# Explainer: What India's u-turn on wheat exports means for world markets

> India's government reversed course on wheat exports and imposed a ban, which sent Chicago wheat futures up by their 6% daily limit on Monday. Trading firms and importers who had counted on millions of tonnes of Indian wheat reaching world markets reacted with alarm.

- Date: 2022-05-16 · published 2022-05-16T12:00:00.000Z
- Category: policy · region India · magnitude high
- Page: https://feedsoft.ai/events/41430-explainer-what-india-s-u-turn-on-wheat-exports-means-for-world-markets
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

India is a major wheat supplier, so removing its exports tightens global supply and supports higher wheat prices, which raises feed grain costs for buyers.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-06-13 | [India will keep tight control over wheat exports](https://feedsoft.ai/events/40906-india-will-keep-tight-control-over-wheat-exports.md) | +1.0% | -6.4% |
| WHEAT | 2022-05-26 | [Sugar exports: India's curbs on wheat and sugar exports spark concern that rice may be next - The Economic Times](https://feedsoft.ai/events/41367-sugar-exports-india-s-curbs-on-wheat-and-sugar-exports-spark-concern-that-rice.md) | -1.9% | -2.9% |
| WHEAT | 2024-01-13 | [India has no plans to import wheat for now - trade minister](https://feedsoft.ai/events/32104-india-has-no-plans-to-import-wheat-for-now-trade-minister.md) | +0.9% | -1.1% |
| WHEAT | 2021-10-19 | [India's unexpected wheat export restriction traps 1.8 million tonnes at ports · Business Upturn](https://feedsoft.ai/events/44507-india-s-unexpected-wheat-export-restriction-traps-1-8-million-tonnes-at-ports.md) | +0.7% | +9.2% |
| WHEAT | 2022-07-07 | [India restricts wheat flour exports \| Reuters](https://feedsoft.ai/events/40457-india-restricts-wheat-flour-exports-reuters.md) | -5.1% | -4.3% |
| KWHEAT | 2022-06-13 | [India will keep tight control over wheat exports](https://feedsoft.ai/events/40906-india-will-keep-tight-control-over-wheat-exports.md) | -4.9% | -24.9% |
| KWHEAT | 2022-05-14 | [India says ban on wheat exports is to check unregulated trade \| Reuters](https://feedsoft.ai/events/41368-india-says-ban-on-wheat-exports-is-to-check-unregulated-trade-reuters.md) | 0.0% | -7.3% |
| KWHEAT | 2021-01-19 | [Wheat holds near 6-1/2 year peak as focus stays on Russian export tax - Markets - Business Recorder](https://feedsoft.ai/events/49175-wheat-holds-near-6-1-2-year-peak-as-focus-stays-on-russian-export-tax-markets.md) | -2.4% | -0.9% |

## Sources

- reuters.com: https://www.reuters.com/markets/europe/what-indias-u-turn-wheat-exports-means-world-markets-2022-05-16/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.