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India has allowed about 469,202 tonnes of wheat to be shipped since its May 14 export ban, mainly to Bangladesh, the Philippines, Tanzania and Malaysia. Reuters reports at least 1.7 million tonnes remain stuck at ports and could be damaged by monsoon rains, with wheat exports falling to 1.13 million tonnes in May from 1.46 million in April.
Tight Indian wheat exports reduce supply to importers, supporting global wheat prices, while stranded cargo at ports adds to the risk of quality losses.
timesofindia.indiatimes.comReutersJun 2, 2022After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
After 102 past bullish trade events, Wheat (HRW) moved a median 0.0% over 5 sessions (49% higher; middle half -2.0% to +3.5%), and -1.4% 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.
