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Russian Wheat Crop Estimate Lowered by Ikar to 58.5 Million Tons

Bloomberg, 14.10.14

Russia’s wheat crop will be no more than 58.5 million metric tons this season after the government cut its forecast for the harvested area, Ikar said.

The previous estimate on Sept. 4 was 60 million tons, according to company analyst Yevgeny Zaitsev. The Agriculture Ministry has since reduced the amount of land it expects to be harvested, by 710,000 hectares (1.7 million acres) for wheat to 24.6 million hectares, he said by phone from Moscow today.

Snow and rain will prevent farmers from collecting their crops in some Ural Mountain regions, according to Zaitsev.

Ikar also cut its estimates for the barley crop to 19.5 million tons from 20.2 tons and for corn to 11 million tons from 12.7 million tons, Zaitsev said. The ministry cut its estimate of harvested area for corn, wheat and barley by 1.1 million hectares, he said.

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