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A USDA report says India's share of global grain trade has shrunk, with corn exports down 86%, rice down 20% and wheat down 90% from 2020-21 to 2023-24. India is likely to become a net corn importer for the first time this century.
Less Indian supply of corn, rice and wheat leaves the world market tighter, while growing Indian corn demand adds upward pressure on prices.
thehindubusinessline.comSubramani Ra MancombuAug 14, 2024After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 88 past bullish report events, Rough Rice moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +2.1%), and +2.5% over 20.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
