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AHDB analysis argues that rice markets can support wheat prices because the two are substitutes. It notes that global rice stocks are still forecast to grow, but excluding China, stocks-to-use is about 18% tighter.
Coronavirus labour and logistics disruptions in India, Thailand and Vietnam are expected to affect rice trade.
Tighter rice availability outside China can lend price support to wheat through substitution. Labour and logistics disruptions in major exporters add upside risk.
ahdb.org.ukApr 9, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
