Russian corn harvest to hit record as soybeans drop

Minister of Agriculture confirmed that this year the country will collect about 90 mln tonnes which is a quarter more than last year. “Taking this into account the carryover this volume will be enough to fully meet the domestic demand for grain and to export 20 million tonnes” – said Fyodorov.

He also added that soybean harvest in 2013 by contrast will be lower than last year by about 20%. This sharp decline will be mostly because of the flooding in the Far East of Russia this year.

Also according to the report of the Russian Grain Union in the period of July-September of this year harvesting and processing organisations in Russia processed more than two million tonnes of grain to compound feed production, which is 9.3% higher compared the level of the last year.

“Wheat consistently ranked first place in the structure of compound feed consumption – 1.31 million tonnes (+5.1 % on year-to-year comparison). Compared with the previous year in absolute terms increased the consumption of barley (92,300 tonnes), and while in percentage increased the consumption of corn (52.8 %)”.