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India's DGFT notification dated May 13, 2022 moves wheat exports from free to prohibited. Exceptions are allowed for transit shipments and cargo under existing letters of credit.
The formal notification makes the wheat export prohibition legally binding, removing India's supply from world wheat markets and supporting prices.
taxguru.inEditor2May 13, 2022After 182 past bullish policy events, WHEAT moved a median +0.1% over 5 sessions (52% higher; middle half -1.9% to +1.4%), and -0.3% over 20.
After 37 past bullish policy events, KWHEAT moved a median -0.1% over 5 sessions (41% higher; middle half -3.4% to +2.0%), and -3.3% 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.
