
India's annual retail inflation stayed above 7 percent in June, with food inflation at 7.75 percent. Economists expect further central bank rate hikes at the August policy meeting despite the export curbs on wheat and other foods.
Persistent food inflation and rate hikes show the macro backdrop in India, but the report does not directly change grain or oilseed supply or prices.
After 43 past macro events, Rough Rice moved a median +0.5% over 5 sessions (56% higher; middle half -2.0% to +2.3%), and +1.6% over 20.
After 152 past macro events, Wheat (SRW) moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.1%), and -0.7% 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.