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Global rice prices are at their highest in 15 years, according to the FAO, following India's July 20 ban on non-basmati white rice exports. Traders say the shortage could spill over to wheat, soybeans and corn as substitutes.
India's export ban has pushed rice to multi-year highs and may lift demand for substitute feed grains. Buyers should expect firm prices for rice and possible knock-on support for corn and wheat.
aljazeera.comHanna Duggal, Marium AliSep 20, 2023After 168 past bullish policy events, Rough Rice moved a median +0.8% over 5 sessions (57% higher; middle half -1.7% to +2.1%), and -0.4% over 20.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
After 182 past bullish policy events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.9% to +1.4%), 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.
