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Indian government wheat procurement reached 20.5 million tonnes in the rabi marketing season, already above the prior season's total. Opening wheat stocks were 8.3 million mt, the lowest in six years but above the 7.5 million mt minimum.
An editorial also flags El Nino risk to the coming monsoon and kharif rice output.
Stronger procurement and a better crop reduce pressure on Indian domestic wheat supply, while El Nino risk to the monsoon could later tighten rice supplies.
indianexpress.comEditorialApr 29, 2023After 247 past report events, Rough Rice moved a median +0.0% over 5 sessions (51% higher; middle half -1.8% to +2.3%), and +0.9% over 20.
After 2,447 past report events, Wheat (SRW) moved a median +0.0% over 5 sessions (51% higher; middle half -1.5% to +1.8%), 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.
