
Indian state rice stocks reached a record 68.43 million tonnes on June 1, while wheat stocks hit 53.41 million tonnes, the highest since 2021 and nearly double the official target. Reuters cited a trading dealer saying the stockpile supports continued exports despite El Niño forecasts.
Heavy government stocks give India room to keep exporting rice and wheat, which limits upside in world prices even as El Niño threatens output.
After 87 past bearish report events, RICE moved a median +0.0% over 5 sessions (53% higher; middle half -2.1% to +2.4%), and +1.1% over 20.
After 1,006 past bearish report events, WHEAT moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% 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.