts Grain-Crop Forecast as Much as 5.9% on Drought
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Russia’s Agriculture Ministry cut its grain-crop forecast by as much as 5.9 percent because of a drought.
The national crop will come to 80 million to 85 million metric tons, the ministry said in a statement on its website today. Estimates are under constant revision, it said. Agriculture Minister Nikolai Fedorov yesterday reiterated a forecast for an 85 million-ton crop. Farmers have harvested more than 15.7 million tons of grain, including 13 million tons of wheat, the ministry said.