Russian Grain Markets: 16-22 May 2012 GRAINS AND PRODUCTS Planting Updates as of 16 May 2012

Grain Auction Updates as of 17 May 2012 As of 17 May, the total volume of grain purchased from the state commodity intervention fund was 1.73 MMT, including: Russian Grain Export Update According to Russian Deputy Ag Minister Ilya Shestakov, by the end of the current season, Russia will be able to export 0.8-1 MMT in addition to the 25 MMT exported as of 20 May. Earlier, the Russian Ministry of Agriculture predicted grain exports for the current season would reach 27 MMT. Meanwhile, corn exports in MY 2011/12 reached 1.6 MMT, a record volume, and may even reach 1.7 MMT by 1 July 2012. Market Update Last week the market was negatively aff...