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An S&P Global survey of 11 analysts and traders expects India's 2022-23 wheat crop at 107-108 million tonnes, below the government's record forecast of 112.2 million tonnes. Traders expect domestic prices to ease on higher supply and hope the government will review its export ban after restocking.
A smaller-than-official crop and a possible export ban review create conflicting signals for global wheat. Easing domestic prices reduce pressure to keep India's export restrictions in place.
spglobal.comSampad Nandy, Samyak PandeyFeb 15, 2023After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), 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.
