Grain stockpiles in Russia, last season’s third-biggest wheat exporter, fell 34 percent in the past year as of June 1.
Inventories held by big farms, procurement and milling companies fell to 11 million metric tons from 16.8 million tons a year earlier, the Moscow-based Federal State Statistics Service said today in an e-mailed statement. Large agricultural producers held 4.5 million tons, compared with 6.4 million tons, while procurement and milling companies had 6.5 million tons, down from 10.4 million tons, it said.
Procurement and milling companies had about 4.5 million tons of wheat stockpiles, down from 7.8 million tons a year earlier, according to the statement. The total of milling wheat fell to 3.6 million tons from 6.3 million tons.
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