Russian Grain Markets: 26 June – 2 July 2012 Harvesting Updates GRAINS AND PRODUCTS As of 4 July, according to the Russian Agriculture Ministry, Russia harvested grains on 2.1 million ha and produced 5.8 MMT of grains with an average yield of 2.76 MT/ha (compared to 4.54 MT/ha in 2011). The total area under grains and leguminous crops to be harvested in 2012 is 44.8 million ha. Harvesting is underway in the Southern and Northern-Caucasian regions, where the average grain yield totaled 2.82 MT/ha (compared to over 4.8 MT/ha last year). Despite having a worse grain harvest than the one in 2011, the Russian government does not plan to impose an embargo or export duties. The minister of agriculture forecasts 20 MMT of grain exports in 2012...