Russia’s Wheat Exports Reached 1.2 Million Tons in October

Russia, the world’s third-largest wheat exporter last season, shipped almost 1.2 million metric tons of the cereal in the first 24 days of October, the Agriculture Ministry said.

Total grain exports reached almost 1.8 million tons in the period, including 277,200 tons of barley, 257,100 tons of corn and 57,800 tons of other grains, the ministry’s press service said in an e-mailed statement today.

Grain exports for the season, which started July 1, reached 9.8 million tons, the ministry said.

Russia’s crops have been seared by drought this year. Farmers harvested 72 million tons of grain before drying and cleaning from 98 percent of the sown area as of Oct. 23, down 24 percent from a year earlier, according to the statement.

Yields fell 19 percent to 1.88 tons a hectare (2.47 acres) compared with a year earlier, it said.

Grain stocks dropped about 27 percent to 35.8 million tons as of Oct. 1 compared with a year earlier and are almost 14 percent down from the same date in 2010, it said.

Wheat for December delivery was down 0.3 percent at $8.555 a bushel on the Chicago Board of Trade by 8:50 p.m. Moscow time. The price has advanced 31 percent this year.

To contact the reporter on this story: Marina Sysoyeva in Moscow at msysoyeva@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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