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A Roller Flour Millers' Federation estimate puts India's 2023 wheat harvest at 101-103 million tonnes, at least 10% below the government's estimate. Wheat prices in New Delhi have risen 10% in two months to 24,900 rupees per tonne.
A materially smaller Indian crop than officially estimated raises the odds of further export restrictions and supports global wheat prices as importers seek supply.
business-standard.comReutersJun 21, 2023After 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.
