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Russia increases grain export estimates

MOSCOW, RUSSIA — Russia has increased its grain export estimates for the 2020-21 marketing season to 50 million tonnes, Reuters reported.

The government is preparing its export quota for the January to June period as the situation has changed from the height of the coronavirus (COVID-19) pandemic in the spring. A large harvest, rising domestic prices and a weakening ruble are being considered as a new export quota mechanism is evaluated.