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Heavy rain and hail hit India's northwest wheat belt just before harvest, flattening crops on about 150,000 hectares of wheat and rapeseed in Punjab. Officials say the affected area is under 0.5% of national plantings and that much of the damage may recover.
The localized damage slightly reduces the chance of a record Indian wheat crop, and a smaller harvest could delay easing of India's wheat export curbs, a modest support for global wheat prices.
ukragroconsult.comMar 11, 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.
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.
