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The USDA raised its forecast of Indian wheat exports for 2020-21 to 1.8 million tonnes, the highest in six years. The increase follows higher global prices, and Russia's 25-euro-per-tonne wheat export tax has pushed Bangladesh to consider Indian supply.
Russia's export tax and rising Chicago wheat prices are shifting import flows toward India, which supports world wheat prices. The impact is moderate because Indian wheat is still uncompetitive at current prices.
indianexpress.comHarish DamodaranJan 13, 2021After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% 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.
