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A 21-day coronavirus lockdown in India sent most farm labourers home, leaving northern wheat states short of harvest workers. Late harvests could reduce yields and expose crops to rain and hail.
Delays in shipping operations could also affect rice exports.
Harvest delays and possible yield losses in India, the second-largest wheat producer, tighten the outlook for wheat supply. Shipping delays add to the pressure on rice export flows.
gulfnews.comReutersApr 2, 2020After 283 past bullish logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% over 20.
After 21 past bullish logistics events, Rough Rice moved a median -0.5% over 5 sessions (38% higher; middle half -2.0% to +1.8%), and +3.6% 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.
