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World wheat reserves to decrease by 13 prc in 2013

At the same time, soybean reserves will grow due to large crops in Argentina and Brazil

Photo EPA/ITAR-TASS

Photo EPA/ITAR-TASS

WASHINGTON, October 12 (Itar-Tass) —— World wheat reserves in 2013 will decrease by 13 percent to the lowest level in the last four years and corn reserves will shrink by 11 percent to their lowest over the past six years, the U.SD. Department of Agriculture said in its outlook released on Thursday, October 11.

It attributed the decrease to droughts in the United States, Australia, Russia and some other countries this summer.

At the same time, soybean reserves will grow due to large crops in Argentina and Brazil.

Russia plans to harvest 74-75 million tonnes of grains this year, a 20 percent decrease from last year. This amount will drop to 71 million tonnes after processing.

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