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A National Bulk Handling Corporation report estimates India's 2019-20 rabi output will fall 1.95% for cereals, 2.22% for pulses and 13.48% for oilseeds versus last year. Unseasonal rains, weak labour and transport during the lockdown are blamed, though wheat output is still seen up 5.61% year on year.
A sharp fall in Indian oilseed output reduces domestic supply of soy and other oilseeds, supporting meal and oil prices. The lower wheat estimate tightens Indian supply, though the year-on-year gain limits the effect.
business-standard.comPress Trust of IndiaJun 2, 2020After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), 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.
