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India's state wheat stocks fell to 7.5 million tonnes at the start of April, a 16-year low, as the government sold record volumes to curb prices. The government plans to procure about 33.5 million tonnes in the 2024-25 marketing year, roughly 28 percent above the prior year.
Very low Indian public wheat stocks and an aggressive procurement plan point to reduced export availability and firmer domestic demand, supporting global wheat prices.
spglobal.comApr 19, 2024After 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.
