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India's government officially forecasts a record 2021 Rabi wheat crop of 109.2 million tonnes on a record 34.6 million hectares planted. The 2020 Kharif paddy crop was also estimated at a record 159 million tonnes, and cereal exports in 2020/21 are forecast well above the five-year average.
Record Indian wheat and rice supplies and strong export availability add downward pressure on global wheat and rice prices and feed-grain alternatives.
reliefweb.intFood, Agriculture Organization of the United NationsMar 12, 2021After 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 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.
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.
