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The USDA attaché in New Delhi forecasts India's 2021-22 wheat exports at 2 million tonnes, down 26% year on year, with production seen at 105 million tonnes versus 107.86 million a year earlier. Domestic prices remain firm due to strong government procurement at support prices.
Lower expected Indian exports and output tighten the global wheat balance, supporting prices in the coming marketing year.
spglobal.comSampad NandyMay 6, 2021After 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.
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.
