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India banned wheat exports, trapping about 1.8 million tonnes at ports as a heat wave cut output and domestic prices hit records. Exporters holding letters of credit for only a fraction of the cargoes face losses from reselling into a weaker domestic market.
A sudden export ban removes a major supplier from world wheat trade, which tends to firm global wheat prices while trapped cargoes weigh on the domestic market.
businessupturn.comIndia News DeskOct 19, 2021After 182 past bullish policy events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.9% to +1.4%), and -0.3% 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.
