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India's monsoon arrived early but then stalled, leaving rainfall 18% below normal so far this season. Tight supplies of milk, cereals and pulses are expected to keep food prices high, and the government has announced no plans to import grain.
A weak monsoon and no planned imports leave Indian wheat and rice supplies tight, supporting prices in both domestic and world markets.
reuters.comRajendra JadhavJun 21, 2024After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
After 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.
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.
