Thursday, August 22, 2013

USDA lowered its forecast for soybean crops in Russia up to 1.5-1.6 million tons

USDA lowered its forecast for soybean crops in Russia up to 1.5-1.6 million tons
Prime. Flooding in the Far East had a negative impact on the yield of soybean forecast which was reduced from 1.9 million tons to 1.5-1.6 million tons, said Agriculture Minister Nikolai Fyodorov.
According to Russian hydromet, today flood peak in Amur region practically passed, but it is shifted to the Jewish Autonomous Oblast and Khabarovsk Krai. Reported by Agriculture Ministry on Tuesday, crops were killed on 674.7 thousand hectares. damage caused to agricultural producers in the region, estimated at 8.6 billion rubles.
"We lower total yield forecast for soybeans from 1.9 million tons to 1.5-1.6 million tons. Likely to be 1.5 million tons," - said Fedorov. forecast Reduction, according to him, due to the fact that the largest suppliers of soybeans are located in Amur region that was affected by floods.

For grains in general, Agriculture Ministry forecast remains the same (90 million tons), Fedorov said.

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