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India's FCI has bought 38.83 million tonnes of wheat this season, 4.7 million tonnes more than last year, and officials expect purchases of 40.5 to 41 million tonnes. Guaranteed prices sit about $35 a tonne above world levels, which has blocked Indian wheat exports.
Record Indian state procurement removes wheat from the market and keeps Indian export supply out of world trade, supporting global wheat prices. Storage limits could eventually force surplus disposal, a bearish risk later.
scceu.orgJul 3, 2020After 182 past bullish policy events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.9% to +1.4%), 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.
