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Reuters reports that expected normal monsoon rains should boost Indian rice output. Government and industry officials said India does not plan to curb rice exports.
Good monsoon prospects and official denials of rice curbs ease fears of tighter supply, which is bearish for rice prices.
reuters.comRajendra Jadhav, Mayank BhardwajJun 1, 2022After 27 past bearish weather events, Rough Rice moved a median -1.6% over 5 sessions (37% higher; middle half -3.4% to +1.1%), and -1.3% 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.
