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US lawmakers have asked USTR and USDA to pursue a WTO case against India's domestic wheat and rice support, which they say covers about half of production costs versus a 10% limit. The letters say India's subsidized stocks are exported below cost, with USDA projecting 5 MMT of Indian wheat exports for the year ending June 2022.
A possible WTO challenge targets India's subsidized exports that undercut world wheat and rice prices, so a case could eventually tighten Indian supply and support prices for competing exporters.
uswheat.orgJan 19, 2022After 206 past neutral trade events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.6%), and +0.5% over 20.
After 70 past neutral trade events, Rough Rice moved a median +0.2% over 5 sessions (51% higher; middle half -1.3% to +1.9%), and +1.3% 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.
