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India's wheat procurement for 2022-23 reached about 13.69 million tonnes through April 24, down 35% from a year earlier, and mandi arrivals are about 20% lower. Production estimates have also been cut below the earlier 111 million tonne projection.
Trade sources say India may reconsider its push to expand wheat exports once shipments pass 6-7 million tonnes.
Tighter Indian supplies and possible export curbs would reduce the expected flow of wheat into global markets, supporting world wheat prices.
business-standard.comSanjeeb MukherjeeApr 25, 2022After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
After 180 past bullish report events, Wheat (HRW) moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.7%), and -0.6% 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.
