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India's government said its wheat export ban will continue as long as domestic supplies are not comfortable. FCI said recent unseasonal rains have not hurt output, which is still projected at a record 112 million tonnes for 2023-24.
Procurement of the new crop has started at minimum support prices.
A continued Indian export ban keeps a major wheat supplier off world markets, supporting global wheat prices. A record Indian crop would ease that pressure over time.
business-standard.comPress Trust of IndiaMar 28, 2023After 468 past policy events, RICE moved a median +0.3% over 5 sessions (53% higher; middle half -2.0% to +2.0%), and +0.1% over 20.
After 1,019 past policy events, WHEAT moved a median -0.1% over 5 sessions (49% higher; middle half -1.7% to +1.5%), 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.
