Russia’s Grain Inventories Decline 29% to 25.3 Million Tons

Grain stockpiles in Russia, last season’s third-biggest wheat exporter, fell 29 percent from a year earlier as of Jan. 1, government statistics showed.

Inventories were 25.3 million metric tons, against 35.9 million tons a year earlier, the Moscow-based Federal State Statistics Service said today in an e-mailed statement. Leading agricultural producers held stockpiles of 13.4 million tons, while procurement and milling companies had 11.9 million tons, compared with respective year-earlier levels of 19.6 million tons and 16.3 million tons.

Procurement firms and millers had about 7.8 million tons of stockpiled wheat, of which 6.3 million tons was of milling quality, said Rosstat, as the service is known. That was down from about 12 million tons a year earlier, including 9.5 million tons of milling wheat.

Inventories fell 6.1 percent from a year earlier to about 6.7 million tons in the Central Federal District and slid almost 35 percent to about 6.2 million tons in the Volga Federal District. Stockpiles dropped about 37 percent to 3.6 million tons in the Southern Federal District and plunged about 48 percent to 1.3 million tons in the North Caucasus Federal Ddistrict, which are the closest to Russia’s main export routes.

Rosstat’s figures exclude small private farms and household reserves.

Wheat for March delivery fell 0.2 percent to $7.6675 a bushel on the Chicago Board of Trade at 3:03 p.m. Moscow time.

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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