Russia Stuck With Record Wheat Stockpiles as Ruble Slows Exports
- Inventories at post-Soviet high; equal to half of U.S. output
- While exports disappointed, some grain reached new markets
This article is for subscribers only.
Russia is storing a record amount of wheat because the world’s biggest exporter can’t ship out its bumper crop fast enough.
The country’s stockpile increased by 22 percent from a year earlier to 33.8 million metric tons by Oct. 1, an all-time high for post-Soviet Russia, according Moscow-based consultant SovEcon. While farmers boosted production by a fifth this year, exports have remained little changed, lagging expectations.