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Top Indian rice shippers say the government is unlikely to restrict grain exports, as the country has enough supply for domestic demand. The farm ministry forecasts record 2019-20 rice output of 117.47 million tonnes and wheat output of up to 106.21 million tonnes.
Expectations of continued Indian exports ease fears of a global supply squeeze, which weighs on rice and wheat prices. Confirmation of no curbs would reduce the risk premium in world markets.
bloomberg.comPratik ParijaApr 3, 2020After 141 past bearish trade events, Rough Rice moved a median +0.6% over 5 sessions (57% higher; middle half -2.3% to +2.4%), and -0.6% over 20.
After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% 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.
