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Indian rice prices edged up in late October on a stronger rupee and supply concerns, while heavy rain in key rice-producing states made traders anxious about the crop. Bangladesh was also dealing with cyclone damage.
Weather-related crop risk in India and cyclone impacts in Bangladesh support rice prices into the new season.
brecorder.comOct 27, 2022After 179 past bullish weather events, Rough Rice moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.5%), and +2.2% over 20.
Not enough comparable past events yet for a historical read.
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.
Heavy rain in Indian rice states and Bangladesh cyclone damage raised crop and supply concerns in late October, a bullish factor for rice prices ahead of the move.
