Russia cuts forecast for grain crop

Russia has lowered its forecast for this year's grain crop to 84-85 million tonnes from a previously expected 85-87 million, the deputy prime minister in charge of agriculture said on Friday. "The grain crop this year is planned at 84-85 million tonnes," First Deputy Prime Minister Viktor Zubkov told a teleconference of Prime Minister Vladimir Putin with regional governors.
Russian grain traders hope to return to export markets later this year. The government has imposed a grain export ban up to July 1, following a devasting drought that wiped out one third of the crop last summer.