
Indian state reserves of rice, including unmilled paddy, reached a record 48.2 million tonnes as of September 1, well above the government target. Wheat stocks stood at 33.3 million tonnes, a four-year high and above target.
Record rice stocks support larger exports from the world's biggest supplier, which is bearish for global rice prices. High wheat reserves give the government room to use open market sales to limit domestic price spikes.
After 87 past bearish report events, Rough 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 (SRW) 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.