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Reuters reports that India's wheat exports are set to accelerate as buyers seek alternatives to Black Sea supply. Enquiries are rising after the Russia-Ukraine conflict disrupted shipments.
India has historically been hampered by unfavourable global prices, but that is changing.
Buyers turning to Indian wheat adds demand that supports global wheat prices, especially as Black Sea supply is uncertain. Higher Indian export competitiveness could cap some premiums in Asian markets.
reuters.comRajendra Jadhav, Mayank BhardwajFeb 28, 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.
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.
