According to reports, Russia is closer to its goal of increased grain exports. Black Earth Farming Ltd. is expected to export grain to Japan and expand grain production by more than 500,000 metric tons this year.

Russia plans to double its exports in the next 10 to 15 years by developing fallow land. The country is promoting the endeavor with loans to support additional grain terminals and silos.

Black Earth also plans forward sales with traders and fertilizer suppliers both at home and abroad.

In Stockholm trading, Black Earth rose 1 krona, or 4.1%, to close at 25.70 kronor.