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India's wheat export ban, announced on Saturday after the government had said it was targeting record exports, has trapped about 1.8 million tonnes of grain at ports. Dealers report heavy losses as they face selling into a weaker domestic market.
Stranded Indian cargoes remove supply from export markets, supporting world wheat prices while exporters face losses and possible shipment disruption.
reuters.comRajendra JadhavMay 16, 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.
