Russian Farm Ministry Cuts Grain Export Target, Shuns Curbs
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Russia, the third-biggest wheat exporter last season, cut the upper band of a September target for grain shipments by 29 percent to 10 million metric tons, while the government maintained there’s no need to curb exports.
The country’s grain shipments exceeded 8 million tons from July 1 and are expected to increase by about 2 million tons, Agriculture Minister Nikolai Fedorov told reporters in Moscow today. The ministry estimated exports at 10 to 14 million tons on Sept. 19, and Deputy Prime Minister Arkady Dvorkovich forecast shipments of as much as 12 million tons on Aug. 8.