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The USDA attaché in India projects a record 2021-22 wheat harvest on a record planting area of 34.5 million hectares and favourable weather. India's 2020-21 crop is estimated at a record 107.6 million tonnes.
A larger Indian crop raises the prospect of more wheat exports, adding bearish pressure to world wheat prices over the coming year.
spglobal.comFeb 11, 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.
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.
