
India's government estimates 2020-21 foodgrain output at a record 305.43 million tonnes, up 2.66%, with record rice at 121.46 million tonnes and record wheat at 108.75 million tonnes. Coarse cereal output is also projected to rise to 49.66 million tonnes.
Record Indian rice and wheat crops increase domestic supply available for export and feed use, which is bearish for global grain prices.
After 87 past bearish report events, Rough Rice moved a median +0.0% over 5 sessions (53% higher; middle half -2.1% to +2.4%), and +1.1% over 20.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.