Russia Grain Stockpiles Decline 29 Percent to 32.9 Million Tons
Russia, the third-biggest wheat exporter last season, had 32.9 million metric tons of grain stockpiles as of Nov. 1, down 29 percent from 46.3 million tons a year earlier, the Federal State Statistical Service said.
The stocks figure includes big agricultural producers with 19.3 million tons, down from 28.4 million tons a year earlier, and procurement and milling companies with 13.6 million tons, down from 17.9 million tons, the service known as Rosstat said in an e-mailed statement today.
Procurement firms and millers had about 9.3 million tons of wheat stocks, of which 7.6 million tons is of milling quality, Rosstat said. That’s down from about 13.3 million tons of the grain, including 10.5 million tons of milling wheat, a year earlier.
Most of the stocks, about 8.4 million tons, are held in the Central federal district, which is 6.8 percent less than a year earlier, according to the statistics service. About 7.7 million tons are in Volga, or nearly 33 percent less than a year earlier. Inventories in the Southern federal district fell about 37 percent to 5.7 million tons. The North-Caucasus federal district had about 2.1 million tons, or 50 percent. The Southern and North-Caucasus districts are the closest to Russia’s main exporting routes,
Rosstat’s figures don’t include small, private farm or household reserves.
Wheat for March delivery little changed at $8.5875 a bushel on the Chicago Board of Trade by 3:31 p.m. Moscow time. It’s advanced 32 percent this year.
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