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An AgriBazaar outlook covers India's wheat crop, noting sowing acreage up 74% year on year as of November 6, 2020, and government open-market sales of wheat. Wheat prices are expected to trade steady to slightly firm in the short term as wheat product demand has stayed weak.
Monsoon rainfall through November 4 was 1% below the long-period average.
Higher Indian wheat sowing and weak product demand point to ample domestic supply that keeps global wheat prices from firming much.
blog.agribazaar.comNov 17, 2020Not enough comparable past events yet for a historical read.
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.
