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India's government set a 2026-27 foodgrain output target of 373.93 million tonnes, slightly below the record 2025-26 crop, with lower targets for rice and maize. The move follows an India Meteorological Department forecast of below-normal monsoon rainfall at 90% of normal due to El Niño.
A lower official output target signals tighter expected supply and possible future export caution, which supports rice and maize prices if El Niño damages crops.
thehindubusinessline.comPrabhudatta MishraJun 2, 2026After 179 past bullish weather events, Rough Rice moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.5%), and +2.2% over 20.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
