US officials have added their voice to the chorus forecasting that Russia's grain intervention programme will prove little help in supporting prices, as the scheme unveiled its second day of purchases.

The 9.5bn roubles ($328m) set aside for intervention buying, half the rate initially indicated, is enough to buy about 2.0-2.5m tonnes of grain.

Given Russia's rich grain supplies, the programme "will not have a significant impact on domestic grain prices", a report from US staff in Moscow said, echoing comments from observers including Moscow-based analysis group Sovecon.

The country has some 7m-8m tonnes left in storage from last year's intervention buying, when the budget totalled $1.5bn, besides 2009 production of at least 90m tonnes, the briefing said.

But domestic consumption would account for about 75m tonnes of grain.

The surplus may even bigger to judge by an estimate from Russia's farm minister, Yelena Skrinnik, on Monday that Russia had harvested 101m tonnes of wheat by bunker weight.

Given losses of 7-8% in cleaning and drying grain, this is equivalent to about 93m tonnes clean weight.

'Targeted and selective' 

Russia, which has aimed its intervention scheme at underpinning and stabilising prices, said it had purchased 46,800 tonnes of wheat on the second day of buying, which Ms Skrinnik has promised will be "targeted and selective".

The acquisitions brought to nearly 104,000 tonnes the total grain purchased so far by the programme, to which growers have offered 7.4m tonnes.

The prices paid fell on the second day even further below ceiling prices which, for third grade milling wheat, were set at up to 6,000 roubles a tonne.

The government paid at most 4,950 roubles a tonne for third grade wheat on Tuesday, compared with 5,250 roubles a tonne on Monday.

The best price paid for fourth grade wheat dipped by 300 roubles to 4,200 roubles a tonne.