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Black Sea grain update

Russia
SovEcon Ltd, an independent agricultural research organisation forecast Russia's 2008/09 wheat production at 52.5-54.2Mt (USDA 54Mt) compared to last year's production of 49.4Mt. SovEcon's estimate is the highest since 1978, when Russia harvested 63.9Mt. The increase on last year is fuelled by an increase of planted area and ideal weather conditions. However, the current temperatures below average and regular rains have delayed the harvest. About 1.37Mha of grain was harvested in Russia as at the July 15 compared to 3.42Mha same time a year ago.

Ukraine
APK-Inform, an agricultural consultancy based in the Ukraine revised on July 17 its 2008/09 Ukraine grain production estimate up by 2.3Mt to 42Mt, while UkrAgroConsult, another Ukrainian agricultural consultancy forecasts Ukraine's total cereal production at 43Mt.

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