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India is projected to harvest a record 107 million tonnes of wheat in 2019-20, about 40% above the 10-year average. Wheat prices have fallen 17.5% over six months and are expected to hover near the minimum support price with slight downside risk.
Ample Indian supply and large government stocks cap domestic wheat prices and reduce import demand, which is mildly bearish for global wheat prices.
thehindubusinessline.comAug 9, 2020After 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.
